AVW: 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.
AVW
Largest movements
- Cash +€28,148
up €28,148 (+30.4%), from €92,548 to €120,696
mainly Receivables within one year (+€25,450) and Net result for the year (+€11,765)
- Receivables within one year -€25,450
down €25,450 (-100%), from €25,450 to €0
of which Trade receivables: -€25,450
- Reserves +€11,765
up €11,765 (+13.0%), from €90,785 to €102,549
of which Distributable reserves: +€11,765
- Other debts -€10,095
down €10,095 (-55.9%), from €18,069 to €7,974
- Accrued charges and deferred income +€1,220
up €1,220 (+102%), from €1,200 to €2,420
- Gross operating margin -€2,152
down €2,152 (-13.1%), from €16,451 to €14,299
- Taxes +€1,051
up €1,051 (+68.7%), from €1,531 to €2,582
- Financial income -€169
down €169 (-27.2%), from €620 to €451
- Financial charges +€168
up €168 (+157%), from €107 to €275
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €117,998 | €120,696 | +€2,698 | +2.3% |
| Current assets | 29/58 | €117,998 | €120,696 | +€2,698 | +2.3% |
| Amounts receivable within one year | 40/41 | €25,450 | €0 | -€25,450 | -100% |
| Trade receivables | 40 | €25,450 | €0 | -€25,450 | -100% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €92,548 | €120,696 | +€28,148 | +30.4% |
| Total equity and liabilities | 10/49 | €117,998 | €120,696 | +€2,698 | +2.3% |
| Equity | 10/15 | €97,385 | €109,149 | +€11,765 | +12.1% |
| Contributions | 10/11 | €6,600 | €6,600 | = | 0.0% |
| Reserves | 13 | €90,785 | €102,549 | +€11,765 | +13.0% |
| Non-distributable reserves | 130/1 | €1,960 | €1,960 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,960 | €1,960 | = | 0.0% |
| Distributable reserves | 133 | €88,825 | €100,589 | +€11,765 | +13.2% |
| Amounts payable | 17/49 | €20,614 | €11,547 | -€9,067 | -44.0% |
| Amounts payable within one year | 42/48 | €19,414 | €9,127 | -€10,287 | -53.0% |
| Trade debts | 44 | €0 | €111 | +€111 | |
| Suppliers | 440/4 | €0 | €111 | +€111 | |
| Taxes, remuneration and social security | 45 | €1,345 | €1,041 | -€304 | -22.6% |
| Taxes | 450/3 | €1,345 | €1,041 | -€304 | -22.6% |
| Other amounts payable | 47/48 | €18,069 | €7,974 | -€10,095 | -55.9% |
| Accrued charges and deferred income | 492/3 | €1,200 | €2,420 | +€1,220 | +102% |
| Other operating charges | 640/8 | €126 | €128 | +€2 | +1.6% |
| Gross operating margin | 9900 | €16,451 | €14,299 | -€2,152 | -13.1% |
| Operating profit (loss) | 9901 | €16,325 | €14,171 | -€2,154 | -13.2% |
| Financial income | 75/76B | €620 | €451 | -€169 | -27.2% |
| Recurring financial income | 75 | €620 | €451 | -€169 | -27.2% |
| Financial charges | 65/66B | €107 | €275 | +€168 | +157% |
| Recurring financial charges | 65 | €107 | €275 | +€168 | +157% |
| Profit (loss) for the period before taxes | 9903 | €16,838 | €14,347 | -€2,491 | -14.8% |
| Income taxes | 67/77 | €1,531 | €2,582 | +€1,051 | +68.7% |
| Profit (loss) for the period | 9904 | €15,307 | €11,765 | -€3,543 | -23.1% |
| Profit (loss) for the period to be appropriated | 9905 | €15,307 | €11,765 | -€3,543 | -23.1% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.