Albatros: 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.
Albatros
Largest movements
- Cash +€169,437
up €169,437 (+95.2%), from €177,900 to €347,337
mainly Net result for the year (+€180,082) and Tax, wage and social debts (+€116,757)
- Receivables within one year -€108,216
down €108,216 (-8.3%), from €1.3m to €1.2m
of which Trade receivables: -€109,177
- Intangible fixed assets -€71,842
down €71,842 (-63.2%), from €113,618 to €41,776
- Stocks and contracts -€39,395
down €39,395 (-7.6%), from €520,042 to €480,647
- Trade debts -€138,638
down €138,638 (-37.5%), from €369,585 to €230,947
- Debts after one year -€132,568
down €132,568 (-22.6%), from €586,749 to €454,180
- Tax, wage and social debts +€116,757
up €116,757 (+24.6%), from €474,243 to €591,001
of which Remuneration and social security: +€62,757
- Reserves +€64,512
up €64,512 (+10.7%), from €602,513 to €667,025
of which Distributable reserves: +€64,512
- Current portion of long-term debt +€39,252
up €39,252 (+11.6%), from €338,469 to €377,720
- Staff costs +€276,667
up €276,667 (+11.2%), from €2.5m to €2.7m
- Gross operating margin +€263,373
up €263,373 (+9.1%), from €2.9m to €3.1m
- Financial charges -€34,571
down €34,571 (-49.2%), from €70,210 to €35,639
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.
Derived cash bridge
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 | €2,744,160 | €2,682,687 | -€61,472 | -2.2% |
| Fixed assets | 21/28 | €706,483 | €625,202 | -€81,281 | -11.5% |
| Intangible fixed assets | 21 | €113,618 | €41,776 | -€71,842 | -63.2% |
| Tangible fixed assets | 22/27 | €574,626 | €565,187 | -€9,439 | -1.6% |
| Land and buildings | 22 | €509,433 | €488,723 | -€20,711 | -4.1% |
| Plant, machinery and equipment | 23 | €41,460 | €44,004 | +€2,544 | +6.1% |
| Furniture and vehicles | 24 | €23,732 | €32,459 | +€8,728 | +36.8% |
| Financial fixed assets | 28 | €18,240 | €18,240 | = | 0.0% |
| Current assets | 29/58 | €2,037,676 | €2,057,485 | +€19,809 | +1.0% |
| Stocks and contracts in progress | 3 | €520,042 | €480,647 | -€39,395 | -7.6% |
| Stocks | 30/36 | €520,042 | €480,647 | -€39,395 | -7.6% |
| Amounts receivable within one year | 40/41 | €1,310,531 | €1,202,314 | -€108,216 | -8.3% |
| Trade receivables | 40 | €1,278,842 | €1,169,666 | -€109,177 | -8.5% |
| Other amounts receivable | 41 | €31,688 | €32,649 | +€960 | +3.0% |
| Cash at bank and in hand | 54/58 | €177,900 | €347,337 | +€169,437 | +95.2% |
| Deferred charges and accrued income | 490/1 | €29,204 | €27,186 | -€2,017 | -6.9% |
| Total equity and liabilities | 10/49 | €2,744,160 | €2,682,687 | -€61,472 | -2.2% |
| Equity | 10/15 | €937,139 | €979,782 | +€42,643 | +4.6% |
| Contributions | 10/11 | €300,000 | €300,000 | = | 0.0% |
| Capital | 10 | €300,000 | €300,000 | = | 0.0% |
| Issued capital | 100 | €300,000 | €300,000 | = | 0.0% |
| Reserves | 13 | €602,513 | €667,025 | +€64,512 | +10.7% |
| Non-distributable reserves | 130/1 | €104,368 | €104,368 | = | 0.0% |
| Legal reserve | 130 | €30,000 | €30,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €74,368 | €74,368 | = | 0.0% |
| Tax-exempt reserves | 132 | €19,262 | €19,262 | = | 0.0% |
| Distributable reserves | 133 | €478,883 | €543,395 | +€64,512 | +13.5% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Investment grants | 15 | €34,626 | €12,757 | -€21,869 | -63.2% |
| Amounts payable | 17/49 | €1,807,020 | €1,702,905 | -€104,115 | -5.8% |
| Amounts payable after more than one year | 17 | €586,749 | €454,180 | -€132,568 | -22.6% |
| Financial debts | 170/4 | €586,749 | €454,180 | -€132,568 | -22.6% |
| Amounts payable within one year | 42/48 | €1,189,584 | €1,223,002 | +€33,418 | +2.8% |
| Current portion of amounts payable after more than one year | 42 | €338,469 | €377,720 | +€39,252 | +11.6% |
| Trade debts | 44 | €369,585 | €230,947 | -€138,638 | -37.5% |
| Suppliers | 440/4 | €369,585 | €230,947 | -€138,638 | -37.5% |
| Taxes, remuneration and social security | 45 | €474,243 | €591,001 | +€116,757 | +24.6% |
| Taxes | 450/3 | €130,319 | €184,319 | +€54,000 | +41.4% |
| Remuneration and social security | 454/9 | €343,925 | €406,682 | +€62,757 | +18.2% |
| Other amounts payable | 47/48 | €7,287 | €23,334 | +€16,047 | +220% |
| Accrued charges and deferred income | 492/3 | €30,688 | €25,723 | -€4,965 | -16.2% |
| Remuneration, social security and pensions | 62 | €2,472,874 | €2,749,541 | +€276,667 | +11.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €138,332 | €116,564 | -€21,768 | -15.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €676 | €0 | -€676 | -100% |
| Other operating charges | 640/8 | €16,806 | €23,349 | +€6,544 | +38.9% |
| Gross operating margin | 9900 | €2,879,348 | €3,142,721 | +€263,373 | +9.1% |
| Operating profit (loss) | 9901 | €250,660 | €253,267 | +€2,607 | +1.0% |
| Financial income | 75/76B | €23,322 | €27,808 | +€4,487 | +19.2% |
| Recurring financial income | 75 | €23,322 | €27,808 | +€4,487 | +19.2% |
| Financial charges | 65/66B | €70,210 | €35,639 | -€34,571 | -49.2% |
| Recurring financial charges | 65 | €70,210 | €35,639 | -€34,571 | -49.2% |
| Profit (loss) for the period before taxes | 9903 | €203,771 | €245,436 | +€41,665 | +20.4% |
| Income taxes | 67/77 | €57,601 | €65,354 | +€7,753 | +13.5% |
| Profit (loss) for the period | 9904 | €146,170 | €180,082 | +€33,912 | +23.2% |
| Profit (loss) for the period to be appropriated | 9905 | €146,170 | €180,082 | +€33,912 | +23.2% |
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 19 October 2026 via checked.be.