ALETHICO: 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.
ALETHICO
Largest movements
- Current investments -€101,254
no longer reported in 2025 (was €101,254)
- Cash +€49,661
up €49,661 (+68.5%), from €72,520 to €122,181
mainly Current investments (+€101,254) and Depreciation (+€11,595)
- Receivables within one year +€17,744
up €17,744 (+197.5%), from €8,985 to €26,729
of which Trade receivables: +€17,380
- Tangible fixed assets -€11,595
down €11,595 (-43.5%), from €26,653 to €15,058
- Reserves -€38,700
down €38,700 (-30.5%), from €126,964 to €88,264
- Tax, wage and social debts -€9,026
down €9,026 (-53.2%), from €16,955 to €7,929
- Debts after one year +€3,609
up €3,609 (+7.7%), from €46,710 to €50,319
- Other debts -€3,173
down €3,173 (-54.9%), from €5,779 to €2,606
- Trade debts +€3,146
up €3,146 (+53.4%), from €5,885 to €9,031
- Gross operating margin -€117,874
down €117,874, from €92,439 to -€25,435
- Taxes -€17,753
down €17,753, from €17,313 to -€440
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 | €210,949 | €166,335 | -€44,614 | -21.1% |
| Fixed assets | 21/28 | €26,878 | €15,058 | -€11,820 | -44.0% |
| Tangible fixed assets | 22/27 | €26,653 | €15,058 | -€11,595 | -43.5% |
| Furniture and vehicles | 24 | €26,653 | €15,058 | -€11,595 | -43.5% |
| Financial fixed assets | 28 | €225 | - | -€225 | |
| Current assets | 29/58 | €184,072 | €151,278 | -€32,794 | -17.8% |
| Amounts receivable within one year | 40/41 | €8,985 | €26,729 | +€17,744 | +197.5% |
| Trade receivables | 40 | €210 | €17,590 | +€17,380 | +8276.4% |
| Other amounts receivable | 41 | €8,775 | €9,139 | +€364 | +4.1% |
| Current investments | 50/53 | €101,254 | - | -€101,254 | |
| Cash at bank and in hand | 54/58 | €72,520 | €122,181 | +€49,661 | +68.5% |
| Deferred charges and accrued income | 490/1 | €1,313 | €2,368 | +€1,055 | +80.4% |
| Total equity and liabilities | 10/49 | €210,949 | €166,335 | -€44,614 | -21.1% |
| Equity | 10/15 | €131,964 | €93,264 | -€38,700 | -29.3% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €126,964 | €88,264 | -€38,700 | -30.5% |
| Distributable reserves | 133 | €126,964 | €88,264 | -€38,700 | -30.5% |
| Amounts payable | 17/49 | €78,985 | €73,071 | -€5,914 | -7.5% |
| Amounts payable after more than one year | 17 | €46,710 | €50,319 | +€3,609 | +7.7% |
| Other amounts payable | 178/9 | €46,710 | €50,319 | +€3,609 | +7.7% |
| Amounts payable within one year | 42/48 | €28,620 | €19,566 | -€9,054 | -31.6% |
| Trade debts | 44 | €5,885 | €9,031 | +€3,146 | +53.4% |
| Suppliers | 440/4 | €5,885 | €9,031 | +€3,146 | +53.4% |
| Taxes, remuneration and social security | 45 | €16,955 | €7,929 | -€9,026 | -53.2% |
| Taxes | 450/3 | €16,955 | €7,929 | -€9,026 | -53.2% |
| Other amounts payable | 47/48 | €5,779 | €2,606 | -€3,173 | -54.9% |
| Accrued charges and deferred income | 492/3 | €3,656 | €3,186 | -€470 | -12.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,595 | €11,595 | = | 0.0% |
| Other operating charges | 640/8 | - | €500 | +€500 | |
| Gross operating margin | 9900 | €92,439 | -€25,435 | -€117,874 | |
| Operating profit (loss) | 9901 | €80,844 | -€37,529 | -€118,374 | |
| Financial income | 75/76B | €1,948 | €1,616 | -€332 | -17.0% |
| Recurring financial income | 75 | €1,948 | €1,616 | -€332 | -17.0% |
| Financial charges | 65/66B | €3,648 | €3,227 | -€421 | -11.6% |
| Recurring financial charges | 65 | €3,648 | €3,227 | -€421 | -11.6% |
| Profit (loss) for the period before taxes | 9903 | €79,144 | -€39,140 | -€118,284 | |
| Income taxes | 67/77 | €17,313 | -€440 | -€17,753 | |
| Profit (loss) for the period | 9904 | €61,831 | -€38,700 | -€100,530 | |
| Profit (loss) for the period to be appropriated | 9905 | €61,831 | -€38,700 | -€100,530 |
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 9 October 2026 via checked.be.