AVEVE: 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.
What changed
AVEVE
NACE 47.120, Other non-specialised retail sale
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€4.2m
2024 · -€1.3m-€2.9m
Equity
€43.0m
2024 · €5.4m+€37.6m
Cash
€1.9m
2024 · €2.0m-€64,820
Balance sheet total
€259.6m
2024 · €264.7m-€5.1m
Largest movements
Assets
- Receivables within one year -€5.6m
down €5.6m (-7.8%), from €72.4m to €66.8m
of which Trade receivables: -€4.5m
- Stocks and contracts +€3.0m
up €3.0m (+4.2%), from €72.7m to €75.7m
- Intangible fixed assets -€2.8m
down €2.8m (-12.4%), from €22.6m to €19.8m
Equity and liabilities
- Debts after one year -€50.7m
down €50.7m (-71.7%), from €70.7m to €20.0m
- Contributions +€21.2m
up €21.2m (+101.3%), from €20.9m to €42.1m
- Profit (loss) carried forward +€16.4m
up €16.4m, from -€16.4m to €0
- Short-term financial debts -€10.1m
down €10.1m (-10.2%), from €99.4m to €89.3m
of which Other loans: -€10.2m
- Trade debts +€9.6m
up €9.6m (+12.7%), from €75.8m to €85.4m
Income statement
- Services and other goods -€30.5m
down €30.5m (-20.9%), from €146.0m to €115.5m
- Staff costs +€28.3m
up €28.3m (+2225.6%), from €1.3m to €29.5m
- Financial income -€16.0m
down €16.0m (-93.7%), from €17.1m to €1.1m
of which Financial income: -€16.2m
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.
Result 2024
-€1.3m
Turnover
+€2.9m
Other operating income
+€1.6m
Goods and materials
-€2.3m
Services and other goods
+€30.5m
Staff costs
-€28.3m
Depreciation
+€455,303
Write-downs
-€716,262
Provisions
-€538,123
Other operating charges
-€112,889
Other operating items
+€3.8m
Financial income
-€16.0m
Financial charges
+€5.8m
Taxes
-€11,163
Deferred taxes and other
-€9,987
Result 2025
-€4.2m
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.
From operations
+€36.5m
Investment
-€17.4m
Financing
-€19.2m
Cash 2024
€2.0m
From operations (derived)
+€36.5m
Net result for the year
-€4.2m
Depreciation
+€19.9m
Smaller working-capital items
-€62,681
Stocks and contracts
-€3.0m
Receivables within one year
+€5.6m
Provisions
+€249,361
Trade debts
+€9.6m
Tax, wage and social debts
+€8.1m
Advances received
+€411,523
Accrued charges and deferred income
-€128,526
Investment (derived)
-€17.4m
Investment in fixed assets (net)
-€17.4m
Financing
-€19.2m
Debts after one year
-€50.7m
Current portion of long-term debt
-€198,032
Short-term financial debts
-€10.1m
Contributions, distributions and other
+€41.8m
Cash 2025
€1.9m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €264,663,128 | €259,597,298 | -€5.1m | -1.9% |
| Formation expenses | 20 | €374 | €0 | -€374 | -100.0% |
| Fixed assets | 21/28 | €115,564,724 | €113,093,301 | -€2.5m | -2.1% |
| Intangible fixed assets | 21 | €22,574,488 | €19,764,553 | -€2.8m | -12.4% |
| Tangible fixed assets | 22/27 | €92,626,678 | €90,881,083 | -€1.7m | -1.9% |
| Land and buildings | 22 | €71,074,221 | €67,700,815 | -€3.4m | -4.7% |
| Plant, machinery and equipment | 23 | €14,721,398 | €15,470,554 | +€749,156 | +5.1% |
| Furniture and vehicles | 24 | €2,701,262 | €2,581,436 | -€119,826 | -4.4% |
| Other tangible fixed assets | 26 | €1,824,032 | €1,396,333 | -€427,699 | -23.4% |
| Assets under construction and advance payments | 27 | €2,305,766 | €3,731,945 | +€1.4m | +61.9% |
| Financial fixed assets | 28 | €363,558 | €2,447,665 | +€2.1m | +573.3% |
| Affiliated companies | 280/1 | - | €2,031,766 | +€2.0m | |
| Participating interests | 280 | - | €2,031,766 | +€2.0m | |
