A.L.L.: 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.L.
Largest movements
- Tangible fixed assets +€630,539
up €630,539 (+155%), from €406,072 to €1.0m
of which Land and buildings: +€661,190
- Cash +€142,711
up €142,711 (+63.6%), from €224,559 to €367,270
mainly Debts after one year (+€520,763) and Short-term financial debts (+€136,819)
- Stocks and contracts +€33,750
up €33,750 (+76.7%), from €44,029 to €77,779
- Debts after one year +€520,763
up €520,763 (+421%), from €123,625 to €644,388
- Short-term financial debts +€136,819
new in 2025: €136,819
- Other debts +€70,014
up €70,014 (+22,954%), from €305 to €70,319
- Current portion of long-term debt +€40,868
up €40,868 (+124%), from €32,915 to €73,782
- Reserves +€20,000
up €20,000 (+3.4%), from €590,252 to €610,252
of which Distributable reserves: +€20,000
- Gross operating margin +€77,906
up €77,906 (+28.0%), from €277,800 to €355,706
- Depreciation +€14,027
up €14,027 (+40.8%), from €34,342 to €48,369
- Financial charges +€11,785
up €11,785 (+135%), from €8,727 to €20,512
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 | €784,953 | €1,583,586 | +€798,633 | +102% |
| Fixed assets | 21/28 | €406,072 | €1,036,611 | +€630,539 | +155% |
| Tangible fixed assets | 22/27 | €406,072 | €1,036,611 | +€630,539 | +155% |
| Land and buildings | 22 | €250,590 | €911,780 | +€661,190 | +264% |
| Plant, machinery and equipment | 23 | €9,547 | €7,951 | -€1,596 | -16.7% |
| Furniture and vehicles | 24 | €145,935 | €116,879 | -€29,056 | -19.9% |
| Current assets | 29/58 | €378,881 | €546,975 | +€168,094 | +44.4% |
| Stocks and contracts in progress | 3 | €44,029 | €77,779 | +€33,750 | +76.7% |
| Stocks | 30/36 | €44,029 | €77,779 | +€33,750 | +76.7% |
| Amounts receivable within one year | 40/41 | €109,716 | €101,083 | -€8,633 | -7.9% |
| Trade receivables | 40 | €71,730 | €70,514 | -€1,217 | -1.7% |
| Other amounts receivable | 41 | €37,986 | €30,569 | -€7,417 | -19.5% |
| Cash at bank and in hand | 54/58 | €224,559 | €367,270 | +€142,711 | +63.6% |
| Deferred charges and accrued income | 490/1 | €576 | €843 | +€267 | +46.3% |
| Total equity and liabilities | 10/49 | €784,953 | €1,583,586 | +€798,633 | +102% |
| Equity | 10/15 | €608,844 | €632,198 | +€23,354 | +3.8% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €590,252 | €610,252 | +€20,000 | +3.4% |
| Tax-exempt reserves | 132 | €82,757 | €82,757 | = | 0.0% |
| Distributable reserves | 133 | €507,495 | €527,495 | +€20,000 | +3.9% |
| Profit (loss) carried forward | 14 | - | €3,354 | +€3,354 | |
| Amounts payable | 17/49 | €176,108 | €951,388 | +€775,279 | +440% |
| Amounts payable after more than one year | 17 | €123,625 | €644,388 | +€520,763 | +421% |
| Financial debts | 170/4 | €123,625 | €644,388 | +€520,763 | +421% |
| Amounts payable within one year | 42/48 | €52,483 | €306,999 | +€254,516 | +485% |
| Current portion of amounts payable after more than one year | 42 | €32,915 | €73,782 | +€40,868 | +124% |
| Financial debts | 43 | - | €136,819 | +€136,819 | |
| Credit institutions | 430/8 | - | €136,819 | +€136,819 | |
| Trade debts | 44 | €19,171 | €26,039 | +€6,868 | +35.8% |
| Suppliers | 440/4 | €19,171 | €26,039 | +€6,868 | +35.8% |
| Taxes, remuneration and social security | 45 | €92 | €39 | -€52 | -57.2% |
| Taxes | 450/3 | €92 | €39 | -€52 | -57.2% |
| Other amounts payable | 47/48 | €305 | €70,319 | +€70,014 | +22,954% |
| Remuneration, social security and pensions | 62 | €257,755 | €254,812 | -€2,943 | -1.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,342 | €48,369 | +€14,027 | +40.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €202 | - | -€202 | |
| Other operating charges | 640/8 | €7,019 | €7,643 | +€624 | +8.9% |
| Gross operating margin | 9900 | €277,800 | €355,706 | +€77,906 | +28.0% |
| Operating profit (loss) | 9901 | -€21,518 | €44,883 | +€66,401 | |
| Financial income | 75/76B | €366 | €1,290 | +€924 | +253% |
| Recurring financial income | 75 | €366 | €1,290 | +€924 | +253% |
| Financial charges | 65/66B | €8,727 | €20,512 | +€11,785 | +135% |
| Recurring financial charges | 65 | €8,727 | €20,512 | +€11,785 | +135% |
| Profit (loss) for the period before taxes | 9903 | -€29,879 | €25,661 | +€55,540 | |
| Income taxes | 67/77 | €314 | €2,307 | +€1,993 | +634% |
| Profit (loss) for the period | 9904 | -€30,194 | €23,354 | +€53,547 | |
| Profit (loss) for the period to be appropriated | 9905 | -€30,194 | €23,354 | +€53,547 |
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 24 October 2026 via checked.be.