ALBES: 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.
ALBES
Largest movements
- Tangible fixed assets +€343,807
up €343,807 (+9.3%), from €3.7m to €4.0m
of which Land and buildings: +€363,851
- Receivables within one year +€62,786
up €62,786 (+103%), from €61,044 to €123,829
of which Trade receivables: +€63,880
- Debts after one year +€557,094
up €557,094 (+23.4%), from €2.4m to €2.9m
- Trade debts -€250,461
down €250,461 (-99.3%), from €252,167 to €1,706
- Current portion of long-term debt +€85,407
up €85,407 (+34.9%), from €244,853 to €330,260
- Other debts +€75,228
up €75,228 (+31.3%), from €240,653 to €315,881
- Profit (loss) carried forward -€62,364
down €62,364 (-308%), from -€20,274 to -€82,637
- Depreciation +€105,193
up €105,193 (+48.4%), from €217,562 to €322,755
- Gross operating margin -€18,077
down €18,077 (-3.7%), from €490,733 to €472,656
- Other operating charges -€8,609
down €8,609 (-28.8%), from €29,882 to €21,273
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 | €3,796,028 | €4,183,255 | +€387,227 | +10.2% |
| Fixed assets | 21/28 | €3,687,852 | €4,032,659 | +€344,807 | +9.3% |
| Tangible fixed assets | 22/27 | €3,683,033 | €4,026,840 | +€343,807 | +9.3% |
| Land and buildings | 22 | €3,548,755 | €3,912,606 | +€363,851 | +10.3% |
| Plant, machinery and equipment | 23 | €55,604 | €60,881 | +€5,277 | +9.5% |
| Furniture and vehicles | 24 | €78,675 | €53,353 | -€25,322 | -32.2% |
| Financial fixed assets | 28 | €4,819 | €5,819 | +€1,000 | +20.8% |
| Current assets | 29/58 | €108,176 | €150,597 | +€42,421 | +39.2% |
| Amounts receivable within one year | 40/41 | €61,044 | €123,829 | +€62,786 | +103% |
| Trade receivables | 40 | €59,326 | €123,206 | +€63,880 | +108% |
| Other amounts receivable | 41 | €1,718 | €624 | -€1,094 | -63.7% |
| Cash at bank and in hand | 54/58 | €47,132 | €26,767 | -€20,365 | -43.2% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €3,796,028 | €4,183,255 | +€387,227 | +10.2% |
| Equity | 10/15 | €651,226 | €588,863 | -€62,364 | -9.6% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Revaluation surpluses | 12 | €610,000 | €610,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€20,274 | -€82,637 | -€62,364 | -308% |
| Amounts payable | 17/49 | €3,144,802 | €3,594,393 | +€449,591 | +14.3% |
| Amounts payable after more than one year | 17 | €2,381,007 | €2,938,102 | +€557,094 | +23.4% |
| Financial debts | 170/4 | €2,381,007 | €2,938,102 | +€557,094 | +23.4% |
| Amounts payable within one year | 42/48 | €763,794 | €656,291 | -€107,503 | -14.1% |
| Current portion of amounts payable after more than one year | 42 | €244,853 | €330,260 | +€85,407 | +34.9% |
| Trade debts | 44 | €252,167 | €1,706 | -€250,461 | -99.3% |
| Suppliers | 440/4 | €252,167 | €1,706 | -€250,461 | -99.3% |
| Taxes, remuneration and social security | 45 | €26,122 | €8,444 | -€17,677 | -67.7% |
| Taxes | 450/3 | €9,528 | €3,519 | -€6,009 | -63.1% |
| Remuneration and social security | 454/9 | €16,594 | €4,925 | -€11,668 | -70.3% |
| Other amounts payable | 47/48 | €240,653 | €315,881 | +€75,228 | +31.3% |
| Remuneration, social security and pensions | 62 | €73,233 | €69,649 | -€3,583 | -4.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €217,562 | €322,755 | +€105,193 | +48.4% |
| Other operating charges | 640/8 | €29,882 | €21,273 | -€8,609 | -28.8% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €490,733 | €472,656 | -€18,077 | -3.7% |
| Operating profit (loss) | 9901 | €170,056 | €58,979 | -€111,078 | -65.3% |
| Financial income | 75/76B | €185 | €75 | -€110 | -59.2% |
| Recurring financial income | 75 | €185 | €75 | -€110 | -59.2% |
| Financial charges | 65/66B | €120,673 | €121,418 | +€745 | +0.6% |
| Recurring financial charges | 65 | €120,673 | €121,418 | +€745 | +0.6% |
| Profit (loss) for the period before taxes | 9903 | €49,569 | -€62,364 | -€111,933 | |
| Profit (loss) for the period | 9904 | €49,569 | -€62,364 | -€111,933 | |
| Profit (loss) for the period to be appropriated | 9905 | €49,569 | -€62,364 | -€111,933 |
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 31 October 2026 via checked.be.