ALEX World: 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 World
Largest movements
- Receivables within one year +€128,757
up €128,757 (+770.9%), from €16,702 to €145,459
of which Trade receivables: +€110,287
- Cash -€23,085
down €23,085 (-18.1%), from €127,528 to €104,443
mainly Receivables within one year (-€128,757)
- Profit (loss) carried forward +€75,577
up €75,577 (+67.3%), from €112,332 to €187,909
- Tax, wage and social debts +€19,154
up €19,154 (+60.3%), from €31,774 to €50,928
- Trade debts +€9,338
up €9,338 (+4713.0%), from €198 to €9,536
- Gross operating margin -€49,883
down €49,883 (-34.0%), from €146,769 to €96,885
- Taxes -€12,621
down €12,621 (-39.7%), from €31,774 to €19,154
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 | €147,304 | €251,373 | +€104,069 | +70.6% |
| Fixed assets | 21/28 | €3,074 | €1,471 | -€1,603 | -52.1% |
| Tangible fixed assets | 22/27 | €3,074 | €1,471 | -€1,603 | -52.1% |
| Furniture and vehicles | 24 | €3,074 | €1,471 | -€1,603 | -52.1% |
| Current assets | 29/58 | €144,230 | €249,902 | +€105,672 | +73.3% |
| Amounts receivable within one year | 40/41 | €16,702 | €145,459 | +€128,757 | +770.9% |
| Trade receivables | 40 | €7,560 | €117,847 | +€110,287 | +1458.8% |
| Other amounts receivable | 41 | €9,142 | €27,612 | +€18,470 | +202.0% |
| Cash at bank and in hand | 54/58 | €127,528 | €104,443 | -€23,085 | -18.1% |
| Total equity and liabilities | 10/49 | €147,304 | €251,373 | +€104,069 | +70.6% |
| Equity | 10/15 | €115,332 | €190,909 | +€75,577 | +65.5% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €112,332 | €187,909 | +€75,577 | +67.3% |
| Amounts payable | 17/49 | €31,972 | €60,464 | +€28,492 | +89.1% |
| Amounts payable within one year | 42/48 | €31,972 | €60,464 | +€28,492 | +89.1% |
| Trade debts | 44 | €198 | €9,536 | +€9,338 | +4713.0% |
| Suppliers | 440/4 | €198 | €9,536 | +€9,338 | +4713.0% |
| Taxes, remuneration and social security | 45 | €31,774 | €50,928 | +€19,154 | +60.3% |
| Taxes | 450/3 | €31,774 | €50,928 | +€19,154 | +60.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,735 | €1,603 | -€132 | -7.6% |
| Other operating charges | 640/8 | €890 | €520 | -€370 | -41.6% |
| Gross operating margin | 9900 | €146,769 | €96,885 | -€49,883 | -34.0% |
| Operating profit (loss) | 9901 | €144,143 | €94,762 | -€49,381 | -34.3% |
| Financial income | 75/76B | €114 | €429 | +€315 | +275.7% |
| Recurring financial income | 75 | €114 | €429 | +€315 | +275.7% |
| Financial charges | 65/66B | €152 | €461 | +€309 | +203.5% |
| Recurring financial charges | 65 | €152 | €461 | +€309 | +203.5% |
| Profit (loss) for the period before taxes | 9903 | €144,106 | €94,731 | -€49,375 | -34.3% |
| Income taxes | 67/77 | €31,774 | €19,154 | -€12,621 | -39.7% |
| Profit (loss) for the period | 9904 | €112,332 | €75,577 | -€36,754 | -32.7% |
| Profit (loss) for the period to be appropriated | 9905 | €112,332 | €75,577 | -€36,754 | -32.7% |
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 10 October 2026 via checked.be.