A.L.C.O.: 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.
A.L.C.O.
Largest movements
- Receivables within one year -€6,356
down €6,356 (-99.0%), from €6,420 to €63
of which Trade receivables: -€6,420
- Stocks and contracts +€1,751
up €1,751 (+21.6%), from €8,125 to €9,876
- Cash +€346
up €346 (+47.9%), from €722 to €1,067
mainly Receivables within one year (+€6,356) and Tax, wage and social debts (+€1,852)
- Deferred charges and accrued income +€158
new in 2025: €158
- Profit (loss) carried forward -€3,239
down €3,239 (-3.0%), from -€106,349 to -€109,588
- Trade debts -€2,715
down €2,715 (-45.4%), from €5,974 to €3,259
- Tax, wage and social debts +€1,852
up €1,852 (+38,819%), from €5 to €1,856
- Gross operating margin -€11,688
down €11,688, from €9,956 to -€1,732
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 | €15,267 | €11,165 | -€4,102 | -26.9% |
| Current assets | 29/58 | €15,267 | €11,165 | -€4,102 | -26.9% |
| Stocks and contracts in progress | 3 | €8,125 | €9,876 | +€1,751 | +21.6% |
| Stocks | 30/36 | €8,125 | €9,876 | +€1,751 | +21.6% |
| Amounts receivable within one year | 40/41 | €6,420 | €63 | -€6,356 | -99.0% |
| Trade receivables | 40 | €6,420 | €0 | -€6,420 | -100% |
| Other amounts receivable | 41 | €0 | €63 | +€63 | |
| Cash at bank and in hand | 54/58 | €722 | €1,067 | +€346 | +47.9% |
| Deferred charges and accrued income | 490/1 | - | €158 | +€158 | |
| Total equity and liabilities | 10/49 | €15,267 | €11,165 | -€4,102 | -26.9% |
| Equity | 10/15 | -€11,806 | -€15,045 | -€3,239 | -27.4% |
| Contributions | 10/11 | €30,987 | €30,987 | = | 0.0% |
| Capital | 10 | €30,987 | €30,987 | = | 0.0% |
| Issued capital | 100 | €30,987 | €61,500 | +€30,513 | +98.5% |
| Uncalled capital | 101 | - | €30,513 | +€30,513 | |
| Reserves | 13 | €63,556 | €63,556 | = | 0.0% |
| Non-distributable reserves | 130/1 | €3,099 | €3,099 | = | 0.0% |
| Legal reserve | 130 | €3,099 | €3,099 | = | 0.0% |
| Distributable reserves | 133 | €60,458 | €60,458 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€106,349 | -€109,588 | -€3,239 | -3.0% |
| Amounts payable | 17/49 | €27,073 | €26,209 | -€863 | -3.2% |
| Amounts payable within one year | 42/48 | €27,073 | €26,209 | -€863 | -3.2% |
| Trade debts | 44 | €5,974 | €3,259 | -€2,715 | -45.4% |
| Suppliers | 440/4 | €5,974 | €3,259 | -€2,715 | -45.4% |
| Taxes, remuneration and social security | 45 | €5 | €1,856 | +€1,852 | +38,819% |
| Taxes | 450/3 | €5 | €1,856 | +€1,852 | +38,819% |
| Other amounts payable | 47/48 | €21,094 | €21,094 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €0 | - | = | |
| Other operating charges | 640/8 | €1,478 | €1,417 | -€61 | -4.1% |
| Gross operating margin | 9900 | €9,956 | -€1,732 | -€11,688 | |
| Operating profit (loss) | 9901 | €8,478 | -€3,149 | -€11,627 | |
| Financial income | 75/76B | €0 | €1 | +€1 | |
| Recurring financial income | 75 | €0 | €1 | +€1 | |
| Financial charges | 65/66B | €37 | €91 | +€53 | +143% |
| Recurring financial charges | 65 | €37 | €91 | +€53 | +143% |
| Profit (loss) for the period before taxes | 9903 | €8,441 | -€3,239 | -€11,680 | |
| Profit (loss) for the period | 9904 | €8,441 | -€3,239 | -€11,680 | |
| Profit (loss) for the period to be appropriated | 9905 | €8,441 | -€3,239 | -€11,680 |
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 19 October 2026 via checked.be.