AVEVE WARNEZ: what changed
Two financial 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.
AVEVE WARNEZ
Largest movements
- Tangible fixed assets -€27,547
down €27,547 (-31.9%), from €86,357 to €58,810
- Stocks and contracts +€22,920
up €22,920 (+5.2%), from €437,039 to €459,959
- Intangible fixed assets +€11,147
new in 2025: €11,147
- Cash +€9,722
up €9,722 (+14.6%), from €66,810 to €76,532
mainly Net result for the year (+€28,100) and Depreciation (+€28,093)
- Reserves +€28,100
up €28,100 (+10.3%), from €271,605 to €299,705
- Other debts -€15,233
down €15,233 (-8.4%), from €180,951 to €165,717
- Trade debts +€14,325
up €14,325 (+12.7%), from €112,583 to €126,907
- Tax, wage and social debts -€8,245
down €8,245 (-23.1%), from €35,642 to €27,397
of which Remuneration and social security: -€8,186
- Gross operating margin -€19,268
down €19,268 (-7.8%), from €247,450 to €228,182
- Staff costs -€19,003
down €19,003 (-11.4%), from €167,214 to €148,211
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.
Derived cash bridge
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 | €608,218 | €627,164 | +€18,946 | +3.1% |
| Fixed assets | 21/28 | €86,357 | €69,957 | -€16,400 | -19.0% |
| Intangible fixed assets | 21 | - | €11,147 | +€11,147 | |
| Tangible fixed assets | 22/27 | €86,357 | €58,810 | -€27,547 | -31.9% |
| Plant, machinery and equipment | 23 | €15,841 | €9,425 | -€6,416 | -40.5% |
| Furniture and vehicles | 24 | €19,171 | €10,882 | -€8,289 | -43.2% |
| Other tangible fixed assets | 26 | €51,345 | €38,503 | -€12,842 | -25.0% |
| Current assets | 29/58 | €521,860 | €557,206 | +€35,346 | +6.8% |
| Stocks and contracts in progress | 3 | €437,039 | €459,959 | +€22,920 | +5.2% |
| Stocks | 30/36 | €437,039 | €459,959 | +€22,920 | +5.2% |
| Amounts receivable within one year | 40/41 | €13,134 | €15,264 | +€2,130 | +16.2% |
| Trade receivables | 40 | €1,518 | €3,182 | +€1,664 | +110% |
| Other amounts receivable | 41 | €11,616 | €12,082 | +€466 | +4.0% |
| Cash at bank and in hand | 54/58 | €66,810 | €76,532 | +€9,722 | +14.6% |
| Deferred charges and accrued income | 490/1 | €4,878 | €5,451 | +€573 | +11.8% |
| Total equity and liabilities | 10/49 | €608,218 | €627,164 | +€18,946 | +3.1% |
| Equity | 10/15 | €279,042 | €307,142 | +€28,100 | +10.1% |
| Contributions | 10/11 | €7,437 | €7,437 | = | 0.0% |
| Reserves | 13 | €271,605 | €299,705 | +€28,100 | +10.3% |
| Distributable reserves | 133 | €271,605 | €299,705 | +€28,100 | +10.3% |
| Amounts payable | 17/49 | €329,175 | €320,022 | -€9,154 | -2.8% |
| Amounts payable within one year | 42/48 | €329,175 | €320,022 | -€9,154 | -2.8% |
| Trade debts | 44 | €112,583 | €126,907 | +€14,325 | +12.7% |
| Suppliers | 440/4 | €112,583 | €126,907 | +€14,325 | +12.7% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €35,642 | €27,397 | -€8,245 | -23.1% |
| Taxes | 450/3 | €2,087 | €2,028 | -€60 | -2.9% |
| Remuneration and social security | 454/9 | €33,555 | €25,369 | -€8,186 | -24.4% |
| Other amounts payable | 47/48 | €180,951 | €165,717 | -€15,233 | -8.4% |
| Remuneration, social security and pensions | 62 | €167,214 | €148,211 | -€19,003 | -11.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,307 | €28,093 | +€786 | +2.9% |
| Other operating charges | 640/8 | €2,473 | €1,832 | -€640 | -25.9% |
| Gross operating margin | 9900 | €247,450 | €228,182 | -€19,268 | -7.8% |
| Operating profit (loss) | 9901 | €50,457 | €50,045 | -€412 | -0.8% |
| Financial income | 75/76B | €0 | €69 | +€69 | +86,175% |
| Recurring financial income | 75 | €0 | €69 | +€69 | +86,175% |
| Financial charges | 65/66B | €12,352 | €11,677 | -€675 | -5.5% |
| Recurring financial charges | 65 | €12,352 | €11,677 | -€675 | -5.5% |
| Profit (loss) for the period before taxes | 9903 | €38,106 | €38,437 | +€332 | +0.9% |
| Income taxes | 67/77 | €10,333 | €10,337 | +€4 | 0.0% |
| Profit (loss) for the period | 9904 | €27,773 | €28,100 | +€327 | +1.2% |
| Profit (loss) for the period to be appropriated | 9905 | €27,773 | €28,100 | +€327 | +1.2% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.