ALCOBEN: 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.
ALCOBEN
Largest movements
- Tangible fixed assets +€1.5m
up €1.5m (+91.7%), from €1.6m to €3.1m
of which Assets under construction and advance payments: +€1.5m
- Current investments -€1.1m
down €1.1m (-100%), from €1.1m to €0
- Receivables within one year +€231,411
up €231,411 (+435%), from €53,180 to €284,591
of which Trade receivables: +€228,797
- Trade debts +€412,169
up €412,169 (+2,315%), from €17,804 to €429,974
- Other debts +€172,311
up €172,311 (+239%), from €72,248 to €244,559
- Debts after one year +€102,709
up €102,709 (+4.9%), from €2.1m to €2.2m
- Tax, wage and social debts -€43,143
down €43,143 (-97.2%), from €44,363 to €1,221
- Reserves -€36,481
down €36,481 (-8.7%), from €418,658 to €382,177
- Financial income -€55,391
down €55,391 (-87.3%), from €63,485 to €8,094
- Depreciation +€21,805
up €21,805 (+42.9%), from €50,828 to €72,633
- Gross operating margin +€21,569
up €21,569 (+18.6%), from €116,058 to €137,627
- Financial charges +€20,940
up €20,940 (+27.1%), from €77,210 to €98,150
- Taxes -€13,479
down €13,479 (-100%), from €13,479 to €0
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.
Derived cash bridge
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 | €2,806,284 | €3,435,597 | +€629,314 | +22.4% |
| Fixed assets | 21/28 | €1,631,691 | €3,127,536 | +€1.5m | +91.7% |
| Tangible fixed assets | 22/27 | €1,631,691 | €3,127,536 | +€1.5m | +91.7% |
| Land and buildings | 22 | €1,565,841 | €1,535,910 | -€29,931 | -1.9% |
| Plant, machinery and equipment | 23 | €441 | €294 | -€147 | -33.3% |
| Other tangible fixed assets | 26 | €44,746 | €41,773 | -€2,974 | -6.6% |
| Assets under construction and advance payments | 27 | €20,662 | €1,549,559 | +€1.5m | +7,400% |
| Current assets | 29/58 | €1,174,593 | €308,061 | -€866,532 | -73.8% |
| Amounts receivable within one year | 40/41 | €53,180 | €284,591 | +€231,411 | +435% |
| Trade receivables | 40 | €40,660 | €269,457 | +€228,797 | +563% |
| Other amounts receivable | 41 | €12,520 | €15,134 | +€2,614 | +20.9% |
| Current investments | 50/53 | €1,105,026 | €0 | -€1.1m | -100% |
| Cash at bank and in hand | 54/58 | €4,643 | €11,474 | +€6,831 | +147% |
| Deferred charges and accrued income | 490/1 | €11,743 | €11,995 | +€252 | +2.1% |
| Total equity and liabilities | 10/49 | €2,806,284 | €3,435,597 | +€629,314 | +22.4% |
| Equity | 10/15 | €438,658 | €402,177 | -€36,481 | -8.3% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €418,658 | €382,177 | -€36,481 | -8.7% |
| Distributable reserves | 133 | €418,658 | €382,177 | -€36,481 | -8.7% |
| Amounts payable | 17/49 | €2,367,625 | €3,033,420 | +€665,795 | +28.1% |
| Amounts payable after more than one year | 17 | €2,101,042 | €2,203,752 | +€102,709 | +4.9% |
| Financial debts | 170/4 | €2,101,042 | €2,203,752 | +€102,709 | +4.9% |
| Amounts payable within one year | 42/48 | €242,155 | €797,608 | +€555,453 | +229% |
| Current portion of amounts payable after more than one year | 42 | €107,740 | €121,855 | +€14,115 | +13.1% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €17,804 | €429,974 | +€412,169 | +2,315% |
| Suppliers | 440/4 | €17,804 | €429,974 | +€412,169 | +2,315% |
| Taxes, remuneration and social security | 45 | €44,363 | €1,221 | -€43,143 | -97.2% |
| Taxes | 450/3 | €44,363 | €1,221 | -€43,143 | -97.2% |
| Other amounts payable | 47/48 | €72,248 | €244,559 | +€172,311 | +239% |
| Accrued charges and deferred income | 492/3 | €24,428 | €32,060 | +€7,632 | +31.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €50,828 | €72,633 | +€21,805 | +42.9% |
| Other operating charges | 640/8 | €9,048 | €11,419 | +€2,371 | +26.2% |
| Gross operating margin | 9900 | €116,058 | €137,627 | +€21,569 | +18.6% |
| Operating profit (loss) | 9901 | €56,183 | €53,575 | -€2,608 | -4.6% |
| Financial income | 75/76B | €63,485 | €8,094 | -€55,391 | -87.3% |
| Recurring financial income | 75 | €63,485 | €8,094 | -€55,391 | -87.3% |
| Financial charges | 65/66B | €77,210 | €98,150 | +€20,940 | +27.1% |
| Recurring financial charges | 65 | €77,210 | €98,150 | +€20,940 | +27.1% |
| Profit (loss) for the period before taxes | 9903 | €42,458 | -€36,481 | -€78,939 | |
| Income taxes | 67/77 | €13,479 | €0 | -€13,479 | -100% |
| Profit (loss) for the period | 9904 | €28,979 | -€36,481 | -€65,460 | |
| Profit (loss) for the period to be appropriated | 9905 | €28,979 | -€36,481 | -€65,460 |
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 20 October 2026 via checked.be.