ALBORA: 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.
ALBORA
Largest movements
- Cash +€82,914
up €82,914 (+44.1%), from €188,076 to €270,990
mainly Trade debts (+€88,133) and Depreciation (+€39,551)
- Receivables within one year +€27,208
up €27,208 (+231.1%), from €11,772 to €38,980
of which Trade receivables: +€18,146
- Tangible fixed assets -€9,605
down €9,605 (-2.0%), from €473,650 to €464,044
of which Land and buildings: -€36,881
- Trade debts +€88,133
up €88,133 (+384.7%), from €22,910 to €111,043
- Reserves +€38,469
up €38,469 (+16.2%), from €237,837 to €276,306
of which Distributable reserves: +€46,696
- Other debts +€23,108
up €23,108 (+42.1%), from €54,852 to €77,960
- Profit (loss) carried forward -€21,761
down €21,761 (-100.0%), from €21,761 to €0
- Debts after one year -€13,591
down €13,591 (-5.5%), from €249,099 to €235,508
- Gross operating margin +€19,586
up €19,586 (+7.7%), from €256,019 to €275,604
- Financial charges +€9,693
up €9,693 (+138.7%), from €6,989 to €16,682
- Staff costs +€6,961
up €6,961 (+3.9%), from €179,081 to €186,042
- Depreciation -€4,688
down €4,688 (-10.6%), from €44,239 to €39,551
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 | €737,639 | €842,150 | +€104,512 | +14.2% |
| Fixed assets | 21/28 | €477,480 | €467,875 | -€9,605 | -2.0% |
| Tangible fixed assets | 22/27 | €473,650 | €464,044 | -€9,605 | -2.0% |
| Land and buildings | 22 | €459,711 | €422,830 | -€36,881 | -8.0% |
| Plant, machinery and equipment | 23 | €1,641 | €2,971 | +€1,330 | +81.0% |
| Furniture and vehicles | 24 | €12,298 | €38,243 | +€25,945 | +211.0% |
| Financial fixed assets | 28 | €3,831 | €3,831 | = | 0.0% |
| Current assets | 29/58 | €260,158 | €374,275 | +€114,117 | +43.9% |
| Stocks and contracts in progress | 3 | €60,310 | €61,443 | +€1,133 | +1.9% |
| Stocks | 30/36 | €60,310 | €61,443 | +€1,133 | +1.9% |
| Amounts receivable within one year | 40/41 | €11,772 | €38,980 | +€27,208 | +231.1% |
| Trade receivables | 40 | €1,415 | €19,562 | +€18,146 | +1282.1% |
| Other amounts receivable | 41 | €10,356 | €19,418 | +€9,062 | +87.5% |
| Current investments | 50/53 | - | €2,761 | +€2,761 | |
| Cash at bank and in hand | 54/58 | €188,076 | €270,990 | +€82,914 | +44.1% |
| Deferred charges and accrued income | 490/1 | - | €101 | +€101 | |
| Total equity and liabilities | 10/49 | €737,639 | €842,150 | +€104,512 | +14.2% |
| Equity | 10/15 | €265,798 | €282,506 | +€16,708 | +6.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €237,837 | €276,306 | +€38,469 | +16.2% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €110,204 | €101,978 | -€8,227 | -7.5% |
| Distributable reserves | 133 | €125,773 | €172,468 | +€46,696 | +37.1% |
| Profit (loss) carried forward | 14 | €21,761 | €0 | -€21,761 | -100.0% |
| Provisions and deferred taxes | 16 | €36,735 | €33,993 | -€2,742 | -7.5% |
| Deferred taxes | 168 | €36,735 | €33,993 | -€2,742 | -7.5% |
| Amounts payable | 17/49 | €435,106 | €525,652 | +€90,545 | +20.8% |
| Amounts payable after more than one year | 17 | €249,099 | €235,508 | -€13,591 | -5.5% |
| Financial debts | 170/4 | €249,099 | €235,508 | -€13,591 | -5.5% |
| Amounts payable within one year | 42/48 | €186,007 | €290,144 | +€104,136 | +56.0% |
| Current portion of amounts payable after more than one year | 42 | €52,634 | €50,391 | -€2,243 | -4.3% |
| Trade debts | 44 | €22,910 | €111,043 | +€88,133 | +384.7% |
| Suppliers | 440/4 | €22,910 | €111,043 | +€88,133 | +384.7% |
| Taxes, remuneration and social security | 45 | €55,612 | €50,750 | -€4,861 | -8.7% |
| Taxes | 450/3 | €26,123 | €17,371 | -€8,752 | -33.5% |
| Remuneration and social security | 454/9 | €29,488 | €33,379 | +€3,891 | +13.2% |
| Other amounts payable | 47/48 | €54,852 | €77,960 | +€23,108 | +42.1% |
| Remuneration, social security and pensions | 62 | €179,081 | €186,042 | +€6,961 | +3.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,239 | €39,551 | -€4,688 | -10.6% |
| Other operating charges | 640/8 | €6,876 | €8,762 | +€1,886 | +27.4% |
| Non-recurring operating charges | 66A | - | €1,664 | +€1,664 | |
| Gross operating margin | 9900 | €256,019 | €275,604 | +€19,586 | +7.7% |
| Operating profit (loss) | 9901 | €25,823 | €39,586 | +€13,763 | +53.3% |
| Financial income | 75/76B | €34 | €70 | +€36 | +104.5% |
| Recurring financial income | 75 | €34 | €70 | +€36 | +104.5% |
| Financial charges | 65/66B | €6,989 | €16,682 | +€9,693 | +138.7% |
| Recurring financial charges | 65 | €6,989 | €16,682 | +€9,693 | +138.7% |
| Profit (loss) for the period before taxes | 9903 | €18,868 | €22,974 | +€4,106 | +21.8% |
| Transfer from deferred taxes | 780 | €2,742 | €2,742 | = | 0.0% |
| Income taxes | 67/77 | €10,135 | €9,008 | -€1,127 | -11.1% |
| Profit (loss) for the period | 9904 | €11,475 | €16,708 | +€5,234 | +45.6% |
| Transfer from tax-exempt reserves | 789 | €8,227 | €8,227 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €19,701 | €24,935 | +€5,234 | +26.6% |
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 8 October 2026 via checked.be.