M24-AVOCATS: 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.
M24-AVOCATS
Largest movements
- Receivables within one year +€96,745
up €96,745 (+22.0%), from €439,124 to €535,869
of which Trade receivables: +€177,680
- Tangible fixed assets -€22,520
down €22,520 (-26.0%), from €86,736 to €64,215
of which Furniture and vehicles: -€17,096
- Cash +€19,898
up €19,898 (+28.1%), from €70,869 to €90,768
mainly Other debts (+€106,542) and Net result for the year (+€65,219)
- Other debts +€106,542
up €106,542 (+170%), from €62,840 to €169,382
- Profit (loss) carried forward -€99,781
down €99,781 (-52.9%), from €188,659 to €88,878
- Reserves +€65,000
up €65,000 (+53.7%), from €121,000 to €186,000
- Short-term financial debts +€60,000
new in 2025: €60,000
- Debts after one year -€22,158
down €22,158 (-45.0%), from €49,274 to €27,115
- Staff costs +€44,845
up €44,845 (+21.3%), from €210,249 to €255,095
- Taxes +€6,937
up €6,937 (+25.3%), from €27,393 to €34,330
- Gross operating margin -€6,141
down €6,141 (-1.6%), from €388,634 to €382,493
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 | €604,415 | €706,205 | +€101,790 | +16.8% |
| Fixed assets | 21/28 | €87,191 | €69,647 | -€17,544 | -20.1% |
| Intangible fixed assets | 21 | €455 | €5,432 | +€4,976 | +1,093% |
| Tangible fixed assets | 22/27 | €86,736 | €64,215 | -€22,520 | -26.0% |
| Furniture and vehicles | 24 | €59,075 | €41,978 | -€17,096 | -28.9% |
| Other tangible fixed assets | 26 | €25,333 | €22,237 | -€3,096 | -12.2% |
| Assets under construction and advance payments | 27 | €2,328 | - | -€2,328 | |
| Current assets | 29/58 | €517,224 | €636,558 | +€119,334 | +23.1% |
| Amounts receivable within one year | 40/41 | €439,124 | €535,869 | +€96,745 | +22.0% |
| Trade receivables | 40 | €228,697 | €406,377 | +€177,680 | +77.7% |
| Other amounts receivable | 41 | €210,427 | €129,492 | -€80,935 | -38.5% |
| Cash at bank and in hand | 54/58 | €70,869 | €90,768 | +€19,898 | +28.1% |
| Deferred charges and accrued income | 490/1 | €7,230 | €9,922 | +€2,692 | +37.2% |
| Total equity and liabilities | 10/49 | €604,415 | €706,205 | +€101,790 | +16.8% |
| Equity | 10/15 | €316,593 | €281,813 | -€34,781 | -11.0% |
| Contributions | 10/11 | €6,935 | €6,935 | = | 0.0% |
| Reserves | 13 | €121,000 | €186,000 | +€65,000 | +53.7% |
| Distributable reserves | 133 | €121,000 | €186,000 | +€65,000 | +53.7% |
| Profit (loss) carried forward | 14 | €188,659 | €88,878 | -€99,781 | -52.9% |
| Amounts payable | 17/49 | €287,822 | €424,393 | +€136,571 | +47.4% |
| Amounts payable after more than one year | 17 | €49,274 | €27,115 | -€22,158 | -45.0% |
| Financial debts | 170/4 | €49,274 | €27,115 | -€22,158 | -45.0% |
| Amounts payable within one year | 42/48 | €238,548 | €397,277 | +€158,729 | +66.5% |
| Current portion of amounts payable after more than one year | 42 | €21,204 | €22,158 | +€954 | +4.5% |
| Financial debts | 43 | - | €60,000 | +€60,000 | |
| Credit institutions | 430/8 | - | €60,000 | +€60,000 | |
| Trade debts | 44 | €75,906 | €77,479 | +€1,574 | +2.1% |
| Suppliers | 440/4 | €75,906 | €77,479 | +€1,574 | +2.1% |
| Taxes, remuneration and social security | 45 | €78,598 | €68,258 | -€10,341 | -13.2% |
| Taxes | 450/3 | €50,840 | €38,291 | -€12,548 | -24.7% |
| Remuneration and social security | 454/9 | €27,759 | €29,966 | +€2,208 | +8.0% |
| Other amounts payable | 47/48 | €62,840 | €169,382 | +€106,542 | +170% |
| Non-recurring operating income | 76A | €1,146 | - | -€1,146 | |
| Remuneration, social security and pensions | 62 | €210,249 | €255,095 | +€44,845 | +21.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,275 | €23,753 | +€2,478 | +11.6% |
| Other operating charges | 640/8 | €1,363 | €539 | -€824 | -60.4% |
| Gross operating margin | 9900 | €388,634 | €382,493 | -€6,141 | -1.6% |
| Operating profit (loss) | 9901 | €155,748 | €103,106 | -€52,641 | -33.8% |
| Financial income | 75/76B | €843 | €1,880 | +€1,037 | +123% |
| Recurring financial income | 75 | €843 | €1,880 | +€1,037 | +123% |
| Financial charges | 65/66B | €7,230 | €5,437 | -€1,793 | -24.8% |
| Recurring financial charges | 65 | €7,230 | €5,437 | -€1,793 | -24.8% |
| Profit (loss) for the period before taxes | 9903 | €149,361 | €99,550 | -€49,811 | -33.3% |
| Income taxes | 67/77 | €27,393 | €34,330 | +€6,937 | +25.3% |
| Profit (loss) for the period | 9904 | €121,968 | €65,219 | -€56,748 | -46.5% |
| Profit (loss) for the period to be appropriated | 9905 | €121,968 | €65,219 | -€56,748 | -46.5% |
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 28 October 2026 via checked.be.