ALBEDO: 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.
ALBEDO
Largest movements
- Cash -€34,359
down €34,359 (-45.9%), from €74,880 to €40,520
mainly Other debts (-€25,444) and Contributions, distributions and other (-€20,000)
- Receivables within one year -€16,570
down €16,570 (-32.6%), from €50,906 to €34,336
of which Trade receivables: -€20,220
- Tangible fixed assets -€3,900
down €3,900 (-51.9%), from €7,515 to €3,615
of which Furniture and vehicles: -€3,667
- Deferred charges and accrued income +€1,403
up €1,403 (+56.8%), from €2,469 to €3,872
- Other debts -€25,444
down €25,444 (-49.7%), from €51,195 to €25,751
- Reserves -€20,000
down €20,000 (-43.5%), from €46,000 to €26,000
- Tax, wage and social debts -€9,034
down €9,034 (-43.3%), from €20,853 to €11,820
of which Taxes: -€10,634
- Trade debts -€2,674
down €2,674 (-39.4%), from €6,785 to €4,111
- Current portion of long-term debt +€1,666
up €1,666 (+200%), from €833 to €2,499
- Gross operating margin -€64,744
down €64,744 (-70.9%), from €91,291 to €26,547
- Taxes -€19,616
down €19,616 (-80.8%), from €24,267 to €4,651
- Write-downs +€12,100
new in 2025: €12,100
- Depreciation -€1,280
down €1,280 (-19.9%), from €6,443 to €5,163
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 | €135,843 | €82,417 | -€53,426 | -39.3% |
| Fixed assets | 21/28 | €7,589 | €3,689 | -€3,900 | -51.4% |
| Tangible fixed assets | 22/27 | €7,515 | €3,615 | -€3,900 | -51.9% |
| Furniture and vehicles | 24 | €6,691 | €3,023 | -€3,667 | -54.8% |
| Other tangible fixed assets | 26 | €824 | €591 | -€233 | -28.2% |
| Financial fixed assets | 28 | €74 | €74 | = | 0.0% |
| Current assets | 29/58 | €128,254 | €78,728 | -€49,526 | -38.6% |
| Amounts receivable within one year | 40/41 | €50,906 | €34,336 | -€16,570 | -32.6% |
| Trade receivables | 40 | €50,906 | €30,686 | -€20,220 | -39.7% |
| Other amounts receivable | 41 | - | €3,650 | +€3,650 | |
| Cash at bank and in hand | 54/58 | €74,880 | €40,520 | -€34,359 | -45.9% |
| Deferred charges and accrued income | 490/1 | €2,469 | €3,872 | +€1,403 | +56.8% |
| Total equity and liabilities | 10/49 | €135,843 | €82,417 | -€53,426 | -39.3% |
| Equity | 10/15 | €56,177 | €37,616 | -€18,560 | -33.0% |
| Contributions | 10/11 | €9,660 | €9,660 | = | 0.0% |
| Reserves | 13 | €46,000 | €26,000 | -€20,000 | -43.5% |
| Distributable reserves | 133 | €46,000 | €26,000 | -€20,000 | -43.5% |
| Profit (loss) carried forward | 14 | €517 | €1,956 | +€1,440 | +279% |
| Amounts payable | 17/49 | €79,667 | €44,801 | -€34,866 | -43.8% |
| Amounts payable within one year | 42/48 | €79,667 | €44,180 | -€35,486 | -44.5% |
| Current portion of amounts payable after more than one year | 42 | €833 | €2,499 | +€1,666 | +200% |
| Trade debts | 44 | €6,785 | €4,111 | -€2,674 | -39.4% |
| Suppliers | 440/4 | €6,785 | €4,111 | -€2,674 | -39.4% |
| Taxes, remuneration and social security | 45 | €20,853 | €11,820 | -€9,034 | -43.3% |
| Taxes | 450/3 | €16,853 | €6,220 | -€10,634 | -63.1% |
| Remuneration and social security | 454/9 | €4,000 | €5,600 | +€1,600 | +40.0% |
| Other amounts payable | 47/48 | €51,195 | €25,751 | -€25,444 | -49.7% |
| Accrued charges and deferred income | 492/3 | - | €621 | +€621 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,443 | €5,163 | -€1,280 | -19.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €12,100 | +€12,100 | |
| Other operating charges | 640/8 | €2,177 | €2,240 | +€63 | +2.9% |
| Gross operating margin | 9900 | €91,291 | €26,547 | -€64,744 | -70.9% |
| Operating profit (loss) | 9901 | €82,671 | €7,044 | -€75,627 | -91.5% |
| Financial income | 75/76B | €95 | €174 | +€79 | +83.0% |
| Recurring financial income | 75 | €95 | €174 | +€79 | +83.0% |
| Financial charges | 65/66B | €848 | €1,127 | +€279 | +32.9% |
| Recurring financial charges | 65 | €848 | €1,127 | +€279 | +32.9% |
| Profit (loss) for the period before taxes | 9903 | €81,918 | €6,090 | -€75,828 | -92.6% |
| Income taxes | 67/77 | €24,267 | €4,651 | -€19,616 | -80.8% |
| Profit (loss) for the period | 9904 | €57,651 | €1,440 | -€56,212 | -97.5% |
| Profit (loss) for the period to be appropriated | 9905 | €57,651 | €1,440 | -€56,212 | -97.5% |
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 18 October 2026 via checked.be.