AL RETAIL: 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 RETAIL
Largest movements
- Cash -€297,971
down €297,971 (-34.3%), from €867,786 to €569,815
mainly Short-term financial debts (-€337,500) and Tax, wage and social debts (-€274,179)
- Receivables within one year -€209,496
down €209,496 (-45.7%), from €458,565 to €249,068
of which Trade receivables: -€232,902
- Intangible fixed assets -€200,000
down €200,000 (-11.3%), from €1.8m to €1.6m
- Stocks and contracts +€111,015
up €111,015 (+15.9%), from €696,369 to €807,384
- Tangible fixed assets +€46,479
up €46,479 (+1100.6%), from €4,223 to €50,702
- Short-term financial debts -€337,500
down €337,500 (-57.1%), from €590,625 to €253,125
- Tax, wage and social debts -€274,179
down €274,179 (-43.5%), from €630,757 to €356,578
of which Remuneration and social security: -€243,028
- Profit (loss) carried forward +€207,551
up €207,551 (+13.4%), from -€1.5m to -€1.3m
- Debts after one year -€194,155
down €194,155 (-14.9%), from €1.3m to €1.1m
- Trade debts +€181,313
up €181,313 (+9.1%), from €2.0m to €2.2m
- Staff costs -€2.0m
down €2.0m (-40.5%), from €5.0m to €3.0m
- Gross operating margin -€343,157
down €343,157 (-8.7%), from €3.9m to €3.6m
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 | €3,814,380 | €3,255,749 | -€558,630 | -14.6% |
| Fixed assets | 21/28 | €1,772,206 | €1,618,685 | -€153,521 | -8.7% |
| Intangible fixed assets | 21 | €1,767,983 | €1,567,983 | -€200,000 | -11.3% |
| Tangible fixed assets | 22/27 | €4,223 | €50,702 | +€46,479 | +1100.6% |
| Plant, machinery and equipment | 23 | €4,223 | €50,702 | +€46,479 | +1100.6% |
| Current assets | 29/58 | €2,042,173 | €1,637,064 | -€405,109 | -19.8% |
| Stocks and contracts in progress | 3 | €696,369 | €807,384 | +€111,015 | +15.9% |
| Stocks | 30/36 | €696,369 | €807,384 | +€111,015 | +15.9% |
| Amounts receivable within one year | 40/41 | €458,565 | €249,068 | -€209,496 | -45.7% |
| Trade receivables | 40 | €428,227 | €195,325 | -€232,902 | -54.4% |
| Other amounts receivable | 41 | €30,338 | €53,743 | +€23,405 | +77.1% |
| Cash at bank and in hand | 54/58 | €867,786 | €569,815 | -€297,971 | -34.3% |
| Deferred charges and accrued income | 490/1 | €19,454 | €10,797 | -€8,657 | -44.5% |
| Total equity and liabilities | 10/49 | €3,814,380 | €3,255,749 | -€558,630 | -14.6% |
| Equity | 10/15 | -€1,045,889 | -€838,337 | +€207,551 | +19.8% |
| Contributions | 10/11 | €500,000 | €500,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,545,889 | -€1,338,337 | +€207,551 | +13.4% |
| Amounts payable | 17/49 | €4,860,268 | €4,094,087 | -€766,182 | -15.8% |
| Amounts payable after more than one year | 17 | €1,300,123 | €1,105,968 | -€194,155 | -14.9% |
| Financial debts | 170/4 | €1,300,123 | €1,105,968 | -€194,155 | -14.9% |
| Amounts payable within one year | 42/48 | €3,408,749 | €2,987,778 | -€420,971 | -12.3% |
| Current portion of amounts payable after more than one year | 42 | €184,876 | €194,155 | +€9,279 | +5.0% |
| Financial debts | 43 | €590,625 | €253,125 | -€337,500 | -57.1% |
| Credit institutions | 430/8 | €590,625 | €253,125 | -€337,500 | -57.1% |
| Trade debts | 44 | €2,002,308 | €2,183,622 | +€181,313 | +9.1% |
| Suppliers | 440/4 | €2,002,308 | €2,183,622 | +€181,313 | +9.1% |
| Taxes, remuneration and social security | 45 | €630,757 | €356,578 | -€274,179 | -43.5% |
| Taxes | 450/3 | €54,643 | €23,492 | -€31,151 | -57.0% |
| Remuneration and social security | 454/9 | €576,115 | €333,086 | -€243,028 | -42.2% |
| Other amounts payable | 47/48 | €183 | €299 | +€116 | +63.5% |
| Accrued charges and deferred income | 492/3 | €151,397 | €340 | -€151,056 | -99.8% |
| Non-recurring operating income | 76A | €771 | €0 | -€771 | -100.0% |
| Remuneration, social security and pensions | 62 | €5,047,094 | €3,003,215 | -€2.0m | -40.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €233,238 | €202,878 | -€30,360 | -13.0% |
| Other operating charges | 640/8 | €81,960 | €95,010 | +€13,050 | +15.9% |
| Non-recurring operating charges | 66A | €100 | €0 | -€100 | -100.0% |
| Gross operating margin | 9900 | €3,940,639 | €3,597,482 | -€343,157 | -8.7% |
| Operating profit (loss) | 9901 | -€1,421,752 | €296,380 | +€1.7m | |
| Financial income | 75/76B | €1 | €1,895 | +€1,894 | +236763.8% |
| Recurring financial income | 75 | €1 | €1,895 | +€1,894 | +236763.8% |
| Financial charges | 65/66B | €123,887 | €90,346 | -€33,541 | -27.1% |
| Recurring financial charges | 65 | €123,887 | €90,346 | -€33,541 | -27.1% |
| Profit (loss) for the period before taxes | 9903 | -€1,545,638 | €207,929 | +€1.8m | |
| Income taxes | 67/77 | €251 | €377 | +€126 | +50.4% |
| Profit (loss) for the period | 9904 | -€1,545,889 | €207,551 | +€1.8m | |
| Profit (loss) for the period to be appropriated | 9905 | -€1,545,889 | €207,551 | +€1.8m |
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 7 October 2026 via checked.be.