SPE III AVIGNON: 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.
SPE III AVIGNON
Largest movements
- Tangible fixed assets -€1.2m
down €1.2m (-5.2%), from €23.2m to €22.0m
of which Land and buildings: -€1.3m
- Cash +€537,717
up €537,717 (+87.3%), from €616,043 to €1.2m
mainly Current portion of long-term debt (+€13.0m) and Depreciation (+€1.3m)
- Receivables within one year -€305,279
down €305,279 (-57.4%), from €531,738 to €226,460
of which Trade receivables: -€267,748
- Debts after one year -€13.0m
down €13.0m (-97.9%), from €13.3m to €272,710
of which Financial debts: -€13.0m
- Current portion of long-term debt +€13.0m
new in 2025: €13.0m
- Profit (loss) carried forward -€1.3m
down €1.3m (-11.2%), from -€11.9m to -€13.2m
- Financial charges +€488,183
up €488,183 (+54.6%), from €893,376 to €1.4m
- Turnover +€193,594
up €193,594 (+8.9%), from €2.2m to €2.4m
- Other operating charges +€122,386
up €122,386 (+132%), from €92,585 to €214,971
- Depreciation -€50,165
down €50,165 (-3.6%), from €1.4m to €1.3m
- Write-downs -€46,138
new in 2025: -€46,138
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 | €27,638,396 | €26,524,203 | -€1.1m | -4.0% |
| Formation expenses | 20 | €5,656 | €559 | -€5,097 | -90.1% |
| Fixed assets | 21/28 | €23,191,770 | €21,994,876 | -€1.2m | -5.2% |
| Tangible fixed assets | 22/27 | €23,191,770 | €21,994,876 | -€1.2m | -5.2% |
| Land and buildings | 22 | €23,173,853 | €21,861,066 | -€1.3m | -5.7% |
| Assets under construction and advance payments | 27 | €17,917 | €133,810 | +€115,894 | +647% |
| Current assets | 29/58 | €4,440,970 | €4,528,769 | +€87,799 | +2.0% |
| Amounts receivable within one year | 40/41 | €531,738 | €226,460 | -€305,279 | -57.4% |
| Trade receivables | 40 | €494,208 | €226,460 | -€267,748 | -54.2% |
| Other amounts receivable | 41 | €37,530 | €0 | -€37,530 | -100% |
| Cash at bank and in hand | 54/58 | €616,043 | €1,153,760 | +€537,717 | +87.3% |
| Deferred charges and accrued income | 490/1 | €3,293,189 | €3,148,549 | -€144,640 | -4.4% |
| Total equity and liabilities | 10/49 | €27,638,396 | €26,524,203 | -€1.1m | -4.0% |
| Equity | 10/15 | €13,199,548 | €11,871,126 | -€1.3m | -10.1% |
| Contributions | 10/11 | €25,086,677 | €25,086,677 | = | 0.0% |
| Capital | 10 | - | €25,086,677 | +€25.1m | |
| Issued capital | 100 | - | €25,086,677 | +€25.1m | |
| Profit (loss) carried forward | 14 | -€11,887,129 | -€13,215,551 | -€1.3m | -11.2% |
| Amounts payable | 17/49 | €14,438,848 | €14,653,077 | +€214,229 | +1.5% |
| Amounts payable after more than one year | 17 | €13,272,710 | €272,710 | -€13.0m | -97.9% |
| Financial debts | 170/4 | €13,000,000 | €0 | -€13.0m | -100% |
| Other loans | 174 | €13,000,000 | €0 | -€13.0m | -100% |
| Other amounts payable | 178/9 | €272,710 | €272,710 | = | 0.0% |
| Amounts payable within one year | 42/48 | €835,215 | €13,782,856 | +€12.9m | +1,550% |
| Current portion of amounts payable after more than one year | 42 | - | €13,000,000 | +€13.0m | |
| Trade debts | 44 | €371,153 | €187,075 | -€184,078 | -49.6% |
| Suppliers | 440/4 | €371,153 | €187,075 | -€184,078 | -49.6% |
| Taxes, remuneration and social security | 45 | €4,755 | €6,474 | +€1,719 | +36.1% |
| Taxes | 450/3 | €4,755 | €6,474 | +€1,719 | +36.1% |
| Other amounts payable | 47/48 | €459,307 | €589,307 | +€130,000 | +28.3% |
| Accrued charges and deferred income | 492/3 | €330,923 | €597,511 | +€266,588 | +80.6% |
| Operating income | 70/76A | €2,294,586 | €2,483,316 | +€188,730 | +8.2% |
| Turnover | 70 | €2,169,347 | €2,362,940 | +€193,594 | +8.9% |
| Other operating income | 74 | €125,239 | €120,376 | -€4,864 | -3.9% |
| Operating charges | 60/66A | €2,383,077 | €2,431,381 | +€48,305 | +2.0% |
| Services and other goods | 61 | €906,121 | €928,343 | +€22,221 | +2.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,384,370 | €1,334,205 | -€50,165 | -3.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | -€46,138 | -€46,138 | |
| Other operating charges | 640/8 | €92,585 | €214,971 | +€122,386 | +132% |
| Operating profit (loss) | 9901 | -€88,491 | €51,935 | +€140,426 | |
| Financial income | 75/76B | €1,322 | €1,203 | -€120 | -9.1% |
| Recurring financial income | 75 | €1,322 | €1,203 | -€120 | -9.1% |
| Other financial income | 752/9 | €1,322 | €1,203 | -€120 | -9.1% |
| Financial charges | 65/66B | €893,376 | €1,381,559 | +€488,183 | +54.6% |
| Recurring financial charges | 65 | €893,376 | €1,381,559 | +€488,183 | +54.6% |
| Debt charges | 650 | €892,125 | €1,380,347 | +€488,222 | +54.7% |
| Other financial charges | 652/9 | €1,251 | €1,212 | -€39 | -3.1% |
| Profit (loss) for the period before taxes | 9903 | -€980,545 | -€1,328,422 | -€347,877 | -35.5% |
| Profit (loss) for the period | 9904 | -€980,545 | -€1,328,422 | -€347,877 | -35.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€980,545 | -€1,328,422 | -€347,877 | -35.5% |
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 30 October 2026 via checked.be.