ALCOGAM: 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.
ALCOGAM
Largest movements
- Tangible fixed assets -€45,859
down €45,859 (-51.8%), from €88,448 to €42,589
- Deferred charges and accrued income +€7,712
up €7,712 (+229.2%), from €3,364 to €11,077
- Cash +€4,042
up €4,042 (+85.4%), from €4,731 to €8,772
mainly Investment in fixed assets (net) (+€27,385) and Depreciation (+€18,474)
- Stocks and contracts +€2,463
new in 2025: €2,463
- Other debts -€18,383
down €18,383 (-31.7%), from €57,925 to €39,542
- Debts after one year -€10,163
down €10,163 (-42.5%), from €23,902 to €13,740
- Profit (loss) carried forward -€4,371
down €4,371, from €1,048 to -€3,324
- Tax, wage and social debts +€1,294
up €1,294 (+33.4%), from €3,876 to €5,170
of which Remuneration and social security: +€2,472
- Depreciation -€8,413
down €8,413 (-31.3%), from €26,887 to €18,474
- Gross operating margin -€268
down €268 (-1.3%), from €20,496 to €20,228
- Taxes +€227
up €227 (+157.2%), from €144 to €371
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 | €106,559 | €75,322 | -€31,237 | -29.3% |
| Fixed assets | 21/28 | €88,535 | €42,676 | -€45,859 | -51.8% |
| Tangible fixed assets | 22/27 | €88,448 | €42,589 | -€45,859 | -51.8% |
| Furniture and vehicles | 24 | €88,448 | €42,589 | -€45,859 | -51.8% |
| Financial fixed assets | 28 | €86 | €86 | = | 0.0% |
| Current assets | 29/58 | €18,025 | €32,647 | +€14,622 | +81.1% |
| Stocks and contracts in progress | 3 | - | €2,463 | +€2,463 | |
| Stocks | 30/36 | - | €2,463 | +€2,463 | |
| Amounts receivable within one year | 40/41 | €9,929 | €10,335 | +€405 | +4.1% |
| Trade receivables | 40 | €9,929 | €10,335 | +€405 | +4.1% |
| Cash at bank and in hand | 54/58 | €4,731 | €8,772 | +€4,042 | +85.4% |
| Deferred charges and accrued income | 490/1 | €3,364 | €11,077 | +€7,712 | +229.2% |
| Total equity and liabilities | 10/49 | €106,559 | €75,322 | -€31,237 | -29.3% |
| Equity | 10/15 | €3,048 | -€1,324 | -€4,371 | |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,048 | -€3,324 | -€4,371 | |
| Amounts payable | 17/49 | €103,512 | €76,646 | -€26,866 | -26.0% |
| Amounts payable after more than one year | 17 | €23,902 | €13,740 | -€10,163 | -42.5% |
| Financial debts | 170/4 | €23,902 | €13,740 | -€10,163 | -42.5% |
| Amounts payable within one year | 42/48 | €79,609 | €62,287 | -€17,322 | -21.8% |
| Current portion of amounts payable after more than one year | 42 | €9,788 | €10,163 | +€374 | +3.8% |
| Trade debts | 44 | €8,020 | €7,413 | -€607 | -7.6% |
| Suppliers | 440/4 | €8,020 | €7,413 | -€607 | -7.6% |
| Taxes, remuneration and social security | 45 | €3,876 | €5,170 | +€1,294 | +33.4% |
| Taxes | 450/3 | €3,876 | €2,698 | -€1,178 | -30.4% |
| Remuneration and social security | 454/9 | - | €2,472 | +€2,472 | |
| Other amounts payable | 47/48 | €57,925 | €39,542 | -€18,383 | -31.7% |
| Accrued charges and deferred income | 492/3 | - | €619 | +€619 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,887 | €18,474 | -€8,413 | -31.3% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Non-recurring operating charges | 66A | - | €4,047 | +€4,047 | |
| Gross operating margin | 9900 | €20,496 | €20,228 | -€268 | -1.3% |
| Operating profit (loss) | 9901 | -€6,778 | -€2,693 | +€4,086 | +60.3% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €1,244 | €1,307 | +€63 | +5.1% |
| Recurring financial charges | 65 | €1,244 | €1,307 | +€63 | +5.1% |
| Profit (loss) for the period before taxes | 9903 | -€8,022 | -€4,000 | +€4,022 | +50.1% |
| Income taxes | 67/77 | €144 | €371 | +€227 | +157.2% |
| Profit (loss) for the period | 9904 | -€8,166 | -€4,371 | +€3,795 | +46.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€8,166 | -€4,371 | +€3,795 | +46.5% |
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 8 October 2026 via checked.be.