AVTECH: 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.
AVTECH
Largest movements
- Current investments +€69,223
up €69,223 (+30.8%), from €224,799 to €294,022
- Cash -€45,195
down €45,195 (-49.4%), from €91,446 to €46,251
mainly Current investments (-€69,223) and Trade debts (-€51,495)
- Receivables within one year -€38,644
down €38,644 (-62.7%), from €61,603 to €22,958
of which Trade receivables: -€42,674
- Tangible fixed assets -€27,369
down €27,369 (-9.5%), from €287,598 to €260,229
- Trade debts -€51,495
down €51,495 (-98.2%), from €52,427 to €932
- Reserves +€26,902
up €26,902 (+13.2%), from €203,118 to €230,020
- Accrued charges and deferred income +€19,223
up €19,223 (+31.3%), from €61,400 to €80,623
- Debts after one year -€19,000
down €19,000 (-75.0%), from €25,334 to €6,334
- Other debts -€14,711
down €14,711 (-84.4%), from €17,425 to €2,714
- Depreciation +€5,310
up €5,310 (+21.9%), from €24,299 to €29,609
- Taxes -€1,706
down €1,706 (-8.8%), from €19,465 to €17,759
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 | €669,054 | €627,168 | -€41,885 | -6.3% |
| Fixed assets | 21/28 | €287,598 | €260,229 | -€27,369 | -9.5% |
| Tangible fixed assets | 22/27 | €287,598 | €260,229 | -€27,369 | -9.5% |
| Land and buildings | 22 | €225,088 | €211,497 | -€13,592 | -6.0% |
| Plant, machinery and equipment | 23 | €10,441 | €8,780 | -€1,661 | -15.9% |
| Furniture and vehicles | 24 | €52,069 | €39,952 | -€12,117 | -23.3% |
| Current assets | 29/58 | €381,456 | €366,940 | -€14,516 | -3.8% |
| Amounts receivable within one year | 40/41 | €61,603 | €22,958 | -€38,644 | -62.7% |
| Trade receivables | 40 | €60,360 | €17,686 | -€42,674 | -70.7% |
| Other amounts receivable | 41 | €1,243 | €5,272 | +€4,030 | +324.3% |
| Current investments | 50/53 | €224,799 | €294,022 | +€69,223 | +30.8% |
| Cash at bank and in hand | 54/58 | €91,446 | €46,251 | -€45,195 | -49.4% |
| Deferred charges and accrued income | 490/1 | €3,608 | €3,708 | +€100 | +2.8% |
| Total equity and liabilities | 10/49 | €669,054 | €627,168 | -€41,885 | -6.3% |
| Equity | 10/15 | €480,994 | €507,896 | +€26,902 | +5.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €203,118 | €230,020 | +€26,902 | +13.2% |
| Distributable reserves | 133 | €203,118 | €230,020 | +€26,902 | +13.2% |
| Profit (loss) carried forward | 14 | €271,676 | €271,676 | = | 0.0% |
| Amounts payable | 17/49 | €188,060 | €119,272 | -€68,788 | -36.6% |
| Amounts payable after more than one year | 17 | €25,334 | €6,334 | -€19,000 | -75.0% |
| Financial debts | 170/4 | €25,334 | €6,334 | -€19,000 | -75.0% |
| Amounts payable within one year | 42/48 | €101,327 | €32,316 | -€69,011 | -68.1% |
| Current portion of amounts payable after more than one year | 42 | €19,000 | €19,000 | = | 0.0% |
| Trade debts | 44 | €52,427 | €932 | -€51,495 | -98.2% |
| Suppliers | 440/4 | €52,427 | €932 | -€51,495 | -98.2% |
| Taxes, remuneration and social security | 45 | €12,475 | €9,670 | -€2,806 | -22.5% |
| Taxes | 450/3 | €12,475 | €9,670 | -€2,806 | -22.5% |
| Other amounts payable | 47/48 | €17,425 | €2,714 | -€14,711 | -84.4% |
| Accrued charges and deferred income | 492/3 | €61,400 | €80,623 | +€19,223 | +31.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,299 | €29,609 | +€5,310 | +21.9% |
| Other operating charges | 640/8 | €2,941 | €2,646 | -€296 | -10.0% |
| Gross operating margin | 9900 | €93,010 | €93,061 | +€52 | +0.1% |
| Operating profit (loss) | 9901 | €65,770 | €60,807 | -€4,963 | -7.5% |
| Financial income | 75/76B | €144 | €190 | +€45 | +31.3% |
| Recurring financial income | 75 | €144 | €190 | +€45 | +31.3% |
| Financial charges | 65/66B | €1,469 | €1,335 | -€134 | -9.1% |
| Recurring financial charges | 65 | €1,469 | €1,335 | -€134 | -9.1% |
| Profit (loss) for the period before taxes | 9903 | €64,445 | €59,662 | -€4,784 | -7.4% |
| Income taxes | 67/77 | €19,465 | €17,759 | -€1,706 | -8.8% |
| Profit (loss) for the period | 9904 | €44,981 | €41,902 | -€3,078 | -6.8% |
| Profit (loss) for the period to be appropriated | 9905 | €44,981 | €41,902 | -€3,078 | -6.8% |
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 4 October 2026 via checked.be.