Albertstroom: 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.
What changed
Albertstroom
NACE 35.110, Production of electricity from non-renewable sources
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€3.3m
2024 · €2.9m+€430,398
Equity
€7.4m
2024 · €4.0m+€3.3m
Cash
€1.2m
2024 · €397,727+€818,034
Balance sheet total
€17.8m
2024 · €22.0m-€4.2m
Largest movements
Assets
- Tangible fixed assets -€3.8m
down €3.8m (-27.1%), from €13.9m to €10.2m
of which Land and buildings: -€3.7m
- Receivables within one year -€924,360
down €924,360 (-14.6%), from €6.3m to €5.4m
of which Trade receivables: -€911,293
- Cash +€818,034
up €818,034 (+205.7%), from €397,727 to €1.2m
mainly Depreciation (+€4.1m) and Net result for the year (+€3.3m)
- Stocks and contracts -€562,249
down €562,249 (-54.5%), from €1.0m to €469,350
- Deferred charges and accrued income +€228,226
up €228,226 (+70.8%), from €322,355 to €550,581
Equity and liabilities
- Reserves +€3.3m
up €3.3m (+977.5%), from €342,007 to €3.7m
of which Distributable reserves: +€3.2m
- Other debts -€2.8m
down €2.8m (-99.3%), from €2.8m to €18,692
- Debts after one year -€2.5m
down €2.5m (-32.9%), from €7.7m to €5.2m
- Trade debts -€1.7m
down €1.7m (-55.0%), from €3.0m to €1.4m
- Current portion of long-term debt -€821,441
down €821,441 (-24.4%), from €3.4m to €2.5m
Income statement
- Goods and materials -€1.1m
down €1.1m (-17.6%), from €6.2m to €5.1m
of which Purchases: -€1.0m
- Services and other goods +€854,586
up €854,586 (+13.5%), from €6.3m to €7.2m
- Turnover +€442,042
up €442,042 (+2.2%), from €19.8m to €20.3m
- Financial charges -€282,959
down €282,959 (-43.1%), from €656,611 to €373,652
- Taxes +€267,758
up €267,758 (+466.7%), from €57,376 to €325,134
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.
Result 2024
€2.9m
Turnover
+€442,042
Other operating income
+€6,917
Goods and materials
+€1.1m
Services and other goods
-€854,586
Depreciation
-€54,836
Write-downs
+€75,719
Other operating charges
-€4,524
Other operating items
-€99,096
Financial income
-€187,202
Financial charges
+€282,959
Taxes
-€267,758
Result 2025
€3.3m
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.
From operations
+€4.5m
Investment
-€332,293
Financing
-€3.4m
Cash 2024
€397,727
From operations (derived)
+€4.5m
Net result for the year
+€3.3m
Depreciation
+€4.1m
Stocks and contracts
+€562,249
Receivables within one year
+€924,360
Deferred charges and accrued income
-€228,226
Trade debts
-€1.7m
Tax, wage and social debts
+€221,996
Other debts
-€2.8m
Accrued charges and deferred income
+€2,373
Investment (derived)
-€332,293
Investment in fixed assets (net)
-€332,293
Financing
-€3.4m
Debts after one year
-€2.5m
Current portion of long-term debt
-€821,441
Cash 2025
€1.2m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €22,018,519 | €17,801,363 | -€4.2m | -19.2% |
| Fixed assets | 21/28 | €13,949,814 | €10,173,007 | -€3.8m | -27.1% |
| Tangible fixed assets | 22/27 | €13,949,814 | €10,173,007 | -€3.8m | -27.1% |
| Land and buildings | 22 | €13,682,534 | €10,019,246 | -€3.7m | -26.8% |
| Plant, machinery and equipment | 23 | €69,178 | €61,571 | -€7,606 | -11.0% |
| Furniture and vehicles | 24 | €80,672 | €77,189 | -€3,483 | -4.3% |
| Assets under construction and advance payments | 27 | €117,430 | €15,000 | -€102,430 | -87.2% |
| Current assets | 29/58 | €8,068,705 | €7,628,356 | -€440,349 | -5.5% |
| Stocks and contracts in progress | 3 | €1,031,599 | €469,350 | -€562,249 | -54.5% |
| Stocks | 30/36 | €1,031,599 | €469,350 | -€562,249 | -54.5% |
| Raw materials and consumables | 30/31 | €1,031,599 | €469,350 | -€562,249 | -54.5% |
| Amounts receivable within one year | 40/41 | €6,317,024 | €5,392,664 | -€924,360 | -14.6% |
| Trade receivables | 40 | €6,284,110 | €5,372,817 | -€911,293 | -14.5% |
| Other amounts receivable | 41 | €32,914 | €19,848 | -€13,066 | -39.7% |
| Current investments | 50/53 | €0 | - | = | |
| Other investments | 51/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €397,727 | €1,215,761 | +€818,034 | +205.7% |
