ALEX 10: 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 10
Largest movements
- Receivables within one year +€34,327
up €34,327 (+2,066%), from €1,661 to €35,988
of which Other amounts receivable: +€33,536
- Deferred charges and accrued income +€14,639
new in 2025: €14,639
- Cash -€6,204
down €6,204 (-93.2%), from €6,658 to €455
mainly Receivables within one year (-€34,327) and Deferred charges and accrued income (-€14,639)
- Reserves +€37,785
up €37,785 (+32.5%), from €116,296 to €154,081
of which Distributable reserves: +€37,785
- Other debts -€14,463
no longer reported in 2025 (was €14,463)
- Tax, wage and social debts +€10,115
up €10,115 (+47.0%), from €21,518 to €31,633
- Trade debts +€9,326
up €9,326 (+74.9%), from €12,443 to €21,768
- Gross operating margin +€48,677
up €48,677 (+1,058%), from €4,601 to €53,278
- Taxes +€14,558
up €14,558 (+2,890%), from €504 to €15,061
- Financial charges -€864
down €864 (-63.6%), from €1,359 to €495
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 | €183,320 | €226,082 | +€42,763 | +23.3% |
| Current assets | 29/58 | €183,320 | €226,082 | +€42,763 | +23.3% |
| Amounts receivable after more than one year | 29 | €175,000 | €175,000 | = | 0.0% |
| Other amounts receivable | 291 | €175,000 | €175,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €1,661 | €35,988 | +€34,327 | +2,066% |
| Trade receivables | 40 | - | €791 | +€791 | |
| Other amounts receivable | 41 | €1,661 | €35,198 | +€33,536 | +2,019% |
| Cash at bank and in hand | 54/58 | €6,658 | €455 | -€6,204 | -93.2% |
| Deferred charges and accrued income | 490/1 | - | €14,639 | +€14,639 | |
| Total equity and liabilities | 10/49 | €183,320 | €226,082 | +€42,763 | +23.3% |
| Equity | 10/15 | €134,896 | €172,681 | +€37,785 | +28.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €116,296 | €154,081 | +€37,785 | +32.5% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €114,436 | €152,221 | +€37,785 | +33.0% |
| Amounts payable | 17/49 | €48,424 | €53,402 | +€4,978 | +10.3% |
| Amounts payable within one year | 42/48 | €48,424 | €53,402 | +€4,978 | +10.3% |
| Trade debts | 44 | €12,443 | €21,768 | +€9,326 | +74.9% |
| Suppliers | 440/4 | €12,443 | €21,768 | +€9,326 | +74.9% |
| Taxes, remuneration and social security | 45 | €21,518 | €31,633 | +€10,115 | +47.0% |
| Taxes | 450/3 | €21,518 | €31,633 | +€10,115 | +47.0% |
| Other amounts payable | 47/48 | €14,463 | - | -€14,463 | |
| Non-recurring operating income | 76A | €303 | €850 | +€547 | +181% |
| Non-recurring operating charges | 66A | €1,500 | - | -€1,500 | |
| Gross operating margin | 9900 | €4,601 | €53,278 | +€48,677 | +1,058% |
| Operating profit (loss) | 9901 | €3,101 | €53,278 | +€50,177 | +1,618% |
| Financial income | 75/76B | €1 | €63 | +€62 | +11,150% |
| Recurring financial income | 75 | €1 | €63 | +€62 | +11,150% |
| Financial charges | 65/66B | €1,359 | €495 | -€864 | -63.6% |
| Recurring financial charges | 65 | €1,359 | €495 | -€864 | -63.6% |
| Profit (loss) for the period before taxes | 9903 | €1,742 | €52,846 | +€51,104 | +2,933% |
| Income taxes | 67/77 | €504 | €15,061 | +€14,558 | +2,890% |
| Profit (loss) for the period | 9904 | €1,239 | €37,785 | +€36,546 | +2,950% |
| Profit (loss) for the period to be appropriated | 9905 | €1,239 | €37,785 | +€36,546 | +2,950% |
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 27 October 2026 via checked.be.