AVONAM: what changed
Two financial 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.
AVONAM
Largest movements
- Tangible fixed assets +€164,112
up €164,112 (+20.9%), from €787,057 to €951,169
of which Assets under construction and advance payments: +€170,443
- Cash -€121,950
down €121,950 (-91.2%), from €133,706 to €11,756
mainly Investment in fixed assets (net) (-€177,557) and Debts after one year (-€32,326)
- Other debts +€111,539
up €111,539 (+61.8%), from €180,494 to €292,032
- Debts after one year -€32,326
down €32,326 (-12.4%), from €260,756 to €228,430
of which Financial debts: -€32,326
- Trade debts -€20,015
no longer reported in 2025 (was €20,015)
- Profit (loss) carried forward -€16,411
down €16,411 (-37.9%), from -€43,329 to -€59,739
- Gross operating margin +€9,904
up €9,904, from -€4,606 to €5,297
- Financial income -€4,244
down €4,244 (-99.8%), from €4,254 to €10
- Other operating charges +€611
up €611 (+157.8%), from €387 to €998
- Depreciation -€367
down €367 (-2.7%), from €13,812 to €13,445
- Financial charges +€277
up €277 (+4.0%), from €6,998 to €7,275
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 | €920,763 | €962,925 | +€42,162 | +4.6% |
| Fixed assets | 21/28 | €787,057 | €951,169 | +€164,112 | +20.9% |
| Tangible fixed assets | 22/27 | €787,057 | €951,169 | +€164,112 | +20.9% |
| Land and buildings | 22 | €510,571 | €505,159 | -€5,412 | -1.1% |
| Furniture and vehicles | 24 | €1,839 | €919 | -€919 | -50.0% |
| Assets under construction and advance payments | 27 | €274,647 | €445,090 | +€170,443 | +62.1% |
| Current assets | 29/58 | €133,706 | €11,756 | -€121,950 | -91.2% |
| Cash at bank and in hand | 54/58 | €133,706 | €11,756 | -€121,950 | -91.2% |
| Total equity and liabilities | 10/49 | €920,763 | €962,925 | +€42,162 | +4.6% |
| Equity | 10/15 | €335,818 | €319,407 | -€16,411 | -4.9% |
| Contributions | 10/11 | €31,235 | €31,235 | = | 0.0% |
| Contributions outside capital | 11 | €31,235 | €31,235 | = | 0.0% |
| Other | 1109/19 | €31,235 | €31,235 | = | 0.0% |
| Reserves | 13 | €347,912 | €347,912 | = | 0.0% |
| Tax-exempt reserves | 132 | €335,759 | €335,759 | = | 0.0% |
| Distributable reserves | 133 | €12,153 | €12,153 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€43,329 | -€59,739 | -€16,411 | -37.9% |
| Provisions and deferred taxes | 16 | €111,920 | €111,920 | = | 0.0% |
| Deferred taxes | 168 | €111,920 | €111,920 | = | 0.0% |
| Amounts payable | 17/49 | €473,026 | €531,599 | +€58,573 | +12.4% |
| Amounts payable after more than one year | 17 | €260,756 | €228,430 | -€32,326 | -12.4% |
| Financial debts | 170/4 | €259,958 | €227,632 | -€32,326 | -12.4% |
| Other amounts payable | 178/9 | €798 | €798 | = | 0.0% |
| Amounts payable within one year | 42/48 | €212,270 | €303,169 | +€90,899 | +42.8% |
| Current portion of amounts payable after more than one year | 42 | €11,761 | €11,137 | -€625 | -5.3% |
| Trade debts | 44 | €20,015 | - | -€20,015 | |
| Suppliers | 440/4 | €20,015 | - | -€20,015 | |
| Other amounts payable | 47/48 | €180,494 | €292,032 | +€111,539 | +61.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,812 | €13,445 | -€367 | -2.7% |
| Other operating charges | 640/8 | €387 | €998 | +€611 | +157.8% |
| Gross operating margin | 9900 | -€4,606 | €5,297 | +€9,904 | |
| Operating profit (loss) | 9901 | -€18,806 | -€9,146 | +€9,660 | +51.4% |
| Financial income | 75/76B | €4,254 | €10 | -€4,244 | -99.8% |
| Recurring financial income | 75 | €4,254 | €10 | -€4,244 | -99.8% |
| Financial charges | 65/66B | €6,998 | €7,275 | +€277 | +4.0% |
| Recurring financial charges | 65 | €6,998 | €7,275 | +€277 | +4.0% |
| Profit (loss) for the period before taxes | 9903 | -€21,549 | -€16,411 | +€5,138 | +23.8% |
| Profit (loss) for the period | 9904 | -€21,549 | -€16,411 | +€5,138 | +23.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€21,549 | -€16,411 | +€5,138 | +23.8% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.