ALCARO: 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.
ALCARO
Largest movements
- Cash +€29,015
up €29,015 (+25.4%), from €114,167 to €143,182
mainly Depreciation (+€43,353) and Deferred charges and accrued income (+€2,474)
- Tangible fixed assets -€28,888
down €28,888 (-10.3%), from €280,847 to €251,959
of which Furniture and vehicles: -€20,935
- Receivables within one year +€4,174
up €4,174 (+43.1%), from €9,683 to €13,857
of which Other amounts receivable: +€2,839
No liability line moved by more than 1% of the balance sheet total.
- Gross operating margin +€18,338
up €18,338 (+65.5%), from €27,977 to €46,315
- Other operating charges -€1,816
down €1,816 (-43.3%), from €4,191 to €2,374
- Financial income +€926
up €926 (+307.4%), from €301 to €1,227
- Depreciation +€883
up €883 (+2.1%), from €42,471 to €43,353
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 | €407,923 | €409,749 | +€1,826 | +0.4% |
| Fixed assets | 21/28 | €280,847 | €251,959 | -€28,888 | -10.3% |
| Tangible fixed assets | 22/27 | €280,847 | €251,959 | -€28,888 | -10.3% |
| Land and buildings | 22 | €245,356 | €236,798 | -€8,558 | -3.5% |
| Plant, machinery and equipment | 23 | €231 | €835 | +€604 | +261.5% |
| Furniture and vehicles | 24 | €35,260 | €14,326 | -€20,935 | -59.4% |
| Current assets | 29/58 | €127,076 | €157,790 | +€30,714 | +24.2% |
| Amounts receivable within one year | 40/41 | €9,683 | €13,857 | +€4,174 | +43.1% |
| Trade receivables | 40 | €638 | €1,973 | +€1,335 | +209.3% |
| Other amounts receivable | 41 | €9,045 | €11,884 | +€2,839 | +31.4% |
| Cash at bank and in hand | 54/58 | €114,167 | €143,182 | +€29,015 | +25.4% |
| Deferred charges and accrued income | 490/1 | €3,227 | €752 | -€2,474 | -76.7% |
| Total equity and liabilities | 10/49 | €407,923 | €409,749 | +€1,826 | +0.4% |
| Equity | 10/15 | €404,635 | €406,230 | +€1,595 | +0.4% |
| Contributions | 10/11 | €420,000 | €420,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€15,365 | -€13,770 | +€1,595 | +10.4% |
| Amounts payable | 17/49 | €3,288 | €3,519 | +€231 | +7.0% |
| Amounts payable within one year | 42/48 | €2,038 | €2,238 | +€200 | +9.8% |
| Trade debts | 44 | €2,038 | €2,238 | +€200 | +9.8% |
| Suppliers | 440/4 | €2,038 | €2,238 | +€200 | +9.8% |
| Accrued charges and deferred income | 492/3 | €1,250 | €1,281 | +€31 | +2.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,471 | €43,353 | +€883 | +2.1% |
| Other operating charges | 640/8 | €4,191 | €2,374 | -€1,816 | -43.3% |
| Gross operating margin | 9900 | €27,977 | €46,315 | +€18,338 | +65.5% |
| Operating profit (loss) | 9901 | -€18,685 | €587 | +€19,272 | |
| Financial income | 75/76B | €301 | €1,227 | +€926 | +307.4% |
| Recurring financial income | 75 | €301 | €1,227 | +€926 | +307.4% |
| Financial charges | 65/66B | €53 | €54 | +€2 | +2.9% |
| Recurring financial charges | 65 | €53 | €54 | +€2 | +2.9% |
| Profit (loss) for the period before taxes | 9903 | -€18,436 | €1,760 | +€20,196 | |
| Income taxes | 67/77 | €178 | €166 | -€12 | -6.9% |
| Profit (loss) for the period | 9904 | -€18,614 | €1,595 | +€20,209 | |
| Profit (loss) for the period to be appropriated | 9905 | -€18,614 | €1,595 | +€20,209 |
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 10 October 2026 via checked.be.