ALAMA: 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.
ALAMA
Largest movements
- Tangible fixed assets -€15,268
down €15,268 (-2.4%), from €638,801 to €623,534
of which Plant, machinery and equipment: -€12,419
- Cash +€8,061
up €8,061 (+21.9%), from €36,853 to €44,914
mainly Depreciation (+€20,761) and Deferred charges and accrued income (+€2,151)
No liability line moved by more than 1% of the balance sheet total.
- Depreciation -€8,236
down €8,236 (-28.4%), from €28,997 to €20,761
- Gross operating margin +€4,091
up €4,091 (+18.3%), from €22,323 to €26,414
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 | €679,357 | €670,322 | -€9,034 | -1.3% |
| Fixed assets | 21/28 | €638,826 | €623,559 | -€15,268 | -2.4% |
| Tangible fixed assets | 22/27 | €638,801 | €623,534 | -€15,268 | -2.4% |
| Land and buildings | 22 | €551,660 | €548,184 | -€3,476 | -0.6% |
| Plant, machinery and equipment | 23 | €87,060 | €74,641 | -€12,419 | -14.3% |
| Furniture and vehicles | 24 | €82 | €709 | +€627 | +764.0% |
| Financial fixed assets | 28 | €25 | €25 | = | 0.0% |
| Current assets | 29/58 | €40,531 | €46,764 | +€6,233 | +15.4% |
| Amounts receivable within one year | 40/41 | €73 | €396 | +€323 | +443.1% |
| Trade receivables | 40 | €0 | €296 | +€296 | |
| Other amounts receivable | 41 | €73 | €100 | +€27 | +36.9% |
| Cash at bank and in hand | 54/58 | €36,853 | €44,914 | +€8,061 | +21.9% |
| Deferred charges and accrued income | 490/1 | €3,605 | €1,454 | -€2,151 | -59.7% |
| Total equity and liabilities | 10/49 | €679,357 | €670,322 | -€9,034 | -1.3% |
| Equity | 10/15 | €668,720 | €664,501 | -€4,219 | -0.6% |
| Contributions | 10/11 | €944,474 | €944,474 | = | 0.0% |
| Capital | 10 | €944,474 | €944,474 | = | 0.0% |
| Issued capital | 100 | €944,474 | €944,474 | = | 0.0% |
| Reserves | 13 | €4,176 | €4,176 | = | 0.0% |
| Non-distributable reserves | 130/1 | €124 | €124 | = | 0.0% |
| Legal reserve | 130 | €124 | €124 | = | 0.0% |
| Distributable reserves | 133 | €4,052 | €4,052 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€279,930 | -€284,149 | -€4,219 | -1.5% |
| Amounts payable | 17/49 | €10,637 | €5,821 | -€4,816 | -45.3% |
| Amounts payable after more than one year | 17 | €1,900 | €0 | -€1,900 | -100.0% |
| Other amounts payable | 178/9 | €1,900 | €0 | -€1,900 | -100.0% |
| Amounts payable within one year | 42/48 | €4,804 | €3,947 | -€857 | -17.8% |
| Trade debts | 44 | €237 | €103 | -€134 | -56.7% |
| Suppliers | 440/4 | €237 | €103 | -€134 | -56.7% |
| Other amounts payable | 47/48 | €4,566 | €3,844 | -€722 | -15.8% |
| Accrued charges and deferred income | 492/3 | €3,933 | €1,874 | -€2,059 | -52.3% |
| Non-recurring operating income | 76A | €27 | €0 | -€27 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,997 | €20,761 | -€8,236 | -28.4% |
| Other operating charges | 640/8 | €9,523 | €9,744 | +€221 | +2.3% |
| Non-recurring operating charges | 66A | €0 | €82 | +€82 | |
| Gross operating margin | 9900 | €22,323 | €26,414 | +€4,091 | +18.3% |
| Operating profit (loss) | 9901 | -€16,196 | -€4,173 | +€12,023 | +74.2% |
| Financial income | 75/76B | €188 | €145 | -€42 | -22.6% |
| Recurring financial income | 75 | €188 | €145 | -€42 | -22.6% |
| Financial charges | 65/66B | €176 | €191 | +€15 | +8.4% |
| Recurring financial charges | 65 | €176 | €191 | +€15 | +8.4% |
| Profit (loss) for the period before taxes | 9903 | -€16,185 | -€4,219 | +€11,966 | +73.9% |
| Income taxes | 67/77 | -€17 | €0 | +€17 | |
| Profit (loss) for the period | 9904 | -€16,168 | -€4,219 | +€11,949 | +73.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€16,168 | -€4,219 | +€11,949 | +73.9% |
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 29 September 2026 via checked.be.