AVERMAN: 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.
AVERMAN
Largest movements
- Receivables within one year +€40,922
up €40,922 (+112.2%), from €36,485 to €77,407
of which Trade receivables: +€36,303
- Cash +€17,631
up €17,631 (+18.9%), from €93,144 to €110,775
mainly Net result for the year (+€75,845) and Depreciation (+€11,673)
- Tangible fixed assets -€10,300
down €10,300 (-34.2%), from €30,127 to €19,827
- Reserves +€75,845
up €75,845 (+82.2%), from €92,275 to €168,120
- Tax, wage and social debts -€29,368
down €29,368 (-77.3%), from €38,013 to €8,645
- Gross operating margin -€30,087
down €30,087 (-17.1%), from €176,148 to €146,062
- Provisions -€28,042
down €28,042 (-97.1%), from €28,888 to €846
- Financial charges +€26,226
up €26,226 (+712.3%), from €3,682 to €29,908
- Taxes -€19,099
down €19,099 (-41.1%), from €46,490 to €27,390
- Depreciation +€7,089
up €7,089 (+154.7%), from €4,584 to €11,673
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 | €162,213 | €210,481 | +€48,268 | +29.8% |
| Fixed assets | 21/28 | €30,127 | €19,827 | -€10,300 | -34.2% |
| Tangible fixed assets | 22/27 | €30,127 | €19,827 | -€10,300 | -34.2% |
| Furniture and vehicles | 24 | €30,127 | €19,827 | -€10,300 | -34.2% |
| Current assets | 29/58 | €132,086 | €190,654 | +€58,568 | +44.3% |
| Amounts receivable within one year | 40/41 | €36,485 | €77,407 | +€40,922 | +112.2% |
| Trade receivables | 40 | €26,136 | €62,439 | +€36,303 | +138.9% |
| Other amounts receivable | 41 | €10,349 | €14,968 | +€4,619 | +44.6% |
| Cash at bank and in hand | 54/58 | €93,144 | €110,775 | +€17,631 | +18.9% |
| Deferred charges and accrued income | 490/1 | €2,457 | €2,472 | +€16 | +0.6% |
| Total equity and liabilities | 10/49 | €162,213 | €210,481 | +€48,268 | +29.8% |
| Equity | 10/15 | €95,275 | €171,120 | +€75,845 | +79.6% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €92,275 | €168,120 | +€75,845 | +82.2% |
| Distributable reserves | 133 | €92,275 | €168,120 | +€75,845 | +82.2% |
| Provisions and deferred taxes | 16 | €28,888 | €29,734 | +€846 | +2.9% |
| Provisions for liabilities and charges | 160/5 | €28,888 | €29,734 | +€846 | +2.9% |
| Other liabilities and charges | 164/5 | €28,888 | €29,734 | +€846 | +2.9% |
| Amounts payable | 17/49 | €38,050 | €9,627 | -€28,423 | -74.7% |
| Amounts payable within one year | 42/48 | €38,050 | €9,627 | -€28,423 | -74.7% |
| Trade debts | 44 | €36 | €982 | +€946 | +2597.5% |
| Suppliers | 440/4 | €36 | €982 | +€946 | +2597.5% |
| Taxes, remuneration and social security | 45 | €38,013 | €8,645 | -€29,368 | -77.3% |
| Taxes | 450/3 | €38,013 | €8,645 | -€29,368 | -77.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,584 | €11,673 | +€7,089 | +154.7% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €28,888 | €846 | -€28,042 | -97.1% |
| Other operating charges | 640/8 | €543 | €400 | -€143 | -26.4% |
| Gross operating margin | 9900 | €176,148 | €146,062 | -€30,087 | -17.1% |
| Operating profit (loss) | 9901 | €142,134 | €133,143 | -€8,991 | -6.3% |
| Financial income | 75/76B | €313 | - | -€313 | |
| Recurring financial income | 75 | €313 | - | -€313 | |
| Financial charges | 65/66B | €3,682 | €29,908 | +€26,226 | +712.3% |
| Recurring financial charges | 65 | €3,682 | €29,908 | +€26,226 | +712.3% |
| Profit (loss) for the period before taxes | 9903 | €138,765 | €103,235 | -€35,530 | -25.6% |
| Income taxes | 67/77 | €46,490 | €27,390 | -€19,099 | -41.1% |
| Profit (loss) for the period | 9904 | €92,275 | €75,845 | -€16,430 | -17.8% |
| Profit (loss) for the period to be appropriated | 9905 | €92,275 | €75,845 | -€16,430 | -17.8% |
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 30 September 2026 via checked.be.