AVMD: 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.
AVMD
Largest movements
- Receivables within one year +€44,235
up €44,235 (+38.6%), from €114,617 to €158,852
- Cash +€22,592
up €22,592 (+23.8%), from €94,951 to €117,543
mainly Net result for the year (+€201,474) and Trade debts (+€5,312)
- Tangible fixed assets +€8,025
up €8,025 (+25.6%), from €31,385 to €39,409
of which Furniture and vehicles: +€5,008
- Deferred charges and accrued income +€4,655
up €4,655 (+14.3%), from €32,615 to €37,270
- Reserves +€201,474
up €201,474 (+159.7%), from €126,194 to €327,668
- Other debts -€103,429
down €103,429 (-100.0%), from €103,429 to €0
- Tax, wage and social debts -€23,850
down €23,850 (-100.0%), from €23,850 to €0
- Trade debts +€5,312
up €5,312 (+355.2%), from €1,495 to €6,807
- Gross operating margin +€79,321
up €79,321 (+41.5%), from €191,310 to €270,631
- Taxes +€20,556
up €20,556 (+47.0%), from €43,727 to €64,282
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 | €273,569 | €353,075 | +€79,506 | +29.1% |
| Fixed assets | 21/28 | €31,385 | €39,409 | +€8,025 | +25.6% |
| Tangible fixed assets | 22/27 | €31,385 | €39,409 | +€8,025 | +25.6% |
| Land and buildings | 22 | €20,536 | €19,470 | -€1,066 | -5.2% |
| Plant, machinery and equipment | 23 | €1,666 | €5,748 | +€4,082 | +245.0% |
| Furniture and vehicles | 24 | €9,183 | €14,191 | +€5,008 | +54.5% |
| Current assets | 29/58 | €242,184 | €313,665 | +€71,481 | +29.5% |
| Amounts receivable within one year | 40/41 | €114,617 | €158,852 | +€44,235 | +38.6% |
| Other amounts receivable | 41 | €114,617 | €158,852 | +€44,235 | +38.6% |
| Cash at bank and in hand | 54/58 | €94,951 | €117,543 | +€22,592 | +23.8% |
| Deferred charges and accrued income | 490/1 | €32,615 | €37,270 | +€4,655 | +14.3% |
| Total equity and liabilities | 10/49 | €273,569 | €353,075 | +€79,506 | +29.1% |
| Equity | 10/15 | €144,794 | €346,268 | +€201,474 | +139.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Outside capital | 11 | €18,600 | - | -€18,600 | |
| Other | 1109/19 | €18,600 | - | -€18,600 | |
| Reserves | 13 | €126,194 | €327,668 | +€201,474 | +159.7% |
| Distributable reserves | 133 | €126,194 | €327,668 | +€201,474 | +159.7% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €128,775 | €6,807 | -€121,968 | -94.7% |
| Amounts payable within one year | 42/48 | €128,775 | €6,807 | -€121,968 | -94.7% |
| Trade debts | 44 | €1,495 | €6,807 | +€5,312 | +355.2% |
| Suppliers | 440/4 | €1,495 | €6,807 | +€5,312 | +355.2% |
| Taxes, remuneration and social security | 45 | €23,850 | €0 | -€23,850 | -100.0% |
| Taxes | 450/3 | €23,850 | €0 | -€23,850 | -100.0% |
| Other amounts payable | 47/48 | €103,429 | €0 | -€103,429 | -100.0% |
| Non-recurring operating income | 76A | €4,000 | €0 | -€4,000 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,881 | €3,819 | +€939 | +32.6% |
| Other operating charges | 640/8 | €553 | €798 | +€245 | +44.4% |
| Gross operating margin | 9900 | €191,310 | €270,631 | +€79,321 | +41.5% |
| Operating profit (loss) | 9901 | €187,876 | €266,013 | +€78,137 | +41.6% |
| Financial income | 75/76B | €0 | €0 | -€0 | -87.5% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -87.5% |
| Financial charges | 65/66B | €82 | €257 | +€175 | +214.7% |
| Recurring financial charges | 65 | €82 | €257 | +€175 | +214.7% |
| Profit (loss) for the period before taxes | 9903 | €187,795 | €265,756 | +€77,961 | +41.5% |
| Income taxes | 67/77 | €43,727 | €64,282 | +€20,556 | +47.0% |
| Profit (loss) for the period | 9904 | €144,068 | €201,474 | +€57,406 | +39.8% |
| Profit (loss) for the period to be appropriated | 9905 | €144,068 | €201,474 | +€57,406 | +39.8% |
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 5 October 2026 via checked.be.