MD AVOCAT: 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.
MD AVOCAT
Largest movements
- Cash +€19,891
up €19,891 (+39.9%), from €49,838 to €69,730
mainly Net result for the year (+€43,011) and Depreciation (+€12,419)
- Receivables within one year +€17,106
up €17,106 (+157.9%), from €10,833 to €27,939
of which Trade receivables: +€15,919
- Intangible fixed assets -€10,000
down €10,000 (-12.2%), from €81,667 to €71,667
- Tangible fixed assets -€2,419
down €2,419 (-30.8%), from €7,861 to €5,442
of which Other tangible fixed assets: -€1,491
- Reserves +€65,160
new in 2025: €65,160
- Profit (loss) carried forward -€22,981
no longer reported in 2025 (was €22,981)
- Debts after one year -€10,630
down €10,630 (-14.4%), from €73,695 to €63,065
of which Financial debts: -€8,391
- Tax, wage and social debts -€9,774
down €9,774 (-72.9%), from €13,408 to €3,634
of which Taxes: -€9,915
- Other debts +€4,947
up €4,947 (+23.6%), from €20,990 to €25,936
- Staff costs -€15,781
no longer reported in 2025 (was €15,781)
- Gross operating margin +€9,540
up €9,540 (+15.1%), from €63,092 to €72,632
- Taxes +€4,581
up €4,581 (+61.7%), from €7,419 to €12,000
- Other operating charges +€1,101
up €1,101 (+181.2%), from €607 to €1,708
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 | €150,817 | €175,175 | +€24,358 | +16.2% |
| Fixed assets | 21/28 | €89,528 | €77,109 | -€12,419 | -13.9% |
| Intangible fixed assets | 21 | €81,667 | €71,667 | -€10,000 | -12.2% |
| Tangible fixed assets | 22/27 | €7,861 | €5,442 | -€2,419 | -30.8% |
| Furniture and vehicles | 24 | €2,132 | €1,204 | -€928 | -43.5% |
| Other tangible fixed assets | 26 | €5,729 | €4,238 | -€1,491 | -26.0% |
| Current assets | 29/58 | €61,290 | €98,066 | +€36,776 | +60.0% |
| Amounts receivable within one year | 40/41 | €10,833 | €27,939 | +€17,106 | +157.9% |
| Trade receivables | 40 | €10,807 | €26,726 | +€15,919 | +147.3% |
| Other amounts receivable | 41 | €26 | €1,214 | +€1,187 | +4534.0% |
| Cash at bank and in hand | 54/58 | €49,838 | €69,730 | +€19,891 | +39.9% |
| Deferred charges and accrued income | 490/1 | €618 | €397 | -€221 | -35.8% |
| Total equity and liabilities | 10/49 | €150,817 | €175,175 | +€24,358 | +16.2% |
| Equity | 10/15 | €25,481 | €67,660 | +€42,178 | +165.5% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | - | €65,160 | +€65,160 | |
| Distributable reserves | 133 | - | €65,160 | +€65,160 | |
| Profit (loss) carried forward | 14 | €22,981 | - | -€22,981 | |
| Amounts payable | 17/49 | €125,336 | €107,515 | -€17,820 | -14.2% |
| Amounts payable after more than one year | 17 | €73,695 | €63,065 | -€10,630 | -14.4% |
| Financial debts | 170/4 | €39,901 | €31,510 | -€8,391 | -21.0% |
| Other amounts payable | 178/9 | €33,794 | €31,554 | -€2,240 | -6.6% |
| Amounts payable within one year | 42/48 | €49,345 | €42,816 | -€6,529 | -13.2% |
| Current portion of amounts payable after more than one year | 42 | €10,194 | €10,630 | +€436 | +4.3% |
| Trade debts | 44 | €4,753 | €2,615 | -€2,138 | -45.0% |
| Suppliers | 440/4 | €4,753 | €2,615 | -€2,138 | -45.0% |
| Taxes, remuneration and social security | 45 | €13,408 | €3,634 | -€9,774 | -72.9% |
| Taxes | 450/3 | €11,539 | €1,624 | -€9,915 | -85.9% |
| Remuneration and social security | 454/9 | €1,869 | €2,010 | +€141 | +7.5% |
| Other amounts payable | 47/48 | €20,990 | €25,936 | +€4,947 | +23.6% |
| Accrued charges and deferred income | 492/3 | €2,296 | €1,635 | -€661 | -28.8% |
| Remuneration, social security and pensions | 62 | €15,781 | - | -€15,781 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,335 | €12,419 | +€83 | +0.7% |
| Other operating charges | 640/8 | €607 | €1,708 | +€1,101 | +181.2% |
| Gross operating margin | 9900 | €63,092 | €72,632 | +€9,540 | +15.1% |
| Operating profit (loss) | 9901 | €34,368 | €58,505 | +€24,137 | +70.2% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €3,929 | €3,494 | -€436 | -11.1% |
| Recurring financial charges | 65 | €3,929 | €3,494 | -€436 | -11.1% |
| Profit (loss) for the period before taxes | 9903 | €30,438 | €55,011 | +€24,573 | +80.7% |
| Income taxes | 67/77 | €7,419 | €12,000 | +€4,581 | +61.7% |
| Profit (loss) for the period | 9904 | €23,019 | €43,011 | +€19,992 | +86.9% |
| Profit (loss) for the period to be appropriated | 9905 | €23,019 | €43,011 | +€19,992 | +86.9% |
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 12 October 2026 via checked.be.