A.L.N.: 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.
What changed
A.L.N.
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€84,712
2024 · €168,909-€253,622
Equity
€156,385
2024 · €241,097-€84,712
Cash
€46,931
2024 · €54,385-€7,454
Balance sheet total
€2.4m
2024 · €3.0m-€596,147
Largest movements
Assets
- Current investments -€550,000
down €550,000 (-100%), from €550,000 to €0
Equity and liabilities
- Other debts -€463,002
down €463,002 (-66.9%), from €691,963 to €228,960
- Profit (loss) carried forward -€78,698
down €78,698 (-18.8%), from -€418,085 to -€496,782
- Accrued charges and deferred income -€47,404
down €47,404 (-90.8%), from €52,209 to €4,804
Income statement
- Gross operating margin -€251,186
down €251,186 (-67.9%), from €370,169 to €118,983
- Financial charges -€12,726
down €12,726 (-11.9%), from €107,281 to €94,555
- Depreciation +€7,023
up €7,023 (+7.1%), from €98,840 to €105,863
- Financial income -€5,741
down €5,741 (-37.7%), from €15,223 to €9,482
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.
Result 2024
€168,909
Gross operating margin
-€251,186
Depreciation
-€7,023
Other operating charges
-€2,397
Financial income
-€5,741
Financial charges
+€12,726
Result 2025
-€84,712
raises the resultlowers the result
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.
From operations
-€451,907
Investment
+€460,250
Financing
-€15,798
Cash 2024
€54,385
From operations (derived)
-€451,907
Net result for the year
-€84,712
Depreciation
+€105,863
Receivables within one year
+€22,155
Deferred charges and accrued income
+€425
Provisions
-€3,097
Trade debts
+€4,689
Tax, wage and social debts
+€13,177
Other debts
-€463,002
Accrued charges and deferred income
-€47,404
Investment (derived)
+€460,250
Investment in fixed assets (net)
-€89,750
Current investments
+€550,000
Financing
-€15,798
Debts after one year
-€16,240
Current portion of long-term debt
+€442
Cash 2025
€46,931
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,002,935 | €2,406,788 | -€596,147 | -19.9% |
| Fixed assets | 21/28 | €2,367,784 | €2,351,671 | -€16,113 | -0.7% |
| Tangible fixed assets | 22/27 | €2,366,284 | €2,350,171 | -€16,113 | -0.7% |
| Land and buildings | 22 | €2,363,082 | €2,348,872 | -€14,210 | -0.6% |
| Plant, machinery and equipment | 23 | €3,202 | €1,299 | -€1,903 | -59.4% |
| Financial fixed assets | 28 | €1,500 | €1,500 | = | 0.0% |
| Current assets | 29/58 | €635,152 | €55,117 | -€580,035 | -91.3% |
| Amounts receivable within one year | 40/41 | €29,567 | €7,412 | -€22,155 | -74.9% |
| Other amounts receivable | 41 | €29,567 | €7,412 | -€22,155 | -74.9% |
| Current investments | 50/53 | €550,000 | €0 | -€550,000 | -100% |
| Cash at bank and in hand | 54/58 | €54,385 | €46,931 | -€7,454 | -13.7% |
| Deferred charges and accrued income | 490/1 | €1,200 | €775 | -€425 | -35.4% |
| Total equity and liabilities | 10/49 | €3,002,935 | €2,406,788 | -€596,147 | -19.9% |
| Equity | 10/15 | €241,097 | €156,385 | -€84,712 | -35.1% |
| Contributions | 10/11 | €582,550 | €582,550 | = | 0.0% |
| Capital | 10 | €582,550 | €582,550 | = | 0.0% |
| Issued capital | 100 | €582,550 | €582,550 | = | 0.0% |
| Reserves | 13 | €76,632 | €70,618 | -€6,015 | -7.8% |
| Non-distributable reserves | 130/1 | €6,766 | €6,766 | = | 0.0% |
| Legal reserve | 130 | €6,766 | €6,766 | = | 0.0% |
| Tax-exempt reserves | 132 | €69,867 | €63,852 | -€6,015 | -8.6% |
| Profit (loss) carried forward | 14 | -€418,085 | -€496,782 | -€78,698 | -18.8% |
| Provisions and deferred taxes | 16 | €35,976 | €32,879 | -€3,097 | -8.6% |
| Deferred taxes | 168 | €35,976 | €32,879 | -€3,097 | -8.6% |
| Amounts payable | 17/49 | €2,725,862 | €2,217,524 | -€508,338 | -18.6% |
| Amounts payable after more than one year | 17 | €1,962,556 | €1,946,316 | -€16,240 | -0.8% |
| Financial debts | 170/4 | €1,962,556 | €1,946,316 | -€16,240 | -0.8% |
| Amounts payable within one year | 42/48 | €711,098 | €266,404 | -€444,693 | -62.5% |
| Current portion of amounts payable after more than one year | 42 | €15,798 | €16,240 | +€442 | +2.8% |
| Trade debts | 44 | €831 | €5,520 | +€4,689 | +564% |
| Suppliers | 440/4 | €831 | €5,520 | +€4,689 | +564% |
| Taxes, remuneration and social security | 45 | €2,506 | €15,684 | +€13,177 | +526% |
| Taxes | 450/3 | €2,506 | €15,684 | +€13,177 | +526% |
| Other amounts payable | 47/48 | €691,963 | €228,960 | -€463,002 | -66.9% |
| Accrued charges and deferred income | 492/3 | €52,209 | €4,804 | -€47,404 | -90.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €98,840 | €105,863 | +€7,023 | +7.1% |
| Other operating charges | 640/8 | €13,460 | €15,857 | +€2,397 | +17.8% |
| Gross operating margin | 9900 | €370,169 | €118,983 | -€251,186 | -67.9% |
| Operating profit (loss) | 9901 | €257,870 | -€2,737 | -€260,607 | |
| Financial income | 75/76B | €15,223 | €9,482 | -€5,741 | -37.7% |
| Recurring financial income | 75 | €15,223 | €9,482 | -€5,741 | -37.7% |
| Financial charges | 65/66B | €107,281 | €94,555 | -€12,726 | -11.9% |
| Recurring financial charges | 65 | €107,281 | €94,555 | -€12,726 | -11.9% |
| Profit (loss) for the period before taxes | 9903 | €165,812 | -€87,810 | -€253,622 | |
| Transfer from deferred taxes | 780 | €3,097 | €3,097 | = | 0.0% |
| Profit (loss) for the period | 9904 | €168,909 | -€84,712 | -€253,622 | |
| Transfer from tax-exempt reserves | 789 | €6,015 | €6,015 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €174,924 | -€78,698 | -€253,622 |
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 15 October 2026 via checked.be.