ALCYVER: 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.
What changed
ALCYVER
NACE 64.210, Activities of holding companies
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€346,569
2024 · -€8,515-€338,054
Equity
€2.5m
2024 · €1.1m+€1.5m
Cash
€66,680
2024 · -+€66,680
Balance sheet total
€13.6m
2024 · €1.1m+€12.5m
Largest movements
Assets
- Financial fixed assets +€12.4m
up €12.4m (+1148.4%), from €1.1m to €13.5m
Equity and liabilities
- Debts after one year +€10.7m
new in 2025: €10.7m
- Contributions +€1.8m
up €1.8m (+274.5%), from €655,655 to €2.5m
- Reserves -€346,569
down €346,569 (-83.5%), from €414,978 to €68,409
of which Distributable reserves: -€289,505
- Other debts +€300,000
new in 2025: €300,000
Income statement
- Financial charges +€216,333
up €216,333 (+5768886.1%), from €4 to €216,337
- Services and other goods +€178,445
new in 2025: €178,445
- Turnover +€50,000
new in 2025: €50,000
- Gross operating margin +€8,512
no longer reported in 2025 (was -€8,512)
- Other operating charges +€1,278
new in 2025: €1,278
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.
Result 2024
-€8,515
Turnover
+€50,000
Services and other goods
-€178,445
Depreciation
-€510
Other operating charges
-€1,278
Other operating items
+€8,512
Financial charges
-€216,333
Result 2025
-€346,569
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.
From operations
+€6,649
Investment
-€12.4m
Financing
+€12.5m
Cash 2024
€0
From operations (derived)
+€6,649
Net result for the year
-€346,569
Depreciation
+€510
Receivables within one year
-€79,639
Trade debts
+€64,476
Other debts
+€300,000
Accrued charges and deferred income
+€67,872
Investment (derived)
-€12.4m
Investment in fixed assets (net)
-€12.4m
Financing
+€12.5m
Debts after one year
+€10.7m
Contributions, distributions and other
+€1.8m
Cash 2025
€66,680
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,079,149 | €13,626,928 | +€12.5m | +1162.7% |
| Fixed assets | 21/28 | €1,079,149 | €13,480,608 | +€12.4m | +1149.2% |
| Intangible fixed assets | 21 | - | €8,490 | +€8,490 | |
| Financial fixed assets | 28 | €1,079,149 | €13,472,118 | +€12.4m | +1148.4% |
| Affiliated companies | 280/1 | - | €13,472,118 | +€13.5m | |
| Participating interests | 280 | - | €13,472,118 | +€13.5m | |
| Current assets | 29/58 | - | €146,320 | +€146,320 | |
| Stocks and contracts in progress | 3 | - | €0 | = | |
| Amounts receivable within one year | 40/41 | - | €79,639 | +€79,639 | |
| Trade receivables | 40 | - | €50,000 | +€50,000 | |
| Other amounts receivable | 41 | - | €29,639 | +€29,639 | |
| Cash at bank and in hand | 54/58 | - | €66,680 | +€66,680 | |
| Total equity and liabilities | 10/49 | €1,079,149 | €13,626,928 | +€12.5m | +1162.7% |
| Equity | 10/15 | €1,070,634 | €2,524,064 | +€1.5m | +135.8% |
| Contributions | 10/11 | €655,655 | €2,455,655 | +€1.8m | +274.5% |
| Capital | 10 | €655,655 | - | -€655,655 | |
| Issued capital | 100 | €655,655 | - | -€655,655 | |
| Reserves | 13 | €414,978 | €68,409 | -€346,569 | -83.5% |
| Non-distributable reserves | 130/1 | €23,820 | €0 | -€23,820 | -100.0% |
| Legal reserve | 130 | €23,820 | - | -€23,820 | |
| Reserves not available under the articles | 1311 | - | €0 | = | |
| Tax-exempt reserves | 132 | €33,244 | €0 | -€33,244 | -100.0% |
| Distributable reserves | 133 | €357,914 | €68,409 | -€289,505 | -80.9% |
| Amounts payable | 17/49 | €8,515 | €11,102,864 | +€11.1m | +130287.5% |
| Amounts payable after more than one year | 17 | - | €10,662,000 | +€10.7m | |
| Financial debts | 170/4 | - | €10,662,000 | +€10.7m | |
| Credit institutions | 173 | - | €9,462,000 | +€9.5m | |
| Other loans | 174 | - | €1,200,000 | +€1.2m | |
| Amounts payable within one year | 42/48 | €512 | €364,987 | +€364,476 | +71252.1% |
| Trade debts | 44 | €512 | €64,987 | +€64,476 | +12604.5% |
| Suppliers | 440/4 | €512 | €64,987 | +€64,476 | +12604.5% |
| Other amounts payable | 47/48 | - | €300,000 | +€300,000 | |
| Accrued charges and deferred income | 492/3 | €8,004 | €75,876 | +€67,872 | +848.0% |
| Operating income | 70/76A | - | €50,000 | +€50,000 | |
| Turnover | 70 | - | €50,000 | +€50,000 | |
| Operating charges | 60/66A | - | €180,232 | +€180,232 | |
| Services and other goods | 61 | - | €178,445 | +€178,445 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €510 | +€510 | |
| Other operating charges | 640/8 | - | €1,278 | +€1,278 | |
| Gross operating margin | 9900 | -€8,512 | - | +€8,512 | |
| Operating profit (loss) | 9901 | -€8,512 | -€130,232 | -€121,721 | -1430.1% |
| Financial charges | 65/66B | €4 | €216,337 | +€216,333 | +5768886.1% |
| Recurring financial charges | 65 | €4 | €216,337 | +€216,333 | +5768886.1% |
| Debt charges | 650 | - | €201,109 | +€201,109 | |
| Other financial charges | 652/9 | - | €15,228 | +€15,228 | |
| Profit (loss) for the period before taxes | 9903 | -€8,515 | -€346,569 | -€338,054 | -3970.0% |
| Profit (loss) for the period | 9904 | -€8,515 | -€346,569 | -€338,054 | -3970.0% |
| Transfer from tax-exempt reserves | 789 | - | €33,244 | +€33,244 | |
| Profit (loss) for the period to be appropriated | 9905 | -€8,515 | -€313,325 | -€304,810 | -3579.6% |
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 9 October 2026 via checked.be.