ALDA PROJECTS: 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.
ALDA PROJECTS
Largest movements
- Tangible fixed assets -€136,065
down €136,065 (-9.0%), from €1.5m to €1.4m
of which Land and buildings: -€77,277
- Cash +€43,044
up €43,044 (+20.9%), from €205,937 to €248,981
mainly Depreciation (+€136,065) and Trade debts (+€34,703)
- Debts after one year -€104,770
down €104,770 (-12.3%), from €849,973 to €745,203
of which Financial debts: -€104,770
- Trade debts +€34,703
up €34,703 (+156.1%), from €22,235 to €56,938
- Current portion of long-term debt -€25,196
down €25,196 (-18.8%), from €133,972 to €108,775
- Profit (loss) carried forward +€18,535
up €18,535 (+3.0%), from €611,089 to €629,624
- Write-downs +€4,060
new in 2025: €4,060
- Depreciation -€2,170
down €2,170 (-1.6%), from €138,235 to €136,065
- Gross operating margin +€2,165
up €2,165 (+1.2%), from €182,449 to €184,613
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 | €1,757,453 | €1,669,001 | -€88,451 | -5.0% |
| Fixed assets | 21/28 | €1,519,043 | €1,382,978 | -€136,065 | -9.0% |
| Tangible fixed assets | 22/27 | €1,519,043 | €1,382,978 | -€136,065 | -9.0% |
| Land and buildings | 22 | €1,429,653 | €1,352,376 | -€77,277 | -5.4% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Leasing and similar rights | 25 | €89,391 | €30,602 | -€58,788 | -65.8% |
| Current assets | 29/58 | €238,409 | €286,023 | +€47,614 | +20.0% |
| Stocks and contracts in progress | 3 | €8,120 | €4,060 | -€4,060 | -50.0% |
| Stocks | 30/36 | €8,120 | €4,060 | -€4,060 | -50.0% |
| Amounts receivable within one year | 40/41 | €19,928 | €26,652 | +€6,724 | +33.7% |
| Trade receivables | 40 | €19,428 | €22,341 | +€2,912 | +15.0% |
| Other amounts receivable | 41 | €500 | €4,312 | +€3,812 | +762.4% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €205,937 | €248,981 | +€43,044 | +20.9% |
| Deferred charges and accrued income | 490/1 | €4,424 | €6,330 | +€1,906 | +43.1% |
| Total equity and liabilities | 10/49 | €1,757,453 | €1,669,001 | -€88,451 | -5.0% |
| Equity | 10/15 | €709,732 | €720,958 | +€11,226 | +1.6% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €80,092 | €72,784 | -€7,309 | -9.1% |
| Tax-exempt reserves | 132 | €78,237 | €70,929 | -€7,309 | -9.3% |
| Distributable reserves | 133 | €1,855 | €1,855 | = | 0.0% |
| Profit (loss) carried forward | 14 | €611,089 | €629,624 | +€18,535 | +3.0% |
| Provisions and deferred taxes | 16 | €28,199 | €23,643 | -€4,556 | -16.2% |
| Deferred taxes | 168 | €28,199 | €23,643 | -€4,556 | -16.2% |
| Amounts payable | 17/49 | €1,019,522 | €924,400 | -€95,122 | -9.3% |
| Amounts payable after more than one year | 17 | €849,973 | €745,203 | -€104,770 | -12.3% |
| Financial debts | 170/4 | €833,233 | €728,463 | -€104,770 | -12.6% |
| Other amounts payable | 178/9 | €16,740 | €16,740 | = | 0.0% |
| Amounts payable within one year | 42/48 | €169,549 | €179,198 | +€9,648 | +5.7% |
| Current portion of amounts payable after more than one year | 42 | €133,972 | €108,775 | -€25,196 | -18.8% |
| Trade debts | 44 | €22,235 | €56,938 | +€34,703 | +156.1% |
| Suppliers | 440/4 | €22,235 | €56,938 | +€34,703 | +156.1% |
| Taxes, remuneration and social security | 45 | €13,342 | €13,204 | -€139 | -1.0% |
| Taxes | 450/3 | €13,342 | €13,204 | -€139 | -1.0% |
| Other amounts payable | 47/48 | €0 | €280 | +€280 | |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €138,235 | €136,065 | -€2,170 | -1.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €4,060 | +€4,060 | |
| Other operating charges | 640/8 | €16,708 | €18,060 | +€1,353 | +8.1% |
| Gross operating margin | 9900 | €182,449 | €184,613 | +€2,165 | +1.2% |
| Operating profit (loss) | 9901 | €27,506 | €26,428 | -€1,079 | -3.9% |
| Financial income | 75/76B | €0 | €0 | +€0 | +100.0% |
| Recurring financial income | 75 | €0 | €0 | +€0 | +100.0% |
| Financial charges | 65/66B | €11,957 | €13,010 | +€1,053 | +8.8% |
| Recurring financial charges | 65 | €11,957 | €13,010 | +€1,053 | +8.8% |
| Profit (loss) for the period before taxes | 9903 | €15,549 | €13,417 | -€2,131 | -13.7% |
| Transfer from deferred taxes | 780 | €4,173 | €2,966 | -€1,207 | -28.9% |
| Income taxes | 67/77 | €5,478 | €6,747 | +€1,269 | +23.2% |
| Profit (loss) for the period | 9904 | €14,244 | €9,636 | -€4,607 | -32.3% |
| Transfer from tax-exempt reserves | 789 | €8,105 | €8,899 | +€794 | +9.8% |
| Profit (loss) for the period to be appropriated | 9905 | €22,348 | €18,535 | -€3,813 | -17.1% |
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 12 October 2026 via checked.be.