ALESTO: 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
ALESTO
NACE 64.210, Activities of holding companies
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€200,534
2024 · €188,655+€11,879
Equity
€1.4m
2024 · €1.2m+€200,534
Cash
€592
2024 · €7,500-€6,908
Balance sheet total
€1.6m
2024 · €1.3m+€319,649
Largest movements
Assets
- Receivables after one year +€461,350
up €461,350 (+287%), from €161,000 to €622,350
- Current investments -€130,000
no longer reported in 2025 (was €130,000)
Equity and liabilities
- Reserves +€200,534
up €200,534 (+27.5%), from €730,206 to €930,740
of which Distributable reserves: +€200,534
- Other debts +€66,145
up €66,145 (+482%), from €13,727 to €79,872
- Current portion of long-term debt +€37,662
new in 2025: €37,662
Income statement
- Gross operating margin +€8,677
up €8,677 (+2.9%), from €295,350 to €304,027
- Financial income +€8,159
up €8,159 (+287%), from €2,843 to €11,002
- Taxes +€6,377
up €6,377 (+6.4%), from €99,376 to €105,752
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
€188,655
Gross operating margin
+€8,677
Depreciation
+€1,997
Other operating charges
-€16
Financial income
+€8,159
Financial charges
-€562
Taxes
-€6,377
Result 2025
€200,534
raises the resultlowers the result
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
-€174,015
Investment
+€127,664
Financing
+€39,443
Cash 2024
€7,500
From operations (derived)
-€174,015
Net result for the year
+€200,534
Depreciation
+€6,109
Receivables after one year
-€461,350
Smaller working-capital items
+€2,167
Tax, wage and social debts
+€12,381
Other debts
+€66,145
Investment (derived)
+€127,664
Investment in fixed assets (net)
-€2,336
Current investments
+€130,000
Financing
+€39,443
Current portion of long-term debt
+€37,662
Short-term financial debts
+€1,781
Cash 2025
€592
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,312,294 | €1,631,943 | +€319,649 | +24.4% |
| Fixed assets | 21/28 | €1,008,104 | €1,004,332 | -€3,773 | -0.4% |
| Tangible fixed assets | 22/27 | €8,104 | €4,332 | -€3,773 | -46.6% |
| Furniture and vehicles | 24 | €4,860 | €2,119 | -€2,741 | -56.4% |
| Other tangible fixed assets | 26 | €3,245 | €2,213 | -€1,032 | -31.8% |
| Financial fixed assets | 28 | €1,000,000 | €1,000,000 | = | 0.0% |
| Current assets | 29/58 | €304,190 | €627,612 | +€323,422 | +106% |
| Amounts receivable after more than one year | 29 | €161,000 | €622,350 | +€461,350 | +287% |
| Other amounts receivable | 291 | €161,000 | €622,350 | +€461,350 | +287% |
| Amounts receivable within one year | 40/41 | €5,290 | €4,270 | -€1,020 | -19.3% |
| Other amounts receivable | 41 | €5,290 | €4,270 | -€1,020 | -19.3% |
| Current investments | 50/53 | €130,000 | - | -€130,000 | |
| Cash at bank and in hand | 54/58 | €7,500 | €592 | -€6,908 | -92.1% |
| Deferred charges and accrued income | 490/1 | €400 | €400 | = | 0.0% |
| Total equity and liabilities | 10/49 | €1,312,294 | €1,631,943 | +€319,649 | +24.4% |
| Equity | 10/15 | €1,157,601 | €1,358,135 | +€200,534 | +17.3% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €730,206 | €930,740 | +€200,534 | +27.5% |
| Non-distributable reserves | 130/1 | €35,171 | €35,171 | = | 0.0% |
| Other | 1319 | €35,171 | €35,171 | = | 0.0% |
| Distributable reserves | 133 | €695,035 | €895,569 | +€200,534 | +28.9% |
| Profit (loss) carried forward | 14 | €407,395 | €407,395 | = | 0.0% |
| Amounts payable | 17/49 | €154,693 | €273,808 | +€119,115 | +77.0% |
| Amounts payable within one year | 42/48 | €154,693 | €273,808 | +€119,115 | +77.0% |
| Current portion of amounts payable after more than one year | 42 | - | €37,662 | +€37,662 | |
| Financial debts | 43 | - | €1,781 | +€1,781 | |
| Credit institutions | 430/8 | - | €1,781 | +€1,781 | |
| Trade debts | 44 | €1,310 | €2,457 | +€1,147 | +87.6% |
| Suppliers | 440/4 | €1,310 | €2,457 | +€1,147 | +87.6% |
| Taxes, remuneration and social security | 45 | €139,656 | €152,037 | +€12,381 | +8.9% |
| Taxes | 450/3 | €139,656 | €152,037 | +€12,381 | +8.9% |
| Other amounts payable | 47/48 | €13,727 | €79,872 | +€66,145 | +482% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,106 | €6,109 | -€1,997 | -24.6% |
| Other operating charges | 640/8 | €1,269 | €1,286 | +€16 | +1.3% |
| Gross operating margin | 9900 | €295,350 | €304,027 | +€8,677 | +2.9% |
| Operating profit (loss) | 9901 | €285,975 | €296,632 | +€10,657 | +3.7% |
| Financial income | 75/76B | €2,843 | €11,002 | +€8,159 | +287% |
| Recurring financial income | 75 | €2,843 | €11,002 | +€8,159 | +287% |
| Financial charges | 65/66B | €787 | €1,349 | +€562 | +71.4% |
| Recurring financial charges | 65 | €787 | €1,349 | +€562 | +71.4% |
| Profit (loss) for the period before taxes | 9903 | €288,031 | €306,286 | +€18,255 | +6.3% |
| Income taxes | 67/77 | €99,376 | €105,752 | +€6,377 | +6.4% |
| Profit (loss) for the period | 9904 | €188,655 | €200,534 | +€11,879 | +6.3% |
| Profit (loss) for the period to be appropriated | 9905 | €188,655 | €200,534 | +€11,879 | +6.3% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 October 2026 via checked.be.