AVG PARTNERS: what changed
What changed
AVG PARTNERS
NACE 64.210, Activities of holding companies
filed annual accounts (NBB)
Net result for the year
€15,339
2024 · -€131,687+€147,025
Equity
€183,652
2024 · €168,313+€15,339
Cash
€47,290
2024 · €38,110+€9,180
Balance sheet total
€4.4m
2024 · €2.9m+€1.5m
Largest movements
Assets
- Financial fixed assets +€1.4m
up €1.4m (+48.9%), from €2.8m to €4.1m
- Receivables within one year +€100,179
up €100,179 (+108%), from €92,436 to €192,615
of which Other amounts receivable: +€179,820
Equity and liabilities
- Debts after one year +€813,103
up €813,103 (+36.5%), from €2.2m to €3.0m
- Other debts +€584,797
up €584,797 (+269%), from €217,218 to €802,015
Income statement
- Gross operating margin +€214,281
up €214,281, from -€10,890 to €203,391
- Staff costs +€73,375
up €73,375 (+850%), from €8,635 to €82,010
- Financial charges -€7,084
down €7,084 (-6.3%), from €112,136 to €105,052
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
-€131,687
Gross operating margin
+€214,281
Staff costs
-€73,375
Depreciation
-€406
Other operating charges
-€381
Financial charges
+€7,084
Taxes
-€177
Result 2025
€15,339
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€521,545
Investment
-€1.4m
Financing
+€845,634
Cash 2024
€38,110
From operations (derived)
+€521,545
Net result for the year
+€15,339
Depreciation
+€406
Receivables within one year
-€100,179
Smaller working-capital items
-€1,146
Trade debts
+€9,450
Tax, wage and social debts
+€12,879
Other debts
+€584,797
Investment (derived)
-€1.4m
Investment in fixed assets (net)
-€1.4m
Financing
+€845,634
Debts after one year
+€813,103
Current portion of long-term debt
+€32,531
Cash 2025
€47,290
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,922,546 | €4,390,283 | +€1.5m | +50.2% |
| Fixed assets | 21/28 | €2,762,000 | €4,119,594 | +€1.4m | +49.2% |
| Intangible fixed assets | 21 | - | €7,594 | +€7,594 | |
| Financial fixed assets | 28 | €2,762,000 | €4,112,000 | +€1.4m | +48.9% |
| Current assets | 29/58 | €160,546 | €270,689 | +€110,143 | +68.6% |
| Amounts receivable after more than one year | 29 | €30,000 | €30,000 | = | 0.0% |
| Other amounts receivable | 291 | €30,000 | €30,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €92,436 | €192,615 | +€100,179 | +108% |
| Trade receivables | 40 | €92,436 | €12,795 | -€79,641 | -86.2% |
| Other amounts receivable | 41 | - | €179,820 | +€179,820 | |
| Cash at bank and in hand | 54/58 | €38,110 | €47,290 | +€9,180 | +24.1% |
| Deferred charges and accrued income | 490/1 | - | €784 | +€784 | |
| Total equity and liabilities | 10/49 | €2,922,546 | €4,390,283 | +€1.5m | +50.2% |
| Equity | 10/15 | €168,313 | €183,652 | +€15,339 | +9.1% |
| Contributions | 10/11 | €300,000 | €300,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€131,687 | -€116,348 | +€15,339 | +11.6% |
| Amounts payable | 17/49 | €2,754,233 | €4,206,631 | +€1.5m | +52.7% |
| Amounts payable after more than one year | 17 | €2,225,422 | €3,038,525 | +€813,103 | +36.5% |
| Financial debts | 170/4 | €2,225,422 | €3,038,525 | +€813,103 | +36.5% |
| Amounts payable within one year | 42/48 | €523,695 | €1,163,352 | +€639,657 | +122% |
| Current portion of amounts payable after more than one year | 42 | €234,257 | €266,788 | +€32,531 | +13.9% |
| Trade debts | 44 | €65,517 | €74,967 | +€9,450 | +14.4% |
| Suppliers | 440/4 | €65,517 | €74,967 | +€9,450 | +14.4% |
| Taxes, remuneration and social security | 45 | €6,703 | €19,582 | +€12,879 | +192% |
| Taxes | 450/3 | €4,316 | €6,879 | +€2,563 | +59.4% |
| Remuneration and social security | 454/9 | €2,388 | €12,703 | +€10,315 | +432% |
| Other amounts payable | 47/48 | €217,218 | €802,015 | +€584,797 | +269% |
| Accrued charges and deferred income | 492/3 | €5,116 | €4,754 | -€362 | -7.1% |
| Remuneration, social security and pensions | 62 | €8,635 | €82,010 | +€73,375 | +850% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €406 | +€406 | |
| Other operating charges | 640/8 | - | €381 | +€381 | |
| Gross operating margin | 9900 | -€10,890 | €203,391 | +€214,281 | |
| Operating profit (loss) | 9901 | -€19,525 | €120,593 | +€140,118 | |
| Financial charges | 65/66B | €112,136 | €105,052 | -€7,084 | -6.3% |
| Recurring financial charges | 65 | €112,136 | €105,052 | -€7,084 | -6.3% |
| Profit (loss) for the period before taxes | 9903 | -€131,661 | €15,541 | +€147,203 | |
| Income taxes | 67/77 | €25 | €203 | +€177 | +699% |
| Profit (loss) for the period | 9904 | -€131,687 | €15,339 | +€147,025 | |
| Profit (loss) for the period to be appropriated | 9905 | -€131,687 | €15,339 | +€147,025 |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.