ALEAC: 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.
ALEAC
Largest movements
- Tangible fixed assets -€57,987
down €57,987 (-9.6%), from €601,377 to €543,391
- Receivables within one year +€41,393
up €41,393 (+2,314%), from €1,789 to €43,182
of which Other amounts receivable: +€41,393
- Cash -€18,273
down €18,273 (-100%), from €18,273 to €0
mainly Debts after one year (-€87,587) and Other debts (-€46,780)
- Deferred charges and accrued income -€9,817
down €9,817 (-98.1%), from €10,008 to €190
- Short-term financial debts +€91,623
new in 2025: €91,623
- Debts after one year -€87,587
down €87,587 (-33.2%), from €264,046 to €176,459
- Other debts -€46,780
down €46,780 (-27.9%), from €167,809 to €121,028
- Reserves -€10,088
down €10,088 (-32.8%), from €30,751 to €20,664
of which Distributable reserves: -€10,088
- Gross operating margin -€44,457
down €44,457 (-39.8%), from €111,644 to €67,187
- Taxes -€10,544
down €10,544 (-100%), from €10,544 to €0
- Other operating charges +€3,185
up €3,185 (+120%), from €2,663 to €5,848
- Financial income -€2,765
down €2,765 (-100%), from €2,765 to €0
- Financial charges -€1,628
down €1,628 (-10.8%), from €15,067 to €13,439
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 | €631,447 | €586,763 | -€44,684 | -7.1% |
| Fixed assets | 21/28 | €601,377 | €543,391 | -€57,987 | -9.6% |
| Tangible fixed assets | 22/27 | €601,377 | €543,391 | -€57,987 | -9.6% |
| Land and buildings | 22 | €601,377 | €543,391 | -€57,987 | -9.6% |
| Current assets | 29/58 | €30,070 | €43,372 | +€13,303 | +44.2% |
| Amounts receivable within one year | 40/41 | €1,789 | €43,182 | +€41,393 | +2,314% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €1,789 | €43,182 | +€41,393 | +2,314% |
| Cash at bank and in hand | 54/58 | €18,273 | €0 | -€18,273 | -100% |
| Deferred charges and accrued income | 490/1 | €10,008 | €190 | -€9,817 | -98.1% |
| Total equity and liabilities | 10/49 | €631,447 | €586,763 | -€44,684 | -7.1% |
| Equity | 10/15 | €92,251 | €82,164 | -€10,088 | -10.9% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €30,751 | €20,664 | -€10,088 | -32.8% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Distributable reserves | 133 | €24,601 | €14,514 | -€10,088 | -41.0% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €539,196 | €504,599 | -€34,597 | -6.4% |
| Amounts payable after more than one year | 17 | €264,046 | €176,459 | -€87,587 | -33.2% |
| Financial debts | 170/4 | €264,046 | €176,459 | -€87,587 | -33.2% |
| Amounts payable within one year | 42/48 | €270,998 | €323,786 | +€52,788 | +19.5% |
| Current portion of amounts payable after more than one year | 42 | €91,979 | €94,768 | +€2,789 | +3.0% |
| Financial debts | 43 | - | €91,623 | +€91,623 | |
| Credit institutions | 430/8 | - | €91,623 | +€91,623 | |
| Trade debts | 44 | €0 | €5,823 | +€5,823 | |
| Suppliers | 440/4 | €0 | €5,823 | +€5,823 | |
| Taxes, remuneration and social security | 45 | €11,211 | €10,544 | -€667 | -5.9% |
| Taxes | 450/3 | €11,211 | €10,544 | -€667 | -5.9% |
| Other amounts payable | 47/48 | €167,809 | €121,028 | -€46,780 | -27.9% |
| Accrued charges and deferred income | 492/3 | €4,151 | €4,354 | +€203 | +4.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €57,987 | €57,987 | = | 0.0% |
| Other operating charges | 640/8 | €2,663 | €5,848 | +€3,185 | +120% |
| Gross operating margin | 9900 | €111,644 | €67,187 | -€44,457 | -39.8% |
| Operating profit (loss) | 9901 | €50,994 | €3,352 | -€47,643 | -93.4% |
| Financial income | 75/76B | €2,765 | €0 | -€2,765 | -100% |
| Recurring financial income | 75 | €2,765 | €0 | -€2,765 | -100% |
| Financial charges | 65/66B | €15,067 | €13,439 | -€1,628 | -10.8% |
| Recurring financial charges | 65 | €15,067 | €13,439 | -€1,628 | -10.8% |
| Profit (loss) for the period before taxes | 9903 | €38,692 | -€10,088 | -€48,780 | |
| Income taxes | 67/77 | €10,544 | €0 | -€10,544 | -100% |
| Profit (loss) for the period | 9904 | €28,148 | -€10,088 | -€38,236 | |
| Profit (loss) for the period to be appropriated | 9905 | €28,148 | -€10,088 | -€38,236 |
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 14 October 2026 via checked.be.