AVEPEL: what changed
Two fiscal 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.
AVEPEL
Largest movements
- Cash -€99,539
down €99,539 (-81.3%), from €122,495 to €22,956
mainly Receivables within one year (-€72,810) and Current investments (-€29,000)
- Receivables within one year +€72,810
up €72,810 (+13.1%), from €556,704 to €629,513
- Current investments +€29,000
up €29,000 (+19.3%), from €150,000 to €179,000
No liability line moved by more than 1% of the balance sheet total.
- Financial charges +€1,222
up €1,222 (+4288.4%), from €29 to €1,251
- Financial income -€1,168
down €1,168 (-23.9%), from €4,882 to €3,714
- Gross operating margin +€857
up €857 (+41.6%), from -€2,057 to -€1,201
- Other operating charges +€35
up €35 (+3.1%), from €1,108 to €1,143
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.
Cash bridge derived
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 | €1,133,302 | €1,133,421 | +€120 | 0.0% |
| Fixed assets | 21/28 | €200,794 | €200,794 | = | 0.0% |
| Financial fixed assets | 28 | €200,794 | €200,794 | = | 0.0% |
| Current assets | 29/58 | €932,508 | €932,627 | +€120 | 0.0% |
| Amounts receivable within one year | 40/41 | €556,704 | €629,513 | +€72,810 | +13.1% |
| Other amounts receivable | 41 | €556,704 | €629,513 | +€72,810 | +13.1% |
| Current investments | 50/53 | €150,000 | €179,000 | +€29,000 | +19.3% |
| Cash at bank and in hand | 54/58 | €122,495 | €22,956 | -€99,539 | -81.3% |
| Deferred charges and accrued income | 490/1 | €103,310 | €101,158 | -€2,151 | -2.1% |
| Total equity and liabilities | 10/49 | €1,133,302 | €1,133,421 | +€120 | 0.0% |
| Equity | 10/15 | €984,636 | €984,755 | +€120 | 0.0% |
| Contributions | 10/11 | €330,750 | €330,750 | = | 0.0% |
| Capital | 10 | €330,750 | €330,750 | = | 0.0% |
| Issued capital | 100 | €330,750 | €330,750 | = | 0.0% |
| Reserves | 13 | €654,828 | €654,828 | = | 0.0% |
| Non-distributable reserves | 130/1 | €29,031 | €29,031 | = | 0.0% |
| Legal reserve | 130 | €29,031 | €29,031 | = | 0.0% |
| Distributable reserves | 133 | €625,796 | €625,796 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€942 | -€823 | +€120 | +12.7% |
| Amounts payable | 17/49 | €148,666 | €148,666 | = | 0.0% |
| Amounts payable within one year | 42/48 | €148,666 | €148,666 | = | 0.0% |
| Other amounts payable | 47/48 | €148,666 | €148,666 | = | 0.0% |
| Other operating charges | 640/8 | €1,108 | €1,143 | +€35 | +3.1% |
| Gross operating margin | 9900 | -€2,057 | -€1,201 | +€857 | +41.6% |
| Operating profit (loss) | 9901 | -€3,165 | -€2,343 | +€822 | +26.0% |
| Financial income | 75/76B | €4,882 | €3,714 | -€1,168 | -23.9% |
| Recurring financial income | 75 | €4,882 | €3,714 | -€1,168 | -23.9% |
| Financial charges | 65/66B | €29 | €1,251 | +€1,222 | +4288.4% |
| Recurring financial charges | 65 | €29 | €1,251 | +€1,222 | +4288.4% |
| Profit (loss) for the period before taxes | 9903 | €1,688 | €120 | -€1,569 | -92.9% |
| Profit (loss) for the period | 9904 | €1,688 | €120 | -€1,569 | -92.9% |
| Profit (loss) for the period to be appropriated | 9905 | €1,688 | €120 | -€1,569 | -92.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.