Avertro Advies: 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.
Avertro Advies
Largest movements
- Intangible fixed assets +€699,923
up €699,923 (+229.4%), from €305,153 to €1.0m
- Cash -€233,698
down €233,698 (-79.1%), from €295,594 to €61,896
mainly Investment in fixed assets (net) (-€895,768) and Other debts (-€245,891)
- Tangible fixed assets +€94,732
up €94,732 (+137.8%), from €68,770 to €163,502
of which Other tangible fixed assets: +€84,926
- Receivables within one year +€37,829
up €37,829 (+38.9%), from €97,198 to €135,027
of which Trade receivables: +€57,761
- Debts after one year +€612,341
up €612,341 (+453.5%), from €135,028 to €747,369
- Other debts -€245,891
down €245,891 (-53.9%), from €455,979 to €210,089
- Current portion of long-term debt +€90,452
up €90,452 (+99.6%), from €90,835 to €181,287
- Short-term financial debts +€50,000
new in 2025: €50,000
- Reserves +€42,312
up €42,312 (+185.2%), from €22,853 to €65,165
- Staff costs +€76,984
up €76,984 (+113.5%), from €67,840 to €144,824
- Gross operating margin -€58,530
down €58,530 (-15.9%), from €368,622 to €310,091
- Taxes -€33,029
down €33,029 (-70.6%), from €46,771 to €13,742
- Depreciation +€30,868
up €30,868 (+43.9%), from €70,246 to €101,113
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 | €774,217 | €1,375,788 | +€601,571 | +77.7% |
| Fixed assets | 21/28 | €373,923 | €1,168,578 | +€794,655 | +212.5% |
| Intangible fixed assets | 21 | €305,153 | €1,005,076 | +€699,923 | +229.4% |
| Tangible fixed assets | 22/27 | €68,770 | €163,502 | +€94,732 | +137.8% |
| Plant, machinery and equipment | 23 | €7,787 | €12,543 | +€4,755 | +61.1% |
| Furniture and vehicles | 24 | €60,344 | €65,395 | +€5,051 | +8.4% |
| Other tangible fixed assets | 26 | €639 | €85,565 | +€84,926 | +13296.7% |
| Current assets | 29/58 | €400,294 | €207,210 | -€193,084 | -48.2% |
| Amounts receivable within one year | 40/41 | €97,198 | €135,027 | +€37,829 | +38.9% |
| Trade receivables | 40 | €14,646 | €72,406 | +€57,761 | +394.4% |
| Other amounts receivable | 41 | €82,552 | €62,620 | -€19,932 | -24.1% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €295,594 | €61,896 | -€233,698 | -79.1% |
| Deferred charges and accrued income | 490/1 | €7,503 | €10,288 | +€2,785 | +37.1% |
| Total equity and liabilities | 10/49 | €774,217 | €1,375,788 | +€601,571 | +77.7% |
| Equity | 10/15 | €34,853 | €77,165 | +€42,312 | +121.4% |
| Contributions | 10/11 | €12,000 | €12,000 | = | 0.0% |
| Reserves | 13 | €22,853 | €65,165 | +€42,312 | +185.2% |
| Distributable reserves | 133 | €22,853 | €65,165 | +€42,312 | +185.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €739,364 | €1,298,623 | +€559,259 | +75.6% |
| Amounts payable after more than one year | 17 | €135,028 | €747,369 | +€612,341 | +453.5% |
| Financial debts | 170/4 | €135,028 | €747,369 | +€612,341 | +453.5% |
| Amounts payable within one year | 42/48 | €602,353 | €550,501 | -€51,851 | -8.6% |
| Current portion of amounts payable after more than one year | 42 | €90,835 | €181,287 | +€90,452 | +99.6% |
| Financial debts | 43 | - | €50,000 | +€50,000 | |
| Credit institutions | 430/8 | - | €50,000 | +€50,000 | |
| Trade debts | 44 | €33,776 | €61,295 | +€27,519 | +81.5% |
| Suppliers | 440/4 | €33,776 | €61,295 | +€27,519 | +81.5% |
| Taxes, remuneration and social security | 45 | €21,762 | €47,831 | +€26,069 | +119.8% |
| Taxes | 450/3 | €3,852 | €8,564 | +€4,712 | +122.3% |
| Remuneration and social security | 454/9 | €17,910 | €39,267 | +€21,357 | +119.2% |
| Other amounts payable | 47/48 | €455,979 | €210,089 | -€245,891 | -53.9% |
| Accrued charges and deferred income | 492/3 | €1,984 | €753 | -€1,231 | -62.1% |
| Remuneration, social security and pensions | 62 | €67,840 | €144,824 | +€76,984 | +113.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €70,246 | €101,113 | +€30,868 | +43.9% |
| Other operating charges | 640/8 | €1,634 | €1,400 | -€234 | -14.3% |
| Gross operating margin | 9900 | €368,622 | €310,091 | -€58,530 | -15.9% |
| Operating profit (loss) | 9901 | €228,902 | €62,754 | -€166,148 | -72.6% |
| Financial income | 75/76B | €3,871 | €1,365 | -€2,505 | -64.7% |
| Recurring financial income | 75 | €3,871 | €1,365 | -€2,505 | -64.7% |
| Financial charges | 65/66B | €4,673 | €8,065 | +€3,392 | +72.6% |
| Recurring financial charges | 65 | €4,673 | €8,065 | +€3,392 | +72.6% |
| Profit (loss) for the period before taxes | 9903 | €228,100 | €56,054 | -€172,045 | -75.4% |
| Income taxes | 67/77 | €46,771 | €13,742 | -€33,029 | -70.6% |
| Profit (loss) for the period | 9904 | €181,329 | €42,312 | -€139,016 | -76.7% |
| Profit (loss) for the period to be appropriated | 9905 | €181,329 | €42,312 | -€139,016 | -76.7% |
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 8 October 2026 via checked.be.