AAVDS: 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.
AAVDS
Largest movements
- Receivables within one year +€53,016
up €53,016 (+17.3%), from €305,947 to €358,963
of which Trade receivables: +€52,817
- Cash -€7,984
down €7,984 (-37.9%), from €21,087 to €13,104
mainly Receivables within one year (-€53,016) and Investment in fixed assets (net) (-€4,808)
- Other debts +€23,174
up €23,174 (+9.3%), from €249,119 to €272,293
- Short-term financial debts +€15,000
up €15,000 (+25.0%), from €60,000 to €75,000
- Trade debts +€14,869
up €14,869 (+516%), from €2,881 to €17,750
- Gross operating margin -€22,125
down €22,125 (-71.5%), from €30,950 to €8,825
- Depreciation +€2,425
up €2,425 (+104%), from €2,333 to €4,758
- Financial charges -€678
down €678 (-11.1%), from €6,086 to €5,409
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 | €384,821 | €434,059 | +€49,238 | +12.8% |
| Fixed assets | 21/28 | €20,808 | €20,859 | +€51 | +0.2% |
| Tangible fixed assets | 22/27 | €9,433 | €9,484 | +€51 | +0.5% |
| Plant, machinery and equipment | 23 | €6,563 | €7,259 | +€696 | +10.6% |
| Furniture and vehicles | 24 | €2,869 | €2,225 | -€645 | -22.5% |
| Financial fixed assets | 28 | €11,375 | €11,375 | = | 0.0% |
| Current assets | 29/58 | €364,013 | €413,201 | +€49,188 | +13.5% |
| Stocks and contracts in progress | 3 | €36,979 | €37,534 | +€555 | +1.5% |
| Stocks | 30/36 | €36,979 | €37,534 | +€555 | +1.5% |
| Amounts receivable within one year | 40/41 | €305,947 | €358,963 | +€53,016 | +17.3% |
| Trade receivables | 40 | €305,698 | €358,515 | +€52,817 | +17.3% |
| Other amounts receivable | 41 | €249 | €448 | +€199 | +80.2% |
| Cash at bank and in hand | 54/58 | €21,087 | €13,104 | -€7,984 | -37.9% |
| Deferred charges and accrued income | 490/1 | - | €3,600 | +€3,600 | |
| Total equity and liabilities | 10/49 | €384,821 | €434,059 | +€49,238 | +12.8% |
| Equity | 10/15 | €62,949 | €60,800 | -€2,149 | -3.4% |
| Contributions | 10/11 | €60,600 | €60,600 | = | 0.0% |
| Reserves | 13 | €2,100 | €0 | -€2,100 | -100% |
| Distributable reserves | 133 | €2,100 | €0 | -€2,100 | -100% |
| Profit (loss) carried forward | 14 | €249 | €200 | -€49 | -19.8% |
| Amounts payable | 17/49 | €321,872 | €373,260 | +€51,388 | +16.0% |
| Amounts payable within one year | 42/48 | €321,872 | €373,260 | +€51,388 | +16.0% |
| Financial debts | 43 | €60,000 | €75,000 | +€15,000 | +25.0% |
| Credit institutions | 430/8 | €60,000 | €75,000 | +€15,000 | +25.0% |
| Trade debts | 44 | €2,881 | €17,750 | +€14,869 | +516% |
| Suppliers | 440/4 | €2,881 | €17,750 | +€14,869 | +516% |
| Taxes, remuneration and social security | 45 | €9,872 | €8,217 | -€1,655 | -16.8% |
| Taxes | 450/3 | €9,872 | €8,217 | -€1,655 | -16.8% |
| Other amounts payable | 47/48 | €249,119 | €272,293 | +€23,174 | +9.3% |
| Remuneration, social security and pensions | 62 | - | €121 | +€121 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,333 | €4,758 | +€2,425 | +104% |
| Other operating charges | 640/8 | €413 | €686 | +€273 | +66.1% |
| Gross operating margin | 9900 | €30,950 | €8,825 | -€22,125 | -71.5% |
| Operating profit (loss) | 9901 | €28,204 | €3,259 | -€24,944 | -88.4% |
| Financial income | 75/76B | €0 | €0 | -€0 | -66.7% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -66.7% |
| Financial charges | 65/66B | €6,086 | €5,409 | -€678 | -11.1% |
| Recurring financial charges | 65 | €6,086 | €5,409 | -€678 | -11.1% |
| Profit (loss) for the period before taxes | 9903 | €22,118 | -€2,149 | -€24,267 | |
| Income taxes | 67/77 | €0 | €0 | -€0 | -66.7% |
| Profit (loss) for the period | 9904 | €22,118 | -€2,149 | -€24,267 | |
| Profit (loss) for the period to be appropriated | 9905 | €22,118 | -€2,149 | -€24,267 |
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 27 October 2026 via checked.be.