A.L. Management: 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. Management
Largest movements
- Current investments +€600,000
up €600,000, from €0 to €600,000
- Cash -€440,495
down €440,495 (-41.9%), from €1.1m to €610,739
mainly Current investments (-€600,000) and Debts after one year (-€23,225)
- Tangible fixed assets -€37,669
down €37,669 (-6.1%), from €622,572 to €584,902
of which Land and buildings: -€24,493
- Reserves +€141,689
up €141,689 (+10.1%), from €1.4m to €1.5m
- Debts after one year -€23,225
down €23,225 (-15.1%), from €153,369 to €130,143
- Financial income -€23,096
down €23,096 (-54.4%), from €42,435 to €19,339
- Gross operating margin -€5,408
down €5,408 (-2.2%), from €245,683 to €240,274
- Taxes -€4,700
down €4,700 (-7.0%), from €66,723 to €62,023
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 | €1,832,361 | €1,950,231 | +€117,870 | +6.4% |
| Fixed assets | 21/28 | €741,572 | €703,902 | -€37,669 | -5.1% |
| Tangible fixed assets | 22/27 | €622,572 | €584,902 | -€37,669 | -6.1% |
| Land and buildings | 22 | €608,592 | €584,099 | -€24,493 | -4.0% |
| Plant, machinery and equipment | 23 | €0 | €804 | +€804 | |
| Furniture and vehicles | 24 | €13,980 | €0 | -€13,980 | -100% |
| Financial fixed assets | 28 | €119,000 | €119,000 | = | 0.0% |
| Current assets | 29/58 | €1,090,790 | €1,246,328 | +€155,539 | +14.3% |
| Amounts receivable within one year | 40/41 | €36,417 | €34,037 | -€2,380 | -6.5% |
| Trade receivables | 40 | €36,417 | €30,855 | -€5,562 | -15.3% |
| Other amounts receivable | 41 | - | €3,182 | +€3,182 | |
| Current investments | 50/53 | €0 | €600,000 | +€600,000 | |
| Cash at bank and in hand | 54/58 | €1,051,233 | €610,739 | -€440,495 | -41.9% |
| Deferred charges and accrued income | 490/1 | €3,139 | €1,552 | -€1,587 | -50.6% |
| Total equity and liabilities | 10/49 | €1,832,361 | €1,950,231 | +€117,870 | +6.4% |
| Equity | 10/15 | €1,579,524 | €1,721,213 | +€141,689 | +9.0% |
| Contributions | 10/11 | €171,600 | €171,600 | = | 0.0% |
| Reserves | 13 | €1,407,924 | €1,549,613 | +€141,689 | +10.1% |
| Distributable reserves | 133 | €1,407,924 | €1,549,613 | +€141,689 | +10.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €252,837 | €229,018 | -€23,819 | -9.4% |
| Amounts payable after more than one year | 17 | €153,369 | €130,143 | -€23,225 | -15.1% |
| Financial debts | 170/4 | €153,369 | €130,143 | -€23,225 | -15.1% |
| Amounts payable within one year | 42/48 | €99,201 | €98,874 | -€327 | -0.3% |
| Current portion of amounts payable after more than one year | 42 | €22,095 | €23,225 | +€1,130 | +5.1% |
| Trade debts | 44 | €3,923 | €5,210 | +€1,287 | +32.8% |
| Suppliers | 440/4 | €3,923 | €5,210 | +€1,287 | +32.8% |
| Taxes, remuneration and social security | 45 | €12,503 | €21,100 | +€8,597 | +68.8% |
| Taxes | 450/3 | €12,503 | €21,100 | +€8,597 | +68.8% |
| Other amounts payable | 47/48 | €60,680 | €49,340 | -€11,340 | -18.7% |
| Accrued charges and deferred income | 492/3 | €267 | €0 | -€267 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,513 | €38,875 | -€1,638 | -4.0% |
| Other operating charges | 640/8 | €4,280 | €4,029 | -€251 | -5.9% |
| Gross operating margin | 9900 | €245,683 | €240,274 | -€5,408 | -2.2% |
| Operating profit (loss) | 9901 | €200,890 | €197,371 | -€3,519 | -1.8% |
| Financial income | 75/76B | €42,435 | €19,339 | -€23,096 | -54.4% |
| Recurring financial income | 75 | €42,435 | €19,339 | -€23,096 | -54.4% |
| Financial charges | 65/66B | €14,527 | €12,165 | -€2,362 | -16.3% |
| Recurring financial charges | 65 | €14,527 | €12,165 | -€2,362 | -16.3% |
| Profit (loss) for the period before taxes | 9903 | €228,798 | €204,545 | -€24,253 | -10.6% |
| Income taxes | 67/77 | €66,723 | €62,023 | -€4,700 | -7.0% |
| Profit (loss) for the period | 9904 | €162,075 | €142,522 | -€19,553 | -12.1% |
| Profit (loss) for the period to be appropriated | 9905 | €162,075 | €142,522 | -€19,553 | -12.1% |
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 20 October 2026 via checked.be.