AVCIM: what changed
Two fiscal 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.
AVCIM
Largest movements
- Receivables within one year -€54,792
down €54,792 (-22.2%), from €246,912 to €192,120
of which Other amounts receivable: -€28,273
- Tangible fixed assets -€6,150
down €6,150 (-2.9%), from €212,460 to €206,310
of which Land and buildings: -€5,152
- Trade debts -€58,215
down €58,215 (-59.5%), from €97,841 to €39,626
- Profit (loss) carried forward +€21,748
up €21,748 (+15.3%), from €142,002 to €163,750
- Short-term financial debts -€15,551
no longer reported in 2025 (was €15,551)
- Debts after one year -€11,275
down €11,275 (-6.3%), from €180,259 to €168,984
- Other operating charges -€15,153
down €15,153 (-87.2%), from €17,373 to €2,220
- Financial charges -€13,372
down €13,372 (-63.9%), from €20,931 to €7,559
- Gross operating margin -€10,954
down €10,954 (-19.6%), from €56,017 to €45,063
- Taxes +€3,652
up €3,652 (+91.3%), from €4,001 to €7,653
- Financial income -€930
down €930 (-66.9%), from €1,390 to €460
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 | €467,876 | €409,023 | -€58,853 | -12.6% |
| Fixed assets | 21/28 | €214,310 | €208,160 | -€6,150 | -2.9% |
| Tangible fixed assets | 22/27 | €212,460 | €206,310 | -€6,150 | -2.9% |
| Land and buildings | 22 | €210,406 | €205,255 | -€5,152 | -2.4% |
| Furniture and vehicles | 24 | €2,053 | €1,055 | -€998 | -48.6% |
| Financial fixed assets | 28 | €1,850 | €1,850 | = | 0.0% |
| Current assets | 29/58 | €253,567 | €200,863 | -€52,704 | -20.8% |
| Amounts receivable within one year | 40/41 | €246,912 | €192,120 | -€54,792 | -22.2% |
| Trade receivables | 40 | €132,617 | €106,098 | -€26,519 | -20.0% |
| Other amounts receivable | 41 | €114,295 | €86,022 | -€28,273 | -24.7% |
| Cash at bank and in hand | 54/58 | €6,655 | €8,743 | +€2,088 | +31.4% |
| Total equity and liabilities | 10/49 | €467,876 | €409,023 | -€58,853 | -12.6% |
| Equity | 10/15 | €162,462 | €184,210 | +€21,748 | +13.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 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 | €142,002 | €163,750 | +€21,748 | +15.3% |
| Amounts payable | 17/49 | €305,415 | €224,813 | -€80,602 | -26.4% |
| Amounts payable after more than one year | 17 | €180,259 | €168,984 | -€11,275 | -6.3% |
| Financial debts | 170/4 | €180,259 | €168,984 | -€11,275 | -6.3% |
| Amounts payable within one year | 42/48 | €125,156 | €55,829 | -€69,327 | -55.4% |
| Current portion of amounts payable after more than one year | 42 | €11,106 | €11,275 | +€169 | +1.5% |
| Financial debts | 43 | €15,551 | - | -€15,551 | |
| Credit institutions | 430/8 | €15,551 | - | -€15,551 | |
| Trade debts | 44 | €97,841 | €39,626 | -€58,215 | -59.5% |
| Suppliers | 440/4 | €97,841 | €39,626 | -€58,215 | -59.5% |
| Taxes, remuneration and social security | 45 | €658 | €4,500 | +€3,842 | +584.0% |
| Taxes | 450/3 | €658 | €1,200 | +€542 | +82.4% |
| Remuneration and social security | 454/9 | - | €3,300 | +€3,300 | |
| Other amounts payable | 47/48 | - | €428 | +€428 | |
| Remuneration, social security and pensions | 62 | €398 | €193 | -€205 | -51.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,092 | €6,150 | +€57 | +0.9% |
| Other operating charges | 640/8 | €17,373 | €2,220 | -€15,153 | -87.2% |
| Gross operating margin | 9900 | €56,017 | €45,063 | -€10,954 | -19.6% |
| Operating profit (loss) | 9901 | €32,154 | €36,501 | +€4,347 | +13.5% |
| Financial income | 75/76B | €1,390 | €460 | -€930 | -66.9% |
| Recurring financial income | 75 | €1,390 | €460 | -€930 | -66.9% |
| Financial charges | 65/66B | €20,931 | €7,559 | -€13,372 | -63.9% |
| Recurring financial charges | 65 | €20,931 | €7,559 | -€13,372 | -63.9% |
| Profit (loss) for the period before taxes | 9903 | €12,613 | €29,401 | +€16,788 | +133.1% |
| Income taxes | 67/77 | €4,001 | €7,653 | +€3,652 | +91.3% |
| Profit (loss) for the period | 9904 | €8,612 | €21,748 | +€13,136 | +152.5% |
| Profit (loss) for the period to be appropriated | 9905 | €8,612 | €21,748 | +€13,136 | +152.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.