ALEX CONSTRUCT: what changed
Two fiscal 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 CONSTRUCT
Largest movements
- Tangible fixed assets +€40,279
up €40,279 (+3869.3%), from €1,041 to €41,320
- Receivables within one year +€30,624
up €30,624 (+24.7%), from €124,126 to €154,750
of which Trade receivables: +€30,208
- Cash +€3,207
up €3,207 (+74.7%), from €4,291 to €7,498
mainly Net result for the year (+€74,275) and Tax, wage and social debts (+€27,867)
- Profit (loss) carried forward +€74,276
up €74,276 (+227.1%), from €32,708 to €106,984
- Other debts -€57,759
down €57,759 (-73.4%), from €78,639 to €20,880
- Tax, wage and social debts +€27,867
up €27,867 (+230.1%), from €12,111 to €39,978
of which Taxes: +€26,167
- Current portion of long-term debt +€17,435
new in 2025: €17,435
- Debts after one year +€7,496
new in 2025: €7,496
- Gross operating margin +€87,498
up €87,498 (+277.6%), from €31,523 to €119,021
- Taxes +€20,999
up €20,999 (+260.9%), from €8,049 to €29,048
- Depreciation +€9,407
up €9,407 (+716.5%), from €1,313 to €10,720
- Financial charges +€1,943
up €1,943 (+131.6%), from €1,477 to €3,420
- Other operating charges +€1,558
new in 2025: €1,558
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 | €129,458 | €203,568 | +€74,110 | +57.2% |
| Fixed assets | 21/28 | €1,041 | €41,320 | +€40,279 | +3869.3% |
| Tangible fixed assets | 22/27 | €1,041 | €41,320 | +€40,279 | +3869.3% |
| Furniture and vehicles | 24 | €1,041 | €41,320 | +€40,279 | +3869.3% |
| Current assets | 29/58 | €128,417 | €162,248 | +€33,831 | +26.3% |
| Amounts receivable within one year | 40/41 | €124,126 | €154,750 | +€30,624 | +24.7% |
| Trade receivables | 40 | €123,057 | €153,265 | +€30,208 | +24.5% |
| Other amounts receivable | 41 | €1,069 | €1,485 | +€416 | +38.9% |
| Cash at bank and in hand | 54/58 | €4,291 | €7,498 | +€3,207 | +74.7% |
| Total equity and liabilities | 10/49 | €129,458 | €203,568 | +€74,110 | +57.2% |
| Equity | 10/15 | €38,708 | €112,984 | +€74,276 | +191.9% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €32,708 | €106,984 | +€74,276 | +227.1% |
| Amounts payable | 17/49 | €90,750 | €90,584 | -€166 | -0.2% |
| Amounts payable after more than one year | 17 | - | €7,496 | +€7,496 | |
| Financial debts | 170/4 | - | €7,496 | +€7,496 | |
| Amounts payable within one year | 42/48 | €90,750 | €83,088 | -€7,662 | -8.4% |
| Current portion of amounts payable after more than one year | 42 | - | €17,435 | +€17,435 | |
| Trade debts | 44 | - | €4,795 | +€4,795 | |
| Suppliers | 440/4 | - | €4,795 | +€4,795 | |
| Taxes, remuneration and social security | 45 | €12,111 | €39,978 | +€27,867 | +230.1% |
| Taxes | 450/3 | €10,711 | €36,878 | +€26,167 | +244.3% |
| Remuneration and social security | 454/9 | €1,400 | €3,100 | +€1,700 | +121.4% |
| Other amounts payable | 47/48 | €78,639 | €20,880 | -€57,759 | -73.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,313 | €10,720 | +€9,407 | +716.5% |
| Other operating charges | 640/8 | - | €1,558 | +€1,558 | |
| Gross operating margin | 9900 | €31,523 | €119,021 | +€87,498 | +277.6% |
| Operating profit (loss) | 9901 | €30,210 | €106,743 | +€76,533 | +253.3% |
| Financial charges | 65/66B | €1,477 | €3,420 | +€1,943 | +131.6% |
| Recurring financial charges | 65 | €1,477 | €3,420 | +€1,943 | +131.6% |
| Profit (loss) for the period before taxes | 9903 | €28,733 | €103,323 | +€74,590 | +259.6% |
| Income taxes | 67/77 | €8,049 | €29,048 | +€20,999 | +260.9% |
| Profit (loss) for the period | 9904 | €20,684 | €74,275 | +€53,591 | +259.1% |
| Profit (loss) for the period to be appropriated | 9905 | €20,684 | €74,275 | +€53,591 | +259.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.