SF 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.
SF AVOCAT
Largest movements
- Cash -€13,072
down €13,072 (-11.8%), from €110,940 to €97,868
mainly Contributions, distributions and other (-€109,550) and Receivables within one year (-€2,832)
- Receivables within one year +€2,832
up €2,832 (+46.0%), from €6,151 to €8,982
of which Trade receivables: +€2,835
- Reserves -€33,250
no longer reported in 2025 (was €33,250)
- Other debts +€18,662
up €18,662 (+31.7%), from €58,930 to €77,592
- Tax, wage and social debts +€5,336
up €5,336 (+40.2%), from €13,265 to €18,602
- Gross operating margin +€17,466
up €17,466 (+21.8%), from €80,190 to €97,656
- Depreciation -€4,203
down €4,203 (-97.2%), from €4,323 to €120
- Taxes +€3,465
up €3,465 (+21.1%), from €16,415 to €19,880
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 | €117,829 | €107,506 | -€10,323 | -8.8% |
| Fixed assets | 21/28 | €120 | €0 | -€120 | -100% |
| Tangible fixed assets | 22/27 | €120 | €0 | -€120 | -100% |
| Furniture and vehicles | 24 | €120 | €0 | -€120 | -100% |
| Current assets | 29/58 | €117,709 | €107,506 | -€10,203 | -8.7% |
| Amounts receivable within one year | 40/41 | €6,151 | €8,982 | +€2,832 | +46.0% |
| Trade receivables | 40 | €6,147 | €8,982 | +€2,835 | +46.1% |
| Other amounts receivable | 41 | €4 | - | -€4 | |
| Cash at bank and in hand | 54/58 | €110,940 | €97,868 | -€13,072 | -11.8% |
| Deferred charges and accrued income | 490/1 | €618 | €656 | +€38 | +6.1% |
| Total equity and liabilities | 10/49 | €117,829 | €107,506 | -€10,323 | -8.8% |
| Equity | 10/15 | €43,469 | €10,223 | -€33,246 | -76.5% |
| Contributions | 10/11 | €10,200 | €10,200 | = | 0.0% |
| Reserves | 13 | €33,250 | - | -€33,250 | |
| Distributable reserves | 133 | €33,250 | - | -€33,250 | |
| Profit (loss) carried forward | 14 | €19 | €23 | +€4 | +21.7% |
| Amounts payable | 17/49 | €74,360 | €97,283 | +€22,923 | +30.8% |
| Amounts payable within one year | 42/48 | €74,249 | €97,086 | +€22,837 | +30.8% |
| Trade debts | 44 | €1,853 | €691 | -€1,162 | -62.7% |
| Suppliers | 440/4 | €1,853 | €691 | -€1,162 | -62.7% |
| Advances received on contracts in progress | 46 | €200 | €200 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €13,265 | €18,602 | +€5,336 | +40.2% |
| Taxes | 450/3 | €13,265 | €18,602 | +€5,336 | +40.2% |
| Other amounts payable | 47/48 | €58,930 | €77,592 | +€18,662 | +31.7% |
| Accrued charges and deferred income | 492/3 | €111 | €197 | +€87 | +78.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,323 | €120 | -€4,203 | -97.2% |
| Other operating charges | 640/8 | €1,497 | €1,161 | -€336 | -22.5% |
| Gross operating margin | 9900 | €80,190 | €97,656 | +€17,466 | +21.8% |
| Operating profit (loss) | 9901 | €74,370 | €96,375 | +€22,005 | +29.6% |
| Financial charges | 65/66B | €243 | €191 | -€52 | -21.3% |
| Recurring financial charges | 65 | €243 | €191 | -€52 | -21.3% |
| Profit (loss) for the period before taxes | 9903 | €74,127 | €96,184 | +€22,057 | +29.8% |
| Income taxes | 67/77 | €16,415 | €19,880 | +€3,465 | +21.1% |
| Profit (loss) for the period | 9904 | €57,712 | €76,304 | +€18,592 | +32.2% |
| Profit (loss) for the period to be appropriated | 9905 | €57,712 | €76,304 | +€18,592 | +32.2% |
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 21 October 2026 via checked.be.