ALEX: 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.
ALEX
Largest movements
- Receivables within one year -€12,373
down €12,373 (-55.9%), from €22,139 to €9,766
of which Trade receivables: -€10,833
- Stocks and contracts -€828
down €828 (-16.1%), from €5,153 to €4,325
- Profit (loss) carried forward -€14,257
down €14,257, from €3,496 to -€10,762
- Other debts -€2,638
down €2,638 (-11.4%), from €23,124 to €20,486
- Trade debts +€1,969
up €1,969 (+63.8%), from €3,089 to €5,058
- Tax, wage and social debts +€1,692
up €1,692 (+62.2%), from €2,722 to €4,414
- Gross operating margin -€18,745
down €18,745, from €7,041 to -€11,704
- Taxes -€752
no longer reported in 2025 (was €752)
- Staff costs -€303
no longer reported in 2025 (was €303)
- Depreciation -€180
down €180 (-6.7%), from €2,689 to €2,508
- Financial charges -€125
down €125 (-73.5%), from €170 to €45
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 | €39,430 | €26,196 | -€13,234 | -33.6% |
| Fixed assets | 21/28 | €4,503 | €4,654 | +€151 | +3.4% |
| Tangible fixed assets | 22/27 | €4,503 | €4,654 | +€151 | +3.4% |
| Plant, machinery and equipment | 23 | €4,088 | €4,362 | +€274 | +6.7% |
| Other tangible fixed assets | 26 | €415 | €293 | -€123 | -29.5% |
| Current assets | 29/58 | €34,927 | €21,542 | -€13,385 | -38.3% |
| Stocks and contracts in progress | 3 | €5,153 | €4,325 | -€828 | -16.1% |
| Stocks | 30/36 | €5,153 | €4,325 | -€828 | -16.1% |
| Amounts receivable within one year | 40/41 | €22,139 | €9,766 | -€12,373 | -55.9% |
| Trade receivables | 40 | €13,372 | €2,540 | -€10,833 | -81.0% |
| Other amounts receivable | 41 | €8,767 | €7,226 | -€1,540 | -17.6% |
| Cash at bank and in hand | 54/58 | €6,641 | €6,426 | -€215 | -3.2% |
| Deferred charges and accrued income | 490/1 | €995 | €1,025 | +€31 | +3.1% |
| Total equity and liabilities | 10/49 | €39,430 | €26,196 | -€13,234 | -33.6% |
| Equity | 10/15 | €10,496 | -€3,762 | -€14,257 | |
| Contributions | 10/11 | €7,000 | €7,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €3,496 | -€10,762 | -€14,257 | |
| Amounts payable | 17/49 | €28,935 | €29,958 | +€1,023 | +3.5% |
| Amounts payable within one year | 42/48 | €28,935 | €29,958 | +€1,023 | +3.5% |
| Trade debts | 44 | €3,089 | €5,058 | +€1,969 | +63.8% |
| Suppliers | 440/4 | €3,089 | €5,058 | +€1,969 | +63.8% |
| Taxes, remuneration and social security | 45 | €2,722 | €4,414 | +€1,692 | +62.2% |
| Taxes | 450/3 | €2,722 | €4,414 | +€1,692 | +62.2% |
| Other amounts payable | 47/48 | €23,124 | €20,486 | -€2,638 | -11.4% |
| Remuneration, social security and pensions | 62 | €303 | - | -€303 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,689 | €2,508 | -€180 | -6.7% |
| Other operating charges | 640/8 | €93 | - | -€93 | |
| Gross operating margin | 9900 | €7,041 | -€11,704 | -€18,745 | |
| Operating profit (loss) | 9901 | €3,956 | -€14,213 | -€18,168 | |
| Financial income | 75/76B | €3 | €1 | -€2 | -73.5% |
| Recurring financial income | 75 | €3 | €1 | -€2 | -73.5% |
| Financial charges | 65/66B | €170 | €45 | -€125 | -73.5% |
| Recurring financial charges | 65 | €170 | €45 | -€125 | -73.5% |
| Profit (loss) for the period before taxes | 9903 | €3,789 | -€14,257 | -€18,046 | |
| Income taxes | 67/77 | €752 | - | -€752 | |
| Profit (loss) for the period | 9904 | €3,037 | -€14,257 | -€17,294 | |
| Profit (loss) for the period to be appropriated | 9905 | €3,037 | -€14,257 | -€17,294 |
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 17 October 2026 via checked.be.