AVG PROPERTIES: 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.
AVG PROPERTIES
Largest movements
- Intangible fixed assets +€229,953
up €229,953 (+245%), from €93,784 to €323,737
- Receivables within one year +€203,362
up €203,362 (+20.4%), from €995,440 to €1.2m
of which Trade receivables: +€120,839
- Cash -€78,304
down €78,304 (-30.7%), from €255,168 to €176,864
mainly Investment in fixed assets (net) (-€287,949) and Receivables within one year (-€203,362)
- Tangible fixed assets -€48,649
down €48,649 (-28.2%), from €172,343 to €123,695
of which Other tangible fixed assets: -€33,875
- Deferred charges and accrued income -€29,887
down €29,887 (-44.9%), from €66,553 to €36,666
- Trade debts +€176,029
up €176,029 (+22.5%), from €783,735 to €959,765
- Reserves +€167,429
up €167,429 (+36.4%), from €459,715 to €627,144
of which Distributable reserves: +€167,429
- Debts after one year -€74,442
down €74,442 (-54.0%), from €137,858 to €63,415
- Current portion of long-term debt +€70,963
up €70,963 (+119%), from €59,772 to €130,735
- Tax, wage and social debts -€50,911
down €50,911 (-51.5%), from €98,906 to €47,995
of which Taxes: -€39,895
- Gross operating margin +€135,656
up €135,656 (+20.6%), from €660,079 to €795,735
- Staff costs -€54,094
down €54,094 (-11.5%), from €471,581 to €417,487
- Taxes +€45,520
up €45,520 (+159%), from €28,692 to €74,211
- Depreciation +€24,395
up €24,395 (+29.6%), from €82,551 to €106,945
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 | €1,607,891 | €1,884,066 | +€276,175 | +17.2% |
| Fixed assets | 21/28 | €290,731 | €471,735 | +€181,004 | +62.3% |
| Intangible fixed assets | 21 | €93,784 | €323,737 | +€229,953 | +245% |
| Tangible fixed assets | 22/27 | €172,343 | €123,695 | -€48,649 | -28.2% |
| Land and buildings | 22 | €6,514 | €5,669 | -€845 | -13.0% |
| Plant, machinery and equipment | 23 | €23,143 | €13,749 | -€9,393 | -40.6% |
| Furniture and vehicles | 24 | €8,638 | €4,103 | -€4,536 | -52.5% |
| Other tangible fixed assets | 26 | €134,048 | €100,173 | -€33,875 | -25.3% |
| Financial fixed assets | 28 | €24,604 | €24,304 | -€300 | -1.2% |
| Current assets | 29/58 | €1,317,160 | €1,412,331 | +€95,171 | +7.2% |
| Amounts receivable within one year | 40/41 | €995,440 | €1,198,801 | +€203,362 | +20.4% |
| Trade receivables | 40 | €760,329 | €881,168 | +€120,839 | +15.9% |
| Other amounts receivable | 41 | €235,111 | €317,633 | +€82,523 | +35.1% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €255,168 | €176,864 | -€78,304 | -30.7% |
| Deferred charges and accrued income | 490/1 | €66,553 | €36,666 | -€29,887 | -44.9% |
| Total equity and liabilities | 10/49 | €1,607,891 | €1,884,066 | +€276,175 | +17.2% |
| Equity | 10/15 | €478,315 | €645,744 | +€167,429 | +35.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €459,715 | €627,144 | +€167,429 | +36.4% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €459,715 | €627,144 | +€167,429 | +36.4% |
| Amounts payable | 17/49 | €1,129,577 | €1,238,323 | +€108,746 | +9.6% |
| Amounts payable after more than one year | 17 | €137,858 | €63,415 | -€74,442 | -54.0% |
| Financial debts | 170/4 | €137,858 | €63,415 | -€74,442 | -54.0% |
| Amounts payable within one year | 42/48 | €991,719 | €1,138,495 | +€146,776 | +14.8% |
| Current portion of amounts payable after more than one year | 42 | €59,772 | €130,735 | +€70,963 | +119% |
| Financial debts | 43 | €49,306 | €0 | -€49,306 | -100% |
| Credit institutions | 430/8 | €44,603 | €0 | -€44,603 | -100% |
| Other loans | 439 | €4,703 | €0 | -€4,703 | -100% |
| Trade debts | 44 | €783,735 | €959,765 | +€176,029 | +22.5% |
| Suppliers | 440/4 | €783,735 | €959,765 | +€176,029 | +22.5% |
| Taxes, remuneration and social security | 45 | €98,906 | €47,995 | -€50,911 | -51.5% |
| Taxes | 450/3 | €47,190 | €7,295 | -€39,895 | -84.5% |
| Remuneration and social security | 454/9 | €51,716 | €40,700 | -€11,016 | -21.3% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | - | €36,413 | +€36,413 | |
| Non-recurring operating income | 76A | €5,500 | €4,630 | -€870 | -15.8% |
| Remuneration, social security and pensions | 62 | €471,581 | €417,487 | -€54,094 | -11.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €82,551 | €106,945 | +€24,395 | +29.6% |
| Other operating charges | 640/8 | €15,820 | €8,616 | -€7,204 | -45.5% |
| Non-recurring operating charges | 66A | €0 | €8,193 | +€8,193 | |
| Gross operating margin | 9900 | €660,079 | €795,735 | +€135,656 | +20.6% |
| Operating profit (loss) | 9901 | €90,128 | €254,494 | +€164,367 | +182% |
| Financial income | 75/76B | €3,374 | €2,320 | -€1,055 | -31.3% |
| Recurring financial income | 75 | €3,374 | €2,320 | -€1,055 | -31.3% |
| Financial charges | 65/66B | €16,800 | €15,174 | -€1,626 | -9.7% |
| Recurring financial charges | 65 | €16,800 | €15,174 | -€1,626 | -9.7% |
| Profit (loss) for the period before taxes | 9903 | €76,702 | €241,640 | +€164,938 | +215% |
| Income taxes | 67/77 | €28,692 | €74,211 | +€45,520 | +159% |
| Profit (loss) for the period | 9904 | €48,011 | €167,429 | +€119,418 | +249% |
| Profit (loss) for the period to be appropriated | 9905 | €48,011 | €167,429 | +€119,418 | +249% |
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 20 October 2026 via checked.be.