Al'ard: 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.
Al'ard
Largest movements
- Stocks and contracts -€415,503
down €415,503 (-30.4%), from €1.4m to €950,156
- Receivables within one year +€58,583
up €58,583 (+359.6%), from €16,292 to €74,875
of which Other amounts receivable: +€61,135
- Deferred charges and accrued income +€37,692
up €37,692 (+52.0%), from €72,539 to €110,232
- Current portion of long-term debt -€335,000
down €335,000 (-39.3%), from €852,000 to €517,000
- Other debts +€44,129
up €44,129 (+29.1%), from €151,594 to €195,722
- Gross operating margin -€11,035
down €11,035, from €5,803 to -€5,232
- Other operating charges +€358
up €358 (+8.2%), from €4,351 to €4,709
- Financial charges +€195
up €195 (+16.0%), from €1,220 to €1,416
- Taxes -€63
down €63 (-100.0%), from €63 to €0
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 | €1,454,990 | €1,137,980 | -€317,010 | -21.8% |
| Fixed assets | 21/28 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €0 | - | = | |
| Land and buildings | 22 | €0 | - | = | |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €1,454,990 | €1,137,980 | -€317,010 | -21.8% |
| Stocks and contracts in progress | 3 | €1,365,659 | €950,156 | -€415,503 | -30.4% |
| Contracts in progress | 37 | €1,365,659 | €950,156 | -€415,503 | -30.4% |
| Amounts receivable within one year | 40/41 | €16,292 | €74,875 | +€58,583 | +359.6% |
| Trade receivables | 40 | €14,809 | €12,256 | -€2,552 | -17.2% |
| Other amounts receivable | 41 | €1,484 | €62,619 | +€61,135 | +4120.1% |
| Cash at bank and in hand | 54/58 | €500 | €2,717 | +€2,218 | +443.6% |
| Deferred charges and accrued income | 490/1 | €72,539 | €110,232 | +€37,692 | +52.0% |
| Total equity and liabilities | 10/49 | €1,454,990 | €1,137,980 | -€317,010 | -21.8% |
| Equity | 10/15 | €433,009 | €421,652 | -€11,357 | -2.6% |
| Contributions | 10/11 | €245,000 | €245,000 | = | 0.0% |
| Reserves | 13 | €188,009 | €176,652 | -€11,357 | -6.0% |
| Tax-exempt reserves | 132 | €45,000 | €45,000 | = | 0.0% |
| Distributable reserves | 133 | €143,009 | €131,652 | -€11,357 | -7.9% |
| Provisions and deferred taxes | 16 | €0 | - | = | |
| Deferred taxes | 168 | €0 | - | = | |
| Amounts payable | 17/49 | €1,021,981 | €716,328 | -€305,653 | -29.9% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €1,021,981 | €716,328 | -€305,653 | -29.9% |
| Current portion of amounts payable after more than one year | 42 | €852,000 | €517,000 | -€335,000 | -39.3% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €11,627 | €3,241 | -€8,386 | -72.1% |
| Suppliers | 440/4 | €11,627 | €3,241 | -€8,386 | -72.1% |
| Taxes, remuneration and social security | 45 | €6,761 | €365 | -€6,396 | -94.6% |
| Taxes | 450/3 | €6,761 | €365 | -€6,396 | -94.6% |
| Other amounts payable | 47/48 | €151,594 | €195,722 | +€44,129 | +29.1% |
| Other operating charges | 640/8 | €4,351 | €4,709 | +€358 | +8.2% |
| Gross operating margin | 9900 | €5,803 | -€5,232 | -€11,035 | |
| Operating profit (loss) | 9901 | €1,451 | -€9,942 | -€11,393 | |
| Financial charges | 65/66B | €1,220 | €1,416 | +€195 | +16.0% |
| Recurring financial charges | 65 | €1,220 | €1,416 | +€195 | +16.0% |
| Profit (loss) for the period before taxes | 9903 | €231 | -€11,357 | -€11,588 | |
| Transfer to deferred taxes | 680 | €0 | - | = | |
| Income taxes | 67/77 | €63 | €0 | -€63 | -100.0% |
| Profit (loss) for the period | 9904 | €168 | -€11,357 | -€11,525 | |
| Transfer to tax-exempt reserves | 689 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €168 | -€11,357 | -€11,525 |
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 10 October 2026 via checked.be.