AVS Project: 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.
AVS Project
Largest movements
- Cash -€5,386
down €5,386 (-10.2%), from €52,811 to €47,426
mainly Other debts (-€7,540) and Trade debts (-€3,474)
- Deferred charges and accrued income +€2,404
up €2,404 (+318.7%), from €754 to €3,159
- Receivables within one year +€1,420
up €1,420 (+10.0%), from €14,185 to €15,605
of which Trade receivables: +€1,210
- Profit (loss) carried forward +€8,017
up €8,017 (+21.3%), from €37,720 to €45,738
- Other debts -€7,540
no longer reported in 2025 (was €7,540)
- Trade debts -€3,474
down €3,474 (-29.9%), from €11,615 to €8,142
- Tax, wage and social debts +€1,539
up €1,539 (+14.4%), from €10,671 to €12,210
- Gross operating margin -€22,788
down €22,788 (-62.0%), from €36,735 to €13,947
- Taxes -€3,429
down €3,429 (-44.9%), from €7,638 to €4,209
- Financial charges -€1,834
down €1,834 (-96.1%), from €1,908 to €74
- Other operating charges +€1,345
up €1,345 (+445.6%), from €302 to €1,647
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 | €67,751 | €66,189 | -€1,561 | -2.3% |
| Current assets | 29/58 | €67,751 | €66,189 | -€1,561 | -2.3% |
| Amounts receivable within one year | 40/41 | €14,185 | €15,605 | +€1,420 | +10.0% |
| Trade receivables | 40 | €12,536 | €13,746 | +€1,210 | +9.7% |
| Other amounts receivable | 41 | €1,649 | €1,859 | +€210 | +12.7% |
| Cash at bank and in hand | 54/58 | €52,811 | €47,426 | -€5,386 | -10.2% |
| Deferred charges and accrued income | 490/1 | €754 | €3,159 | +€2,404 | +318.7% |
| Total equity and liabilities | 10/49 | €67,751 | €66,189 | -€1,561 | -2.3% |
| Equity | 10/15 | €37,820 | €45,838 | +€8,017 | +21.2% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Outside capital | 11 | €100 | €100 | = | 0.0% |
| Other | 1109/19 | €100 | €100 | = | 0.0% |
| Profit (loss) carried forward | 14 | €37,720 | €45,738 | +€8,017 | +21.3% |
| Amounts payable | 17/49 | €29,930 | €20,352 | -€9,579 | -32.0% |
| Amounts payable within one year | 42/48 | €29,930 | €20,352 | -€9,579 | -32.0% |
| Trade debts | 44 | €11,615 | €8,142 | -€3,474 | -29.9% |
| Suppliers | 440/4 | €11,615 | €8,142 | -€3,474 | -29.9% |
| Advances received on contracts in progress | 46 | €103 | - | -€103 | |
| Taxes, remuneration and social security | 45 | €10,671 | €12,210 | +€1,539 | +14.4% |
| Taxes | 450/3 | €10,671 | €12,210 | +€1,539 | +14.4% |
| Other amounts payable | 47/48 | €7,540 | - | -€7,540 | |
| Other operating charges | 640/8 | €302 | €1,647 | +€1,345 | +445.6% |
| Gross operating margin | 9900 | €36,735 | €13,947 | -€22,788 | -62.0% |
| Operating profit (loss) | 9901 | €36,433 | €12,300 | -€24,133 | -66.2% |
| Financial income | 75/76B | €6 | - | -€6 | |
| Recurring financial income | 75 | €6 | - | -€6 | |
| Financial charges | 65/66B | €1,908 | €74 | -€1,834 | -96.1% |
| Recurring financial charges | 65 | €1,908 | €74 | -€1,834 | -96.1% |
| Profit (loss) for the period before taxes | 9903 | €34,531 | €12,226 | -€22,305 | -64.6% |
| Income taxes | 67/77 | €7,638 | €4,209 | -€3,429 | -44.9% |
| Profit (loss) for the period | 9904 | €26,894 | €8,017 | -€18,876 | -70.2% |
| Profit (loss) for the period to be appropriated | 9905 | €26,894 | €8,017 | -€18,876 | -70.2% |
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 8 October 2026 via checked.be.