AVIADOR: 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.
AVIADOR
Largest movements
- Receivables within one year +€61,351
up €61,351 (+71.0%), from €86,461 to €147,812
of which Trade receivables: +€36,054
- Current investments +€60,000
new in 2025: €60,000
- Cash -€28,262
down €28,262 (-19.8%), from €142,813 to €114,551
mainly Receivables within one year (-€61,351) and Current investments (-€60,000)
- Tangible fixed assets -€17,522
down €17,522 (-22.9%), from €76,548 to €59,026
of which Furniture and vehicles: -€20,454
- Deferred charges and accrued income -€5,111
down €5,111 (-12.3%), from €41,499 to €36,387
- Reserves +€42,974
up €42,974 (+17.3%), from €248,754 to €291,729
- Trade debts +€17,731
up €17,731 (+31.2%), from €56,802 to €74,533
- Accrued charges and deferred income +€9,127
up €9,127 (+403%), from €2,264 to €11,391
- Gross operating margin -€32,151
down €32,151 (-18.3%), from €175,390 to €143,239
- Taxes -€14,405
down €14,405 (-41.6%), from €34,653 to €20,248
- Depreciation +€6,518
up €6,518 (+32.6%), from €20,009 to €26,527
- Write-downs +€5,446
new in 2025: €5,446
- Staff costs +€5,106
up €5,106 (+12.8%), from €39,750 to €44,855
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 | €352,973 | €420,869 | +€67,896 | +19.2% |
| Fixed assets | 21/28 | €82,200 | €62,118 | -€20,082 | -24.4% |
| Intangible fixed assets | 21 | €5,602 | €3,042 | -€2,560 | -45.7% |
| Tangible fixed assets | 22/27 | €76,548 | €59,026 | -€17,522 | -22.9% |
| Plant, machinery and equipment | 23 | €3,658 | €6,644 | +€2,986 | +81.6% |
| Furniture and vehicles | 24 | €72,837 | €52,383 | -€20,454 | -28.1% |
| Other tangible fixed assets | 26 | €53 | - | -€53 | |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €270,773 | €358,751 | +€87,978 | +32.5% |
| Amounts receivable within one year | 40/41 | €86,461 | €147,812 | +€61,351 | +71.0% |
| Trade receivables | 40 | €77,128 | €113,182 | +€36,054 | +46.7% |
| Other amounts receivable | 41 | €9,333 | €34,630 | +€25,297 | +271% |
| Current investments | 50/53 | - | €60,000 | +€60,000 | |
| Cash at bank and in hand | 54/58 | €142,813 | €114,551 | -€28,262 | -19.8% |
| Deferred charges and accrued income | 490/1 | €41,499 | €36,387 | -€5,111 | -12.3% |
| Total equity and liabilities | 10/49 | €352,973 | €420,869 | +€67,896 | +19.2% |
| Equity | 10/15 | €267,354 | €310,329 | +€42,974 | +16.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €248,754 | €291,729 | +€42,974 | +17.3% |
| Distributable reserves | 133 | €248,754 | €291,729 | +€42,974 | +17.3% |
| Amounts payable | 17/49 | €85,619 | €110,540 | +€24,921 | +29.1% |
| Amounts payable within one year | 42/48 | €83,355 | €99,149 | +€15,794 | +18.9% |
| Trade debts | 44 | €56,802 | €74,533 | +€17,731 | +31.2% |
| Suppliers | 440/4 | €56,802 | €74,533 | +€17,731 | +31.2% |
| Taxes, remuneration and social security | 45 | €8,260 | €6,618 | -€1,642 | -19.9% |
| Remuneration and social security | 454/9 | €8,260 | €6,618 | -€1,642 | -19.9% |
| Other amounts payable | 47/48 | €18,293 | €17,998 | -€295 | -1.6% |
| Accrued charges and deferred income | 492/3 | €2,264 | €11,391 | +€9,127 | +403% |
| Non-recurring operating income | 76A | - | €2,479 | +€2,479 | |
| Remuneration, social security and pensions | 62 | €39,750 | €44,855 | +€5,106 | +12.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,009 | €26,527 | +€6,518 | +32.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €5,446 | +€5,446 | |
| Other operating charges | 640/8 | €2,269 | €3,322 | +€1,053 | +46.4% |
| Gross operating margin | 9900 | €175,390 | €143,239 | -€32,151 | -18.3% |
| Operating profit (loss) | 9901 | €113,362 | €63,089 | -€50,273 | -44.3% |
| Financial income | 75/76B | €219 | €1,159 | +€940 | +430% |
| Recurring financial income | 75 | €219 | €1,159 | +€940 | +430% |
| Financial charges | 65/66B | €257 | €166 | -€91 | -35.5% |
| Recurring financial charges | 65 | €257 | €166 | -€91 | -35.5% |
| Profit (loss) for the period before taxes | 9903 | €113,323 | €64,081 | -€49,242 | -43.5% |
| Income taxes | 67/77 | €34,653 | €20,248 | -€14,405 | -41.6% |
| Profit (loss) for the period | 9904 | €78,670 | €43,833 | -€34,837 | -44.3% |
| Profit (loss) for the period to be appropriated | 9905 | €78,670 | €43,833 | -€34,837 | -44.3% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.