AVKO: 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.
AVKO
Largest movements
- Cash +€29,099
up €29,099 (+31.9%), from €91,206 to €120,305
mainly Debts after one year (+€16,931) and Tax, wage and social debts (+€10,836)
- Stocks and contracts +€5,206
up €5,206 (+12.2%), from €42,631 to €47,836
- Tangible fixed assets -€4,912
down €4,912 (-29.0%), from €16,958 to €12,047
of which Furniture and vehicles: -€7,034
- Receivables within one year +€3,223
up €3,223 (+19.3%), from €16,726 to €19,949
of which Other amounts receivable: +€1,894
- Debts after one year +€16,931
new in 2025: €16,931
- Tax, wage and social debts +€10,836
up €10,836 (+190.7%), from €5,683 to €16,519
of which Remuneration and social security: +€12,178
- Trade debts -€9,831
down €9,831 (-5.2%), from €189,127 to €179,295
- Profit (loss) carried forward +€8,186
up €8,186 (+17.4%), from -€46,993 to -€38,806
- Current portion of long-term debt +€4,827
up €4,827 (+352.1%), from €1,371 to €6,198
- Staff costs +€9,757
up €9,757 (+13.8%), from €70,458 to €80,215
- Other operating charges -€3,153
down €3,153 (-98.3%), from €3,207 to €55
- Financial charges +€2,905
up €2,905 (+48.8%), from €5,952 to €8,857
- Gross operating margin -€1,116
down €1,116 (-1.1%), from €104,014 to €102,898
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 | €169,188 | €200,137 | +€30,949 | +18.3% |
| Fixed assets | 21/28 | €16,958 | €12,047 | -€4,912 | -29.0% |
| Tangible fixed assets | 22/27 | €16,958 | €12,047 | -€4,912 | -29.0% |
| Plant, machinery and equipment | 23 | €9,112 | €7,451 | -€1,661 | -18.2% |
| Furniture and vehicles | 24 | €7,846 | €812 | -€7,034 | -89.6% |
| Leasing and similar rights | 25 | - | €3,783 | +€3,783 | |
| Current assets | 29/58 | €152,230 | €188,090 | +€35,860 | +23.6% |
| Stocks and contracts in progress | 3 | €42,631 | €47,836 | +€5,206 | +12.2% |
| Stocks | 30/36 | €42,631 | €47,836 | +€5,206 | +12.2% |
| Amounts receivable within one year | 40/41 | €16,726 | €19,949 | +€3,223 | +19.3% |
| Trade receivables | 40 | - | €1,329 | +€1,329 | |
| Other amounts receivable | 41 | €16,726 | €18,620 | +€1,894 | +11.3% |
| Cash at bank and in hand | 54/58 | €91,206 | €120,305 | +€29,099 | +31.9% |
| Deferred charges and accrued income | 490/1 | €1,667 | - | -€1,667 | |
| Total equity and liabilities | 10/49 | €169,188 | €200,137 | +€30,949 | +18.3% |
| Equity | 10/15 | -€26,993 | -€18,806 | +€8,186 | +30.3% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€46,993 | -€38,806 | +€8,186 | +17.4% |
| Amounts payable | 17/49 | €196,181 | €218,943 | +€22,762 | +11.6% |
| Amounts payable after more than one year | 17 | - | €16,931 | +€16,931 | |
| Financial debts | 170/4 | - | €16,931 | +€16,931 | |
| Amounts payable within one year | 42/48 | €196,181 | €202,013 | +€5,831 | +3.0% |
| Current portion of amounts payable after more than one year | 42 | €1,371 | €6,198 | +€4,827 | +352.1% |
| Trade debts | 44 | €189,127 | €179,295 | -€9,831 | -5.2% |
| Suppliers | 440/4 | €189,127 | €179,295 | -€9,831 | -5.2% |
| Taxes, remuneration and social security | 45 | €5,683 | €16,519 | +€10,836 | +190.7% |
| Taxes | 450/3 | €1,878 | €536 | -€1,342 | -71.5% |
| Remuneration and social security | 454/9 | €3,805 | €15,983 | +€12,178 | +320.0% |
| Remuneration, social security and pensions | 62 | €70,458 | €80,215 | +€9,757 | +13.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,290 | €5,564 | +€274 | +5.2% |
| Other operating charges | 640/8 | €3,207 | €55 | -€3,153 | -98.3% |
| Gross operating margin | 9900 | €104,014 | €102,898 | -€1,116 | -1.1% |
| Operating profit (loss) | 9901 | €25,058 | €17,065 | -€7,993 | -31.9% |
| Financial income | 75/76B | €223 | €215 | -€8 | -3.8% |
| Recurring financial income | 75 | €223 | €215 | -€8 | -3.8% |
| Financial charges | 65/66B | €5,952 | €8,857 | +€2,905 | +48.8% |
| Recurring financial charges | 65 | €5,952 | €8,857 | +€2,905 | +48.8% |
| Profit (loss) for the period before taxes | 9903 | €19,330 | €8,423 | -€10,907 | -56.4% |
| Income taxes | 67/77 | €114 | €236 | +€122 | +106.8% |
| Profit (loss) for the period | 9904 | €19,215 | €8,186 | -€11,029 | -57.4% |
| Profit (loss) for the period to be appropriated | 9905 | €19,215 | €8,186 | -€11,029 | -57.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.