| Other financial fixed assets | 284/8 | €363,558 | €415,899 | +€52,341 | +14.4% |
| Shares | 284 | €201,029 | €223,219 | +€22,190 | +11.0% |
| Amounts receivable and cash guarantees | 285/8 | €162,528 | €192,680 | +€30,151 | +18.6% |
| Current assets | 29/58 | €149,098,029 | €146,503,997 | -€2.6m | -1.7% |
| Amounts receivable after more than one year | 29 | €768,129 | €743,940 | -€24,189 | -3.1% |
| Other amounts receivable | 291 | €768,129 | €743,940 | -€24,189 | -3.1% |
| Stocks and contracts in progress | 3 | €72,706,418 | €75,742,277 | +€3.0m | +4.2% |
| Stocks | 30/36 | €72,706,418 | €75,742,277 | +€3.0m | +4.2% |
| Raw materials and consumables | 30/31 | €21,260,743 | €19,819,879 | -€1.4m | -6.8% |
| Work in progress | 32 | €1,776,805 | €1,281,538 | -€495,267 | -27.9% |
| Finished goods | 33 | €3,595,040 | €2,915,387 | -€679,653 | -18.9% |
| Goods purchased for resale | 34 | €46,073,829 | €51,725,473 | +€5.7m | +12.3% |
| Amounts receivable within one year | 40/41 | €72,409,134 | €66,790,850 | -€5.6m | -7.8% |
| Trade receivables | 40 | €65,551,954 | €61,070,537 | -€4.5m | -6.8% |
| Other amounts receivable | 41 | €6,857,180 | €5,720,313 | -€1.1m | -16.6% |
| Current investments | 50/53 | €4,114 | €4,114 | = | 0.0% |
| Other investments | 51/53 | €4,114 | €4,114 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €1,980,324 | €1,915,504 | -€64,820 | -3.3% |
| Deferred charges and accrued income | 490/1 | €1,229,910 | €1,307,312 | +€77,402 | +6.3% |
| Total equity and liabilities | 10/49 | €264,663,128 | €259,597,298 | -€5.1m | -1.9% |
| Equity | 10/15 | €5,368,928 | €43,008,066 | +€37.6m | +701.1% |
| Contributions | 10/11 | €20,923,151 | €42,110,661 | +€21.2m | +101.3% |
| Revaluation surpluses | 12 | €29,601 | €29,601 | = | 0.0% |
| Reserves | 13 | €793,370 | €867,804 | +€74,435 | +9.4% |
| Non-distributable reserves | 130/1 | €58,992 | €59,002 | +€10 | 0.0% |
| Other | 1319 | €58,992 | €59,002 | +€10 | 0.0% |
| Tax-exempt reserves | 132 | €734,378 | €709,676 | -€24,702 | -3.4% |
| Distributable reserves | 133 | - | €99,127 | +€99,127 | |
| Profit (loss) carried forward | 14 | -€16,377,194 | €0 | +€16.4m | |
| Provisions and deferred taxes | 16 | €3,610,950 | €3,860,311 | +€249,361 | +6.9% |
| Provisions for liabilities and charges | 160/5 | €2,892,687 | €3,287,153 | +€394,465 | +13.6% |
| Environmental obligations | 163 | €484,471 | €504,112 | +€19,641 | +4.1% |
| Other liabilities and charges | 164/5 | €2,408,216 | €2,783,041 | +€374,825 | +15.6% |
| Deferred taxes | 168 | €718,263 | €573,158 | -€145,105 | -20.2% |
| Amounts payable | 17/49 | €255,683,250 | €212,728,920 | -€43.0m | -16.8% |
| Amounts payable after more than one year | 17 | €70,678,515 | €20,005,351 | -€50.7m | -71.7% |
| Financial debts | 170/4 | €70,678,515 | €20,005,351 | -€50.7m | -71.7% |
| Credit institutions | 173 | €70,678,515 | €20,005,351 | -€50.7m | -71.7% |
| Amounts payable within one year | 42/48 | €183,910,285 | €191,757,645 | +€7.8m | +4.3% |
| Current portion of amounts payable after more than one year | 42 | €871,196 | €673,164 | -€198,032 | -22.7% |
| Financial debts | 43 | €99,441,069 | €89,321,563 | -€10.1m | -10.2% |
| Credit institutions | 430/8 | - | €86,975 | +€86,975 | |
| Other loans | 439 | €99,441,069 | €89,234,588 | -€10.2m | -10.3% |
| Trade debts | 44 | €75,812,652 | €85,434,962 | +€9.6m | +12.7% |
| Suppliers | 440/4 | €75,812,652 | €85,434,962 | +€9.6m | +12.7% |
| Advances received on contracts in progress | 46 | €4,637,276 | €5,048,799 | +€411,523 | +8.9% |
