AVICENSO: 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.
What changed
AVICENSO
NACE 70.200, Business and other management consultancy
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€22,397
2024 · -€25,718+€48,115
Equity
€1.4m
2024 · €1.4m-€43,480
Cash
€80,614
2024 · €65,166+€15,448
Balance sheet total
€1.8m
2024 · €1.7m+€45,840
Largest movements
Assets
- Receivables within one year +€212,275
up €212,275 (+95.3%), from €222,814 to €435,089
of which Other amounts receivable: +€235,673
- Tangible fixed assets -€93,449
down €93,449 (-7.1%), from €1.3m to €1.2m
of which Land and buildings: -€58,762
- Receivables after one year -€60,796
down €60,796 (-61.4%), from €99,038 to €38,242
- Deferred charges and accrued income -€28,343
down €28,343 (-73.8%), from €38,421 to €10,078
Equity and liabilities
- Debts after one year +€94,139
up €94,139 (+115%), from €82,063 to €176,202
of which Financial debts: +€94,139
- Reserves -€42,621
down €42,621 (-3.1%), from €1.4m to €1.3m
of which Distributable reserves: -€42,621
Income statement
- Gross operating margin +€47,405
up €47,405 (+55.0%), from €86,129 to €133,534
- Taxes +€11,547
up €11,547 (+1,189%), from €971 to €12,519
- Financial income +€8,768
up €8,768 (+93.9%), from €9,336 to €18,104
- Depreciation -€4,258
down €4,258 (-4.0%), from €107,089 to €102,831
- Other operating charges -€1,795
down €1,795 (-17.0%), from €10,563 to €8,768
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.
Result 2024
-€25,718
Gross operating margin
+€47,405
Depreciation
+€4,258
Other operating charges
+€1,795
Financial income
+€8,768
Financial charges
-€1,329
Taxes
-€11,547
Deferred taxes and other
-€1,234
Result 2025
€22,397
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
-€4,366
Investment
-€9,383
Financing
+€29,197
Cash 2024
€65,166
From operations (derived)
-€4,366
Net result for the year
+€22,397
Depreciation
+€102,831
Receivables after one year
+€60,796
Stocks and contracts
-€705
Receivables within one year
-€212,275
Deferred charges and accrued income
+€28,343
Smaller working-capital items
+€70
Tax, wage and social debts
-€7,923
Accrued charges and deferred income
+€2,100
Investment (derived)
-€9,383
Investment in fixed assets (net)
-€9,383
Financing
+€29,197
Debts after one year
+€94,139
Current portion of long-term debt
+€934
Contributions, distributions and other
-€65,877
Cash 2025
€80,614
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,738,052 | €1,783,892 | +€45,840 | +2.6% |
| Fixed assets | 21/28 | €1,312,613 | €1,219,164 | -€93,449 | -7.1% |
| Tangible fixed assets | 22/27 | €1,312,613 | €1,219,164 | -€93,449 | -7.1% |
| Land and buildings | 22 | €1,206,007 | €1,147,244 | -€58,762 | -4.9% |
| Plant, machinery and equipment | 23 | €2,158 | €2,549 | +€391 | +18.1% |
| Furniture and vehicles | 24 | €104,448 | €69,370 | -€35,078 | -33.6% |
| Current assets | 29/58 | €425,439 | €564,728 | +€139,289 | +32.7% |
| Amounts receivable after more than one year | 29 | €99,038 | €38,242 | -€60,796 | -61.4% |
| Other amounts receivable | 291 | €99,038 | €38,242 | -€60,796 | -61.4% |
| Stocks and contracts in progress | 3 | - | €705 | +€705 | |
| Stocks | 30/36 | - | €705 | +€705 | |
| Amounts receivable within one year | 40/41 | €222,814 | €435,089 | +€212,275 | +95.3% |
