ALEM114: 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.
ALEM114
Largest movements
- Current investments +€100,000
up €100,000 (+50.0%), from €200,000 to €300,000
- Tangible fixed assets -€28,844
down €28,844 (-12.5%), from €230,776 to €201,932
- Cash +€21,377
up €21,377 (+8.4%), from €254,766 to €276,143
mainly Net result for the year (+€148,510) and Depreciation (+€28,844)
- Receivables within one year -€8,678
down €8,678 (-21.6%), from €40,195 to €31,517
of which Other amounts receivable: -€8,466
- Reserves +€78,510
up €78,510 (+12.7%), from €619,382 to €697,893
- Tax, wage and social debts +€28,612
up €28,612 (+97.1%), from €29,473 to €58,086
of which Remuneration and social security: +€24,049
- Debts after one year -€16,889
down €16,889 (-100%), from €16,889 to €0
- Gross operating margin +€52,514
up €52,514 (+28.0%), from €187,682 to €240,196
- Taxes +€17,391
up €17,391 (+35.6%), from €48,920 to €66,312
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 | €727,309 | €810,170 | +€82,861 | +11.4% |
| Fixed assets | 21/28 | €230,776 | €201,932 | -€28,844 | -12.5% |
| Tangible fixed assets | 22/27 | €230,776 | €201,932 | -€28,844 | -12.5% |
| Land and buildings | 22 | €137,058 | €124,920 | -€12,138 | -8.9% |
| Furniture and vehicles | 24 | €45,839 | €33,723 | -€12,115 | -26.4% |
| Other tangible fixed assets | 26 | €47,880 | €43,288 | -€4,591 | -9.6% |
| Current assets | 29/58 | €496,533 | €608,239 | +€111,705 | +22.5% |
| Amounts receivable within one year | 40/41 | €40,195 | €31,517 | -€8,678 | -21.6% |
| Trade receivables | 40 | €31,729 | €31,517 | -€212 | -0.7% |
| Other amounts receivable | 41 | €8,466 | €0 | -€8,466 | -100% |
| Current investments | 50/53 | €200,000 | €300,000 | +€100,000 | +50.0% |
| Cash at bank and in hand | 54/58 | €254,766 | €276,143 | +€21,377 | +8.4% |
| Deferred charges and accrued income | 490/1 | €1,572 | €578 | -€994 | -63.2% |
| Total equity and liabilities | 10/49 | €727,309 | €810,170 | +€82,861 | +11.4% |
| Equity | 10/15 | €619,382 | €697,893 | +€78,510 | +12.7% |
| Contributions | 10/11 | €0 | - | = | |
| Reserves | 13 | €619,382 | €697,893 | +€78,510 | +12.7% |
| Distributable reserves | 133 | €619,382 | €697,893 | +€78,510 | +12.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €107,927 | €112,277 | +€4,350 | +4.0% |
| Amounts payable after more than one year | 17 | €16,889 | €0 | -€16,889 | -100% |
| Financial debts | 170/4 | €16,889 | €0 | -€16,889 | -100% |
| Amounts payable within one year | 42/48 | €88,016 | €105,316 | +€17,300 | +19.7% |
| Current portion of amounts payable after more than one year | 42 | €20,267 | €16,889 | -€3,378 | -16.7% |
| Trade debts | 44 | €6,957 | €3,135 | -€3,822 | -54.9% |
| Suppliers | 440/4 | €6,957 | €3,135 | -€3,822 | -54.9% |
| Taxes, remuneration and social security | 45 | €29,473 | €58,086 | +€28,612 | +97.1% |
| Taxes | 450/3 | €11,875 | €16,439 | +€4,563 | +38.4% |
| Remuneration and social security | 454/9 | €17,598 | €41,647 | +€24,049 | +137% |
| Other amounts payable | 47/48 | €31,320 | €27,207 | -€4,113 | -13.1% |
| Accrued charges and deferred income | 492/3 | €3,022 | €6,961 | +€3,939 | +130% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,844 | €28,844 | = | 0.0% |
| Other operating charges | 640/8 | €3,375 | €3,282 | -€93 | -2.8% |
| Gross operating margin | 9900 | €187,682 | €240,196 | +€52,514 | +28.0% |
| Operating profit (loss) | 9901 | €155,463 | €208,070 | +€52,607 | +33.8% |
| Financial income | 75/76B | €7,955 | €8,041 | +€86 | +1.1% |
| Recurring financial income | 75 | €7,955 | €8,041 | +€86 | +1.1% |
| Financial charges | 65/66B | €2,115 | €1,288 | -€827 | -39.1% |
| Recurring financial charges | 65 | €2,115 | €1,288 | -€827 | -39.1% |
| Profit (loss) for the period before taxes | 9903 | €161,303 | €214,822 | +€53,519 | +33.2% |
| Income taxes | 67/77 | €48,920 | €66,312 | +€17,391 | +35.6% |
| Profit (loss) for the period | 9904 | €112,382 | €148,510 | +€36,128 | +32.1% |
| Profit (loss) for the period to be appropriated | 9905 | €112,382 | €148,510 | +€36,128 | +32.1% |
Source: filed annual accounts (NBB), financial years ended 31 August 2024 and 31 August 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.