ALAR: 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.
ALAR
Largest movements
- Tangible fixed assets +€44,939
up €44,939 (+6.2%), from €724,228 to €769,167
of which Assets under construction and advance payments: +€40,803
- Cash -€21,774
down €21,774 (-38.9%), from €55,989 to €34,215
mainly Contributions, distributions and other (-€134,768) and Investment in fixed assets (net) (-€116,103)
- Receivables within one year -€13,737
down €13,737 (-6.6%), from €209,248 to €195,511
of which Trade receivables: -€13,487
- Debts after one year +€110,220
up €110,220 (+115.4%), from €95,524 to €205,744
of which Other amounts payable: +€83,831
- Tax, wage and social debts -€56,538
down €56,538 (-24.4%), from €231,978 to €175,440
of which Taxes: -€68,603
- Reserves -€43,830
down €43,830 (-53.9%), from €81,330 to €37,500
of which Distributable reserves: -€43,830
- Other debts +€16,468
up €16,468 (+13.9%), from €118,300 to €134,768
- Current portion of long-term debt -€11,952
down €11,952 (-17.8%), from €67,295 to €55,343
- Staff costs +€70,276
up €70,276 (+6.7%), from €1.1m to €1.1m
- Gross operating margin -€44,346
down €44,346 (-3.2%), from €1.4m to €1.4m
- Taxes -€32,797
down €32,797 (-50.4%), from €65,071 to €32,275
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 | €1,009,049 | €1,015,762 | +€6,713 | +0.7% |
| Fixed assets | 21/28 | €725,978 | €770,917 | +€44,939 | +6.2% |
| Tangible fixed assets | 22/27 | €724,228 | €769,167 | +€44,939 | +6.2% |
| Land and buildings | 22 | €722,548 | €688,707 | -€33,840 | -4.7% |
| Furniture and vehicles | 24 | €1,680 | €39,657 | +€37,976 | +2260.4% |
| Assets under construction and advance payments | 27 | - | €40,803 | +€40,803 | |
| Financial fixed assets | 28 | €1,750 | €1,750 | = | 0.0% |
| Current assets | 29/58 | €283,071 | €244,845 | -€38,226 | -13.5% |
| Amounts receivable within one year | 40/41 | €209,248 | €195,511 | -€13,737 | -6.6% |
| Trade receivables | 40 | €176,787 | €163,300 | -€13,487 | -7.6% |
| Other amounts receivable | 41 | €32,461 | €32,211 | -€250 | -0.8% |
| Cash at bank and in hand | 54/58 | €55,989 | €34,215 | -€21,774 | -38.9% |
| Deferred charges and accrued income | 490/1 | €17,834 | €15,119 | -€2,715 | -15.2% |
| Total equity and liabilities | 10/49 | €1,009,049 | €1,015,762 | +€6,713 | +0.7% |
| Equity | 10/15 | €215,070 | €171,240 | -€43,830 | -20.4% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €81,330 | €37,500 | -€43,830 | -53.9% |
| Non-distributable reserves | 130/1 | €37,500 | €37,500 | = | 0.0% |
| Reserves not available under the articles | 1311 | €37,500 | €37,500 | = | 0.0% |
| Distributable reserves | 133 | €43,830 | €0 | -€43,830 | -100.0% |
| Profit (loss) carried forward | 14 | €83,740 | €83,740 | = | 0.0% |
| Amounts payable | 17/49 | €793,979 | €844,522 | +€50,543 | +6.4% |
| Amounts payable after more than one year | 17 | €95,524 | €205,744 | +€110,220 | +115.4% |
| Financial debts | 170/4 | €29,583 | €55,972 | +€26,389 | +89.2% |
| Other amounts payable | 178/9 | €65,941 | €149,772 | +€83,831 | +127.1% |
| Amounts payable within one year | 42/48 | €607,727 | €551,353 | -€56,374 | -9.3% |
| Current portion of amounts payable after more than one year | 42 | €67,295 | €55,343 | -€11,952 | -17.8% |
| Financial debts | 43 | €136,191 | €129,130 | -€7,061 | -5.2% |
| Credit institutions | 430/8 | €136,191 | €129,130 | -€7,061 | -5.2% |
| Trade debts | 44 | €53,963 | €56,672 | +€2,709 | +5.0% |
| Suppliers | 440/4 | €53,963 | €56,672 | +€2,709 | +5.0% |
| Taxes, remuneration and social security | 45 | €231,978 | €175,440 | -€56,538 | -24.4% |
| Taxes | 450/3 | €82,080 | €13,476 | -€68,603 | -83.6% |
| Remuneration and social security | 454/9 | €149,898 | €161,964 | +€12,066 | +8.0% |
| Other amounts payable | 47/48 | €118,300 | €134,768 | +€16,468 | +13.9% |
| Accrued charges and deferred income | 492/3 | €90,728 | €87,425 | -€3,303 | -3.6% |
| Remuneration, social security and pensions | 62 | €1,053,173 | €1,123,449 | +€70,276 | +6.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €65,086 | €71,164 | +€6,078 | +9.3% |
| Other operating charges | 640/8 | €15,888 | €16,998 | +€1,110 | +7.0% |
| Gross operating margin | 9900 | €1,396,179 | €1,351,834 | -€44,346 | -3.2% |
| Operating profit (loss) | 9901 | €262,032 | €140,222 | -€121,810 | -46.5% |
| Financial income | 75/76B | €269 | €154 | -€115 | -42.8% |
| Recurring financial income | 75 | €269 | €154 | -€115 | -42.8% |
| Financial charges | 65/66B | €10,137 | €17,164 | +€7,027 | +69.3% |
| Recurring financial charges | 65 | €10,137 | €17,164 | +€7,027 | +69.3% |
| Profit (loss) for the period before taxes | 9903 | €252,165 | €123,212 | -€128,952 | -51.1% |
| Transfer from deferred taxes | 780 | €0 | - | = | |
| Income taxes | 67/77 | €65,071 | €32,275 | -€32,797 | -50.4% |
| Profit (loss) for the period | 9904 | €187,093 | €90,938 | -€96,156 | -51.4% |
| Transfer from tax-exempt reserves | 789 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €187,093 | €90,938 | -€96,156 | -51.4% |
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 9 October 2026 via checked.be.