ALCASTAR: 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.
ALCASTAR
Largest movements
- Financial fixed assets +€3.9m
up €3.9m (+102.3%), from €3.8m to €7.7m
- Current investments -€2.9m
down €2.9m (-51.7%), from €5.6m to €2.7m
- Cash +€197,420
up €197,420 (+98.2%), from €201,017 to €398,436
mainly Current investments (+€2.9m) and Other debts (+€768,193)
- Receivables within one year -€191,220
down €191,220 (-63.4%), from €301,720 to €110,500
- Other debts +€768,193
up €768,193 (+32.3%), from €2.4m to €3.1m
- Reserves +€348,441
up €348,441 (+7.6%), from €4.6m to €4.9m
of which Distributable reserves: +€348,441
- Financial income -€857,706
down €857,706 (-44.4%), from €1.9m to €1.1m
of which Non-recurring financial income: -€1.8m
- Write-downs +€265,743
new in 2025: €265,743
- Taxes -€120,638
down €120,638 (-77.6%), from €155,483 to €34,844
- Financial charges -€17,353
down €17,353, from €5,035 to -€12,317
- Other operating charges -€4,019
down €4,019 (-37.2%), from €10,793 to €6,774
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 | €11,956,995 | €13,058,280 | +€1.1m | +9.2% |
| Fixed assets | 21/28 | €3,810,685 | €7,709,351 | +€3.9m | +102.3% |
| Financial fixed assets | 28 | €3,810,685 | €7,709,351 | +€3.9m | +102.3% |
| Current assets | 29/58 | €8,146,310 | €5,348,929 | -€2.8m | -34.3% |
| Amounts receivable after more than one year | 29 | €1,981,826 | €2,015,126 | +€33,300 | +1.7% |
| Other amounts receivable | 291 | €1,981,826 | €2,015,126 | +€33,300 | +1.7% |
| Amounts receivable within one year | 40/41 | €301,720 | €110,500 | -€191,220 | -63.4% |
| Other amounts receivable | 41 | €301,720 | €110,500 | -€191,220 | -63.4% |
| Current investments | 50/53 | €5,603,202 | €2,708,333 | -€2.9m | -51.7% |
| Cash at bank and in hand | 54/58 | €201,017 | €398,436 | +€197,420 | +98.2% |
| Deferred charges and accrued income | 490/1 | €58,546 | €116,534 | +€57,988 | +99.0% |
| Total equity and liabilities | 10/49 | €11,956,995 | €13,058,280 | +€1.1m | +9.2% |
| Equity | 10/15 | €9,384,263 | €9,732,705 | +€348,441 | +3.7% |
| Contributions | 10/11 | €2,976,285 | €2,976,285 | = | 0.0% |
| Reserves | 13 | €4,570,985 | €4,919,426 | +€348,441 | +7.6% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €4,570,985 | €4,919,426 | +€348,441 | +7.6% |
| Profit (loss) carried forward | 14 | €1,836,993 | €1,836,993 | = | 0.0% |
| Amounts payable | 17/49 | €2,572,731 | €3,325,575 | +€752,844 | +29.3% |
| Amounts payable within one year | 42/48 | €2,572,731 | €3,323,492 | +€750,761 | +29.2% |
| Trade debts | 44 | €44,906 | €2,656 | -€42,251 | -94.1% |
| Suppliers | 440/4 | €44,906 | €2,656 | -€42,251 | -94.1% |
| Taxes, remuneration and social security | 45 | €150,779 | €175,597 | +€24,819 | +16.5% |
| Taxes | 450/3 | €150,779 | €175,597 | +€24,819 | +16.5% |
| Other amounts payable | 47/48 | €2,377,046 | €3,145,239 | +€768,193 | +32.3% |
| Accrued charges and deferred income | 492/3 | - | €2,083 | +€2,083 | |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €265,743 | +€265,743 | |
| Other operating charges | 640/8 | €10,793 | €6,774 | -€4,019 | -37.2% |
| Non-recurring operating charges | 66A | - | €227,751 | +€227,751 | |
| Gross operating margin | 9900 | -€205,791 | -€202,985 | +€2,806 | +1.4% |
| Operating profit (loss) | 9901 | -€216,584 | -€703,253 | -€486,669 | -224.7% |
| Financial income | 75/76B | €1,931,927 | €1,074,221 | -€857,706 | -44.4% |
| Recurring financial income | 75 | €165,332 | €1,074,221 | +€908,889 | +549.7% |
| Non-recurring financial income | 76B | €1,766,595 | €0 | -€1.8m | -100.0% |
| Financial charges | 65/66B | €5,035 | -€12,317 | -€17,353 | |
| Recurring financial charges | 65 | €5,035 | -€12,317 | -€17,353 | |
| Profit (loss) for the period before taxes | 9903 | €1,710,308 | €383,285 | -€1.3m | -77.6% |
| Income taxes | 67/77 | €155,483 | €34,844 | -€120,638 | -77.6% |
| Profit (loss) for the period | 9904 | €1,554,826 | €348,441 | -€1.2m | -77.6% |
| Profit (loss) for the period to be appropriated | 9905 | €1,554,826 | €348,441 | -€1.2m | -77.6% |
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.