ALCYON: 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.
ALCYON
Largest movements
- Financial fixed assets +€550,200
new in 2025: €550,200
- Receivables within one year +€36,483
up €36,483 (+12.5%), from €292,793 to €329,276
of which Trade receivables: +€44,982
- Tangible fixed assets +€14,872
up €14,872 (+9.1%), from €163,344 to €178,216
of which Plant, machinery and equipment: +€26,231
- Cash -€12,979
down €12,979 (-32.0%), from €40,498 to €27,519
mainly Investment in fixed assets (net) (-€614,338) and Receivables within one year (-€36,483)
- Other debts +€362,677
up €362,677 (+286%), from €126,876 to €489,553
- Advances received +€86,356
up €86,356 (+36.4%), from €237,160 to €323,516
- Short-term financial debts +€60,000
new in 2025: €60,000
- Accrued charges and deferred income +€55,000
new in 2025: €55,000
- Trade debts +€15,040
up €15,040 (+17.3%), from €86,947 to €101,987
- Gross operating margin +€54,599
up €54,599 (+36.0%), from €151,849 to €206,448
- Staff costs +€33,785
up €33,785 (+37.8%), from €89,472 to €123,257
- Taxes -€26,282
down €26,282 (-74.9%), from €35,080 to €8,798
- Other operating charges +€10,553
up €10,553 (+139%), from €7,597 to €18,150
- Depreciation +€7,109
up €7,109 (+16.9%), from €42,157 to €49,266
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 | €496,634 | €1,085,211 | +€588,577 | +119% |
| Fixed assets | 21/28 | €163,344 | €728,416 | +€565,072 | +346% |
| Tangible fixed assets | 22/27 | €163,344 | €178,216 | +€14,872 | +9.1% |
| Land and buildings | 22 | €45,056 | €34,696 | -€10,360 | -23.0% |
| Plant, machinery and equipment | 23 | €74,460 | €100,691 | +€26,231 | +35.2% |
| Furniture and vehicles | 24 | €38,793 | €38,307 | -€486 | -1.3% |
| Other tangible fixed assets | 26 | €5,035 | €4,522 | -€512 | -10.2% |
| Financial fixed assets | 28 | - | €550,200 | +€550,200 | |
| Current assets | 29/58 | €333,290 | €356,795 | +€23,504 | +7.1% |
| Amounts receivable within one year | 40/41 | €292,793 | €329,276 | +€36,483 | +12.5% |
| Trade receivables | 40 | €283,044 | €328,026 | +€44,982 | +15.9% |
| Other amounts receivable | 41 | €9,749 | €1,249 | -€8,499 | -87.2% |
| Cash at bank and in hand | 54/58 | €40,498 | €27,519 | -€12,979 | -32.0% |
| Total equity and liabilities | 10/49 | €496,634 | €1,085,211 | +€588,577 | +119% |
| Equity | 10/15 | €29,733 | €32,022 | +€2,289 | +7.7% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Capital | 10 | €25,000 | €25,000 | = | 0.0% |
| Issued capital | 100 | €25,000 | €25,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €4,733 | €7,022 | +€2,289 | +48.4% |
| Amounts payable | 17/49 | €466,901 | €1,053,189 | +€586,287 | +126% |
| Amounts payable within one year | 42/48 | €466,901 | €998,189 | +€531,287 | +114% |
| Financial debts | 43 | - | €60,000 | +€60,000 | |
| Other loans | 439 | - | €60,000 | +€60,000 | |
| Trade debts | 44 | €86,947 | €101,987 | +€15,040 | +17.3% |
| Suppliers | 440/4 | €86,947 | €101,987 | +€15,040 | +17.3% |
| Advances received on contracts in progress | 46 | €237,160 | €323,516 | +€86,356 | +36.4% |
| Taxes, remuneration and social security | 45 | €15,918 | €23,133 | +€7,214 | +45.3% |
| Taxes | 450/3 | €8,206 | €9,752 | +€1,546 | +18.8% |
| Remuneration and social security | 454/9 | €7,712 | €13,381 | +€5,669 | +73.5% |
| Other amounts payable | 47/48 | €126,876 | €489,553 | +€362,677 | +286% |
| Accrued charges and deferred income | 492/3 | - | €55,000 | +€55,000 | |
| Remuneration, social security and pensions | 62 | €89,472 | €123,257 | +€33,785 | +37.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,157 | €49,266 | +€7,109 | +16.9% |
| Other operating charges | 640/8 | €7,597 | €18,150 | +€10,553 | +139% |
| Gross operating margin | 9900 | €151,849 | €206,448 | +€54,599 | +36.0% |
| Operating profit (loss) | 9901 | €12,623 | €15,776 | +€3,152 | +25.0% |
| Financial income | 75/76B | €1,352 | €18 | -€1,335 | -98.7% |
| Recurring financial income | 75 | €1,352 | €18 | -€1,335 | -98.7% |
| Financial charges | 65/66B | €1,474 | €4,707 | +€3,233 | +219% |
| Recurring financial charges | 65 | €1,474 | €4,707 | +€3,233 | +219% |
| Profit (loss) for the period before taxes | 9903 | €12,502 | €11,087 | -€1,415 | -11.3% |
| Income taxes | 67/77 | €35,080 | €8,798 | -€26,282 | -74.9% |
| Profit (loss) for the period | 9904 | -€22,578 | €2,289 | +€24,867 | |
| Profit (loss) for the period to be appropriated | 9905 | -€22,578 | €2,289 | +€24,867 |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 23 October 2026 via checked.be.