A'LEX: 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'LEX
Largest movements
- Cash +€309,836
up €309,836 (+345%), from €89,808 to €399,644
mainly Other debts (+€291,812) and Net result for the year (+€280,955)
- Current investments -€76,265
no longer reported in 2025 (was €76,265)
- Tangible fixed assets -€15,599
down €15,599 (-37.5%), from €41,644 to €26,045
- Other debts +€291,812
up €291,812 (+197%), from €147,877 to €439,689
- Reserves -€115,682
no longer reported in 2025 (was €115,682)
- Tax, wage and social debts +€31,496
up €31,496 (+81.1%), from €38,814 to €70,310
- Accrued charges and deferred income +€6,759
new in 2025: €6,759
- Gross operating margin +€239,024
up €239,024 (+129%), from €185,345 to €424,369
- Taxes +€57,337
up €57,337 (+171%), from €33,554 to €90,890
- Financial charges +€18,029
up €18,029 (+70.3%), from €25,642 to €43,671
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 | €303,559 | €519,758 | +€216,199 | +71.2% |
| Fixed assets | 21/28 | €41,644 | €26,045 | -€15,599 | -37.5% |
| Tangible fixed assets | 22/27 | €41,644 | €26,045 | -€15,599 | -37.5% |
| Furniture and vehicles | 24 | €41,644 | €26,045 | -€15,599 | -37.5% |
| Current assets | 29/58 | €261,915 | €493,713 | +€231,798 | +88.5% |
| Amounts receivable after more than one year | 29 | €92,074 | €92,074 | = | 0.0% |
| Other amounts receivable | 291 | €92,074 | €92,074 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €0 | - | = | |
| Trade receivables | 40 | €0 | - | = | |
| Current investments | 50/53 | €76,265 | - | -€76,265 | |
| Cash at bank and in hand | 54/58 | €89,808 | €399,644 | +€309,836 | +345% |
| Deferred charges and accrued income | 490/1 | €3,768 | €1,994 | -€1,774 | -47.1% |
| Total equity and liabilities | 10/49 | €303,559 | €519,758 | +€216,199 | +71.2% |
| Equity | 10/15 | €116,682 | €1,000 | -€115,682 | -99.1% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €115,682 | - | -€115,682 | |
| Distributable reserves | 133 | €115,682 | - | -€115,682 | |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €186,878 | €518,758 | +€331,880 | +178% |
| Amounts payable within one year | 42/48 | €186,878 | €511,999 | +€325,122 | +174% |
| Trade debts | 44 | €186 | €2,000 | +€1,814 | +975% |
| Suppliers | 440/4 | €186 | €2,000 | +€1,814 | +975% |
| Taxes, remuneration and social security | 45 | €38,814 | €70,310 | +€31,496 | +81.1% |
| Taxes | 450/3 | €38,814 | €70,310 | +€31,496 | +81.1% |
| Other amounts payable | 47/48 | €147,877 | €439,689 | +€291,812 | +197% |
| Accrued charges and deferred income | 492/3 | - | €6,759 | +€6,759 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,767 | €15,599 | -€169 | -1.1% |
| Other operating charges | 640/8 | €302 | €749 | +€447 | +148% |
| Gross operating margin | 9900 | €185,345 | €424,369 | +€239,024 | +129% |
| Operating profit (loss) | 9901 | €169,277 | €408,022 | +€238,745 | +141% |
| Financial income | 75/76B | €5,601 | €7,495 | +€1,895 | +33.8% |
| Recurring financial income | 75 | €5,601 | €7,495 | +€1,895 | +33.8% |
| Financial charges | 65/66B | €25,642 | €43,671 | +€18,029 | +70.3% |
| Recurring financial charges | 65 | €25,642 | €43,671 | +€18,029 | +70.3% |
| Profit (loss) for the period before taxes | 9903 | €149,235 | €371,846 | +€222,611 | +149% |
| Income taxes | 67/77 | €33,554 | €90,890 | +€57,337 | +171% |
| Profit (loss) for the period | 9904 | €115,682 | €280,955 | +€165,274 | +143% |
| Profit (loss) for the period to be appropriated | 9905 | €115,682 | €280,955 | +€165,274 | +143% |
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 17 October 2026 via checked.be.