ALCATAN: 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.
What changed
ALCATAN
NACE 64.210, Activities of holding companies
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€175,177
2024 · -€60,166+€235,344
Equity
€2.6m
2024 · €4.2m-€1.6m
Cash
€13,929
2024 · €52,516-€38,587
Balance sheet total
€8.6m
2024 · €9.4m-€824,972
Largest movements
Assets
- Financial fixed assets -€881,142
down €881,142 (-44.3%), from €2.0m to €1.1m
Equity and liabilities
- Short-term financial debts -€1.1m
down €1.1m (-98.7%), from €1.1m to €15,123
- Debts after one year +€986,279
up €986,279 (+45.0%), from €2.2m to €3.2m
of which Financial debts: +€986,659
- Reserves -€957,147
down €957,147 (-38.1%), from €2.5m to €1.6m
of which Distributable reserves: -€970,413
- Other debts +€718,202
up €718,202 (+59.8%), from €1.2m to €1.9m
- Revaluation surpluses -€500,000
down €500,000 (-33.3%), from €1.5m to €1.0m
Income statement
- Financial income -€540,378
down €540,378 (-65.2%), from €829,374 to €288,996
of which Non-recurring financial income: -€824,009
- Financial charges -€427,392
down €427,392 (-59.5%), from €717,851 to €290,459
of which Financial charges: -€427,392
- Gross operating margin +€214,456
up €214,456 (+86.7%), from €247,354 to €461,810
- Depreciation +€43,366
up €43,366 (+21.0%), from €206,165 to €249,531
- Other operating charges -€7,841
down €7,841 (-31.0%), from €25,265 to €17,424
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.
Result 2024
-€60,166
Gross operating margin
+€214,456
Depreciation
-€43,366
Other operating charges
+€7,841
Other operating items
-€20,241
Financial income
-€540,378
Financial charges
+€427,392
Taxes
+€354
Deferred taxes and other
+€189,286
Result 2025
€175,177
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.
From operations
+€1.2m
Investment
+€624,926
Financing
-€1.9m
Cash 2024
€52,516
From operations (derived)
+€1.2m
Net result for the year
+€175,177
Depreciation
+€249,531
Receivables after one year
-€88,397
Smaller working-capital items
+€3,249
Provisions
+€212,900
Trade debts
-€57,899
Other debts
+€718,202
Accrued charges and deferred income
-€24,224
Investment (derived)
+€624,926
Investment in fixed assets (net)
+€624,926
Financing
-€1.9m
Debts after one year
+€986,279
Current portion of long-term debt
+€54,014
Short-term financial debts
-€1.1m
Contributions, distributions and other
-€1.8m
Cash 2025
€13,929
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €9,407,963 | €8,582,991 | -€824,972 | -8.8% |
| Fixed assets | 21/28 | €9,056,903 | €8,182,445 | -€874,457 | -9.7% |
| Tangible fixed assets | 22/27 | €7,067,200 | €7,073,885 | +€6,685 | +0.1% |
| Land and buildings | 22 | €6,678,982 | €6,670,707 | -€8,275 | -0.1% |
| Plant, machinery and equipment | 23 | €2,135 | €4,652 | +€2,517 | +117.9% |
| Furniture and vehicles | 24 | €386,084 | €398,526 | +€12,442 | +3.2% |
| Assets under construction and advance payments | 27 | €0 | - | = | |
| Financial fixed assets | 28 | €1,989,702 | €1,108,560 | -€881,142 | -44.3% |
| Current assets | 29/58 | €351,060 | €400,546 | +€49,486 | +14.1% |
| Amounts receivable after more than one year | 29 | €155,381 | €243,778 | +€88,397 | +56.9% |
| Other amounts receivable | 291 | €155,381 | €243,778 | +€88,397 | +56.9% |
| Amounts receivable within one year | 40/41 | €134,350 | €135,441 | +€1,091 | +0.8% |
| Trade receivables | 40 | €60,000 | €40,935 | -€19,065 | -31.8% |
| Other amounts receivable | 41 | €74,350 | €94,506 | +€20,155 | +27.1% |
| Cash at bank and in hand | 54/58 | €52,516 | €13,929 | -€38,587 | -73.5% |
| Deferred charges and accrued income | 490/1 | €8,813 | €7,398 | -€1,415 | -16.1% |
