AVERBO: 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.
AVERBO
Largest movements
- Cash +€4.1m
up €4.1m (+311.6%), from €1.3m to €5.4m
mainly Current investments (+€3.7m) and Other debts (+€1.7m)
- Current investments -€3.7m
down €3.7m (-50.4%), from €7.2m to €3.6m
- Intangible fixed assets +€198,247
new in 2025: €198,247
- Tangible fixed assets -€147,704
down €147,704 (-40.4%), from €365,895 to €218,191
of which Furniture and vehicles: -€146,782
- Receivables within one year -€130,049
down €130,049 (-39.5%), from €329,157 to €199,108
of which Other amounts receivable: -€130,116
- Other debts +€1.7m
up €1.7m (+22.4%), from €7.5m to €9.2m
- Reserves -€1.3m
down €1.3m (-85.7%), from €1.5m to €209,619
- Trade debts -€115,128
down €115,128 (-77.1%), from €149,239 to €34,111
- Staff costs +€146,214
up €146,214 (+37.2%), from €392,655 to €538,869
- Gross operating margin -€84,070
down €84,070 (-4.4%), from €1.9m to €1.8m
- Taxes -€79,526
down €79,526 (-18.2%), from €436,548 to €357,023
- Financial income -€70,445
down €70,445 (-25.9%), from €272,325 to €201,880
- Other operating charges +€59,439
up €59,439 (+2112.4%), from €2,814 to €62,253
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 | €9,258,930 | €9,630,181 | +€371,251 | +4.0% |
| Fixed assets | 21/28 | €367,145 | €417,687 | +€50,542 | +13.8% |
| Intangible fixed assets | 21 | - | €198,247 | +€198,247 | |
| Tangible fixed assets | 22/27 | €365,895 | €218,191 | -€147,704 | -40.4% |
| Plant, machinery and equipment | 23 | €7,349 | €6,427 | -€922 | -12.5% |
| Furniture and vehicles | 24 | €358,546 | €211,764 | -€146,782 | -40.9% |
| Financial fixed assets | 28 | €1,250 | €1,250 | = | 0.0% |
| Current assets | 29/58 | €8,891,785 | €9,212,493 | +€320,708 | +3.6% |
| Amounts receivable within one year | 40/41 | €329,157 | €199,108 | -€130,049 | -39.5% |
| Trade receivables | 40 | €29,963 | €30,030 | +€67 | +0.2% |
| Other amounts receivable | 41 | €299,194 | €169,078 | -€130,116 | -43.5% |
| Current investments | 50/53 | €7,249,822 | €3,592,858 | -€3.7m | -50.4% |
| Cash at bank and in hand | 54/58 | €1,312,806 | €5,403,904 | +€4.1m | +311.6% |
| Deferred charges and accrued income | 490/1 | - | €16,623 | +€16,623 | |
| Total equity and liabilities | 10/49 | €9,258,930 | €9,630,181 | +€371,251 | +4.0% |
| Equity | 10/15 | €1,491,737 | €234,219 | -€1.3m | -84.3% |
| Contributions | 10/11 | €24,600 | €24,600 | = | 0.0% |
| Reserves | 13 | €1,467,137 | €209,619 | -€1.3m | -85.7% |
| Distributable reserves | 133 | €1,467,137 | €209,619 | -€1.3m | -85.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €7,767,193 | €9,395,962 | +€1.6m | +21.0% |
| Amounts payable within one year | 42/48 | €7,766,579 | €9,393,871 | +€1.6m | +21.0% |
| Trade debts | 44 | €149,239 | €34,111 | -€115,128 | -77.1% |
| Suppliers | 440/4 | €149,239 | €34,111 | -€115,128 | -77.1% |
| Taxes, remuneration and social security | 45 | €79,491 | €132,725 | +€53,234 | +67.0% |
| Taxes | 450/3 | €41,376 | €59,092 | +€17,717 | +42.8% |
| Remuneration and social security | 454/9 | €38,115 | €73,633 | +€35,517 | +93.2% |
| Other amounts payable | 47/48 | €7,537,848 | €9,227,035 | +€1.7m | +22.4% |
| Accrued charges and deferred income | 492/3 | €614 | €2,091 | +€1,476 | +240.4% |
| Remuneration, social security and pensions | 62 | €392,655 | €538,869 | +€146,214 | +37.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €106,435 | €89,523 | -€16,912 | -15.9% |
| Other operating charges | 640/8 | €2,814 | €62,253 | +€59,439 | +2112.4% |
| Gross operating margin | 9900 | €1,928,509 | €1,844,439 | -€84,070 | -4.4% |
| Operating profit (loss) | 9901 | €1,426,605 | €1,153,794 | -€272,811 | -19.1% |
| Financial income | 75/76B | €272,325 | €201,880 | -€70,445 | -25.9% |
| Recurring financial income | 75 | €272,325 | €201,880 | -€70,445 | -25.9% |
| Financial charges | 65/66B | €4,864 | €51,206 | +€46,341 | +952.7% |
| Recurring financial charges | 65 | €4,864 | €51,206 | +€46,341 | +952.7% |
| Profit (loss) for the period before taxes | 9903 | €1,694,066 | €1,304,469 | -€389,597 | -23.0% |
| Income taxes | 67/77 | €436,548 | €357,023 | -€79,526 | -18.2% |
| Profit (loss) for the period | 9904 | €1,257,518 | €947,447 | -€310,071 | -24.7% |
| Profit (loss) for the period to be appropriated | 9905 | €1,257,518 | €947,447 | -€310,071 | -24.7% |
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 5 October 2026 via checked.be.