A.L.V.: 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.V.
Largest movements
- Cash -€58,048
down €58,048 (-91.4%), from €63,480 to €5,431
mainly Contributions, distributions and other (-€44,400) and Tax, wage and social debts (-€11,388)
- Receivables within one year +€9,735
up €9,735 (+80.6%), from €12,076 to €21,811
of which Trade receivables: +€6,407
- Tangible fixed assets -€2,676
down €2,676 (-10.1%), from €26,516 to €23,840
of which Furniture and vehicles: -€1,989
- Contributions -€34,810
down €34,810 (-97.2%), from €35,810 to €1,000
- Tax, wage and social debts -€11,388
down €11,388 (-69.3%), from €16,421 to €5,034
of which Taxes: -€11,388
- Other debts +€5,298
up €5,298 (+214.8%), from €2,466 to €7,765
- Reserves -€3,789
down €3,789 (-9.2%), from €41,381 to €37,593
- Current portion of long-term debt -€3,778
down €3,778 (-74.9%), from €5,043 to €1,265
- Gross operating margin -€20,328
down €20,328 (-47.7%), from €42,614 to €22,286
- Taxes -€4,683
down €4,683 (-69.7%), from €6,716 to €2,034
- Depreciation +€561
up €561 (+5.6%), from €9,973 to €10,534
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 | €105,114 | €53,201 | -€51,914 | -49.4% |
| Fixed assets | 21/28 | €26,826 | €24,150 | -€2,676 | -10.0% |
| Tangible fixed assets | 22/27 | €26,516 | €23,840 | -€2,676 | -10.1% |
| Land and buildings | 22 | €1,432 | €1,220 | -€212 | -14.8% |
| Plant, machinery and equipment | 23 | €3,545 | €2,471 | -€1,074 | -30.3% |
| Furniture and vehicles | 24 | €9,597 | €7,608 | -€1,989 | -20.7% |
| Other tangible fixed assets | 26 | €11,942 | €12,541 | +€600 | +5.0% |
| Financial fixed assets | 28 | €310 | €310 | = | 0.0% |
| Current assets | 29/58 | €78,288 | €29,051 | -€49,237 | -62.9% |
| Amounts receivable within one year | 40/41 | €12,076 | €21,811 | +€9,735 | +80.6% |
| Trade receivables | 40 | €11,143 | €17,550 | +€6,407 | +57.5% |
| Other amounts receivable | 41 | €933 | €4,261 | +€3,328 | +356.5% |
| Cash at bank and in hand | 54/58 | €63,480 | €5,431 | -€58,048 | -91.4% |
| Deferred charges and accrued income | 490/1 | €2,732 | €1,808 | -€924 | -33.8% |
| Total equity and liabilities | 10/49 | €105,114 | €53,201 | -€51,914 | -49.4% |
| Equity | 10/15 | €77,191 | €38,593 | -€38,599 | -50.0% |
| Contributions | 10/11 | €35,810 | €1,000 | -€34,810 | -97.2% |
| Reserves | 13 | €41,381 | €37,593 | -€3,789 | -9.2% |
| Distributable reserves | 133 | €41,381 | €37,593 | -€3,789 | -9.2% |
| Amounts payable | 17/49 | €27,923 | €14,608 | -€13,315 | -47.7% |
| Amounts payable after more than one year | 17 | €1,265 | - | -€1,265 | |
| Financial debts | 170/4 | €1,265 | - | -€1,265 | |
| Amounts payable within one year | 42/48 | €26,659 | €14,608 | -€12,051 | -45.2% |
| Current portion of amounts payable after more than one year | 42 | €5,043 | €1,265 | -€3,778 | -74.9% |
| Trade debts | 44 | €2,728 | €545 | -€2,183 | -80.0% |
| Suppliers | 440/4 | €2,728 | €545 | -€2,183 | -80.0% |
| Taxes, remuneration and social security | 45 | €16,421 | €5,034 | -€11,388 | -69.3% |
| Taxes | 450/3 | €14,121 | €2,734 | -€11,388 | -80.6% |
| Remuneration and social security | 454/9 | €2,300 | €2,300 | = | 0.0% |
| Other amounts payable | 47/48 | €2,466 | €7,765 | +€5,298 | +214.8% |
| Non-recurring operating income | 76A | - | €1,800 | +€1,800 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,973 | €10,534 | +€561 | +5.6% |
| Other operating charges | 640/8 | €828 | €822 | -€6 | -0.7% |
| Gross operating margin | 9900 | €42,614 | €22,286 | -€20,328 | -47.7% |
| Operating profit (loss) | 9901 | €31,813 | €10,929 | -€20,884 | -65.6% |
| Financial income | 75/76B | €151 | €4 | -€147 | -97.7% |
| Recurring financial income | 75 | €151 | €4 | -€147 | -97.7% |
| Financial charges | 65/66B | €2,957 | €3,098 | +€141 | +4.8% |
| Recurring financial charges | 65 | €2,957 | €3,098 | +€141 | +4.8% |
| Profit (loss) for the period before taxes | 9903 | €29,008 | €7,835 | -€21,173 | -73.0% |
| Income taxes | 67/77 | €6,716 | €2,034 | -€4,683 | -69.7% |
| Profit (loss) for the period | 9904 | €22,291 | €5,801 | -€16,490 | -74.0% |
| Profit (loss) for the period to be appropriated | 9905 | €22,291 | €5,801 | -€16,490 | -74.0% |
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 4 October 2026 via checked.be.