AVGI: 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.
AVGI
Largest movements
- Current investments -€400,000
down €400,000 (-100%), from €400,000 to €0
- Cash +€254,984
up €254,984 (+35.7%), from €715,222 to €970,206
mainly Current investments (+€400,000) and Net result for the year (+€246,730)
- Receivables within one year +€140,456
up €140,456 (+75.9%), from €185,128 to €325,584
of which Trade receivables: +€137,264
- Other debts +€108,893
up €108,893 (+14.7%), from €739,009 to €847,902
- Accrued charges and deferred income -€71,391
down €71,391 (-65.6%), from €108,760 to €37,369
- Trade debts -€35,725
down €35,725 (-84.3%), from €42,374 to €6,649
- Reserves -€15,270
down €15,270 (-4.5%), from €337,976 to €322,706
of which Distributable reserves: -€15,270
- Gross operating margin +€345,494
up €345,494 (+104%), from €331,465 to €676,960
- Staff costs +€113,268
up €113,268 (+42.7%), from €265,181 to €378,448
- Financial income +€8,027
up €8,027, from €0 to €8,027
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 | €1,315,719 | €1,306,906 | -€8,812 | -0.7% |
| Fixed assets | 21/28 | €12,101 | €9,492 | -€2,609 | -21.6% |
| Tangible fixed assets | 22/27 | €9,155 | €6,546 | -€2,609 | -28.5% |
| Plant, machinery and equipment | 23 | €3,657 | €4,474 | +€817 | +22.3% |
| Furniture and vehicles | 24 | €5,497 | €2,072 | -€3,426 | -62.3% |
| Financial fixed assets | 28 | €2,946 | €2,946 | = | 0.0% |
| Current assets | 29/58 | €1,303,618 | €1,297,414 | -€6,204 | -0.5% |
| Amounts receivable within one year | 40/41 | €185,128 | €325,584 | +€140,456 | +75.9% |
| Trade receivables | 40 | €173,325 | €310,589 | +€137,264 | +79.2% |
| Other amounts receivable | 41 | €11,803 | €14,996 | +€3,193 | +27.1% |
| Current investments | 50/53 | €400,000 | €0 | -€400,000 | -100% |
| Cash at bank and in hand | 54/58 | €715,222 | €970,206 | +€254,984 | +35.7% |
| Deferred charges and accrued income | 490/1 | €3,268 | €1,623 | -€1,644 | -50.3% |
| Total equity and liabilities | 10/49 | €1,315,719 | €1,306,906 | -€8,812 | -0.7% |
| Equity | 10/15 | €356,576 | €341,306 | -€15,270 | -4.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €337,976 | €322,706 | -€15,270 | -4.5% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €336,116 | €320,846 | -€15,270 | -4.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €959,143 | €965,601 | +€6,458 | +0.7% |
| Amounts payable within one year | 42/48 | €850,383 | €928,232 | +€77,849 | +9.2% |
| Trade debts | 44 | €42,374 | €6,649 | -€35,725 | -84.3% |
| Suppliers | 440/4 | €42,374 | €6,649 | -€35,725 | -84.3% |
| Taxes, remuneration and social security | 45 | €69,000 | €73,681 | +€4,681 | +6.8% |
| Taxes | 450/3 | €0 | €9,228 | +€9,228 | |
| Remuneration and social security | 454/9 | €69,000 | €64,453 | -€4,547 | -6.6% |
| Other amounts payable | 47/48 | €739,009 | €847,902 | +€108,893 | +14.7% |
| Accrued charges and deferred income | 492/3 | €108,760 | €37,369 | -€71,391 | -65.6% |
| Remuneration, social security and pensions | 62 | €265,181 | €378,448 | +€113,268 | +42.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,364 | €4,386 | +€22 | +0.5% |
| Other operating charges | 640/8 | €193 | €1,120 | +€927 | +480% |
| Gross operating margin | 9900 | €331,465 | €676,960 | +€345,494 | +104% |
| Operating profit (loss) | 9901 | €61,727 | €293,005 | +€231,278 | +375% |
| Financial income | 75/76B | €0 | €8,027 | +€8,027 | |
| Recurring financial income | 75 | €0 | €8,027 | +€8,027 | |
| Financial charges | 65/66B | €45,763 | €51,083 | +€5,320 | +11.6% |
| Recurring financial charges | 65 | €45,763 | €51,083 | +€5,320 | +11.6% |
| Profit (loss) for the period before taxes | 9903 | €15,964 | €249,949 | +€233,985 | +1,466% |
| Income taxes | 67/77 | €3,322 | €3,219 | -€103 | -3.1% |
| Profit (loss) for the period | 9904 | €12,642 | €246,730 | +€234,088 | +1,852% |
| Profit (loss) for the period to be appropriated | 9905 | €12,642 | €246,730 | +€234,088 | +1,852% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.