AVICOBRA: what changed
Two fiscal 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.
AVICOBRA
Largest movements
- Cash +€658,780
up €658,780 (+392.9%), from €167,679 to €826,459
mainly Net result for the year (+€329,079) and Tax, wage and social debts (+€127,992)
- Current investments -€125,000
down €125,000 (-100.0%), from €125,000 to €0
- Tangible fixed assets -€43,230
down €43,230 (-26.4%), from €163,797 to €120,567
- Reserves +€322,413
up €322,413 (+181.3%), from €177,819 to €500,232
- Tax, wage and social debts +€127,992
up €127,992 (+412.9%), from €30,999 to €158,991
of which Taxes: +€127,992
- Trade debts +€36,548
up €36,548 (+117.5%), from €31,115 to €67,662
- Other debts +€20,150
up €20,150 (+22.4%), from €89,905 to €110,055
- Debts after one year -€10,714
down €10,714 (-12.2%), from €87,857 to €77,143
- Gross operating margin +€338,332
up €338,332 (+165.8%), from €204,120 to €542,452
- Taxes +€111,458
up €111,458 (+257.2%), from €43,333 to €154,791
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 | €481,474 | €977,862 | +€496,388 | +103.1% |
| Fixed assets | 21/28 | €163,797 | €120,567 | -€43,230 | -26.4% |
| Tangible fixed assets | 22/27 | €163,797 | €120,567 | -€43,230 | -26.4% |
| Land and buildings | 22 | €76,989 | €58,615 | -€18,374 | -23.9% |
| Plant, machinery and equipment | 23 | €44,884 | €36,429 | -€8,455 | -18.8% |
| Furniture and vehicles | 24 | €41,925 | €25,523 | -€16,401 | -39.1% |
| Current assets | 29/58 | €317,677 | €857,295 | +€539,618 | +169.9% |
| Amounts receivable within one year | 40/41 | €24,998 | €30,836 | +€5,838 | +23.4% |
| Trade receivables | 40 | €24,998 | €30,836 | +€5,838 | +23.4% |
| Current investments | 50/53 | €125,000 | €0 | -€125,000 | -100.0% |
| Cash at bank and in hand | 54/58 | €167,679 | €826,459 | +€658,780 | +392.9% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €481,474 | €977,862 | +€496,388 | +103.1% |
| Equity | 10/15 | €230,884 | €553,297 | +€322,413 | +139.6% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €177,819 | €500,232 | +€322,413 | +181.3% |
| Distributable reserves | 133 | €177,819 | €500,232 | +€322,413 | +181.3% |
| Profit (loss) carried forward | 14 | €3,065 | €3,065 | = | 0.0% |
| Amounts payable | 17/49 | €250,589 | €424,565 | +€173,975 | +69.4% |
| Amounts payable after more than one year | 17 | €87,857 | €77,143 | -€10,714 | -12.2% |
| Financial debts | 170/4 | €87,857 | €77,143 | -€10,714 | -12.2% |
| Amounts payable within one year | 42/48 | €162,733 | €347,422 | +€184,689 | +113.5% |
| Current portion of amounts payable after more than one year | 42 | €10,714 | €10,714 | = | 0.0% |
| Trade debts | 44 | €31,115 | €67,662 | +€36,548 | +117.5% |
| Suppliers | 440/4 | €31,115 | €67,662 | +€36,548 | +117.5% |
| Taxes, remuneration and social security | 45 | €30,999 | €158,991 | +€127,992 | +412.9% |
| Taxes | 450/3 | €30,999 | €158,991 | +€127,992 | +412.9% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €89,905 | €110,055 | +€20,150 | +22.4% |
| Non-recurring operating income | 76A | €25,000 | €0 | -€25,000 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,063 | €43,230 | -€832 | -1.9% |
| Other operating charges | 640/8 | €5,367 | €5,371 | +€4 | +0.1% |
| Gross operating margin | 9900 | €204,120 | €542,452 | +€338,332 | +165.8% |
| Operating profit (loss) | 9901 | €154,690 | €493,850 | +€339,160 | +219.3% |
| Financial income | 75/76B | €1,412 | €1,568 | +€156 | +11.0% |
| Recurring financial income | 75 | €1,412 | €1,568 | +€156 | +11.0% |
| Financial charges | 65/66B | €11,405 | €11,548 | +€143 | +1.3% |
| Recurring financial charges | 65 | €11,405 | €11,548 | +€143 | +1.3% |
| Profit (loss) for the period before taxes | 9903 | €144,697 | €483,870 | +€339,173 | +234.4% |
| Income taxes | 67/77 | €43,333 | €154,791 | +€111,458 | +257.2% |
| Profit (loss) for the period | 9904 | €101,364 | €329,079 | +€227,715 | +224.7% |
| Profit (loss) for the period to be appropriated | 9905 | €101,364 | €329,079 | +€227,715 | +224.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.