ALBERTS: 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.
ALBERTS
Largest movements
- Cash -€319,224
down €319,224 (-81.9%), from €389,994 to €70,770
mainly Net result for the year (-€947,439) and Accrued charges and deferred income (-€15,368)
- Tangible fixed assets -€280,948
down €280,948 (-62.1%), from €452,467 to €171,519
of which Plant, machinery and equipment: -€263,310
- Intangible fixed assets -€52,086
down €52,086 (-32.3%), from €161,194 to €109,108
- Stocks and contracts -€40,073
down €40,073 (-10.7%), from €376,182 to €336,109
- Profit (loss) carried forward -€947,439
down €947,439 (-92.9%), from -€1.0m to -€2.0m
- Other debts +€117,540
up €117,540 (+536.2%), from €21,919 to €139,459
- Debts after one year +€93,087
up €93,087 (+14.5%), from €643,274 to €736,362
- Investment grants +€37,922
up €37,922 (+11.9%), from €318,013 to €355,935
- Staff costs -€127,933
down €127,933 (-24.3%), from €525,968 to €398,035
- Gross operating margin -€66,902
down €66,902 (-14.5%), from -€461,036 to -€527,939
- Depreciation -€66,271
down €66,271 (-38.8%), from €170,871 to €104,600
- Financial income -€31,333
down €31,333 (-14.4%), from €217,151 to €185,818
- Other operating charges +€28,897
up €28,897 (+353.4%), from €8,176 to €37,073
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 | €3,380,185 | €2,661,840 | -€718,345 | -21.3% |
| Fixed assets | 21/28 | €2,463,658 | €2,130,623 | -€333,035 | -13.5% |
| Intangible fixed assets | 21 | €161,194 | €109,108 | -€52,086 | -32.3% |
| Tangible fixed assets | 22/27 | €452,467 | €171,519 | -€280,948 | -62.1% |
| Plant, machinery and equipment | 23 | €430,852 | €167,542 | -€263,310 | -61.1% |
| Furniture and vehicles | 24 | €21,615 | €3,977 | -€17,638 | -81.6% |
| Financial fixed assets | 28 | €1,849,997 | €1,849,997 | = | 0.0% |
| Current assets | 29/58 | €916,527 | €531,217 | -€385,310 | -42.0% |
| Stocks and contracts in progress | 3 | €376,182 | €336,109 | -€40,073 | -10.7% |
| Stocks | 30/36 | €376,182 | €336,109 | -€40,073 | -10.7% |
| Amounts receivable within one year | 40/41 | €140,656 | €119,425 | -€21,231 | -15.1% |
| Trade receivables | 40 | €72,937 | €77,535 | +€4,598 | +6.3% |
| Other amounts receivable | 41 | €67,718 | €41,890 | -€25,829 | -38.1% |
| Cash at bank and in hand | 54/58 | €389,994 | €70,770 | -€319,224 | -81.9% |
| Deferred charges and accrued income | 490/1 | €9,695 | €4,913 | -€4,782 | -49.3% |
| Total equity and liabilities | 10/49 | €3,380,185 | €2,661,840 | -€718,345 | -21.3% |
| Equity | 10/15 | €2,085,881 | €1,176,363 | -€909,517 | -43.6% |
| Contributions | 10/11 | €2,788,101 | €2,788,101 | = | 0.0% |
| Capital | 10 | €180,291 | €2,788,101 | +€2.6m | +1446.4% |
| Issued capital | 100 | €180,291 | €2,788,101 | +€2.6m | +1446.4% |
| Outside capital | 11 | €2,607,810 | - | -€2.6m | |
| Share premium | 1100/10 | €2,607,810 | - | -€2.6m | |
| Profit (loss) carried forward | 14 | -€1,020,233 | -€1,967,673 | -€947,439 | -92.9% |
| Investment grants | 15 | €318,013 | €355,935 | +€37,922 | +11.9% |
| Amounts payable | 17/49 | €1,294,304 | €1,485,477 | +€191,173 | +14.8% |
| Amounts payable after more than one year | 17 | €643,274 | €736,362 | +€93,087 | +14.5% |
| Financial debts | 170/4 | €643,274 | €736,362 | +€93,087 | +14.5% |
| Amounts payable within one year | 42/48 | €628,999 | €742,452 | +€113,453 | +18.0% |
| Current portion of amounts payable after more than one year | 42 | €161,842 | €147,721 | -€14,121 | -8.7% |
| Financial debts | 43 | €150,084 | €150,000 | -€84 | -0.1% |
| Credit institutions | 430/8 | €150,084 | €150,000 | -€84 | -0.1% |
| Trade debts | 44 | €233,436 | €242,193 | +€8,758 | +3.8% |
| Suppliers | 440/4 | €233,436 | €242,193 | +€8,758 | +3.8% |
| Taxes, remuneration and social security | 45 | €61,718 | €63,078 | +€1,360 | +2.2% |
| Taxes | 450/3 | €3,502 | €4,332 | +€830 | +23.7% |
| Remuneration and social security | 454/9 | €58,216 | €58,746 | +€530 | +0.9% |
| Other amounts payable | 47/48 | €21,919 | €139,459 | +€117,540 | +536.2% |
| Accrued charges and deferred income | 492/3 | €22,031 | €6,664 | -€15,368 | -69.8% |
| Remuneration, social security and pensions | 62 | €525,968 | €398,035 | -€127,933 | -24.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €170,871 | €104,600 | -€66,271 | -38.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €5,882 | +€5,882 | |
| Other operating charges | 640/8 | €8,176 | €37,073 | +€28,897 | +353.4% |
| Gross operating margin | 9900 | -€461,036 | -€527,939 | -€66,902 | -14.5% |
| Operating profit (loss) | 9901 | -€1,166,052 | -€1,073,529 | +€92,522 | +7.9% |
| Financial income | 75/76B | €217,151 | €185,818 | -€31,333 | -14.4% |
| Recurring financial income | 75 | €217,151 | €185,818 | -€31,333 | -14.4% |
| Financial charges | 65/66B | €70,028 | €57,837 | -€12,191 | -17.4% |
| Recurring financial charges | 65 | €70,028 | €57,837 | -€12,191 | -17.4% |
| Profit (loss) for the period before taxes | 9903 | -€1,018,929 | -€945,549 | +€73,381 | +7.2% |
| Income taxes | 67/77 | €1,304 | €1,891 | +€587 | +45.0% |
| Profit (loss) for the period | 9904 | -€1,020,233 | -€947,439 | +€72,794 | +7.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,020,233 | -€947,439 | +€72,794 | +7.1% |
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 9 October 2026 via checked.be.