ALCARGYN: 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.
ALCARGYN
Largest movements
- Current investments +€90,000
new in 2025: €90,000
- Cash -€25,506
down €25,506 (-26.9%), from €94,910 to €69,404
mainly Contributions, distributions and other (-€131,800) and Current investments (-€90,000)
- Deferred charges and accrued income +€21,266
up €21,266 (+183.4%), from €11,597 to €32,863
- Intangible fixed assets -€6,000
down €6,000 (-13.3%), from €44,975 to €38,975
- Receivables within one year +€4,722
up €4,722 (+15.8%), from €29,866 to €34,587
- Other debts +€135,515
up €135,515 (+734.4%), from €18,452 to €153,967
- Reserves -€39,039
down €39,039 (-25.7%), from €152,023 to €112,984
- Debts after one year -€14,121
down €14,121 (-35.1%), from €40,272 to €26,152
- Profit (loss) carried forward +€5,213
no longer reported in 2025 (was -€5,213)
- Gross operating margin +€132,112
up €132,112 (+572.5%), from €23,078 to €155,190
- Taxes +€25,144
up €25,144 (+18695.8%), from €134 to €25,278
- Depreciation +€4,099
up €4,099 (+17.5%), from €23,384 to €27,482
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 | €244,567 | €330,926 | +€86,359 | +35.3% |
| Fixed assets | 21/28 | €108,195 | €104,072 | -€4,123 | -3.8% |
| Intangible fixed assets | 21 | €44,975 | €38,975 | -€6,000 | -13.3% |
| Tangible fixed assets | 22/27 | €63,219 | €65,096 | +€1,877 | +3.0% |
| Plant, machinery and equipment | 23 | €48,049 | €54,236 | +€6,187 | +12.9% |
| Furniture and vehicles | 24 | €15,171 | €10,861 | -€4,310 | -28.4% |
| Current assets | 29/58 | €136,373 | €226,854 | +€90,482 | +66.3% |
| Amounts receivable within one year | 40/41 | €29,866 | €34,587 | +€4,722 | +15.8% |
| Other amounts receivable | 41 | €29,866 | €34,587 | +€4,722 | +15.8% |
| Current investments | 50/53 | - | €90,000 | +€90,000 | |
| Cash at bank and in hand | 54/58 | €94,910 | €69,404 | -€25,506 | -26.9% |
| Deferred charges and accrued income | 490/1 | €11,597 | €32,863 | +€21,266 | +183.4% |
| Total equity and liabilities | 10/49 | €244,567 | €330,926 | +€86,359 | +35.3% |
| Equity | 10/15 | €151,810 | €117,984 | -€33,826 | -22.3% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €152,023 | €112,984 | -€39,039 | -25.7% |
| Distributable reserves | 133 | €152,023 | €112,984 | -€39,039 | -25.7% |
| Profit (loss) carried forward | 14 | -€5,213 | - | +€5,213 | |
| Amounts payable | 17/49 | €92,757 | €212,942 | +€120,185 | +129.6% |
| Amounts payable after more than one year | 17 | €40,272 | €26,152 | -€14,121 | -35.1% |
| Financial debts | 170/4 | €40,272 | €26,152 | -€14,121 | -35.1% |
| Amounts payable within one year | 42/48 | €52,485 | €186,790 | +€134,306 | +255.9% |
| Current portion of amounts payable after more than one year | 42 | €23,692 | €24,230 | +€538 | +2.3% |
| Trade debts | 44 | €10,341 | €7,093 | -€3,248 | -31.4% |
| Suppliers | 440/4 | €10,341 | €7,093 | -€3,248 | -31.4% |
| Taxes, remuneration and social security | 45 | - | €1,500 | +€1,500 | |
| Taxes | 450/3 | - | €1,500 | +€1,500 | |
| Other amounts payable | 47/48 | €18,452 | €153,967 | +€135,515 | +734.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,384 | €27,482 | +€4,099 | +17.5% |
| Other operating charges | 640/8 | €295 | €525 | +€230 | +78.0% |
| Gross operating margin | 9900 | €23,078 | €155,190 | +€132,112 | +572.5% |
| Operating profit (loss) | 9901 | -€601 | €127,182 | +€127,783 | |
| Financial income | 75/76B | €1 | €1 | +€0 | +20.0% |
| Recurring financial income | 75 | €1 | €1 | +€0 | +20.0% |
| Financial charges | 65/66B | €4,478 | €3,930 | -€548 | -12.2% |
| Recurring financial charges | 65 | €4,478 | €3,930 | -€548 | -12.2% |
| Profit (loss) for the period before taxes | 9903 | -€5,078 | €123,252 | +€128,331 | |
| Income taxes | 67/77 | €134 | €25,278 | +€25,144 | +18695.8% |
| Profit (loss) for the period | 9904 | -€5,213 | €97,974 | +€103,187 | |
| Profit (loss) for the period to be appropriated | 9905 | -€5,213 | €97,974 | +€103,187 |
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 3 October 2026 via checked.be.