ALECO: 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.
ALECO
Largest movements
- Receivables within one year +€38,238
up €38,238 (+21.1%), from €181,515 to €219,753
- Cash +€11,413
up €11,413 (+14.4%), from €79,502 to €90,914
mainly Trade debts (+€28,844) and Debts after one year (+€23,600)
- Stocks and contracts -€9,935
down €9,935 (-4.3%), from €229,703 to €219,768
- Trade debts +€28,844
up €28,844 (+40.3%), from €71,498 to €100,341
- Debts after one year +€23,600
up €23,600 (+3.4%), from €684,459 to €708,059
- Profit (loss) carried forward -€10,630
down €10,630 (-3.7%), from -€284,497 to -€295,127
- Staff costs +€7,844
up €7,844 (+3.6%), from €220,846 to €228,690
- Write-downs -€6,466
down €6,466, from €5,848 to -€618
- Financial charges -€5,032
down €5,032 (-15.1%), from €33,274 to €28,242
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 | €552,123 | €595,074 | +€42,950 | +7.8% |
| Fixed assets | 21/28 | €59,758 | €64,000 | +€4,243 | +7.1% |
| Tangible fixed assets | 22/27 | €10,878 | €15,121 | +€4,243 | +39.0% |
| Plant, machinery and equipment | 23 | €7,826 | €4,685 | -€3,141 | -40.1% |
| Furniture and vehicles | 24 | €570 | €0 | -€570 | -100.0% |
| Other tangible fixed assets | 26 | €2,483 | €10,437 | +€7,954 | +320.3% |
| Financial fixed assets | 28 | €48,879 | €48,879 | = | 0.0% |
| Current assets | 29/58 | €492,366 | €531,073 | +€38,708 | +7.9% |
| Stocks and contracts in progress | 3 | €229,703 | €219,768 | -€9,935 | -4.3% |
| Stocks | 30/36 | €229,703 | €219,768 | -€9,935 | -4.3% |
| Amounts receivable within one year | 40/41 | €181,515 | €219,753 | +€38,238 | +21.1% |
| Trade receivables | 40 | €181,515 | €219,753 | +€38,238 | +21.1% |
| Cash at bank and in hand | 54/58 | €79,502 | €90,914 | +€11,413 | +14.4% |
| Deferred charges and accrued income | 490/1 | €1,646 | €638 | -€1,008 | -61.2% |
| Total equity and liabilities | 10/49 | €552,123 | €595,074 | +€42,950 | +7.8% |
| Equity | 10/15 | -€265,905 | -€276,535 | -€10,630 | -4.0% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€284,497 | -€295,127 | -€10,630 | -3.7% |
| Amounts payable | 17/49 | €818,029 | €871,609 | +€53,580 | +6.5% |
| Amounts payable after more than one year | 17 | €684,459 | €708,059 | +€23,600 | +3.4% |
| Other amounts payable | 178/9 | €684,459 | €708,059 | +€23,600 | +3.4% |
| Amounts payable within one year | 42/48 | €132,554 | €162,410 | +€29,856 | +22.5% |
| Trade debts | 44 | €71,498 | €100,341 | +€28,844 | +40.3% |
| Suppliers | 440/4 | €71,498 | €100,341 | +€28,844 | +40.3% |
| Taxes, remuneration and social security | 45 | €52,064 | €55,369 | +€3,305 | +6.3% |
| Taxes | 450/3 | €15,865 | €17,424 | +€1,559 | +9.8% |
| Remuneration and social security | 454/9 | €36,199 | €37,945 | +€1,746 | +4.8% |
| Other amounts payable | 47/48 | €8,992 | €6,699 | -€2,293 | -25.5% |
| Accrued charges and deferred income | 492/3 | €1,016 | €1,140 | +€124 | +12.2% |
| Remuneration, social security and pensions | 62 | €220,846 | €228,690 | +€7,844 | +3.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,761 | €5,691 | +€930 | +19.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €5,848 | -€618 | -€6,466 | |
| Other operating charges | 640/8 | €412 | €425 | +€12 | +3.0% |
| Gross operating margin | 9900 | €250,408 | €251,800 | +€1,392 | +0.6% |
| Operating profit (loss) | 9901 | €18,540 | €17,612 | -€928 | -5.0% |
| Financial income | 75/76B | €1 | €0 | -€0 | -98.0% |
| Recurring financial income | 75 | €1 | €0 | -€0 | -98.0% |
| Financial charges | 65/66B | €33,274 | €28,242 | -€5,032 | -15.1% |
| Recurring financial charges | 65 | €33,274 | €28,242 | -€5,032 | -15.1% |
| Profit (loss) for the period before taxes | 9903 | -€14,733 | -€10,630 | +€4,103 | +27.8% |
| Profit (loss) for the period | 9904 | -€14,733 | -€10,630 | +€4,103 | +27.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€14,733 | -€10,630 | +€4,103 | +27.8% |
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 6 October 2026 via checked.be.