A.L.: 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.
A.L.
Largest movements
- Tangible fixed assets -€14,356
down €14,356 (-4.3%), from €330,235 to €315,879
- Debts after one year -€171,896
down €171,896 (-25.6%), from €671,440 to €499,545
- Profit (loss) carried forward +€171,111
up €171,111 (+63.2%), from €270,869 to €441,980
- Tax, wage and social debts -€17,647
no longer reported in 2025 (was €17,647)
- Financial income -€100,000
down €100,000 (-40.0%), from €250,000 to €150,000
- Gross operating margin +€54,170
up €54,170 (+2330.8%), from €2,324 to €56,494
- Financial charges +€7,880
up €7,880 (+89.6%), from €8,797 to €16,677
- Depreciation +€6,805
up €6,805 (+68.1%), from €9,988 to €16,793
- Other operating charges +€682
up €682 (+55.5%), from €1,230 to €1,913
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 | €1,342,373 | €1,329,231 | -€13,143 | -1.0% |
| Formation expenses | 20 | €4,066 | €1,628 | -€2,438 | -59.9% |
| Fixed assets | 21/28 | €1,330,235 | €1,315,879 | -€14,356 | -1.1% |
| Tangible fixed assets | 22/27 | €330,235 | €315,879 | -€14,356 | -4.3% |
| Land and buildings | 22 | €330,235 | €315,879 | -€14,356 | -4.3% |
| Financial fixed assets | 28 | €1,000,000 | €1,000,000 | = | 0.0% |
| Current assets | 29/58 | €8,073 | €11,723 | +€3,651 | +45.2% |
| Cash at bank and in hand | 54/58 | €7,896 | €11,723 | +€3,827 | +48.5% |
| Deferred charges and accrued income | 490/1 | €177 | - | -€177 | |
| Total equity and liabilities | 10/49 | €1,342,373 | €1,329,231 | -€13,143 | -1.0% |
| Equity | 10/15 | €290,869 | €461,980 | +€171,111 | +58.8% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €270,869 | €441,980 | +€171,111 | +63.2% |
| Amounts payable | 17/49 | €1,051,505 | €867,251 | -€184,254 | -17.5% |
| Amounts payable after more than one year | 17 | €671,440 | €499,545 | -€171,896 | -25.6% |
| Financial debts | 170/4 | €671,440 | €499,545 | -€171,896 | -25.6% |
| Amounts payable within one year | 42/48 | €379,710 | €364,433 | -€15,277 | -4.0% |
| Current portion of amounts payable after more than one year | 42 | €169,526 | €171,896 | +€2,370 | +1.4% |
| Taxes, remuneration and social security | 45 | €17,647 | - | -€17,647 | |
| Taxes | 450/3 | €17,647 | - | -€17,647 | |
| Other amounts payable | 47/48 | €192,537 | €192,537 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €355 | €3,273 | +€2,918 | +822.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,988 | €16,793 | +€6,805 | +68.1% |
| Other operating charges | 640/8 | €1,230 | €1,913 | +€682 | +55.5% |
| Gross operating margin | 9900 | €2,324 | €56,494 | +€54,170 | +2330.8% |
| Operating profit (loss) | 9901 | -€8,894 | €37,788 | +€46,682 | |
| Financial income | 75/76B | €250,000 | €150,000 | -€100,000 | -40.0% |
| Recurring financial income | 75 | €250,000 | €150,000 | -€100,000 | -40.0% |
| Financial charges | 65/66B | €8,797 | €16,677 | +€7,880 | +89.6% |
| Recurring financial charges | 65 | €8,797 | €16,677 | +€7,880 | +89.6% |
| Profit (loss) for the period before taxes | 9903 | €232,309 | €171,111 | -€61,197 | -26.3% |
| Profit (loss) for the period | 9904 | €232,309 | €171,111 | -€61,197 | -26.3% |
| Profit (loss) for the period to be appropriated | 9905 | €232,309 | €171,111 | -€61,197 | -26.3% |
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 5 October 2026 via checked.be.