AVMI: 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.
AVMI
Largest movements
- Cash +€112,179
up €112,179 (+162.1%), from €69,213 to €181,392
mainly Net result for the year (+€227,558) and Other debts (+€92,896)
- Current investments -€80,000
down €80,000 (-100.0%), from €80,000 to €0
- Receivables within one year +€44,546
up €44,546 (+127.8%), from €34,859 to €79,406
of which Trade receivables: +€53,452
- Financial fixed assets -€25,187
down €25,187 (-15.9%), from €158,250 to €133,063
- Tangible fixed assets -€9,437
down €9,437 (-37.4%), from €25,248 to €15,811
of which Other tangible fixed assets: -€6,740
- Other debts +€92,896
up €92,896 (+46.0%), from €202,115 to €295,011
- Reserves -€63,673
down €63,673 (-69.8%), from €91,231 to €27,558
- Tax, wage and social debts +€20,530
up €20,530 (+223.2%), from €9,198 to €29,728
of which Taxes: +€20,530
- Trade debts -€8,056
down €8,056 (-43.9%), from €18,356 to €10,301
- Gross operating margin +€90,163
up €90,163 (+37.5%), from €240,582 to €330,744
- Taxes +€23,720
up €23,720 (+41.1%), from €57,767 to €81,488
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 | €369,994 | €412,468 | +€42,474 | +11.5% |
| Fixed assets | 21/28 | €183,498 | €148,874 | -€34,624 | -18.9% |
| Tangible fixed assets | 22/27 | €25,248 | €15,811 | -€9,437 | -37.4% |
| Furniture and vehicles | 24 | €2,697 | €0 | -€2,697 | -100.0% |
| Other tangible fixed assets | 26 | €22,551 | €15,811 | -€6,740 | -29.9% |
| Financial fixed assets | 28 | €158,250 | €133,063 | -€25,187 | -15.9% |
| Current assets | 29/58 | €186,496 | €263,594 | +€77,098 | +41.3% |
| Amounts receivable within one year | 40/41 | €34,859 | €79,406 | +€44,546 | +127.8% |
| Trade receivables | 40 | €23,640 | €77,092 | +€53,452 | +226.1% |
| Other amounts receivable | 41 | €11,219 | €2,313 | -€8,906 | -79.4% |
| Current investments | 50/53 | €80,000 | €0 | -€80,000 | -100.0% |
| Cash at bank and in hand | 54/58 | €69,213 | €181,392 | +€112,179 | +162.1% |
| Deferred charges and accrued income | 490/1 | €2,423 | €2,796 | +€373 | +15.4% |
| Total equity and liabilities | 10/49 | €369,994 | €412,468 | +€42,474 | +11.5% |
| Equity | 10/15 | €109,831 | €46,158 | -€63,673 | -58.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €91,231 | €27,558 | -€63,673 | -69.8% |
| Distributable reserves | 133 | €91,231 | €27,558 | -€63,673 | -69.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €260,163 | €366,311 | +€106,147 | +40.8% |
| Amounts payable within one year | 42/48 | €229,681 | €335,811 | +€106,130 | +46.2% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Financial debts | 43 | €12 | €771 | +€759 | +6339.3% |
| Credit institutions | 430/8 | €12 | €771 | +€759 | +6339.3% |
| Trade debts | 44 | €18,356 | €10,301 | -€8,056 | -43.9% |
| Suppliers | 440/4 | €18,356 | €10,301 | -€8,056 | -43.9% |
| Taxes, remuneration and social security | 45 | €9,198 | €29,728 | +€20,530 | +223.2% |
| Taxes | 450/3 | €9,198 | €29,728 | +€20,530 | +223.2% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €202,115 | €295,011 | +€92,896 | +46.0% |
| Accrued charges and deferred income | 492/3 | €30,482 | €30,499 | +€18 | +0.1% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,034 | €9,437 | -€2,597 | -21.6% |
| Other operating charges | 640/8 | €487 | €502 | +€15 | +3.1% |
| Non-recurring operating charges | 66A | - | €12,679 | +€12,679 | |
| Gross operating margin | 9900 | €240,582 | €330,744 | +€90,163 | +37.5% |
| Operating profit (loss) | 9901 | €228,060 | €308,127 | +€80,066 | +35.1% |
| Financial income | 75/76B | €751 | €1,096 | +€345 | +46.0% |
| Recurring financial income | 75 | €751 | €1,096 | +€345 | +46.0% |
| Financial charges | 65/66B | €622 | €178 | -€445 | -71.5% |
| Recurring financial charges | 65 | €622 | €178 | -€445 | -71.5% |
| Profit (loss) for the period before taxes | 9903 | €228,189 | €309,045 | +€80,857 | +35.4% |
| Income taxes | 67/77 | €57,767 | €81,488 | +€23,720 | +41.1% |
| Profit (loss) for the period | 9904 | €170,422 | €227,558 | +€57,136 | +33.5% |
| Profit (loss) for the period to be appropriated | 9905 | €170,422 | €227,558 | +€57,136 | +33.5% |
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 2 October 2026 via checked.be.