ALCOR: 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.
ALCOR
Largest movements
- Receivables after one year -€40,000
down €40,000 (-100.0%), from €40,000 to €0
- Tangible fixed assets -€14,038
down €14,038 (-3.9%), from €359,709 to €345,671
of which Land and buildings: -€8,022
- Cash +€7,884
up €7,884 (+4.3%), from €185,265 to €193,149
mainly Receivables after one year (+€40,000) and Depreciation (+€36,722)
- Reserves -€51,358
down €51,358 (-83.0%), from €61,878 to €10,520
- Other debts +€12,156
up €12,156 (+29.7%), from €40,889 to €53,046
- Debts after one year -€11,407
down €11,407 (-100.0%), from €11,407 to €0
- Gross operating margin +€20,860
up €20,860 (+111.5%), from €18,704 to €39,564
- Depreciation +€2,954
up €2,954 (+8.7%), from €33,769 to €36,722
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 | €614,672 | €561,701 | -€52,971 | -8.6% |
| Fixed assets | 21/28 | €379,616 | €365,578 | -€14,038 | -3.7% |
| Tangible fixed assets | 22/27 | €359,709 | €345,671 | -€14,038 | -3.9% |
| Land and buildings | 22 | €283,812 | €275,790 | -€8,022 | -2.8% |
| Furniture and vehicles | 24 | €618 | €328 | -€290 | -46.9% |
| Other tangible fixed assets | 26 | €75,279 | €69,553 | -€5,726 | -7.6% |
| Financial fixed assets | 28 | €19,907 | €19,907 | = | 0.0% |
| Current assets | 29/58 | €235,057 | €196,124 | -€38,933 | -16.6% |
| Amounts receivable after more than one year | 29 | €40,000 | €0 | -€40,000 | -100.0% |
| Other amounts receivable | 291 | €40,000 | €0 | -€40,000 | -100.0% |
| Amounts receivable within one year | 40/41 | €4,792 | €641 | -€4,151 | -86.6% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €4,792 | €641 | -€4,151 | -86.6% |
| Cash at bank and in hand | 54/58 | €185,265 | €193,149 | +€7,884 | +4.3% |
| Deferred charges and accrued income | 490/1 | €4,999 | €2,334 | -€2,665 | -53.3% |
| Total equity and liabilities | 10/49 | €614,672 | €561,701 | -€52,971 | -8.6% |
| Equity | 10/15 | €547,066 | €494,756 | -€52,310 | -9.6% |
| Contributions | 10/11 | €20,250 | €20,250 | = | 0.0% |
| Reserves | 13 | €61,878 | €10,520 | -€51,358 | -83.0% |
| Distributable reserves | 133 | €61,878 | €10,520 | -€51,358 | -83.0% |
| Profit (loss) carried forward | 14 | €464,938 | €463,986 | -€952 | -0.2% |
| Amounts payable | 17/49 | €67,607 | €66,946 | -€661 | -1.0% |
| Amounts payable after more than one year | 17 | €11,407 | €0 | -€11,407 | -100.0% |
| Financial debts | 170/4 | €11,407 | €0 | -€11,407 | -100.0% |
| Amounts payable within one year | 42/48 | €55,207 | €66,704 | +€11,497 | +20.8% |
| Current portion of amounts payable after more than one year | 42 | €11,174 | €11,407 | +€233 | +2.1% |
| Trade debts | 44 | €1,727 | €1,746 | +€18 | +1.1% |
| Suppliers | 440/4 | €1,727 | €1,746 | +€18 | +1.1% |
| Taxes, remuneration and social security | 45 | €1,416 | €506 | -€910 | -64.3% |
| Taxes | 450/3 | €1,416 | €506 | -€910 | -64.3% |
| Other amounts payable | 47/48 | €40,889 | €53,046 | +€12,156 | +29.7% |
| Accrued charges and deferred income | 492/3 | €992 | €241 | -€751 | -75.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,769 | €36,722 | +€2,954 | +8.7% |
| Other operating charges | 640/8 | €3,384 | €3,472 | +€88 | +2.6% |
| Gross operating margin | 9900 | €18,704 | €39,564 | +€20,860 | +111.5% |
| Operating profit (loss) | 9901 | -€18,449 | -€631 | +€17,818 | +96.6% |
| Financial income | 75/76B | €1,236 | €1,236 | +€0 | 0.0% |
| Recurring financial income | 75 | €1,236 | €1,236 | +€0 | 0.0% |
| Financial charges | 65/66B | €1,231 | €1,072 | -€160 | -13.0% |
| Recurring financial charges | 65 | €1,231 | €1,072 | -€160 | -13.0% |
| Profit (loss) for the period before taxes | 9903 | -€18,444 | -€467 | +€17,978 | +97.5% |
| Income taxes | 67/77 | €349 | €486 | +€137 | +39.3% |
| Profit (loss) for the period | 9904 | -€18,793 | -€952 | +€17,841 | +94.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€18,793 | -€952 | +€17,841 | +94.9% |
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 7 October 2026 via checked.be.