AVVERDE: 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.
AVVERDE
Largest movements
- Cash -€36,018
down €36,018 (-26.1%), from €137,735 to €101,717
mainly Net result for the year (-€23,031) and Tax, wage and social debts (-€17,561)
- Current investments -€8,110
down €8,110 (-6.4%), from €127,670 to €119,560
- Receivables within one year +€5,347
up €5,347 (+923.4%), from €579 to €5,926
of which Other amounts receivable: +€2,784
- Profit (loss) carried forward -€23,031
down €23,031, from €411 to -€22,620
- Tax, wage and social debts -€17,561
no longer reported in 2025 (was €17,561)
- Gross operating margin -€53,227
down €53,227, from €47,478 to -€5,749
- Financial charges +€30,951
up €30,951 (+313.1%), from €9,885 to €40,836
of which Financial charges: +€28,499
- Taxes -€12,481
down €12,481 (-76.9%), from €16,226 to €3,745
- Financial income +€5,971
up €5,971 (+25.7%), from €23,205 to €29,176
- Depreciation +€606
up €606 (+69.6%), from €871 to €1,477
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 | €273,554 | €234,705 | -€38,849 | -14.2% |
| Fixed assets | 21/28 | €5,835 | €5,575 | -€261 | -4.5% |
| Tangible fixed assets | 22/27 | €5,835 | €5,575 | -€261 | -4.5% |
| Furniture and vehicles | 24 | €5,835 | €5,575 | -€261 | -4.5% |
| Current assets | 29/58 | €267,719 | €229,130 | -€38,589 | -14.4% |
| Amounts receivable within one year | 40/41 | €579 | €5,926 | +€5,347 | +923.4% |
| Trade receivables | 40 | - | €2,563 | +€2,563 | |
| Other amounts receivable | 41 | €579 | €3,363 | +€2,784 | +480.8% |
| Current investments | 50/53 | €127,670 | €119,560 | -€8,110 | -6.4% |
| Cash at bank and in hand | 54/58 | €137,735 | €101,717 | -€36,018 | -26.1% |
| Deferred charges and accrued income | 490/1 | €1,735 | €1,927 | +€192 | +11.1% |
| Total equity and liabilities | 10/49 | €273,554 | €234,705 | -€38,849 | -14.2% |
| Equity | 10/15 | €246,561 | €223,530 | -€23,031 | -9.3% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Reserves | 13 | €225,690 | €225,689 | -€1 | 0.0% |
| Tax-exempt reserves | 132 | €76 | €76 | -€0 | -0.2% |
| Distributable reserves | 133 | €225,614 | €225,614 | -€0 | 0.0% |
| Profit (loss) carried forward | 14 | €411 | -€22,620 | -€23,031 | |
| Amounts payable | 17/49 | €26,993 | €11,175 | -€15,818 | -58.6% |
| Amounts payable within one year | 42/48 | €26,993 | €11,175 | -€15,818 | -58.6% |
| Trade debts | 44 | €2,020 | €3,496 | +€1,476 | +73.1% |
| Suppliers | 440/4 | €2,020 | €3,496 | +€1,476 | +73.1% |
| Taxes, remuneration and social security | 45 | €17,561 | - | -€17,561 | |
| Taxes | 450/3 | €17,561 | - | -€17,561 | |
| Other amounts payable | 47/48 | €7,412 | €7,678 | +€266 | +3.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €871 | €1,477 | +€606 | +69.6% |
| Other operating charges | 640/8 | €510 | €400 | -€110 | -21.6% |
| Gross operating margin | 9900 | €47,478 | -€5,749 | -€53,227 | |
| Operating profit (loss) | 9901 | €46,097 | -€7,626 | -€53,723 | |
| Financial income | 75/76B | €23,205 | €29,176 | +€5,971 | +25.7% |
| Recurring financial income | 75 | €23,205 | €29,176 | +€5,971 | +25.7% |
| Financial charges | 65/66B | €9,885 | €40,836 | +€30,951 | +313.1% |
| Recurring financial charges | 65 | €9,885 | €38,384 | +€28,499 | +288.3% |
| Non-recurring financial charges | 66B | - | €2,452 | +€2,452 | |
| Profit (loss) for the period before taxes | 9903 | €59,417 | -€19,285 | -€78,702 | |
| Income taxes | 67/77 | €16,226 | €3,745 | -€12,481 | -76.9% |
| Profit (loss) for the period | 9904 | €43,191 | -€23,031 | -€66,222 | |
| Profit (loss) for the period to be appropriated | 9905 | €43,191 | -€23,031 | -€66,222 |
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.