AVIVAL: 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.
AVIVAL
Largest movements
- Tangible fixed assets +€320,783
up €320,783 (+73.0%), from €439,478 to €760,261
of which Land and buildings: +€322,612
- Cash -€9,929
down €9,929 (-82.5%), from €12,028 to €2,100
mainly Investment in fixed assets (net) (-€379,983) and Trade debts (-€19,840)
- Debts after one year +€243,776
up €243,776 (+285%), from €85,457 to €329,233
- Short-term financial debts +€34,000
up €34,000 (+567%), from €6,001 to €40,002
- Other debts +€33,666
up €33,666 (+54.0%), from €62,319 to €95,985
- Trade debts -€19,840
down €19,840 (-50.4%), from €39,392 to €19,552
- Reserves +€16,000
up €16,000 (+18.8%), from €84,920 to €100,920
of which Distributable reserves: +€16,000
- Gross operating margin +€17,296
up €17,296 (+13.2%), from €130,718 to €148,014
- Depreciation +€16,345
up €16,345 (+37.8%), from €43,206 to €59,550
- Taxes -€3,329
down €3,329 (-63.9%), from €5,208 to €1,880
- Financial charges +€3,081
up €3,081 (+29.3%), from €10,518 to €13,598
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 | €487,479 | €793,952 | +€306,473 | +62.9% |
| Formation expenses | 20 | €936 | €585 | -€351 | -37.5% |
| Fixed assets | 21/28 | €439,478 | €760,261 | +€320,783 | +73.0% |
| Tangible fixed assets | 22/27 | €439,478 | €760,261 | +€320,783 | +73.0% |
| Land and buildings | 22 | €429,989 | €752,601 | +€322,612 | +75.0% |
| Plant, machinery and equipment | 23 | €9,389 | €5,010 | -€4,379 | -46.6% |
| Furniture and vehicles | 24 | €100 | €2,651 | +€2,550 | +2,538% |
| Current assets | 29/58 | €47,066 | €33,107 | -€13,959 | -29.7% |
| Amounts receivable within one year | 40/41 | €29,037 | €22,087 | -€6,950 | -23.9% |
| Trade receivables | 40 | €28,585 | €21,660 | -€6,925 | -24.2% |
| Other amounts receivable | 41 | €452 | €427 | -€25 | -5.6% |
| Current investments | 50/53 | €2,103 | €2,103 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €12,028 | €2,100 | -€9,929 | -82.5% |
| Deferred charges and accrued income | 490/1 | €3,898 | €6,818 | +€2,920 | +74.9% |
| Total equity and liabilities | 10/49 | €487,479 | €793,952 | +€306,473 | +62.9% |
| Equity | 10/15 | €210,193 | €226,969 | +€16,776 | +8.0% |
| Contributions | 10/11 | €44,500 | €44,500 | = | 0.0% |
| Contributions outside capital | 11 | €44,500 | €44,500 | = | 0.0% |
| Other | 1109/19 | €44,500 | €44,500 | = | 0.0% |
| Reserves | 13 | €84,920 | €100,920 | +€16,000 | +18.8% |
| Non-distributable reserves | 130/1 | €4,450 | €4,450 | = | 0.0% |
| Reserves not available under the articles | 1311 | €4,450 | €4,450 | = | 0.0% |
| Distributable reserves | 133 | €80,470 | €96,470 | +€16,000 | +19.9% |
| Profit (loss) carried forward | 14 | €80,773 | €81,549 | +€776 | +1.0% |
| Amounts payable | 17/49 | €277,287 | €566,983 | +€289,697 | +104% |
| Amounts payable after more than one year | 17 | €85,457 | €329,233 | +€243,776 | +285% |
| Financial debts | 170/4 | €85,457 | €329,233 | +€243,776 | +285% |
| Amounts payable within one year | 42/48 | €191,830 | €237,751 | +€45,921 | +23.9% |
| Current portion of amounts payable after more than one year | 42 | €57,565 | €58,751 | +€1,186 | +2.1% |
| Financial debts | 43 | €6,001 | €40,002 | +€34,000 | +567% |
| Credit institutions | 430/8 | €6,001 | €40,002 | +€34,000 | +567% |
| Trade debts | 44 | €39,392 | €19,552 | -€19,840 | -50.4% |
| Suppliers | 440/4 | €39,392 | €19,552 | -€19,840 | -50.4% |
| Advances received on contracts in progress | 46 | - | €857 | +€857 | |
| Taxes, remuneration and social security | 45 | €26,552 | €22,603 | -€3,949 | -14.9% |
| Taxes | 450/3 | €20,634 | €16,586 | -€4,048 | -19.6% |
| Remuneration and social security | 454/9 | €5,918 | €6,017 | +€99 | +1.7% |
| Other amounts payable | 47/48 | €62,319 | €95,985 | +€33,666 | +54.0% |
| Remuneration, social security and pensions | 62 | €50,052 | €50,104 | +€52 | +0.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,206 | €59,550 | +€16,345 | +37.8% |
| Other operating charges | 640/8 | €6,460 | €6,143 | -€317 | -4.9% |
| Non-recurring operating charges | 66A | €41 | - | -€41 | |
| Gross operating margin | 9900 | €130,718 | €148,014 | +€17,296 | +13.2% |
| Operating profit (loss) | 9901 | €30,959 | €32,216 | +€1,258 | +4.1% |
| Financial income | 75/76B | €0 | €38 | +€38 | +12,567% |
| Recurring financial income | 75 | €0 | €38 | +€38 | +12,567% |
| Financial charges | 65/66B | €10,518 | €13,598 | +€3,081 | +29.3% |
| Recurring financial charges | 65 | €10,518 | €13,598 | +€3,081 | +29.3% |
| Profit (loss) for the period before taxes | 9903 | €20,441 | €18,656 | -€1,785 | -8.7% |
| Income taxes | 67/77 | €5,208 | €1,880 | -€3,329 | -63.9% |
| Profit (loss) for the period | 9904 | €15,233 | €16,776 | +€1,543 | +10.1% |
| Profit (loss) for the period to be appropriated | 9905 | €15,233 | €16,776 | +€1,543 | +10.1% |
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 14 October 2026 via checked.be.