AVL: 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.
AVL
Largest movements
- Cash +€319,787
up €319,787 (+566.1%), from €56,489 to €376,277
mainly Net result for the year (+€408,004) and Current investments (+€32,144)
- Current investments -€32,144
down €32,144 (-7.5%), from €426,576 to €394,431
- Receivables within one year +€26,439
up €26,439 (+1076.9%), from €2,455 to €28,894
of which Other amounts receivable: +€23,068
- Reserves +€335,854
up €335,854 (+63.2%), from €531,287 to €867,141
- Other debts -€26,625
down €26,625 (-16.7%), from €159,409 to €132,784
- Gross operating margin +€93,341
up €93,341 (+20.4%), from €457,695 to €551,036
- Financial income -€87,858
down €87,858 (-92.3%), from €95,218 to €7,360
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 | €706,068 | €1,017,187 | +€311,119 | +44.1% |
| Fixed assets | 21/28 | €15,928 | €8,248 | -€7,681 | -48.2% |
| Tangible fixed assets | 22/27 | €15,928 | €8,248 | -€7,681 | -48.2% |
| Land and buildings | 22 | €12 | - | -€12 | |
| Plant, machinery and equipment | 23 | €4,820 | €3,529 | -€1,291 | -26.8% |
| Furniture and vehicles | 24 | €11,096 | €4,719 | -€6,377 | -57.5% |
| Current assets | 29/58 | €690,140 | €1,008,940 | +€318,800 | +46.2% |
| Amounts receivable within one year | 40/41 | €2,455 | €28,894 | +€26,439 | +1076.9% |
| Trade receivables | 40 | - | €3,371 | +€3,371 | |
| Other amounts receivable | 41 | €2,455 | €25,523 | +€23,068 | +939.6% |
| Current investments | 50/53 | €426,576 | €394,431 | -€32,144 | -7.5% |
| Cash at bank and in hand | 54/58 | €56,489 | €376,277 | +€319,787 | +566.1% |
| Deferred charges and accrued income | 490/1 | €204,620 | €209,338 | +€4,718 | +2.3% |
| Total equity and liabilities | 10/49 | €706,068 | €1,017,187 | +€311,119 | +44.1% |
| Equity | 10/15 | €536,287 | €872,141 | +€335,854 | +62.6% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €531,287 | €867,141 | +€335,854 | +63.2% |
| Distributable reserves | 133 | €531,287 | €867,141 | +€335,854 | +63.2% |
| Amounts payable | 17/49 | €169,782 | €145,046 | -€24,736 | -14.6% |
| Amounts payable within one year | 42/48 | €169,782 | €145,046 | -€24,736 | -14.6% |
| Trade debts | 44 | €7,358 | €404 | -€6,955 | -94.5% |
| Suppliers | 440/4 | €7,358 | €404 | -€6,955 | -94.5% |
| Taxes, remuneration and social security | 45 | €3,014 | €11,858 | +€8,844 | +293.4% |
| Taxes | 450/3 | - | €11,858 | +€11,858 | |
| Remuneration and social security | 454/9 | €3,014 | - | -€3,014 | |
| Other amounts payable | 47/48 | €159,409 | €132,784 | -€26,625 | -16.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,705 | €7,681 | +€976 | +14.5% |
| Other operating charges | 640/8 | €1,695 | €1,077 | -€617 | -36.4% |
| Non-recurring operating charges | 66A | €3,100 | - | -€3,100 | |
| Gross operating margin | 9900 | €457,695 | €551,036 | +€93,341 | +20.4% |
| Operating profit (loss) | 9901 | €446,195 | €542,278 | +€96,083 | +21.5% |
| Financial income | 75/76B | €95,218 | €7,360 | -€87,858 | -92.3% |
| Recurring financial income | 75 | €95,218 | €7,360 | -€87,858 | -92.3% |
| Financial charges | 65/66B | €923 | €648 | -€275 | -29.8% |
| Recurring financial charges | 65 | €923 | €648 | -€275 | -29.8% |
| Profit (loss) for the period before taxes | 9903 | €540,490 | €548,991 | +€8,500 | +1.6% |
| Income taxes | 67/77 | €135,504 | €140,987 | +€5,483 | +4.0% |
| Profit (loss) for the period | 9904 | €404,987 | €408,004 | +€3,017 | +0.7% |
| Transfer from tax-exempt reserves | 789 | €126,300 | - | -€126,300 | |
| Profit (loss) for the period to be appropriated | 9905 | €531,287 | €408,004 | -€123,283 | -23.2% |
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 29 September 2026 via checked.be.