ALCO: 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.
ALCO
Largest movements
- Stocks and contracts +€57,214
up €57,214 (+988.9%), from €5,786 to €63,000
- Receivables within one year -€48,217
no longer reported in 2025 (was €48,217)
of which Trade receivables: -€40,667
- Cash +€22,015
up €22,015 (+4516.3%), from €487 to €22,502
mainly Receivables within one year (+€48,217) and Trade debts (+€21,529)
- Trade debts +€21,529
up €21,529 (+3769.7%), from €571 to €22,100
- Tax, wage and social debts +€6,799
up €6,799 (+95.0%), from €7,158 to €13,957
of which Taxes: +€5,020
- Other debts +€2,000
new in 2025: €2,000
- Gross operating margin +€7,200
up €7,200 (+37.8%), from €19,073 to €26,273
- Staff costs +€4,727
up €4,727 (+26.5%), from €17,812 to €22,539
- Other operating charges +€1,775
up €1,775 (+458.2%), from €387 to €2,162
- Taxes +€813
new in 2025: €813
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 | €55,673 | €86,056 | +€30,383 | +54.6% |
| Fixed assets | 21/28 | €1,182 | €553 | -€629 | -53.2% |
| Tangible fixed assets | 22/27 | €1,049 | €419 | -€629 | -60.0% |
| Plant, machinery and equipment | 23 | €1,049 | €419 | -€629 | -60.0% |
| Financial fixed assets | 28 | €134 | €134 | = | 0.0% |
| Current assets | 29/58 | €54,490 | €85,502 | +€31,012 | +56.9% |
| Stocks and contracts in progress | 3 | €5,786 | €63,000 | +€57,214 | +988.9% |
| Stocks | 30/36 | €5,786 | €63,000 | +€57,214 | +988.9% |
| Amounts receivable within one year | 40/41 | €48,217 | - | -€48,217 | |
| Trade receivables | 40 | €40,667 | - | -€40,667 | |
| Other amounts receivable | 41 | €7,550 | - | -€7,550 | |
| Cash at bank and in hand | 54/58 | €487 | €22,502 | +€22,015 | +4516.3% |
| Total equity and liabilities | 10/49 | €55,673 | €86,056 | +€30,383 | +54.6% |
| Equity | 10/15 | €47,943 | €47,998 | +€55 | +0.1% |
| Contributions | 10/11 | €6,592 | €6,592 | = | 0.0% |
| Outside capital | 11 | €6,592 | €6,592 | = | 0.0% |
| Share premium | 1100/10 | €6,592 | - | -€6,592 | |
| Other | 1109/19 | - | €6,592 | +€6,592 | |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | - | €1,860 | +€1,860 | |
| Profit (loss) carried forward | 14 | €39,491 | €39,546 | +€55 | +0.1% |
| Amounts payable | 17/49 | €7,729 | €38,057 | +€30,328 | +392.4% |
| Amounts payable within one year | 42/48 | €7,729 | €38,057 | +€30,328 | +392.4% |
| Trade debts | 44 | €571 | €22,100 | +€21,529 | +3769.7% |
| Suppliers | 440/4 | €571 | €22,100 | +€21,529 | +3769.7% |
| Taxes, remuneration and social security | 45 | €7,158 | €13,957 | +€6,799 | +95.0% |
| Taxes | 450/3 | €7,158 | €12,179 | +€5,020 | +70.1% |
| Remuneration and social security | 454/9 | - | €1,778 | +€1,778 | |
| Other amounts payable | 47/48 | - | €2,000 | +€2,000 | |
| Remuneration, social security and pensions | 62 | €17,812 | €22,539 | +€4,727 | +26.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €629 | €629 | = | 0.0% |
| Other operating charges | 640/8 | €387 | €2,162 | +€1,775 | +458.2% |
| Gross operating margin | 9900 | €19,073 | €26,273 | +€7,200 | +37.8% |
| Operating profit (loss) | 9901 | €245 | €943 | +€698 | +285.3% |
| Financial charges | 65/66B | €0 | €75 | +€75 | +19636.8% |
| Recurring financial charges | 65 | €0 | €75 | +€75 | +19636.8% |
| Profit (loss) for the period before taxes | 9903 | €244 | €868 | +€623 | +255.2% |
| Income taxes | 67/77 | - | €813 | +€813 | |
| Profit (loss) for the period | 9904 | €244 | €55 | -€189 | -77.5% |
| Profit (loss) for the period to be appropriated | 9905 | €244 | €55 | -€189 | -77.5% |
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.