AVMLC: 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.
What changed
AVMLC
NACE 68.203, Renting and operating of own or leased non-residential real estate, excluding land
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€21,989
2024 · -€208,055+€186,066
Equity
-€322,939
2024 · -€300,950-€21,989
Cash
€46,649
2024 · €69,079-€22,430
Balance sheet total
€5.8m
2024 · €5.5m+€293,593
Largest movements
Assets
- Tangible fixed assets +€305,367
up €305,367 (+5.7%), from €5.4m to €5.7m
of which Land and buildings: +€332,739
Equity and liabilities
- Debts after one year +€232,131
up €232,131 (+4.3%), from €5.4m to €5.7m
Income statement
- Gross operating margin +€136,242
up €136,242 (+63.6%), from €214,323 to €350,565
- Financial charges -€44,520
down €44,520 (-18.7%), from €237,856 to €193,336
- Depreciation -€7,037
down €7,037 (-3.9%), from €179,196 to €172,158
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.
Result 2024
-€208,055
Gross operating margin
+€136,242
Depreciation
+€7,037
Other operating charges
-€1,182
Financial income
-€550
Financial charges
+€44,520
Result 2025
-€21,989
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.
From operations
+€215,656
Investment
-€477,525
Financing
+€239,439
Cash 2024
€69,079
From operations (derived)
+€215,656
Net result for the year
-€21,989
Depreciation
+€172,158
Receivables within one year
-€10,656
Trade debts
+€9,411
Tax, wage and social debts
+€3,663
Other debts
+€21,927
Accrued charges and deferred income
+€41,142
Investment (derived)
-€477,525
Investment in fixed assets (net)
-€477,525
Financing
+€239,439
Debts after one year
+€232,131
Current portion of long-term debt
+€7,308
Cash 2025
€46,649
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €5,476,985 | €5,770,578 | +€293,593 | +5.4% |
| Fixed assets | 21/28 | €5,373,491 | €5,678,858 | +€305,367 | +5.7% |
| Tangible fixed assets | 22/27 | €5,373,491 | €5,678,858 | +€305,367 | +5.7% |
| Land and buildings | 22 | €4,894,567 | €5,227,307 | +€332,739 | +6.8% |
| Plant, machinery and equipment | 23 | €456,986 | €431,986 | -€25,000 | -5.5% |
| Furniture and vehicles | 24 | €21,937 | €19,565 | -€2,373 | -10.8% |
| Current assets | 29/58 | €103,494 | €91,720 | -€11,774 | -11.4% |
| Amounts receivable within one year | 40/41 | €34,415 | €45,071 | +€10,656 | +31.0% |
| Trade receivables | 40 | €4,235 | €44,891 | +€40,656 | +960.0% |
| Other amounts receivable | 41 | €30,180 | €180 | -€30,000 | -99.4% |
| Cash at bank and in hand | 54/58 | €69,079 | €46,649 | -€22,430 | -32.5% |
| Total equity and liabilities | 10/49 | €5,476,985 | €5,770,578 | +€293,593 | +5.4% |
| Equity | 10/15 | -€300,950 | -€322,939 | -€21,989 | -7.3% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€320,950 | -€342,939 | -€21,989 | -6.9% |
| Amounts payable | 17/49 | €5,777,935 | €6,093,516 | +€315,582 | +5.5% |
| Amounts payable after more than one year | 17 | €5,425,091 | €5,657,222 | +€232,131 | +4.3% |
| Financial debts | 170/4 | €5,425,091 | €5,657,222 | +€232,131 | +4.3% |
| Amounts payable within one year | 42/48 | €352,844 | €395,153 | +€42,308 | +12.0% |
| Current portion of amounts payable after more than one year | 42 | €162,561 | €169,869 | +€7,308 | +4.5% |
| Trade debts | 44 | €131,182 | €140,593 | +€9,411 | +7.2% |
| Suppliers | 440/4 | €131,182 | €140,593 | +€9,411 | +7.2% |
| Taxes, remuneration and social security | 45 | €23,126 | €26,788 | +€3,663 | +15.8% |
| Taxes | 450/3 | €23,126 | €26,788 | +€3,663 | +15.8% |
| Other amounts payable | 47/48 | €35,975 | €57,902 | +€21,927 | +60.9% |
| Accrued charges and deferred income | 492/3 | - | €41,142 | +€41,142 | |
| Non-recurring operating income | 76A | €240 | €0 | -€240 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €179,196 | €172,158 | -€7,037 | -3.9% |
| Other operating charges | 640/8 | €5,877 | €7,059 | +€1,182 | +20.1% |
| Gross operating margin | 9900 | €214,323 | €350,565 | +€136,242 | +63.6% |
| Operating profit (loss) | 9901 | €29,250 | €171,347 | +€142,097 | +485.8% |
| Financial income | 75/76B | €550 | €0 | -€550 | -100.0% |
| Recurring financial income | 75 | €550 | €0 | -€550 | -100.0% |
| Financial charges | 65/66B | €237,856 | €193,336 | -€44,520 | -18.7% |
| Recurring financial charges | 65 | €237,856 | €193,336 | -€44,520 | -18.7% |
| Profit (loss) for the period before taxes | 9903 | -€208,055 | -€21,989 | +€186,066 | +89.4% |
| Profit (loss) for the period | 9904 | -€208,055 | -€21,989 | +€186,066 | +89.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€208,055 | -€21,989 | +€186,066 | +89.4% |
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.