McAvenue: 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.
McAvenue
Largest movements
- Stocks and contracts -€54,474
down €54,474 (-13.7%), from €396,448 to €341,974
- Tangible fixed assets -€23,268
down €23,268 (-17.9%), from €129,802 to €106,534
of which Furniture and vehicles: -€12,398
- Cash -€8,350
down €8,350 (-55.6%), from €15,010 to €6,659
mainly Trade debts (-€79,664) and Other debts (-€28,618)
- Trade debts -€79,664
down €79,664 (-60.1%), from €132,510 to €52,846
- Other debts -€28,618
down €28,618 (-12.3%), from €232,215 to €203,596
- Tax, wage and social debts +€17,352
up €17,352 (+54.7%), from €31,695 to €49,047
of which Remuneration and social security: +€15,000
- Debts after one year -€9,865
down €9,865 (-28.7%), from €34,360 to €24,495
- Profit (loss) carried forward +€7,002
up €7,002 (+37.8%), from -€18,511 to -€11,509
- Staff costs -€16,000
no longer reported in 2025 (was €16,000)
- Gross operating margin -€5,157
down €5,157 (-11.5%), from €44,696 to €39,539
- Other operating charges -€2,464
down €2,464 (-26.8%), from €9,199 to €6,735
- Financial charges -€688
down €688 (-29.1%), from €2,367 to €1,679
- Depreciation +€667
up €667 (+2.9%), from €22,601 to €23,268
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 | €543,629 | €455,654 | -€87,976 | -16.2% |
| Fixed assets | 21/28 | €129,802 | €106,534 | -€23,268 | -17.9% |
| Tangible fixed assets | 22/27 | €129,802 | €106,534 | -€23,268 | -17.9% |
| Furniture and vehicles | 24 | €53,251 | €40,853 | -€12,398 | -23.3% |
| Other tangible fixed assets | 26 | €76,550 | €65,680 | -€10,870 | -14.2% |
| Current assets | 29/58 | €413,828 | €349,120 | -€64,707 | -15.6% |
| Stocks and contracts in progress | 3 | €396,448 | €341,974 | -€54,474 | -13.7% |
| Stocks | 30/36 | €396,448 | €341,974 | -€54,474 | -13.7% |
| Cash at bank and in hand | 54/58 | €15,010 | €6,659 | -€8,350 | -55.6% |
| Deferred charges and accrued income | 490/1 | €2,370 | €487 | -€1,883 | -79.5% |
| Total equity and liabilities | 10/49 | €543,629 | €455,654 | -€87,976 | -16.2% |
| Equity | 10/15 | €103,350 | €110,351 | +€7,002 | +6.8% |
| Contributions | 10/11 | €120,000 | €120,000 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€18,511 | -€11,509 | +€7,002 | +37.8% |
| Amounts payable | 17/49 | €440,280 | €345,303 | -€94,977 | -21.6% |
| Amounts payable after more than one year | 17 | €34,360 | €24,495 | -€9,865 | -28.7% |
| Financial debts | 170/4 | €34,360 | €24,495 | -€9,865 | -28.7% |
| Amounts payable within one year | 42/48 | €405,920 | €315,352 | -€90,568 | -22.3% |
| Current portion of amounts payable after more than one year | 42 | €9,501 | €9,863 | +€362 | +3.8% |
| Trade debts | 44 | €132,510 | €52,846 | -€79,664 | -60.1% |
| Suppliers | 440/4 | €132,510 | €52,846 | -€79,664 | -60.1% |
| Taxes, remuneration and social security | 45 | €31,695 | €49,047 | +€17,352 | +54.7% |
| Taxes | 450/3 | €9,695 | €12,047 | +€2,352 | +24.3% |
| Remuneration and social security | 454/9 | €22,000 | €37,000 | +€15,000 | +68.2% |
| Other amounts payable | 47/48 | €232,215 | €203,596 | -€28,618 | -12.3% |
| Accrued charges and deferred income | 492/3 | - | €5,456 | +€5,456 | |
| Remuneration, social security and pensions | 62 | €16,000 | - | -€16,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,601 | €23,268 | +€667 | +2.9% |
| Other operating charges | 640/8 | €9,199 | €6,735 | -€2,464 | -26.8% |
| Gross operating margin | 9900 | €44,696 | €39,539 | -€5,157 | -11.5% |
| Operating profit (loss) | 9901 | -€3,105 | €9,536 | +€12,641 | |
| Financial charges | 65/66B | €2,367 | €1,679 | -€688 | -29.1% |
| Recurring financial charges | 65 | €2,367 | €1,679 | -€688 | -29.1% |
| Profit (loss) for the period before taxes | 9903 | -€5,472 | €7,857 | +€13,329 | |
| Income taxes | 67/77 | €577 | €855 | +€278 | +48.2% |
| Profit (loss) for the period | 9904 | -€6,049 | €7,002 | +€13,051 | |
| Profit (loss) for the period to be appropriated | 9905 | -€6,049 | €7,002 | +€13,051 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.