AL: 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.
AL
Largest movements
- Tangible fixed assets +€479,851
up €479,851 (+18.8%), from €2.6m to €3.0m
- Revaluation surpluses +€556,724
new in 2025: €556,724
- Debts after one year -€80,093
down €80,093 (-5.2%), from €1.6m to €1.5m
of which Financial debts: -€80,093
- Other debts +€31,886
up €31,886 (+4.6%), from €698,168 to €730,054
- Profit (loss) carried forward -€30,497
down €30,497 (-75.6%), from -€40,330 to -€70,827
- Other operating charges +€28,126
up €28,126 (+2907.0%), from €968 to €29,093
- Financial charges -€1,687
down €1,687 (-4.0%), from €42,160 to €40,472
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 | €2,551,360 | €3,031,149 | +€479,789 | +18.8% |
| Fixed assets | 21/28 | €2,550,960 | €3,030,812 | +€479,851 | +18.8% |
| Tangible fixed assets | 22/27 | €2,550,960 | €3,030,812 | +€479,851 | +18.8% |
| Land and buildings | 22 | €2,550,960 | €3,030,812 | +€479,851 | +18.8% |
| Current assets | 29/58 | €400 | €337 | -€62 | -15.6% |
| Cash at bank and in hand | 54/58 | €400 | €337 | -€62 | -15.6% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €2,551,360 | €3,031,149 | +€479,789 | +18.8% |
| Equity | 10/15 | €28,027 | €554,254 | +€526,227 | +1877.6% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Revaluation surpluses | 12 | - | €556,724 | +€556,724 | |
| Reserves | 13 | €6,857 | €6,857 | = | 0.0% |
| Distributable reserves | 133 | €6,857 | €6,857 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€40,330 | -€70,827 | -€30,497 | -75.6% |
| Amounts payable | 17/49 | €2,523,334 | €2,476,895 | -€46,438 | -1.8% |
| Amounts payable after more than one year | 17 | €1,555,202 | €1,475,109 | -€80,093 | -5.2% |
| Financial debts | 170/4 | €1,493,702 | €1,413,609 | -€80,093 | -5.4% |
| Other amounts payable | 178/9 | €61,500 | €61,500 | = | 0.0% |
| Amounts payable within one year | 42/48 | €968,131 | €1,001,357 | +€33,226 | +3.4% |
| Current portion of amounts payable after more than one year | 42 | €78,753 | €80,093 | +€1,340 | +1.7% |
| Financial debts | 43 | €190,000 | €190,000 | = | 0.0% |
| Credit institutions | 430/8 | €190,000 | €190,000 | = | 0.0% |
| Trade debts | 44 | €1,210 | €1,210 | = | 0.0% |
| Suppliers | 440/4 | €1,210 | €1,210 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Other amounts payable | 47/48 | €698,168 | €730,054 | +€31,886 | +4.6% |
| Accrued charges and deferred income | 492/3 | €0 | €429 | +€429 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €76,873 | €76,873 | = | 0.0% |
| Other operating charges | 640/8 | €968 | €29,093 | +€28,126 | +2907.0% |
| Gross operating margin | 9900 | €116,114 | €115,941 | -€172 | -0.1% |
| Operating profit (loss) | 9901 | €38,274 | €9,976 | -€28,298 | -73.9% |
| Financial charges | 65/66B | €42,160 | €40,472 | -€1,687 | -4.0% |
| Recurring financial charges | 65 | €42,160 | €40,472 | -€1,687 | -4.0% |
| Profit (loss) for the period before taxes | 9903 | -€3,886 | -€30,497 | -€26,611 | -684.8% |
| Profit (loss) for the period | 9904 | -€3,886 | -€30,497 | -€26,611 | -684.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€3,886 | -€30,497 | -€26,611 | -684.8% |
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 6 October 2026 via checked.be.