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 +€977,822
up €977,822 (+696.2%), from €140,443 to €1.1m
mainly Net result for the year (+€1.3m) and Tax, wage and social debts (+€152,035)
- Current investments +€300,000
up €300,000 (+100.0%), from €300,000 to €600,000
- Receivables within one year -€114,406
down €114,406 (-20.8%), from €550,197 to €435,791
- Reserves +€1.3m
up €1.3m (+228.1%), from €550,000 to €1.8m
- Profit (loss) carried forward -€221,753
down €221,753 (-99.7%), from €222,454 to €701
- Tax, wage and social debts +€152,035
up €152,035 (+67.4%), from €225,698 to €377,733
- Gross operating margin +€1.3m
up €1.3m (+295.1%), from €454,880 to €1.8m
- Taxes +€432,947
up €432,947 (+292.6%), from €147,973 to €580,920
- Financial income +€18,777
up €18,777 (+85.6%), from €21,934 to €40,711
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 | €1,005,278 | €2,189,057 | +€1.2m | +117.8% |
| Fixed assets | 21/28 | €1,438 | €2,489 | +€1,051 | +73.1% |
| Tangible fixed assets | 22/27 | €1,438 | €2,489 | +€1,051 | +73.1% |
| Furniture and vehicles | 24 | €375 | €1,557 | +€1,182 | +315.2% |
| Other tangible fixed assets | 26 | €1,063 | €932 | -€131 | -12.4% |
| Current assets | 29/58 | €1,003,840 | €2,186,569 | +€1.2m | +117.8% |
| Amounts receivable within one year | 40/41 | €550,197 | €435,791 | -€114,406 | -20.8% |
| Other amounts receivable | 41 | €550,197 | €435,791 | -€114,406 | -20.8% |
| Current investments | 50/53 | €300,000 | €600,000 | +€300,000 | +100.0% |
| Cash at bank and in hand | 54/58 | €140,443 | €1,118,265 | +€977,822 | +696.2% |
| Deferred charges and accrued income | 490/1 | €13,200 | €32,512 | +€19,312 | +146.3% |
| Total equity and liabilities | 10/49 | €1,005,278 | €2,189,057 | +€1.2m | +117.8% |
| Equity | 10/15 | €777,454 | €1,810,451 | +€1.0m | +132.9% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €550,000 | €1,804,750 | +€1.3m | +228.1% |
| Distributable reserves | 133 | €550,000 | €1,804,750 | +€1.3m | +228.1% |
| Profit (loss) carried forward | 14 | €222,454 | €701 | -€221,753 | -99.7% |
| Amounts payable | 17/49 | €227,824 | €378,606 | +€150,783 | +66.2% |
| Amounts payable within one year | 42/48 | €227,824 | €378,606 | +€150,783 | +66.2% |
| Trade debts | 44 | €2,125 | €873 | -€1,252 | -58.9% |
| Suppliers | 440/4 | €2,125 | €873 | -€1,252 | -58.9% |
| Taxes, remuneration and social security | 45 | €225,698 | €377,733 | +€152,035 | +67.4% |
| Taxes | 450/3 | €225,698 | €377,733 | +€152,035 | +67.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €569 | €948 | +€379 | +66.7% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | €454,880 | €1,797,156 | +€1.3m | +295.1% |
| Operating profit (loss) | 9901 | €453,924 | €1,795,808 | +€1.3m | +295.6% |
| Financial income | 75/76B | €21,934 | €40,711 | +€18,777 | +85.6% |
| Recurring financial income | 75 | €21,934 | €40,711 | +€18,777 | +85.6% |
| Financial charges | 65/66B | €706 | €603 | -€104 | -14.7% |
| Recurring financial charges | 65 | €706 | €603 | -€104 | -14.7% |
| Profit (loss) for the period before taxes | 9903 | €475,152 | €1,835,916 | +€1.4m | +286.4% |
| Income taxes | 67/77 | €147,973 | €580,920 | +€432,947 | +292.6% |
| Profit (loss) for the period | 9904 | €327,179 | €1,254,997 | +€927,818 | +283.6% |
| Profit (loss) for the period to be appropriated | 9905 | €327,179 | €1,254,997 | +€927,818 | +283.6% |
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 9 October 2026 via checked.be.