ALBO: 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.
ALBO
Largest movements
- Stocks and contracts -€291,490
down €291,490 (-43.8%), from €665,969 to €374,479
- Receivables within one year +€237,064
up €237,064 (+178%), from €133,437 to €370,501
of which Other amounts receivable: +€251,584
- Cash -€81,068
down €81,068 (-26.0%), from €312,021 to €230,953
mainly Receivables within one year (-€237,064) and Contributions, distributions and other (-€136,000)
- Tangible fixed assets -€30,167
down €30,167 (-8.7%), from €344,888 to €314,722
of which Furniture and vehicles: -€18,119
- Reserves -€140,893
down €140,893 (-10.8%), from €1.3m to €1.2m
of which Distributable reserves: -€140,893
- Debts after one year -€30,329
down €30,329 (-35.2%), from €86,189 to €55,860
- Trade debts +€22,568
up €22,568 (+95.4%), from €23,645 to €46,212
- Other operating charges -€4,244
down €4,244 (-38.2%), from €11,111 to €6,867
- Staff costs -€3,505
down €3,505 (-89.5%), from €3,916 to €412
- Depreciation +€2,687
up €2,687 (+6.9%), from €38,834 to €41,521
- Gross operating margin -€2,224
down €2,224 (-4.4%), from €50,080 to €47,856
- Financial charges -€1,512
down €1,512 (-27.5%), from €5,496 to €3,983
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 | €1,461,464 | €1,296,118 | -€165,345 | -11.3% |
| Fixed assets | 21/28 | €345,428 | €314,992 | -€30,437 | -8.8% |
| Tangible fixed assets | 22/27 | €344,888 | €314,722 | -€30,167 | -8.7% |
| Land and buildings | 22 | €206,348 | €192,030 | -€14,318 | -6.9% |
| Plant, machinery and equipment | 23 | €17,281 | €22,168 | +€4,887 | +28.3% |
| Furniture and vehicles | 24 | €66,135 | €48,016 | -€18,119 | -27.4% |
| Other tangible fixed assets | 26 | €55,124 | €52,508 | -€2,616 | -4.7% |
| Financial fixed assets | 28 | €540 | €270 | -€270 | -50.0% |
| Current assets | 29/58 | €1,116,035 | €981,127 | -€134,909 | -12.1% |
| Stocks and contracts in progress | 3 | €665,969 | €374,479 | -€291,490 | -43.8% |
| Stocks | 30/36 | €665,969 | €374,479 | -€291,490 | -43.8% |
| Amounts receivable within one year | 40/41 | €133,437 | €370,501 | +€237,064 | +178% |
| Trade receivables | 40 | €99,454 | €84,935 | -€14,520 | -14.6% |
| Other amounts receivable | 41 | €33,983 | €285,566 | +€251,584 | +740% |
| Cash at bank and in hand | 54/58 | €312,021 | €230,953 | -€81,068 | -26.0% |
| Deferred charges and accrued income | 490/1 | €4,608 | €5,194 | +€586 | +12.7% |
| Total equity and liabilities | 10/49 | €1,461,464 | €1,296,118 | -€165,345 | -11.3% |
| Equity | 10/15 | €1,303,029 | €1,162,137 | -€140,893 | -10.8% |
| Reserves | 13 | €1,303,029 | €1,162,137 | -€140,893 | -10.8% |
| Tax-exempt reserves | 132 | €18,500 | €18,500 | = | 0.0% |
| Distributable reserves | 133 | €1,284,529 | €1,143,637 | -€140,893 | -11.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €158,434 | €133,982 | -€24,452 | -15.4% |
| Amounts payable after more than one year | 17 | €86,189 | €55,860 | -€30,329 | -35.2% |
| Financial debts | 170/4 | €86,189 | €55,860 | -€30,329 | -35.2% |
| Amounts payable within one year | 42/48 | €72,245 | €78,122 | +€5,877 | +8.1% |
| Current portion of amounts payable after more than one year | 42 | €39,678 | €30,329 | -€9,349 | -23.6% |
| Trade debts | 44 | €23,645 | €46,212 | +€22,568 | +95.4% |
| Suppliers | 440/4 | €23,645 | €46,212 | +€22,568 | +95.4% |
| Taxes, remuneration and social security | 45 | €8,922 | €1,064 | -€7,859 | -88.1% |
| Taxes | 450/3 | €8,922 | €1,064 | -€7,859 | -88.1% |
| Other amounts payable | 47/48 | - | €517 | +€517 | |
| Non-recurring operating income | 76A | €12,750 | €15,000 | +€2,250 | +17.6% |
| Remuneration, social security and pensions | 62 | €3,916 | €412 | -€3,505 | -89.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,834 | €41,521 | +€2,687 | +6.9% |
| Other operating charges | 640/8 | €11,111 | €6,867 | -€4,244 | -38.2% |
| Gross operating margin | 9900 | €50,080 | €47,856 | -€2,224 | -4.4% |
| Operating profit (loss) | 9901 | -€3,781 | -€944 | +€2,837 | +75.0% |
| Financial income | 75/76B | €69 | €20 | -€49 | -70.5% |
| Recurring financial income | 75 | €69 | €20 | -€49 | -70.5% |
| Financial charges | 65/66B | €5,496 | €3,983 | -€1,512 | -27.5% |
| Recurring financial charges | 65 | €5,496 | €3,983 | -€1,512 | -27.5% |
| Profit (loss) for the period before taxes | 9903 | -€9,208 | -€4,907 | +€4,301 | +46.7% |
| Income taxes | 67/77 | €7 | -€15 | -€22 | |
| Profit (loss) for the period | 9904 | -€9,215 | -€4,893 | +€4,322 | +46.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€9,215 | -€4,893 | +€4,322 | +46.9% |
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 16 October 2026 via checked.be.