ALERCE: 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.
ALERCE
Largest movements
- Receivables within one year +€28,544
new in 2025: €28,544
- Cash +€8,514
up €8,514 (+15.3%), from €55,519 to €64,032
mainly Net result for the year (+€26,713) and Accrued charges and deferred income (+€12,920)
- Tangible fixed assets +€2,617
new in 2025: €2,617
- Reserves +€26,713
up €26,713 (+78.6%), from €33,979 to €60,692
of which Distributable reserves: +€26,713
- Accrued charges and deferred income +€12,920
new in 2025: €12,920
- Other debts +€1,000
up €1,000 (+49.0%), from €2,041 to €3,041
- Gross operating margin -€7,980
down €7,980 (-18.7%), from €42,732 to €34,752
- Taxes -€1,524
down €1,524 (-17.9%), from €8,500 to €6,976
- Other operating charges +€805
up €805 (+313%), from €257 to €1,062
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 | €55,519 | €95,193 | +€39,674 | +71.5% |
| Fixed assets | 21/28 | - | €2,617 | +€2,617 | |
| Tangible fixed assets | 22/27 | - | €2,617 | +€2,617 | |
| Plant, machinery and equipment | 23 | - | €2,617 | +€2,617 | |
| Current assets | 29/58 | €55,519 | €92,576 | +€37,057 | +66.7% |
| Amounts receivable within one year | 40/41 | - | €28,544 | +€28,544 | |
| Trade receivables | 40 | - | €28,544 | +€28,544 | |
| Cash at bank and in hand | 54/58 | €55,519 | €64,032 | +€8,514 | +15.3% |
| Total equity and liabilities | 10/49 | €55,519 | €95,193 | +€39,674 | +71.5% |
| Equity | 10/15 | €36,479 | €63,192 | +€26,713 | +73.2% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Capital | 10 | €2,500 | - | -€2,500 | |
| Issued capital | 100 | €2,500 | - | -€2,500 | |
| Reserves | 13 | €33,979 | €60,692 | +€26,713 | +78.6% |
| Non-distributable reserves | 130/1 | €250 | €250 | = | 0.0% |
| Legal reserve | 130 | €250 | - | -€250 | |
| Reserves not available under the articles | 1311 | - | €250 | +€250 | |
| Distributable reserves | 133 | €33,729 | €60,442 | +€26,713 | +79.2% |
| Amounts payable | 17/49 | €19,039 | €32,001 | +€12,961 | +68.1% |
| Amounts payable within one year | 42/48 | €19,039 | €19,081 | +€42 | +0.2% |
| Trade debts | 44 | €20 | - | -€20 | |
| Suppliers | 440/4 | €20 | - | -€20 | |
| Taxes, remuneration and social security | 45 | €16,978 | €16,040 | -€938 | -5.5% |
| Taxes | 450/3 | €16,978 | €16,040 | -€938 | -5.5% |
| Other amounts payable | 47/48 | €2,041 | €3,041 | +€1,000 | +49.0% |
| Accrued charges and deferred income | 492/3 | - | €12,920 | +€12,920 | |
| Other operating charges | 640/8 | €257 | €1,062 | +€805 | +313% |
| Gross operating margin | 9900 | €42,732 | €34,752 | -€7,980 | -18.7% |
| Operating profit (loss) | 9901 | €42,475 | €33,689 | -€8,785 | -20.7% |
| Financial income | 75/76B | €4 | - | -€4 | |
| Recurring financial income | 75 | €4 | - | -€4 | |
| Non-recurring financial income | 76B | €4 | - | -€4 | |
| Financial charges | 65/66B | - | €0 | +€0 | |
| Recurring financial charges | 65 | - | €0 | +€0 | |
| Profit (loss) for the period before taxes | 9903 | €42,479 | €33,689 | -€8,790 | -20.7% |
| Income taxes | 67/77 | €8,500 | €6,976 | -€1,524 | -17.9% |
| Profit (loss) for the period | 9904 | €33,979 | €26,713 | -€7,266 | -21.4% |
| Profit (loss) for the period to be appropriated | 9905 | €33,979 | €26,713 | -€7,266 | -21.4% |
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 15 October 2026 via checked.be.