Avesco: 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.
Avesco
Largest movements
- Current investments -€400,000
down €400,000 (-100.0%), from €400,000 to €0
- Cash +€378,705
up €378,705 (+548.1%), from €69,096 to €447,800
mainly Current investments (+€400,000) and Other debts (+€383,668)
- Tangible fixed assets -€31,189
down €31,189 (-2.6%), from €1.2m to €1.2m
of which Land and buildings: -€29,326
- Reserves -€411,239
down €411,239 (-37.8%), from €1.1m to €676,871
of which Distributable reserves: -€411,239
- Other debts +€383,668
up €383,668 (+123.0%), from €312,043 to €695,711
- Depreciation -€13,824
down €13,824 (-26.3%), from €52,650 to €38,826
- Financial charges -€4,614
down €4,614 (-16.4%), from €28,216 to €23,602
- Gross operating margin -€3,206
down €3,206 (-5.6%), from €57,189 to €53,983
- Financial income -€3,143
down €3,143 (-30.1%), from €10,437 to €7,293
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 | €2,079,225 | €2,030,433 | -€48,792 | -2.3% |
| Fixed assets | 21/28 | €1,504,451 | €1,473,263 | -€31,189 | -2.1% |
| Tangible fixed assets | 22/27 | €1,210,459 | €1,179,271 | -€31,189 | -2.6% |
| Land and buildings | 22 | €1,204,230 | €1,174,904 | -€29,326 | -2.4% |
| Plant, machinery and equipment | 23 | €5,465 | €3,812 | -€1,653 | -30.2% |
| Furniture and vehicles | 24 | €765 | €555 | -€210 | -27.5% |
| Financial fixed assets | 28 | €293,992 | €293,992 | = | 0.0% |
| Current assets | 29/58 | €574,774 | €557,170 | -€17,603 | -3.1% |
| Stocks and contracts in progress | 3 | €11,220 | €11,220 | = | 0.0% |
| Stocks | 30/36 | €11,220 | €11,220 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €90,321 | €96,760 | +€6,439 | +7.1% |
| Trade receivables | 40 | €30,565 | €29,344 | -€1,221 | -4.0% |
| Other amounts receivable | 41 | €59,756 | €67,416 | +€7,660 | +12.8% |
| Current investments | 50/53 | €400,000 | €0 | -€400,000 | -100.0% |
| Cash at bank and in hand | 54/58 | €69,096 | €447,800 | +€378,705 | +548.1% |
| Deferred charges and accrued income | 490/1 | €4,137 | €1,390 | -€2,747 | -66.4% |
| Total equity and liabilities | 10/49 | €2,079,225 | €2,030,433 | -€48,792 | -2.3% |
| Equity | 10/15 | €1,735,210 | €1,323,971 | -€411,239 | -23.7% |
| Contributions | 10/11 | €647,100 | €647,100 | = | 0.0% |
| Reserves | 13 | €1,088,110 | €676,871 | -€411,239 | -37.8% |
| Non-distributable reserves | 130/1 | €44,694 | €44,694 | = | 0.0% |
| Reserves not available under the articles | 1311 | €44,694 | €44,694 | = | 0.0% |
| Tax-exempt reserves | 132 | €759 | €759 | = | 0.0% |
| Distributable reserves | 133 | €1,042,656 | €631,417 | -€411,239 | -39.4% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €344,015 | €706,462 | +€362,447 | +105.4% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €344,015 | €706,462 | +€362,447 | +105.4% |
| Current portion of amounts payable after more than one year | 42 | €7,911 | €0 | -€7,911 | -100.0% |
| Trade debts | 44 | €13,116 | €104 | -€13,012 | -99.2% |
| Suppliers | 440/4 | €13,116 | €104 | -€13,012 | -99.2% |
| Taxes, remuneration and social security | 45 | €10,946 | €10,648 | -€298 | -2.7% |
| Taxes | 450/3 | €10,946 | €10,648 | -€298 | -2.7% |
| Other amounts payable | 47/48 | €312,043 | €695,711 | +€383,668 | +123.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €52,650 | €38,826 | -€13,824 | -26.3% |
| Other operating charges | 640/8 | €9,386 | €9,888 | +€502 | +5.3% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €57,189 | €53,983 | -€3,206 | -5.6% |
| Operating profit (loss) | 9901 | -€4,847 | €5,269 | +€10,116 | |
| Financial income | 75/76B | €10,437 | €7,293 | -€3,143 | -30.1% |
| Recurring financial income | 75 | €10,437 | €7,293 | -€3,143 | -30.1% |
| Financial charges | 65/66B | €28,216 | €23,602 | -€4,614 | -16.4% |
| Recurring financial charges | 65 | €28,216 | €23,602 | -€4,614 | -16.4% |
| Profit (loss) for the period before taxes | 9903 | -€22,627 | -€11,039 | +€11,587 | +51.2% |
| Income taxes | 67/77 | €188 | €200 | +€12 | +6.3% |
| Profit (loss) for the period | 9904 | -€22,815 | -€11,239 | +€11,576 | +50.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€22,815 | -€11,239 | +€11,576 | +50.7% |
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 4 October 2026 via checked.be.