AVEOR: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
AVEOR
Largest movements
- Tangible fixed assets +€571,211
up €571,211 (+52.2%), from €1.1m to €1.7m
of which Land and buildings: +€580,822
- Current investments +€90,925
up €90,925 (+31.6%), from €287,672 to €378,597
- Debts after one year +€575,841
up €575,841 (+55.4%), from €1.0m to €1.6m
of which Financial debts: +€288,734
- Profit (loss) carried forward +€100,525
up €100,525 (+53.1%), from €189,280 to €289,804
- Other debts -€58,631
no longer reported in 2025 (was €58,631)
- Gross operating margin +€56,532
up €56,532 (+33.9%), from €166,845 to €223,377
- Depreciation +€33,585
up €33,585 (+79.0%), from €42,495 to €76,080
- Financial charges +€21,329
up €21,329 (+67.7%), from €31,507 to €52,836
of which Financial charges: +€38,597
- Taxes -€9,171
down €9,171 (-30.8%), from €29,750 to €20,579
- Financial income -€6,360
down €6,360 (-15.6%), from €40,685 to €34,326
of which Non-recurring financial income: -€6,074
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,421,816 | €2,069,822 | +€648,005 | +45.6% |
| Fixed assets | 21/28 | €1,095,289 | €1,666,500 | +€571,211 | +52.2% |
| Tangible fixed assets | 22/27 | €1,095,289 | €1,666,500 | +€571,211 | +52.2% |
| Land and buildings | 22 | €1,042,937 | €1,623,759 | +€580,822 | +55.7% |
| Furniture and vehicles | 24 | €52,352 | €42,741 | -€9,611 | -18.4% |
| Current assets | 29/58 | €326,527 | €403,322 | +€76,795 | +23.5% |
| Amounts receivable within one year | 40/41 | €20,308 | €20,048 | -€260 | -1.3% |
| Trade receivables | 40 | €20,304 | €19,956 | -€348 | -1.7% |
| Other amounts receivable | 41 | €4 | €92 | +€88 | +2,013% |
| Current investments | 50/53 | €287,672 | €378,597 | +€90,925 | +31.6% |
| Cash at bank and in hand | 54/58 | €18,546 | €4,676 | -€13,870 | -74.8% |
| Total equity and liabilities | 10/49 | €1,421,816 | €2,069,822 | +€648,005 | +45.6% |
| Equity | 10/15 | €214,280 | €314,804 | +€100,525 | +46.9% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €189,280 | €289,804 | +€100,525 | +53.1% |
| Amounts payable | 17/49 | €1,207,536 | €1,755,017 | +€547,481 | +45.3% |
| Amounts payable after more than one year | 17 | €1,039,767 | €1,615,608 | +€575,841 | +55.4% |
| Financial debts | 170/4 | €1,039,767 | €1,328,501 | +€288,734 | +27.8% |
| Other amounts payable | 178/9 | - | €287,107 | +€287,107 | |
| Amounts payable within one year | 42/48 | €167,769 | €139,409 | -€28,360 | -16.9% |
| Current portion of amounts payable after more than one year | 42 | €42,467 | €54,692 | +€12,225 | +28.8% |
| Trade debts | 44 | €3,464 | €3,660 | +€197 | +5.7% |
| Suppliers | 440/4 | €3,464 | €3,660 | +€197 | +5.7% |
| Taxes, remuneration and social security | 45 | €63,207 | €81,057 | +€17,849 | +28.2% |
| Taxes | 450/3 | €63,207 | €79,907 | +€16,699 | +26.4% |
| Remuneration and social security | 454/9 | - | €1,150 | +€1,150 | |
| Other amounts payable | 47/48 | €58,631 | - | -€58,631 | |
| Non-recurring operating income | 76A | - | €2,394 | +€2,394 | |
| Remuneration, social security and pensions | 62 | €752 | - | -€752 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,495 | €76,080 | +€33,585 | +79.0% |
| Other operating charges | 640/8 | €2,451 | €7,684 | +€5,233 | +214% |
| Gross operating margin | 9900 | €166,845 | €223,377 | +€56,532 | +33.9% |
| Operating profit (loss) | 9901 | €121,147 | €139,613 | +€18,466 | +15.2% |
| Financial income | 75/76B | €40,685 | €34,326 | -€6,360 | -15.6% |
| Recurring financial income | 75 | €2,017 | €1,731 | -€286 | -14.2% |
| Non-recurring financial income | 76B | €38,669 | €32,595 | -€6,074 | -15.7% |
| Financial charges | 65/66B | €31,507 | €52,836 | +€21,329 | +67.7% |
| Recurring financial charges | 65 | €11,904 | €50,501 | +€38,597 | +324% |
| Non-recurring financial charges | 66B | €19,603 | €2,334 | -€17,269 | -88.1% |
| Profit (loss) for the period before taxes | 9903 | €130,325 | €121,103 | -€9,222 | -7.1% |
| Income taxes | 67/77 | €29,750 | €20,579 | -€9,171 | -30.8% |
| Profit (loss) for the period | 9904 | €100,575 | €100,525 | -€51 | -0.1% |
| Profit (loss) for the period to be appropriated | 9905 | €100,575 | €100,525 | -€51 | -0.1% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.