AVICEN: 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.
AVICEN
Largest movements
- Cash -€44,352
down €44,352 (-80.9%), from €54,809 to €10,457
mainly Current portion of long-term debt (-€51,333) and Receivables within one year (-€43,908)
- Receivables within one year +€43,908
up €43,908 (+9.3%), from €474,320 to €518,227
of which Other amounts receivable: +€41,864
- Tangible fixed assets -€35,985
down €35,985 (-9.6%), from €376,269 to €340,284
of which Furniture and vehicles: -€36,610
- Intangible fixed assets +€10,000
new in 2025: €10,000
- Current portion of long-term debt -€51,333
down €51,333 (-80.8%), from €63,562 to €12,229
- Reserves +€20,504
up €20,504 (+22.3%), from €91,860 to €112,364
of which Distributable reserves: +€20,504
- Gross operating margin -€64,730
down €64,730 (-31.8%), from €203,470 to €138,740
- Staff costs -€50,944
no longer reported in 2025 (was €50,944)
- Taxes -€11,555
down €11,555 (-38.5%), from €30,000 to €18,445
- Depreciation -€4,790
down €4,790 (-9.9%), from €48,570 to €43,780
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.
Cash bridge derived
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 | €912,882 | €881,693 | -€31,188 | -3.4% |
| Fixed assets | 21/28 | €378,969 | €352,984 | -€25,985 | -6.9% |
| Intangible fixed assets | 21 | - | €10,000 | +€10,000 | |
| Tangible fixed assets | 22/27 | €376,269 | €340,284 | -€35,985 | -9.6% |
| Land and buildings | 22 | €315,800 | €286,000 | -€29,800 | -9.4% |
| Plant, machinery and equipment | 23 | - | €32,586 | +€32,586 | |
| Furniture and vehicles | 24 | €43,890 | €7,280 | -€36,610 | -83.4% |
| Other tangible fixed assets | 26 | €16,579 | €14,418 | -€2,162 | -13.0% |
| Financial fixed assets | 28 | €2,700 | €2,700 | = | 0.0% |
| Current assets | 29/58 | €533,913 | €528,709 | -€5,203 | -1.0% |
| Amounts receivable within one year | 40/41 | €474,320 | €518,227 | +€43,908 | +9.3% |
| Trade receivables | 40 | - | €2,043 | +€2,043 | |
| Other amounts receivable | 41 | €474,320 | €516,184 | +€41,864 | +8.8% |
| Cash at bank and in hand | 54/58 | €54,809 | €10,457 | -€44,352 | -80.9% |
| Deferred charges and accrued income | 490/1 | €4,784 | €25 | -€4,759 | -99.5% |
| Total equity and liabilities | 10/49 | €912,882 | €881,693 | -€31,188 | -3.4% |
| Equity | 10/15 | €613,889 | €634,394 | +€20,504 | +3.3% |
| Contributions | 10/11 | €6,300 | €6,300 | = | 0.0% |
| Reserves | 13 | €91,860 | €112,364 | +€20,504 | +22.3% |
| 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 | €90,000 | €110,504 | +€20,504 | +22.8% |
| Profit (loss) carried forward | 14 | €515,729 | €515,729 | = | 0.0% |
| Amounts payable | 17/49 | €298,992 | €247,300 | -€51,692 | -17.3% |
| Amounts payable after more than one year | 17 | €182,506 | €182,506 | = | 0.0% |
| Financial debts | 170/4 | €182,506 | €182,506 | = | 0.0% |
| Amounts payable within one year | 42/48 | €116,486 | €64,794 | -€51,692 | -44.4% |
| Current portion of amounts payable after more than one year | 42 | €63,562 | €12,229 | -€51,333 | -80.8% |
| Financial debts | 43 | - | €9 | +€9 | |
| Credit institutions | 430/8 | - | €9 | +€9 | |
| Trade debts | 44 | €7,376 | €1,507 | -€5,869 | -79.6% |
| Suppliers | 440/4 | €7,376 | €1,507 | -€5,869 | -79.6% |
| Taxes, remuneration and social security | 45 | - | €500 | +€500 | |
| Taxes | 450/3 | - | €500 | +€500 | |
| Other amounts payable | 47/48 | €45,548 | €50,548 | +€5,000 | +11.0% |
| Non-recurring operating income | 76A | - | €361 | +€361 | |
| Remuneration, social security and pensions | 62 | €50,944 | - | -€50,944 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €48,570 | €43,780 | -€4,790 | -9.9% |
| Other operating charges | 640/8 | €6,778 | €6,145 | -€633 | -9.3% |
| Gross operating margin | 9900 | €203,470 | €138,740 | -€64,730 | -31.8% |
| Operating profit (loss) | 9901 | €97,178 | €88,815 | -€8,363 | -8.6% |
| Financial income | 75/76B | €1,648 | €174 | -€1,474 | -89.4% |
| Recurring financial income | 75 | €1,648 | €174 | -€1,474 | -89.4% |
| Financial charges | 65/66B | €9,710 | €10,040 | +€330 | +3.4% |
| Recurring financial charges | 65 | €9,710 | €10,040 | +€330 | +3.4% |
| Profit (loss) for the period before taxes | 9903 | €89,116 | €78,949 | -€10,167 | -11.4% |
| Income taxes | 67/77 | €30,000 | €18,445 | -€11,555 | -38.5% |
| Profit (loss) for the period | 9904 | €59,116 | €60,504 | +€1,388 | +2.3% |
| Profit (loss) for the period to be appropriated | 9905 | €59,116 | €60,504 | +€1,388 | +2.3% |
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 11 October 2026 via checked.be.