ALCAN MANAGEMENT: 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.
ALCAN MANAGEMENT
Largest movements
- Cash -€46,654
down €46,654 (-42.3%), from €110,233 to €63,579
mainly Contributions, distributions and other (-€194,000) and Other debts (-€42,157)
- Receivables within one year +€20,700
up €20,700 (+79.8%), from €25,949 to €46,649
of which Other amounts receivable: +€24,900
- Other debts -€42,157
no longer reported in 2025 (was €42,157)
- Reserves -€40,000
no longer reported in 2025 (was €40,000)
- Profit (loss) carried forward +€29,085
new in 2025: €29,085
- Tax, wage and social debts +€25,996
up €25,996 (+68.8%), from €37,808 to €63,804
of which Taxes: +€25,993
- Gross operating margin +€36,363
up €36,363 (+17.6%), from €207,161 to €243,524
- Taxes +€8,659
up €8,659 (+17.9%), from €48,276 to €56,935
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 | €140,694 | €113,353 | -€27,341 | -19.4% |
| Fixed assets | 21/28 | €4,512 | €3,125 | -€1,387 | -30.7% |
| Tangible fixed assets | 22/27 | €4,512 | €3,125 | -€1,387 | -30.7% |
| Plant, machinery and equipment | 23 | - | €0 | = | |
| Furniture and vehicles | 24 | €4,512 | €3,125 | -€1,387 | -30.7% |
| Current assets | 29/58 | €136,182 | €110,228 | -€25,954 | -19.1% |
| Amounts receivable within one year | 40/41 | €25,949 | €46,649 | +€20,700 | +79.8% |
| Trade receivables | 40 | €24,200 | €20,000 | -€4,200 | -17.4% |
| Other amounts receivable | 41 | €1,749 | €26,649 | +€24,900 | +1,424% |
| Cash at bank and in hand | 54/58 | €110,233 | €63,579 | -€46,654 | -42.3% |
| Total equity and liabilities | 10/49 | €140,694 | €113,353 | -€27,341 | -19.4% |
| Equity | 10/15 | €58,600 | €47,685 | -€10,915 | -18.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €40,000 | - | -€40,000 | |
| Distributable reserves | 133 | €40,000 | - | -€40,000 | |
| Profit (loss) carried forward | 14 | - | €29,085 | +€29,085 | |
| Amounts payable | 17/49 | €82,094 | €65,669 | -€16,425 | -20.0% |
| Amounts payable within one year | 42/48 | €82,094 | €65,669 | -€16,425 | -20.0% |
| Trade debts | 44 | €2,129 | €1,865 | -€264 | -12.4% |
| Suppliers | 440/4 | €2,129 | €1,865 | -€264 | -12.4% |
| Taxes, remuneration and social security | 45 | €37,808 | €63,804 | +€25,996 | +68.8% |
| Taxes | 450/3 | €37,808 | €63,801 | +€25,993 | +68.7% |
| Remuneration and social security | 454/9 | - | €3 | +€3 | |
| Other amounts payable | 47/48 | €42,157 | - | -€42,157 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,620 | €2,505 | +€885 | +54.6% |
| Other operating charges | 640/8 | €781 | €502 | -€279 | -35.8% |
| Gross operating margin | 9900 | €207,161 | €243,524 | +€36,363 | +17.6% |
| Operating profit (loss) | 9901 | €204,760 | €240,517 | +€35,757 | +17.5% |
| Financial income | 75/76B | €81 | €244 | +€163 | +201% |
| Recurring financial income | 75 | €81 | €244 | +€163 | +201% |
| Financial charges | 65/66B | €520 | €741 | +€221 | +42.6% |
| Recurring financial charges | 65 | €520 | €741 | +€221 | +42.6% |
| Profit (loss) for the period before taxes | 9903 | €204,321 | €240,020 | +€35,699 | +17.5% |
| Income taxes | 67/77 | €48,276 | €56,935 | +€8,659 | +17.9% |
| Profit (loss) for the period | 9904 | €156,045 | €183,085 | +€27,040 | +17.3% |
| Profit (loss) for the period to be appropriated | 9905 | €156,045 | €183,085 | +€27,040 | +17.3% |
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 30 October 2026 via checked.be.