AVP IMMO: 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.
What changed
AVP IMMO
NACE 68.110, Buying and selling of own real estate
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€49,278
2024 · €73,991-€24,712
Equity
€350,355
2024 · €301,076+€49,278
Cash
€0
2024 · €22,500-€22,500
Balance sheet total
€4.8m
2024 · €5.1m-€293,703
Largest movements
Assets
- Tangible fixed assets -€246,046
down €246,046 (-6.6%), from €3.7m to €3.5m
of which Land and buildings: -€130,152
- Deferred charges and accrued income -€130,515
down €130,515 (-10.6%), from €1.2m to €1.1m
- Receivables within one year +€105,358
up €105,358 (+108.1%), from €97,432 to €202,790
of which Other amounts receivable: +€104,955
Equity and liabilities
- Debts after one year -€307,242
down €307,242 (-7.0%), from €4.4m to €4.1m
Income statement
- Gross operating margin -€27,856
down €27,856 (-5.3%), from €530,249 to €502,393
- Depreciation +€6,668
up €6,668 (+2.6%), from €254,282 to €260,950
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
€73,991
Gross operating margin
-€27,856
Depreciation
-€6,668
Other operating charges
+€4,508
Financial income
+€65
Financial charges
+€4,558
Taxes
+€681
Result 2025
€49,278
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
+€303,620
Investment
-€14,904
Financing
-€311,216
Cash 2024
€22,500
From operations (derived)
+€303,620
Net result for the year
+€49,278
Depreciation
+€260,950
Receivables within one year
-€105,358
Deferred charges and accrued income
+€130,515
Trade debts
+€1,025
Smaller working-capital items
-€481
Advances received
-€32,309
Investment (derived)
-€14,904
Investment in fixed assets (net)
-€14,904
Financing
-€311,216
Debts after one year
-€307,242
Current portion of long-term debt
-€3,974
Cash 2025
€0
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €5,074,111 | €4,780,409 | -€293,703 | -5.8% |
| Fixed assets | 21/28 | €3,725,888 | €3,479,842 | -€246,046 | -6.6% |
| Tangible fixed assets | 22/27 | €3,725,888 | €3,479,842 | -€246,046 | -6.6% |
| Land and buildings | 22 | €3,315,439 | €3,185,287 | -€130,152 | -3.9% |
| Plant, machinery and equipment | 23 | €393,289 | €282,676 | -€110,614 | -28.1% |
| Furniture and vehicles | 24 | €17,159 | €11,879 | -€5,280 | -30.8% |
| Current assets | 29/58 | €1,348,224 | €1,300,567 | -€47,657 | -3.5% |
| Amounts receivable within one year | 40/41 | €97,432 | €202,790 | +€105,358 | +108.1% |
| Trade receivables | 40 | €50 | €454 | +€404 | +807.5% |
| Other amounts receivable | 41 | €97,382 | €202,336 | +€104,955 | +107.8% |
| Cash at bank and in hand | 54/58 | €22,500 | €0 | -€22,500 | -100.0% |
| Deferred charges and accrued income | 490/1 | €1,228,292 | €1,097,777 | -€130,515 | -10.6% |
| Total equity and liabilities | 10/49 | €5,074,111 | €4,780,409 | -€293,703 | -5.8% |
| Equity | 10/15 | €301,076 | €350,355 | +€49,278 | +16.4% |
| Contributions | 10/11 | €19,025 | €19,025 | = | 0.0% |
| Reserves | 13 | €3,142 | €3,142 | = | 0.0% |
| Non-distributable reserves | 130/1 | €3,142 | €3,142 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,142 | €3,142 | = | 0.0% |
| Profit (loss) carried forward | 14 | €278,909 | €328,188 | +€49,278 | +17.7% |
| Amounts payable | 17/49 | €4,773,035 | €4,430,054 | -€342,981 | -7.2% |
| Amounts payable after more than one year | 17 | €4,367,805 | €4,060,563 | -€307,242 | -7.0% |
| Financial debts | 170/4 | €4,367,805 | €4,060,563 | -€307,242 | -7.0% |
| Amounts payable within one year | 42/48 | €400,149 | €364,210 | -€35,939 | -9.0% |
| Current portion of amounts payable after more than one year | 42 | €311,216 | €307,242 | -€3,974 | -1.3% |
| Financial debts | 43 | €30,000 | €30,000 | = | 0.0% |
| Credit institutions | 430/8 | €30,000 | €30,000 | = | 0.0% |
| Trade debts | 44 | €13,670 | €14,696 | +€1,025 | +7.5% |
| Suppliers | 440/4 | €13,670 | €14,696 | +€1,025 | +7.5% |
| Advances received on contracts in progress | 46 | €32,309 | €0 | -€32,309 | -100.0% |
| Taxes, remuneration and social security | 45 | €6,504 | €5,822 | -€681 | -10.5% |
| Taxes | 450/3 | €6,504 | €5,822 | -€681 | -10.5% |
| Other amounts payable | 47/48 | €6,450 | €6,450 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €5,081 | €5,281 | +€200 | +3.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €254,282 | €260,950 | +€6,668 | +2.6% |
| Other operating charges | 640/8 | €30,407 | €25,899 | -€4,508 | -14.8% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €530,249 | €502,393 | -€27,856 | -5.3% |
| Operating profit (loss) | 9901 | €245,561 | €215,544 | -€30,016 | -12.2% |
| Financial income | 75/76B | €45 | €109 | +€65 | +144.5% |
| Recurring financial income | 75 | €45 | €109 | +€65 | +144.5% |
| Financial charges | 65/66B | €135,111 | €130,553 | -€4,558 | -3.4% |
| Recurring financial charges | 65 | €135,111 | €130,553 | -€4,558 | -3.4% |
| Profit (loss) for the period before taxes | 9903 | €110,494 | €85,101 | -€25,394 | -23.0% |
| Income taxes | 67/77 | €36,504 | €35,822 | -€681 | -1.9% |
| Profit (loss) for the period | 9904 | €73,991 | €49,278 | -€24,712 | -33.4% |
| Profit (loss) for the period to be appropriated | 9905 | €73,991 | €49,278 | -€24,712 | -33.4% |
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.