AVS: what changed
AVS
Largest movements
- Tangible fixed assets +€88,724
up €88,724 (+247%), from €35,878 to €124,602
of which Land and buildings: +€91,642
- Cash +€27,164
up €27,164 (+24.3%), from €111,812 to €138,976
mainly Debts after one year (+€64,918) and Net result for the year (+€55,260)
- Receivables within one year -€7,252
down €7,252 (-27.9%), from €25,984 to €18,732
of which Trade receivables: -€5,234
- Debts after one year +€64,918
up €64,918 (+411%), from €15,800 to €80,718
- Reserves +€55,260
up €55,260 (+49.4%), from €111,827 to €167,087
- Tax, wage and social debts -€14,436
down €14,436 (-45.0%), from €32,084 to €17,648
of which Taxes: -€14,436
- Current portion of long-term debt +€7,732
up €7,732 (+137%), from €5,661 to €13,393
- Trade debts -€4,324
down €4,324 (-74.7%), from €5,788 to €1,464
- Gross operating margin -€61,965
down €61,965 (-38.3%), from €161,881 to €99,916
- Taxes -€15,936
down €15,936 (-52.1%), from €30,584 to €14,648
- Other operating charges +€11,770
up €11,770 (+613%), from €1,921 to €13,691
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €174,247 | €283,461 | +€109,213 | +62.7% |
| Fixed assets | 21/28 | €35,878 | €124,602 | +€88,724 | +247% |
| Tangible fixed assets | 22/27 | €35,878 | €124,602 | +€88,724 | +247% |
| Land and buildings | 22 | - | €91,642 | +€91,642 | |
| Plant, machinery and equipment | 23 | €4,782 | €2,536 | -€2,247 | -47.0% |
| Furniture and vehicles | 24 | €7,771 | €13,519 | +€5,747 | +74.0% |
| Leasing and similar rights | 25 | €23,324 | €16,906 | -€6,419 | -27.5% |
| Current assets | 29/58 | €138,369 | €158,858 | +€20,489 | +14.8% |
| Amounts receivable within one year | 40/41 | €25,984 | €18,732 | -€7,252 | -27.9% |
| Trade receivables | 40 | €18,120 | €12,886 | -€5,234 | -28.9% |
| Other amounts receivable | 41 | €7,864 | €5,846 | -€2,018 | -25.7% |
| Cash at bank and in hand | 54/58 | €111,812 | €138,976 | +€27,164 | +24.3% |
| Deferred charges and accrued income | 490/1 | €573 | €1,151 | +€577 | +101% |
| Total equity and liabilities | 10/49 | €174,247 | €283,461 | +€109,213 | +62.7% |
| Equity | 10/15 | €114,827 | €170,087 | +€55,260 | +48.1% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €111,827 | €167,087 | +€55,260 | +49.4% |
| Distributable reserves | 133 | €111,827 | €167,087 | +€55,260 | +49.4% |
| Amounts payable | 17/49 | €59,420 | €113,374 | +€53,954 | +90.8% |
| Amounts payable after more than one year | 17 | €15,800 | €80,718 | +€64,918 | +411% |
| Financial debts | 170/4 | €15,800 | €80,718 | +€64,918 | +411% |
| Amounts payable within one year | 42/48 | €43,620 | €32,655 | -€10,964 | -25.1% |
| Current portion of amounts payable after more than one year | 42 | €5,661 | €13,393 | +€7,732 | +137% |
| Trade debts | 44 | €5,788 | €1,464 | -€4,324 | -74.7% |
| Suppliers | 440/4 | €5,788 | €1,464 | -€4,324 | -74.7% |
| Advances received on contracts in progress | 46 | - | €150 | +€150 | |
| Taxes, remuneration and social security | 45 | €32,084 | €17,648 | -€14,436 | -45.0% |
| Taxes | 450/3 | €30,584 | €16,148 | -€14,436 | -47.2% |
| Remuneration and social security | 454/9 | €1,500 | €1,500 | = | 0.0% |
| Other amounts payable | 47/48 | €87 | €0 | -€87 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,794 | €13,159 | +€365 | +2.9% |
| Other operating charges | 640/8 | €1,921 | €13,691 | +€11,770 | +613% |
| Gross operating margin | 9900 | €161,881 | €99,916 | -€61,965 | -38.3% |
| Operating profit (loss) | 9901 | €147,166 | €73,066 | -€74,100 | -50.4% |
| Financial income | 75/76B | €250 | €1,057 | +€806 | +323% |
| Recurring financial income | 75 | €250 | €1,057 | +€806 | +323% |
| Financial charges | 65/66B | €5,005 | €4,216 | -€790 | -15.8% |
| Recurring financial charges | 65 | €5,005 | €4,216 | -€790 | -15.8% |
| Profit (loss) for the period before taxes | 9903 | €142,411 | €69,907 | -€72,504 | -50.9% |
| Income taxes | 67/77 | €30,584 | €14,648 | -€15,936 | -52.1% |
| Profit (loss) for the period | 9904 | €111,827 | €55,260 | -€56,568 | -50.6% |
| Profit (loss) for the period to be appropriated | 9905 | €111,827 | €55,260 | -€56,568 | -50.6% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.