AVHL Management: 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.
AVHL Management
Largest movements
- Cash -€5,220
down €5,220 (-40.1%), from €13,008 to €7,788
mainly Tax, wage and social debts (-€11,254) and Investment in fixed assets (net) (-€809)
- Tangible fixed assets +€658
new in 2025: €658
- Receivables within one year +€605
up €605 (+11.1%), from €5,445 to €6,050
- Tax, wage and social debts -€11,254
down €11,254 (-90.3%), from €12,465 to €1,211
of which Remuneration and social security: -€7,243
- Other debts +€5,682
up €5,682 (+4,089%), from €139 to €5,821
- Reserves +€892
up €892 (+26.6%), from €3,349 to €4,241
- Trade debts +€723
new in 2025: €723
- Gross operating margin -€2,659
down €2,659 (-41.3%), from €6,435 to €3,776
- Taxes -€804
down €804 (-60.8%), from €1,321 to €518
- Financial charges +€331
up €331 (+18.7%), from €1,765 to €2,096
- Depreciation +€151
new in 2025: €151
- Other operating charges +€120
new in 2025: €120
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 | €18,453 | €14,497 | -€3,956 | -21.4% |
| Fixed assets | 21/28 | - | €658 | +€658 | |
| Tangible fixed assets | 22/27 | - | €658 | +€658 | |
| Plant, machinery and equipment | 23 | - | €658 | +€658 | |
| Current assets | 29/58 | €18,453 | €13,838 | -€4,615 | -25.0% |
| Amounts receivable within one year | 40/41 | €5,445 | €6,050 | +€605 | +11.1% |
| Trade receivables | 40 | €5,445 | €6,050 | +€605 | +11.1% |
| Cash at bank and in hand | 54/58 | €13,008 | €7,788 | -€5,220 | -40.1% |
| Total equity and liabilities | 10/49 | €18,453 | €14,497 | -€3,956 | -21.4% |
| Equity | 10/15 | €5,849 | €6,741 | +€892 | +15.3% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €3,349 | €4,241 | +€892 | +26.6% |
| Distributable reserves | 133 | €3,349 | €4,241 | +€892 | +26.6% |
| Amounts payable | 17/49 | €12,604 | €7,755 | -€4,849 | -38.5% |
| Amounts payable within one year | 42/48 | €12,604 | €7,755 | -€4,849 | -38.5% |
| Trade debts | 44 | - | €723 | +€723 | |
| Suppliers | 440/4 | - | €723 | +€723 | |
| Taxes, remuneration and social security | 45 | €12,465 | €1,211 | -€11,254 | -90.3% |
| Taxes | 450/3 | €5,222 | €1,211 | -€4,011 | -76.8% |
| Remuneration and social security | 454/9 | €7,243 | - | -€7,243 | |
| Other amounts payable | 47/48 | €139 | €5,821 | +€5,682 | +4,089% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €151 | +€151 | |
| Other operating charges | 640/8 | - | €120 | +€120 | |
| Gross operating margin | 9900 | €6,435 | €3,776 | -€2,659 | -41.3% |
| Operating profit (loss) | 9901 | €6,435 | €3,506 | -€2,930 | -45.5% |
| Financial charges | 65/66B | €1,765 | €2,096 | +€331 | +18.7% |
| Recurring financial charges | 65 | €1,765 | €2,096 | +€331 | +18.7% |
| Profit (loss) for the period before taxes | 9903 | €4,670 | €1,410 | -€3,261 | -69.8% |
| Income taxes | 67/77 | €1,321 | €518 | -€804 | -60.8% |
| Profit (loss) for the period | 9904 | €3,349 | €892 | -€2,457 | -73.4% |
| Profit (loss) for the period to be appropriated | 9905 | €3,349 | €892 | -€2,457 | -73.4% |
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 19 October 2026 via checked.be.