| Deferred charges and accrued income | 490/1 | €322,355 | €550,581 | +€228,226 | +70.8% |
| Total equity and liabilities | 10/49 | €22,018,519 | €17,801,363 | -€4.2m | -19.2% |
| Equity | 10/15 | €4,023,594 | €7,366,784 | +€3.3m | +83.1% |
| Contributions | 10/11 | €3,681,586 | €3,681,586 | = | 0.0% |
| Capital | 10 | €3,681,586 | €3,681,586 | = | 0.0% |
| Issued capital | 100 | €3,681,586 | €3,681,586 | = | 0.0% |
| Reserves | 13 | €342,007 | €3,685,198 | +€3.3m | +977.5% |
| Non-distributable reserves | 130/1 | €274,854 | €368,159 | +€93,304 | +33.9% |
| Legal reserve | 130 | €274,854 | €368,159 | +€93,304 | +33.9% |
| Distributable reserves | 133 | €67,153 | €3,317,039 | +€3.2m | +4839.5% |
| Amounts payable | 17/49 | €17,994,925 | €10,434,578 | -€7.6m | -42.0% |
| Amounts payable after more than one year | 17 | €7,744,275 | €5,200,000 | -€2.5m | -32.9% |
| Financial debts | 170/4 | €7,744,275 | €5,200,000 | -€2.5m | -32.9% |
| Subordinated loans | 170 | €5,000,000 | €5,000,000 | = | 0.0% |
| Credit institutions | 173 | €2,744,275 | €200,000 | -€2.5m | -92.7% |
| Amounts payable within one year | 42/48 | €9,258,093 | €4,239,649 | -€5.0m | -54.2% |
| Current portion of amounts payable after more than one year | 42 | €3,365,716 | €2,544,275 | -€821,441 | -24.4% |
| Trade debts | 44 | €3,016,467 | €1,357,807 | -€1.7m | -55.0% |
| Suppliers | 440/4 | €3,016,467 | €1,357,807 | -€1.7m | -55.0% |
| Taxes, remuneration and social security | 45 | €96,880 | €318,875 | +€221,996 | +229.1% |
| Taxes | 450/3 | €96,880 | €318,875 | +€221,996 | +229.1% |
| Other amounts payable | 47/48 | €2,779,030 | €18,692 | -€2.8m | -99.3% |
| Accrued charges and deferred income | 492/3 | €992,557 | €994,930 | +€2,373 | +0.2% |
| Operating income | 70/76A | €20,052,433 | €20,402,296 | +€349,863 | +1.7% |
| Turnover | 70 | €19,835,930 | €20,277,972 | +€442,042 | +2.2% |
| Other operating income | 74 | €117,407 | €124,324 | +€6,917 | +5.9% |
| Non-recurring operating income | 76A | €99,096 | €0 | -€99,096 | -100.0% |
| Operating charges | 60/66A | €16,720,433 | €16,467,897 | -€252,536 | -1.5% |
| Goods for resale, raw materials and consumables | 60 | €6,185,614 | €5,094,853 | -€1.1m | -17.6% |
| Purchases | 600/8 | €5,579,027 | €4,532,604 | -€1.0m | -18.8% |
| Change in stocks: decrease (increase) | 609 | €606,588 | €562,249 | -€44,339 | -7.3% |
| Services and other goods | 61 | €6,348,176 | €7,202,762 | +€854,586 | +13.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,054,264 | €4,109,100 | +€54,836 | +1.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €88,307 | €12,587 | -€75,719 | -85.7% |
| Other operating charges | 640/8 | €44,072 | €48,596 | +€4,524 | +10.3% |
| Operating profit (loss) | 9901 | €3,332,000 | €3,934,399 | +€602,398 | +18.1% |
| Financial income | 75/76B | €294,779 | €107,578 | -€187,202 | -63.5% |
| Recurring financial income | 75 | €294,779 | €107,578 | -€187,202 | -63.5% |
| Income from financial fixed assets | 750 | €14,152 | €0 | -€14,152 | -100.0% |
| Income from current assets | 751 | - | €10,547 | +€10,547 | |
| Other financial income | 752/9 | €280,627 | €97,031 | -€183,596 | -65.4% |
| Financial charges | 65/66B | €656,611 | €373,652 | -€282,959 | -43.1% |
| Recurring financial charges | 65 | €656,611 | €373,652 | -€282,959 | -43.1% |
| Debt charges | 650 | €655,794 | €373,000 | -€282,794 | -43.1% |
| Other financial charges | 652/9 | €816 | €652 | -€165 | -20.2% |
| Profit (loss) for the period before taxes | 9903 | €2,970,169 | €3,668,325 | +€698,156 | +23.5% |
| Income taxes | 67/77 | €57,376 | €325,134 | +€267,758 | +466.7% |
| Taxes | 670/3 | €57,376 | €325,134 | +€267,758 | +466.7% |
| Profit (loss) for the period | 9904 | €2,912,793 | €3,343,191 | +€430,398 | +14.8% |
| Profit (loss) for the period to be appropriated | 9905 | €2,912,793 | €3,343,191 | +€430,398 | +14.8% |
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 3 October 2026 via checked.be.