AVISO: 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.
AVISO
Largest movements
- Receivables within one year +€175,759
up €175,759 (+57.7%), from €304,362 to €480,122
- Other debts +€371,167
up €371,167 (+60.3%), from €615,253 to €986,420
- Reserves -€196,881
down €196,881 (-7.8%), from €2.5m to €2.3m
of which Distributable reserves: -€196,881
- Financial charges +€8,786
up €8,786 (+414.9%), from €2,118 to €10,903
- Financial income +€4,558
up €4,558 (+4.5%), from €102,066 to €106,624
- Gross operating margin -€522
down €522 (-1.3%), from -€39,947 to -€40,469
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 | €3,222,434 | €3,397,023 | +€174,589 | +5.4% |
| Fixed assets | 21/28 | €2,915,890 | €2,915,890 | = | 0.0% |
| Tangible fixed assets | 22/27 | €235,890 | €235,890 | = | 0.0% |
| Land and buildings | 22 | €235,890 | €235,890 | = | 0.0% |
| Financial fixed assets | 28 | €2,680,000 | €2,680,000 | = | 0.0% |
| Current assets | 29/58 | €306,544 | €481,133 | +€174,589 | +57.0% |
| Amounts receivable within one year | 40/41 | €304,362 | €480,122 | +€175,759 | +57.7% |
| Other amounts receivable | 41 | €304,362 | €480,122 | +€175,759 | +57.7% |
| Cash at bank and in hand | 54/58 | €2,182 | €1,012 | -€1,170 | -53.6% |
| Total equity and liabilities | 10/49 | €3,222,434 | €3,397,023 | +€174,589 | +5.4% |
| Equity | 10/15 | €2,597,668 | €2,400,787 | -€196,881 | -7.6% |
| Contributions | 10/11 | €64,710 | €64,710 | = | 0.0% |
| Capital | 10 | €64,710 | €64,710 | = | 0.0% |
| Issued capital | 100 | €64,710 | €64,710 | = | 0.0% |
| Reserves | 13 | €2,532,958 | €2,336,077 | -€196,881 | -7.8% |
| Non-distributable reserves | 130/1 | €188,003 | €188,003 | = | 0.0% |
| Legal reserve | 130 | €188,003 | €188,003 | = | 0.0% |
| Distributable reserves | 133 | €2,344,955 | €2,148,074 | -€196,881 | -8.4% |
| Amounts payable | 17/49 | €624,766 | €996,236 | +€371,470 | +59.5% |
| Amounts payable within one year | 42/48 | €624,766 | €996,236 | +€371,470 | +59.5% |
| Trade debts | 44 | €9,513 | €9,816 | +€303 | +3.2% |
| Suppliers | 440/4 | €9,513 | €9,816 | +€303 | +3.2% |
| Other amounts payable | 47/48 | €615,253 | €986,420 | +€371,167 | +60.3% |
| Other operating charges | 640/8 | €2,069 | €2,133 | +€64 | +3.1% |
| Gross operating margin | 9900 | -€39,947 | -€40,469 | -€522 | -1.3% |
| Operating profit (loss) | 9901 | -€42,016 | -€42,602 | -€585 | -1.4% |
| Financial income | 75/76B | €102,066 | €106,624 | +€4,558 | +4.5% |
| Recurring financial income | 75 | €102,066 | €106,624 | +€4,558 | +4.5% |
| Financial charges | 65/66B | €2,118 | €10,903 | +€8,786 | +414.9% |
| Recurring financial charges | 65 | €2,118 | €10,903 | +€8,786 | +414.9% |
| Profit (loss) for the period before taxes | 9903 | €57,932 | €53,119 | -€4,813 | -8.3% |
| Profit (loss) for the period | 9904 | €57,932 | €53,119 | -€4,813 | -8.3% |
| Profit (loss) for the period to be appropriated | 9905 | €57,932 | €53,119 | -€4,813 | -8.3% |
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 30 September 2026 via checked.be.