ALBELCO: 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.
ALBELCO
Largest movements
- Tangible fixed assets +€27,729
up €27,729 (+82.9%), from €33,454 to €61,183
of which Land and buildings: +€32,769
- Receivables within one year -€9,496
down €9,496 (-10.9%), from €87,016 to €77,520
of which Trade receivables: -€9,545
- Stocks and contracts +€4,777
up €4,777 (+10.4%), from €45,732 to €50,510
- Cash -€3,476
down €3,476 (-24.7%), from €14,101 to €10,624
mainly Investment in fixed assets (net) (-€34,674) and Trade debts (-€27,694)
- Debts after one year +€43,713
up €43,713 (+3,260%), from €1,341 to €45,054
- Trade debts -€27,694
down €27,694 (-82.7%), from €33,469 to €5,775
- Tax, wage and social debts +€9,000
up €9,000 (+47.4%), from €19,006 to €28,006
of which Remuneration and social security: +€9,000
- Profit (loss) carried forward -€8,681
down €8,681 (-11.3%), from €76,526 to €67,845
- Other debts +€3,557
up €3,557 (+25.7%), from €13,858 to €17,415
- Gross operating margin -€10,794
down €10,794 (-66.6%), from €16,209 to €5,415
- Other operating charges +€2,170
up €2,170 (+117%), from €1,856 to €4,026
- Taxes -€836
no longer reported in 2025 (was €836)
- Financial charges -€477
down €477 (-13.3%), from €3,602 to €3,124
- Depreciation +€346
up €346 (+5.2%), from €6,599 to €6,945
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 | €181,427 | €200,852 | +€19,425 | +10.7% |
| Fixed assets | 21/28 | €33,929 | €61,658 | +€27,729 | +81.7% |
| Tangible fixed assets | 22/27 | €33,454 | €61,183 | +€27,729 | +82.9% |
| Land and buildings | 22 | €27,378 | €60,147 | +€32,769 | +120% |
| Furniture and vehicles | 24 | €6,076 | €1,036 | -€5,040 | -83.0% |
| Financial fixed assets | 28 | €475 | €475 | = | 0.0% |
| Current assets | 29/58 | €147,498 | €139,194 | -€8,304 | -5.6% |
| Stocks and contracts in progress | 3 | €45,732 | €50,510 | +€4,777 | +10.4% |
| Stocks | 30/36 | €45,732 | €50,510 | +€4,777 | +10.4% |
| Amounts receivable within one year | 40/41 | €87,016 | €77,520 | -€9,496 | -10.9% |
| Trade receivables | 40 | €86,765 | €77,220 | -€9,545 | -11.0% |
| Other amounts receivable | 41 | €251 | €300 | +€49 | +19.5% |
| Cash at bank and in hand | 54/58 | €14,101 | €10,624 | -€3,476 | -24.7% |
| Deferred charges and accrued income | 490/1 | €649 | €540 | -€109 | -16.7% |
| Total equity and liabilities | 10/49 | €181,427 | €200,852 | +€19,425 | +10.7% |
| Equity | 10/15 | €96,986 | €88,305 | -€8,681 | -9.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €76,526 | €67,845 | -€8,681 | -11.3% |
| Amounts payable | 17/49 | €84,441 | €112,547 | +€28,106 | +33.3% |
| Amounts payable after more than one year | 17 | €1,341 | €45,054 | +€43,713 | +3,260% |
| Financial debts | 170/4 | €1,341 | €45,054 | +€43,713 | +3,260% |
| Amounts payable within one year | 42/48 | €83,100 | €67,493 | -€15,606 | -18.8% |
| Current portion of amounts payable after more than one year | 42 | €16,767 | €16,297 | -€469 | -2.8% |
| Trade debts | 44 | €33,469 | €5,775 | -€27,694 | -82.7% |
| Suppliers | 440/4 | €33,469 | €5,775 | -€27,694 | -82.7% |
| Taxes, remuneration and social security | 45 | €19,006 | €28,006 | +€9,000 | +47.4% |
| Taxes | 450/3 | €1,586 | €1,586 | = | 0.0% |
| Remuneration and social security | 454/9 | €17,420 | €26,420 | +€9,000 | +51.7% |
| Other amounts payable | 47/48 | €13,858 | €17,415 | +€3,557 | +25.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,599 | €6,945 | +€346 | +5.2% |
| Other operating charges | 640/8 | €1,856 | €4,026 | +€2,170 | +117% |
| Gross operating margin | 9900 | €16,209 | €5,415 | -€10,794 | -66.6% |
| Operating profit (loss) | 9901 | €7,754 | -€5,556 | -€13,311 | |
| Financial income | 75/76B | €9 | - | -€9 | |
| Recurring financial income | 75 | €9 | - | -€9 | |
| Financial charges | 65/66B | €3,602 | €3,124 | -€477 | -13.3% |
| Recurring financial charges | 65 | €3,602 | €3,124 | -€477 | -13.3% |
| Profit (loss) for the period before taxes | 9903 | €4,162 | -€8,681 | -€12,843 | |
| Income taxes | 67/77 | €836 | - | -€836 | |
| Profit (loss) for the period | 9904 | €3,325 | -€8,681 | -€12,006 | |
| Profit (loss) for the period to be appropriated | 9905 | €3,325 | -€8,681 | -€12,006 |
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 27 October 2026 via checked.be.