ALCA: 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.
ALCA
Largest movements
- Receivables within one year -€102,764
down €102,764 (-10.6%), from €971,914 to €869,150
of which Trade receivables: -€59,511
- Cash +€59,516
up €59,516 (+9.0%), from €660,491 to €720,008
mainly Receivables within one year (+€102,764) and Net result for the year (+€80,402)
- Tangible fixed assets -€26,576
down €26,576 (-13.7%), from €194,108 to €167,532
of which Other tangible fixed assets: -€32,756
- Stocks and contracts +€25,817
up €25,817 (+14.2%), from €182,124 to €207,941
- Other debts -€53,880
down €53,880 (-19.3%), from €279,719 to €225,839
- Debts after one year +€38,569
up €38,569 (+240.2%), from €16,057 to €54,626
of which Other amounts payable: +€43,113
- Trade debts -€33,836
down €33,836 (-4.8%), from €705,473 to €671,636
- Reserves +€20,402
up €20,402 (+2.2%), from €930,875 to €951,277
of which Distributable reserves: +€20,402
- Gross operating margin +€43,178
up €43,178 (+7.3%), from €590,617 to €633,795
- Other operating charges -€16,466
down €16,466 (-33.1%), from €49,721 to €33,255
- Staff costs +€8,889
up €8,889 (+2.8%), from €320,775 to €329,665
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 | €2,024,817 | €1,985,470 | -€39,346 | -1.9% |
| Fixed assets | 21/28 | €199,365 | €173,008 | -€26,357 | -13.2% |
| Tangible fixed assets | 22/27 | €194,108 | €167,532 | -€26,576 | -13.7% |
| Plant, machinery and equipment | 23 | €12,468 | €46,276 | +€33,808 | +271.2% |
| Furniture and vehicles | 24 | €60,005 | €32,377 | -€27,628 | -46.0% |
| Other tangible fixed assets | 26 | €121,635 | €88,879 | -€32,756 | -26.9% |
| Financial fixed assets | 28 | €5,257 | €5,476 | +€219 | +4.2% |
| Current assets | 29/58 | €1,825,452 | €1,812,462 | -€12,989 | -0.7% |
| Stocks and contracts in progress | 3 | €182,124 | €207,941 | +€25,817 | +14.2% |
| Stocks | 30/36 | €182,124 | €207,941 | +€25,817 | +14.2% |
| Amounts receivable within one year | 40/41 | €971,914 | €869,150 | -€102,764 | -10.6% |
| Trade receivables | 40 | €926,658 | €867,147 | -€59,511 | -6.4% |
| Other amounts receivable | 41 | €45,256 | €2,003 | -€43,253 | -95.6% |
| Current investments | 50/53 | - | €5,004 | +€5,004 | |
| Cash at bank and in hand | 54/58 | €660,491 | €720,008 | +€59,516 | +9.0% |
| Deferred charges and accrued income | 490/1 | €10,922 | €10,360 | -€562 | -5.1% |
| Total equity and liabilities | 10/49 | €2,024,817 | €1,985,470 | -€39,346 | -1.9% |
| Equity | 10/15 | €949,467 | €969,869 | +€20,402 | +2.1% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €930,875 | €951,277 | +€20,402 | +2.2% |
| Tax-exempt reserves | 132 | €56,250 | €56,250 | = | 0.0% |
| Distributable reserves | 133 | €874,625 | €895,027 | +€20,402 | +2.3% |
| Amounts payable | 17/49 | €1,075,349 | €1,015,601 | -€59,748 | -5.6% |
| Amounts payable after more than one year | 17 | €16,057 | €54,626 | +€38,569 | +240.2% |
| Financial debts | 170/4 | €6,453 | €1,909 | -€4,544 | -70.4% |
| Other amounts payable | 178/9 | €9,604 | €52,717 | +€43,113 | +448.9% |
| Amounts payable within one year | 42/48 | €1,059,292 | €960,975 | -€98,317 | -9.3% |
| Current portion of amounts payable after more than one year | 42 | €4,490 | €4,544 | +€53 | +1.2% |
| Trade debts | 44 | €705,473 | €671,636 | -€33,836 | -4.8% |
| Suppliers | 440/4 | €705,473 | €671,636 | -€33,836 | -4.8% |
| Taxes, remuneration and social security | 45 | €69,610 | €58,956 | -€10,654 | -15.3% |
| Taxes | 450/3 | €25,405 | €13,704 | -€11,701 | -46.1% |
| Remuneration and social security | 454/9 | €44,205 | €45,252 | +€1,047 | +2.4% |
| Other amounts payable | 47/48 | €279,719 | €225,839 | -€53,880 | -19.3% |
| Non-recurring operating income | 76A | €18,639 | €37,809 | +€19,169 | +102.8% |
| Remuneration, social security and pensions | 62 | €320,775 | €329,665 | +€8,889 | +2.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €64,960 | €63,121 | -€1,839 | -2.8% |
| Other operating charges | 640/8 | €49,721 | €33,255 | -€16,466 | -33.1% |
| Non-recurring operating charges | 66A | €26,611 | €77,891 | +€51,279 | +192.7% |
| Gross operating margin | 9900 | €590,617 | €633,795 | +€43,178 | +7.3% |
| Operating profit (loss) | 9901 | €128,549 | €129,863 | +€1,314 | +1.0% |
| Financial income | 75/76B | €375 | €186 | -€188 | -50.2% |
| Recurring financial income | 75 | €375 | €186 | -€188 | -50.2% |
| Financial charges | 65/66B | €19,335 | €16,108 | -€3,226 | -16.7% |
| Recurring financial charges | 65 | €19,335 | €16,108 | -€3,226 | -16.7% |
| Profit (loss) for the period before taxes | 9903 | €109,589 | €113,941 | +€4,352 | +4.0% |
| Income taxes | 67/77 | €35,438 | €33,539 | -€1,899 | -5.4% |
| Profit (loss) for the period | 9904 | €74,151 | €80,402 | +€6,251 | +8.4% |
| Profit (loss) for the period to be appropriated | 9905 | €74,151 | €80,402 | +€6,251 | +8.4% |
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 12 October 2026 via checked.be.