| Trade receivables | 40 | €25,589 | €2,191 | -€23,398 | -91.4% |
| Other amounts receivable | 41 | €197,225 | €432,898 | +€235,673 | +119% |
| Cash at bank and in hand | 54/58 | €65,166 | €80,614 | +€15,448 | +23.7% |
| Deferred charges and accrued income | 490/1 | €38,421 | €10,078 | -€28,343 | -73.8% |
| Total equity and liabilities | 10/49 | €1,738,052 | €1,783,892 | +€45,840 | +2.6% |
| Equity | 10/15 | €1,449,676 | €1,406,196 | -€43,480 | -3.0% |
| Contributions | 10/11 | €12,600 | €12,600 | = | 0.0% |
| Reserves | 13 | €1,382,088 | €1,339,468 | -€42,621 | -3.1% |
| Non-distributable reserves | 130/1 | €1,260 | €1,260 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,260 | €1,260 | = | 0.0% |
| Tax-exempt reserves | 132 | €6,500 | €6,500 | = | 0.0% |
| Distributable reserves | 133 | €1,374,328 | €1,331,708 | -€42,621 | -3.1% |
| Profit (loss) carried forward | 14 | €54,988 | €54,129 | -€859 | -1.6% |
| Provisions and deferred taxes | 16 | €125,500 | €125,500 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €125,500 | €125,500 | = | 0.0% |
| Pensions and similar obligations | 160 | €122,500 | €122,500 | = | 0.0% |
| Major repairs and maintenance | 162 | €3,000 | €3,000 | = | 0.0% |
| Deferred taxes | 168 | €0 | - | = | |
| Amounts payable | 17/49 | €162,876 | €252,196 | +€89,320 | +54.8% |
| Amounts payable after more than one year | 17 | €82,063 | €176,202 | +€94,139 | +115% |
| Financial debts | 170/4 | €76,963 | €171,102 | +€94,139 | +122% |
| Other amounts payable | 178/9 | €5,100 | €5,100 | = | 0.0% |
| Amounts payable within one year | 42/48 | €77,435 | €70,515 | -€6,920 | -8.9% |
| Current portion of amounts payable after more than one year | 42 | €44,927 | €45,861 | +€934 | +2.1% |
| Trade debts | 44 | €4,814 | €4,858 | +€44 | +0.9% |
| Suppliers | 440/4 | €4,814 | €4,858 | +€44 | +0.9% |
| Taxes, remuneration and social security | 45 | €26,861 | €18,938 | -€7,923 | -29.5% |
| Taxes | 450/3 | €26,861 | €16,538 | -€10,323 | -38.4% |
| Remuneration and social security | 454/9 | - | €2,400 | +€2,400 | |
| Other amounts payable | 47/48 | €833 | €859 | +€26 | +3.1% |
| Accrued charges and deferred income | 492/3 | €3,378 | €5,479 | +€2,100 | +62.2% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €107,089 | €102,831 | -€4,258 | -4.0% |
| Other operating charges | 640/8 | €10,563 | €8,768 | -€1,795 | -17.0% |
| Gross operating margin | 9900 | €86,129 | €133,534 | +€47,405 | +55.0% |
| Operating profit (loss) | 9901 | -€31,523 | €21,935 | +€53,458 | |
| Financial income | 75/76B | €9,336 | €18,104 | +€8,768 | +93.9% |
| Recurring financial income | 75 | €9,336 | €18,104 | +€8,768 | +93.9% |
| Financial charges | 65/66B | €3,794 | €5,124 | +€1,329 | +35.0% |
| Recurring financial charges | 65 | €3,794 | €5,124 | +€1,329 | +35.0% |
| Profit (loss) for the period before taxes | 9903 | -€25,981 | €34,915 | +€60,896 | |
| Transfer from deferred taxes | 780 | €1,234 | €0 | -€1,234 | -100% |
| Income taxes | 67/77 | €971 | €12,519 | +€11,547 | +1,189% |
| Profit (loss) for the period | 9904 | -€25,718 | €22,397 | +€48,115 | |
| Transfer from tax-exempt reserves | 789 | €5,943 | €0 | -€5,943 | -100% |
| Profit (loss) for the period to be appropriated | 9905 | -€19,775 | €22,397 | +€42,172 |
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 16 October 2026 via checked.be.