AL35: 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.
AL35
Largest movements
- Cash +€25,894
up €25,894 (+653.0%), from €3,965 to €29,859
mainly Debts after one year (+€114,049) and Net result for the year (+€49,510)
- Receivables within one year -€22,393
no longer reported in 2025 (was €22,393)
of which Other amounts receivable: -€21,350
- Tangible fixed assets -€17,426
down €17,426 (-1.9%), from €937,204 to €919,778
of which Land and buildings: -€14,788
- Other debts -€184,030
down €184,030 (-81.8%), from €225,030 to €41,000
- Debts after one year +€114,049
up €114,049 (+19.1%), from €596,750 to €710,799
- Profit (loss) carried forward +€44,559
up €44,559 (+317.4%), from €14,039 to €58,598
- Current portion of long-term debt +€19,022
up €19,022 (+43.7%), from €43,560 to €62,581
- Tax, wage and social debts -€11,697
down €11,697 (-54.6%), from €21,437 to €9,740
- Gross operating margin -€23,717
down €23,717 (-19.1%), from €124,446 to €100,729
- Taxes -€12,105
down €12,105 (-69.3%), from €17,476 to €5,372
- Other operating charges -€10,330
down €10,330 (-79.4%), from €13,003 to €2,672
- Financial charges +€5,108
up €5,108 (+24.7%), from €20,640 to €25,748
- Depreciation +€2,804
up €2,804 (+19.2%), from €14,623 to €17,426
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 | €964,606 | €950,687 | -€13,919 | -1.4% |
| Fixed assets | 21/28 | €937,204 | €919,778 | -€17,426 | -1.9% |
| Tangible fixed assets | 22/27 | €937,204 | €919,778 | -€17,426 | -1.9% |
| Land and buildings | 22 | €917,995 | €903,208 | -€14,788 | -1.6% |
| Plant, machinery and equipment | 23 | €19,208 | €16,570 | -€2,639 | -13.7% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €27,402 | €30,909 | +€3,507 | +12.8% |
| Amounts receivable within one year | 40/41 | €22,393 | - | -€22,393 | |
| Trade receivables | 40 | €1,043 | - | -€1,043 | |
| Other amounts receivable | 41 | €21,350 | - | -€21,350 | |
| Cash at bank and in hand | 54/58 | €3,965 | €29,859 | +€25,894 | +653.0% |
| Deferred charges and accrued income | 490/1 | €1,044 | €1,050 | +€6 | +0.6% |
| Total equity and liabilities | 10/49 | €964,606 | €950,687 | -€13,919 | -1.4% |
| Equity | 10/15 | €76,947 | €126,457 | +€49,510 | +64.3% |
| 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% |
| Reserves | 13 | €1,408 | €6,359 | +€4,951 | +351.6% |
| Non-distributable reserves | 130/1 | €1,408 | €6,359 | +€4,951 | +351.6% |
| Legal reserve | 130 | €1,408 | €6,359 | +€4,951 | +351.6% |
| Profit (loss) carried forward | 14 | €14,039 | €58,598 | +€44,559 | +317.4% |
| Amounts payable | 17/49 | €887,659 | €824,229 | -€63,429 | -7.1% |
| Amounts payable after more than one year | 17 | €596,750 | €710,799 | +€114,049 | +19.1% |
| Financial debts | 170/4 | €596,750 | €710,799 | +€114,049 | +19.1% |
| Amounts payable within one year | 42/48 | €290,909 | €113,431 | -€177,478 | -61.0% |
| Current portion of amounts payable after more than one year | 42 | €43,560 | €62,581 | +€19,022 | +43.7% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €883 | €110 | -€773 | -87.6% |
| Suppliers | 440/4 | €883 | €110 | -€773 | -87.6% |
| Taxes, remuneration and social security | 45 | €21,437 | €9,740 | -€11,697 | -54.6% |
| Taxes | 450/3 | €21,437 | €9,740 | -€11,697 | -54.6% |
| Other amounts payable | 47/48 | €225,030 | €41,000 | -€184,030 | -81.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,623 | €17,426 | +€2,804 | +19.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €13,003 | €2,672 | -€10,330 | -79.4% |
| Gross operating margin | 9900 | €124,446 | €100,729 | -€23,717 | -19.1% |
| Operating profit (loss) | 9901 | €96,820 | €80,631 | -€16,190 | -16.7% |
| Financial charges | 65/66B | €20,640 | €25,748 | +€5,108 | +24.7% |
| Recurring financial charges | 65 | €20,640 | €25,748 | +€5,108 | +24.7% |
| Profit (loss) for the period before taxes | 9903 | €76,180 | €54,882 | -€21,298 | -28.0% |
| Income taxes | 67/77 | €17,476 | €5,372 | -€12,105 | -69.3% |
| Profit (loss) for the period | 9904 | €58,704 | €49,510 | -€9,193 | -15.7% |
| Profit (loss) for the period to be appropriated | 9905 | €58,704 | €49,510 | -€9,193 | -15.7% |
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 5 October 2026 via checked.be.