AVSK: 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.
AVSK
Largest movements
- Receivables within one year -€28,855
down €28,855 (-18.1%), from €159,331 to €130,476
of which Trade receivables: -€40,745
- Cash +€15,363
up €15,363 (+21.1%), from €72,761 to €88,125
mainly Receivables within one year (+€28,855) and Net result for the year (+€16,179)
- Tax, wage and social debts -€16,411
down €16,411 (-44.4%), from €36,992 to €20,581
of which Taxes: -€13,917
- Reserves +€16,179
up €16,179 (+5.6%), from €289,338 to €305,517
of which Distributable reserves: +€16,179
- Other debts -€5,434
down €5,434 (-11.6%), from €46,800 to €41,366
- Current portion of long-term debt -€4,332
no longer reported in 2025 (was €4,332)
- Staff costs +€23,105
up €23,105 (+26.2%), from €88,047 to €111,152
- Depreciation -€5,600
down €5,600 (-35.8%), from €15,651 to €10,051
- Gross operating margin +€4,236
up €4,236 (+2.9%), from €146,513 to €150,750
- Taxes -€3,999
down €3,999 (-36.4%), from €10,982 to €6,983
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.
Derived cash bridge
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 | €400,166 | €390,502 | -€9,665 | -2.4% |
| Fixed assets | 21/28 | €14,384 | €13,595 | -€789 | -5.5% |
| Tangible fixed assets | 22/27 | €14,384 | €13,595 | -€789 | -5.5% |
| Plant, machinery and equipment | 23 | €2,904 | €10,545 | +€7,641 | +263% |
| Other tangible fixed assets | 26 | €11,479 | €3,050 | -€8,429 | -73.4% |
| Current assets | 29/58 | €385,783 | €376,907 | -€8,876 | -2.3% |
| Amounts receivable within one year | 40/41 | €159,331 | €130,476 | -€28,855 | -18.1% |
| Trade receivables | 40 | €153,019 | €112,274 | -€40,745 | -26.6% |
| Other amounts receivable | 41 | €6,312 | €18,202 | +€11,890 | +188% |
| Current investments | 50/53 | €153,690 | €154,986 | +€1,295 | +0.8% |
| Cash at bank and in hand | 54/58 | €72,761 | €88,125 | +€15,363 | +21.1% |
| Deferred charges and accrued income | 490/1 | - | €3,320 | +€3,320 | |
| Total equity and liabilities | 10/49 | €400,166 | €390,502 | -€9,665 | -2.4% |
| Equity | 10/15 | €301,738 | €317,917 | +€16,179 | +5.4% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €289,338 | €305,517 | +€16,179 | +5.6% |
| Tax-exempt reserves | 132 | €107 | €107 | = | 0.0% |
| Distributable reserves | 133 | €289,231 | €305,410 | +€16,179 | +5.6% |
| Amounts payable | 17/49 | €98,429 | €72,585 | -€25,844 | -26.3% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €98,429 | €72,585 | -€25,844 | -26.3% |
| Current portion of amounts payable after more than one year | 42 | €4,332 | - | -€4,332 | |
| Trade debts | 44 | €10,305 | €10,638 | +€334 | +3.2% |
| Suppliers | 440/4 | €10,305 | €10,638 | +€334 | +3.2% |
| Taxes, remuneration and social security | 45 | €36,992 | €20,581 | -€16,411 | -44.4% |
| Taxes | 450/3 | €15,786 | €1,869 | -€13,917 | -88.2% |
| Remuneration and social security | 454/9 | €21,206 | €18,711 | -€2,494 | -11.8% |
| Other amounts payable | 47/48 | €46,800 | €41,366 | -€5,434 | -11.6% |
| Remuneration, social security and pensions | 62 | €88,047 | €111,152 | +€23,105 | +26.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,651 | €10,051 | -€5,600 | -35.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €1,426 | +€1,426 | |
| Other operating charges | 640/8 | €766 | €1,095 | +€328 | +42.9% |
| Non-recurring operating charges | 66A | - | €1,368 | +€1,368 | |
| Gross operating margin | 9900 | €146,513 | €150,750 | +€4,236 | +2.9% |
| Operating profit (loss) | 9901 | €42,049 | €25,658 | -€16,391 | -39.0% |
| Financial income | 75/76B | €888 | €2,150 | +€1,263 | +142% |
| Recurring financial income | 75 | €888 | €2,150 | +€1,263 | +142% |
| Financial charges | 65/66B | €5,276 | €4,646 | -€630 | -11.9% |
| Recurring financial charges | 65 | €5,276 | €4,646 | -€630 | -11.9% |
| Profit (loss) for the period before taxes | 9903 | €37,661 | €23,162 | -€14,499 | -38.5% |
| Income taxes | 67/77 | €10,982 | €6,983 | -€3,999 | -36.4% |
| Profit (loss) for the period | 9904 | €26,679 | €16,179 | -€10,500 | -39.4% |
| Profit (loss) for the period to be appropriated | 9905 | €26,679 | €16,179 | -€10,500 | -39.4% |
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 13 October 2026 via checked.be.