| Taxes, remuneration and social security | 45 | €2,948,168 | €11,088,701 | +€8.1m | +276.1% |
| Taxes | 450/3 | €2,717,719 | €4,328,041 | +€1.6m | +59.3% |
| Remuneration and social security | 454/9 | €230,449 | €6,760,660 | +€6.5m | +2833.7% |
| Other amounts payable | 47/48 | €199,924 | €190,456 | -€9,468 | -4.7% |
| Accrued charges and deferred income | 492/3 | €1,094,450 | €965,924 | -€128,526 | -11.7% |
| Operating income | 70/76A | €785,894,440 | €793,067,298 | +€7.2m | +0.9% |
| Turnover | 70 | €776,375,030 | €779,273,006 | +€2.9m | +0.4% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | -€7,142,302 | -€6,647,386 | +€494,916 | +6.9% |
| Own construction capitalised | 72 | - | €127,400 | +€127,400 | |
| Other operating income | 74 | €15,744,618 | €17,342,394 | +€1.6m | +10.1% |
| Non-recurring operating income | 76A | €917,094 | €2,971,884 | +€2.1m | +224.1% |
| Operating charges | 60/66A | €795,111,780 | €794,954,846 | -€156,934 | 0.0% |
| Goods for resale, raw materials and consumables | 60 | €624,627,111 | €626,957,365 | +€2.3m | +0.4% |
| Purchases | 600/8 | €628,134,641 | €636,363,293 | +€8.2m | +1.3% |
| Change in stocks: decrease (increase) | 609 | -€3,507,530 | -€9,405,928 | -€5.9m | -168.2% |
| Services and other goods | 61 | €146,012,409 | €115,530,345 | -€30.5m | -20.9% |
| Remuneration, social security and pensions | 62 | €1,269,465 | €29,522,948 | +€28.3m | +2225.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,337,581 | €19,882,279 | -€455,303 | -2.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€1,676,458 | -€960,196 | +€716,262 | +42.7% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€200,481 | €337,641 | +€538,123 | |
| Other operating charges | 640/8 | €2,977,669 | €3,090,558 | +€112,889 | +3.8% |
| Non-recurring operating charges | 66A | €1,764,484 | €593,906 | -€1.2m | -66.3% |
| Operating profit (loss) | 9901 | -€9,217,340 | -€1,887,547 | +€7.3m | +79.5% |
| Financial income | 75/76B | €17,060,346 | €1,080,963 | -€16.0m | -93.7% |
| Recurring financial income | 75 | €17,060,346 | €849,613 | -€16.2m | -95.0% |
| Income from financial fixed assets | 750 | €157,199 | €29,130 | -€128,069 | -81.5% |
| Income from current assets | 751 | €3,642,525 | €314,018 | -€3.3m | -91.4% |
| Other financial income | 752/9 | €13,260,622 | €506,465 | -€12.8m | -96.2% |
| Non-recurring financial income | 76B | - | €231,350 | +€231,350 | |
| Financial charges | 65/66B | €9,323,839 | €3,516,088 | -€5.8m | -62.3% |
| Recurring financial charges | 65 | €9,311,412 | €3,501,249 | -€5.8m | -62.4% |
| Debt charges | 650 | €9,207,401 | €3,226,350 | -€6.0m | -65.0% |
| Other financial charges | 652/9 | €104,011 | €274,899 | +€170,887 | +164.3% |
| Non-recurring financial charges | 66B | €12,426 | €14,839 | +€2,413 | +19.4% |
| Profit (loss) for the period before taxes | 9903 | -€1,480,832 | -€4,322,672 | -€2.8m | -191.9% |
| Transfer from deferred taxes | 780 | €155,092 | €145,105 | -€9,987 | -6.4% |
| Income taxes | 67/77 | €4,081 | €15,244 | +€11,163 | +273.5% |
| Taxes | 670/3 | €4,081 | €15,244 | +€11,163 | +273.5% |
| Profit (loss) for the period | 9904 | -€1,329,822 | -€4,192,812 | -€2.9m | -215.3% |
| Transfer from tax-exempt reserves | 789 | €26,345 | €24,752 | -€1,594 | -6.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,303,476 | -€4,168,060 | -€2.9m | -219.8% |
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 2 October 2026 via checked.be.