| Total equity and liabilities | 10/49 | €9,407,963 | €8,582,991 | -€824,972 | -8.8% |
| Equity | 10/15 | €4,158,683 | €2,560,997 | -€1.6m | -38.4% |
| Contributions | 10/11 | €312,450 | €10,000 | -€302,450 | -96.8% |
| Revaluation surpluses | 12 | €1,500,000 | €1,000,000 | -€500,000 | -33.3% |
| Reserves | 13 | €2,511,919 | €1,554,772 | -€957,147 | -38.1% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €1,307,802 | €1,321,068 | +€13,266 | +1.0% |
| Distributable reserves | 133 | €1,204,117 | €233,704 | -€970,413 | -80.6% |
| Profit (loss) carried forward | 14 | -€165,687 | -€3,775 | +€161,912 | +97.7% |
| Provisions and deferred taxes | 16 | €435,934 | €648,834 | +€212,900 | +48.8% |
| Deferred taxes | 168 | €435,934 | €648,834 | +€212,900 | +48.8% |
| Amounts payable | 17/49 | €4,813,346 | €5,373,160 | +€559,814 | +11.6% |
| Amounts payable after more than one year | 17 | €2,191,304 | €3,177,583 | +€986,279 | +45.0% |
| Financial debts | 170/4 | €2,171,680 | €3,158,339 | +€986,659 | +45.4% |
| Other amounts payable | 178/9 | €19,624 | €19,244 | -€380 | -1.9% |
| Amounts payable within one year | 42/48 | €2,597,818 | €2,195,577 | -€402,241 | -15.5% |
| Current portion of amounts payable after more than one year | 42 | €169,510 | €223,524 | +€54,014 | +31.9% |
| Financial debts | 43 | €1,134,606 | €15,123 | -€1.1m | -98.7% |
| Credit institutions | 430/8 | €1,134,606 | €15,123 | -€1.1m | -98.7% |
| Trade debts | 44 | €78,935 | €21,036 | -€57,899 | -73.4% |
| Suppliers | 440/4 | €78,935 | €21,036 | -€57,899 | -73.4% |
| Taxes, remuneration and social security | 45 | €13,153 | €16,078 | +€2,925 | +22.2% |
| Taxes | 450/3 | €11,030 | €16,078 | +€5,048 | +45.8% |
| Remuneration and social security | 454/9 | €2,123 | €0 | -€2,123 | -100.0% |
| Other amounts payable | 47/48 | €1,201,614 | €1,919,816 | +€718,202 | +59.8% |
| Accrued charges and deferred income | 492/3 | €24,224 | €0 | -€24,224 | -100.0% |
| Non-recurring operating income | 76A | €0 | €118,844 | +€118,844 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €206,165 | €249,531 | +€43,366 | +21.0% |
| Other operating charges | 640/8 | €25,265 | €17,424 | -€7,841 | -31.0% |
| Non-recurring operating charges | 66A | - | €20,241 | +€20,241 | |
| Gross operating margin | 9900 | €247,354 | €461,810 | +€214,456 | +86.7% |
| Operating profit (loss) | 9901 | €15,924 | €174,614 | +€158,690 | +996.5% |
| Financial income | 75/76B | €829,374 | €288,996 | -€540,378 | -65.2% |
| Recurring financial income | 75 | €5,365 | €288,996 | +€283,631 | +5286.7% |
| Non-recurring financial income | 76B | €824,009 | €0 | -€824,009 | -100.0% |
| Financial charges | 65/66B | €717,851 | €290,459 | -€427,392 | -59.5% |
| Recurring financial charges | 65 | €717,851 | €290,459 | -€427,392 | -59.5% |
| Non-recurring financial charges | 66B | €0 | - | = | |
| Profit (loss) for the period before taxes | 9903 | €127,447 | €173,151 | +€45,704 | +35.9% |
| Transfer from deferred taxes | 780 | €18,742 | €25,836 | +€7,094 | +37.8% |
| Transfer to deferred taxes | 680 | €206,002 | €23,810 | -€182,192 | -88.4% |
| Income taxes | 67/77 | €354 | €0 | -€354 | -100.0% |
| Profit (loss) for the period | 9904 | -€60,166 | €175,177 | +€235,344 | |
| Transfer from tax-exempt reserves | 789 | €56,227 | €58,164 | +€1,938 | +3.4% |
| Transfer to tax-exempt reserves | 689 | €618,007 | €71,430 | -€546,577 | -88.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€621,947 | €161,912 | +€783,858 |
Source: filed annual accounts (NBB), financial years ended 31 July 2024 and 31 July 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.