ALECO: 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
ALECO
NACE 46.431, Wholesale of electrical household appliances and audio-video equipment
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€131,755
2024 · €24,558-€156,313
Equity
€2.6m
2024 · €2.7m-€131,755
Cash
€193,982
2024 · €191,352+€2,630
Balance sheet total
€3.3m
2024 · €3.4m-€131,675
Largest movements
Assets
- Stocks and contracts -€102,105
down €102,105 (-5.1%), from €2.0m to €1.9m
- Tangible fixed assets -€41,397
down €41,397 (-38.0%), from €109,041 to €67,644
of which Furniture and vehicles: -€24,670
Equity and liabilities
- Trade debts +€173,981
up €173,981 (+49.2%), from €353,699 to €527,681
- Short-term financial debts -€142,231
down €142,231 (-100%), from €142,231 to €0
- Reserves -€131,755
down €131,755 (-5.0%), from €2.7m to €2.5m
of which Distributable reserves: -€131,755
Income statement
- Gross operating margin -€196,514
down €196,514 (-18.9%), from €1.0m to €844,088
- Financial charges -€38,466
down €38,466 (-53.6%), from €71,727 to €33,261
- Financial income -€28,294
down €28,294 (-28.0%), from €100,979 to €72,685
- Taxes -€17,342
down €17,342 (-93.7%), from €18,511 to €1,170
- Write-downs -€11,555
down €11,555, from €385 to -€11,170
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
€24,558
Gross operating margin
-€196,514
Staff costs
-€11,113
Depreciation
+€9,100
Write-downs
+€11,555
Other operating charges
+€4,368
Other operating items
-€1,223
Financial income
-€28,294
Financial charges
+€38,466
Taxes
+€17,342
Result 2025
-€131,755
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€175,237
Investment
-€5,236
Financing
-€167,372
Cash 2024
€191,352
From operations (derived)
+€175,237
Net result for the year
-€131,755
Depreciation
+€50,775
Stocks and contracts
+€102,105
Receivables within one year
-€26,610
Deferred charges and accrued income
+€13,270
Trade debts
+€173,981
Tax, wage and social debts
-€8,735
Advances received
+€1,640
Other debts
+€899
Accrued charges and deferred income
-€333
Investment (derived)
-€5,236
Investment in fixed assets (net)
-€5,236
Financing
-€167,372
Debts after one year
-€25,373
Current portion of long-term debt
+€233
Short-term financial debts
-€142,231
Cash 2025
€193,982
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,431,700 | €3,300,025 | -€131,675 | -3.8% |
| Fixed assets | 21/28 | €144,212 | €98,673 | -€45,539 | -31.6% |
| Intangible fixed assets | 21 | €4,210 | €0 | -€4,210 | -100% |
| Tangible fixed assets | 22/27 | €109,041 | €67,644 | -€41,397 | -38.0% |
| Plant, machinery and equipment | 23 | €27,425 | €15,548 | -€11,878 | -43.3% |
| Furniture and vehicles | 24 | €39,206 | €14,536 | -€24,670 | -62.9% |
| Other tangible fixed assets | 26 | €42,410 | €37,560 | -€4,849 | -11.4% |
| Financial fixed assets | 28 | €30,961 | €31,028 | +€67 | +0.2% |
| Current assets | 29/58 | €3,287,488 | €3,201,352 | -€86,136 | -2.6% |
| Stocks and contracts in progress | 3 | €1,989,937 | €1,887,832 | -€102,105 | -5.1% |
| Stocks | 30/36 | €1,989,937 | €1,887,832 | -€102,105 | -5.1% |
| Amounts receivable within one year | 40/41 | €1,084,534 | €1,111,144 | +€26,610 | +2.5% |
| Trade receivables | 40 | €976,925 | €1,109,738 | +€132,813 | +13.6% |
| Other amounts receivable | 41 | €107,609 | €1,406 | -€106,203 | -98.7% |
| Cash at bank and in hand | 54/58 | €191,352 | €193,982 | +€2,630 | +1.4% |
| Deferred charges and accrued income | 490/1 | €21,665 | €8,395 | -€13,270 | -61.3% |
| Total equity and liabilities | 10/49 | €3,431,700 | €3,300,025 | -€131,675 | -3.8% |
| Equity | 10/15 | €2,722,155 | €2,590,401 | -€131,755 | -4.8% |
| 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 | €2,660,655 | €2,528,901 | -€131,755 | -5.0% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Tax-exempt reserves | 132 | €17,975 | €17,975 | = | 0.0% |
| Distributable reserves | 133 | €2,636,531 | €2,504,776 | -€131,755 | -5.0% |
| Amounts payable | 17/49 | €709,544 | €709,624 | +€80 | 0.0% |
| Amounts payable after more than one year | 17 | €31,750 | €6,377 | -€25,373 | -79.9% |
| Financial debts | 170/4 | €31,750 | €6,377 | -€25,373 | -79.9% |
| Amounts payable within one year | 42/48 | €676,912 | €702,697 | +€25,786 | +3.8% |
| Current portion of amounts payable after more than one year | 42 | €27,245 | €27,477 | +€233 | +0.9% |
| Financial debts | 43 | €142,231 | €0 | -€142,231 | -100% |
| Credit institutions | 430/8 | €142,231 | €0 | -€142,231 | -100% |
| Trade debts | 44 | €353,699 | €527,681 | +€173,981 | +49.2% |
| Suppliers | 440/4 | €353,699 | €527,681 | +€173,981 | +49.2% |
| Advances received on contracts in progress | 46 | €1,159 | €2,799 | +€1,640 | +141% |
| Taxes, remuneration and social security | 45 | €152,576 | €143,841 | -€8,735 | -5.7% |
| Taxes | 450/3 | €54,579 | €37,429 | -€17,150 | -31.4% |
| Remuneration and social security | 454/9 | €97,997 | €106,411 | +€8,415 | +8.6% |
| Other amounts payable | 47/48 | €1 | €899 | +€899 | +157,684% |
| Accrued charges and deferred income | 492/3 | €883 | €550 | -€333 | -37.7% |
| Non-recurring operating income | 76A | €10,812 | €5,144 | -€5,669 | -52.4% |
| Remuneration, social security and pensions | 62 | €943,678 | €954,791 | +€11,113 | +1.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €59,876 | €50,775 | -€9,100 | -15.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €385 | -€11,170 | -€11,555 | |
| Other operating charges | 640/8 | €22,847 | €18,478 | -€4,368 | -19.1% |
| Non-recurring operating charges | 66A | - | €1,223 | +€1,223 | |
| Gross operating margin | 9900 | €1,040,602 | €844,088 | -€196,514 | -18.9% |
| Operating profit (loss) | 9901 | €13,817 | -€170,009 | -€183,827 | |
| Financial income | 75/76B | €100,979 | €72,685 | -€28,294 | -28.0% |
| Recurring financial income | 75 | €100,979 | €72,685 | -€28,294 | -28.0% |
| Financial charges | 65/66B | €71,727 | €33,261 | -€38,466 | -53.6% |
| Recurring financial charges | 65 | €71,727 | €33,261 | -€38,466 | -53.6% |
| Profit (loss) for the period before taxes | 9903 | €43,070 | -€130,585 | -€173,655 | |
| Income taxes | 67/77 | €18,511 | €1,170 | -€17,342 | -93.7% |
| Profit (loss) for the period | 9904 | €24,558 | -€131,755 | -€156,313 | |
| Profit (loss) for the period to be appropriated | 9905 | €24,558 | -€131,755 | -€156,313 |
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.