DAVID WALSH - AVOCAT: what changed
DAVID WALSH - AVOCAT
Largest movements
- Intangible fixed assets -€18,200
down €18,200 (-20.0%), from €91,000 to €72,800
- Cash -€6,465
down €6,465 (-87.7%), from €7,368 to €903
mainly Debts after one year (-€20,269) and Contributions, distributions and other (-€15,900)
- Receivables within one year -€3,506
down €3,506 (-28.7%), from €12,201 to €8,695
of which Other amounts receivable: -€2,358
- Tangible fixed assets -€2,821
down €2,821 (-18.5%), from €15,263 to €12,442
of which Furniture and vehicles: -€4,191
- Debts after one year -€20,269
down €20,269 (-69.5%), from €29,152 to €8,883
- Other debts +€7,059
up €7,059 (+19.3%), from €36,498 to €43,556
- Tax, wage and social debts -€6,640
down €6,640 (-29.9%), from €22,216 to €15,576
of which Taxes: -€9,022
- Accrued charges and deferred income -€5,496
no longer reported in 2025 (was €5,496)
- Trade debts -€4,011
down €4,011 (-78.2%), from €5,129 to €1,119
- Gross operating margin +€14,109
up €14,109 (+17.3%), from €81,557 to €95,666
- Staff costs +€3,869
up €3,869 (+10.7%), from €36,263 to €40,132
- Financial charges -€1,887
down €1,887 (-39.3%), from €4,797 to €2,911
- Taxes +€1,576
up €1,576 (+29.8%), from €5,282 to €6,858
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €125,833 | €94,841 | -€30,992 | -24.6% |
| Fixed assets | 21/28 | €106,263 | €85,242 | -€21,021 | -19.8% |
| Intangible fixed assets | 21 | €91,000 | €72,800 | -€18,200 | -20.0% |
| Tangible fixed assets | 22/27 | €15,263 | €12,442 | -€2,821 | -18.5% |
| Furniture and vehicles | 24 | €8,252 | €4,061 | -€4,191 | -50.8% |
| Other tangible fixed assets | 26 | €7,012 | €8,382 | +€1,370 | +19.5% |
| Current assets | 29/58 | €19,569 | €9,598 | -€9,971 | -51.0% |
| Amounts receivable within one year | 40/41 | €12,201 | €8,695 | -€3,506 | -28.7% |
| Trade receivables | 40 | €8,201 | €7,053 | -€1,148 | -14.0% |
| Other amounts receivable | 41 | €4,000 | €1,642 | -€2,358 | -59.0% |
| Cash at bank and in hand | 54/58 | €7,368 | €903 | -€6,465 | -87.7% |
| Total equity and liabilities | 10/49 | €125,833 | €94,841 | -€30,992 | -24.6% |
| Equity | 10/15 | €5,429 | €5,438 | +€9 | +0.2% |
| Contributions | 10/11 | €1,800 | €1,800 | = | 0.0% |
| Reserves | 13 | €3,600 | €3,600 | = | 0.0% |
| Distributable reserves | 133 | €3,600 | €3,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €29 | €38 | +€9 | +31.0% |
| Amounts payable | 17/49 | €120,404 | €89,403 | -€31,001 | -25.7% |
| Amounts payable after more than one year | 17 | €29,152 | €8,883 | -€20,269 | -69.5% |
| Financial debts | 170/4 | €29,152 | €8,883 | -€20,269 | -69.5% |
| Amounts payable within one year | 42/48 | €85,756 | €80,520 | -€5,236 | -6.1% |
| Current portion of amounts payable after more than one year | 42 | €21,913 | €20,269 | -€1,644 | -7.5% |
| Trade debts | 44 | €5,129 | €1,119 | -€4,011 | -78.2% |
| Suppliers | 440/4 | €5,129 | €1,119 | -€4,011 | -78.2% |
| Taxes, remuneration and social security | 45 | €22,216 | €15,576 | -€6,640 | -29.9% |
| Taxes | 450/3 | €16,033 | €7,011 | -€9,022 | -56.3% |
| Remuneration and social security | 454/9 | €6,183 | €8,565 | +€2,382 | +38.5% |
| Other amounts payable | 47/48 | €36,498 | €43,556 | +€7,059 | +19.3% |
| Accrued charges and deferred income | 492/3 | €5,496 | - | -€5,496 | |
| Remuneration, social security and pensions | 62 | €36,263 | €40,132 | +€3,869 | +10.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,322 | €24,586 | +€264 | +1.1% |
| Other operating charges | 640/8 | €4,694 | €5,270 | +€576 | +12.3% |
| Gross operating margin | 9900 | €81,557 | €95,666 | +€14,109 | +17.3% |
| Operating profit (loss) | 9901 | €16,277 | €25,678 | +€9,401 | +57.8% |
| Financial income | 75/76B | €77 | €0 | -€77 | -99.7% |
| Recurring financial income | 75 | €77 | €0 | -€77 | -99.7% |
| Financial charges | 65/66B | €4,797 | €2,911 | -€1,887 | -39.3% |
| Recurring financial charges | 65 | €4,797 | €2,911 | -€1,887 | -39.3% |
| Profit (loss) for the period before taxes | 9903 | €11,557 | €22,767 | +€11,211 | +97.0% |
| Income taxes | 67/77 | €5,282 | €6,858 | +€1,576 | +29.8% |
| Profit (loss) for the period | 9904 | €6,274 | €15,909 | +€9,635 | +154% |
| Profit (loss) for the period to be appropriated | 9905 | €6,274 | €15,909 | +€9,635 | +154% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 6 November 2026 via checked.be.