ALEXANDER DEGROOTE: 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.
ALEXANDER DEGROOTE
Largest movements
- Tangible fixed assets +€127,046
up €127,046 (+706%), from €18,001 to €145,048
of which Furniture and vehicles: +€101,566
- Receivables within one year +€83,449
up €83,449 (+1,451%), from €5,752 to €89,201
of which Other amounts receivable: +€84,336
- Cash +€49,803
up €49,803 (+91.2%), from €54,636 to €104,439
mainly Net result for the year (+€235,077) and Debts after one year (+€126,187)
- Current investments -€10,000
down €10,000 (-9.1%), from €110,000 to €100,000
- Debts after one year +€126,187
new in 2025: €126,187
- Reserves +€78,662
up €78,662 (+50.3%), from €156,415 to €235,077
- Current portion of long-term debt +€36,204
new in 2025: €36,204
- Tax, wage and social debts +€9,341
up €9,341 (+77.2%), from €12,100 to €21,441
- Gross operating margin +€128,277
up €128,277 (+62.1%), from €206,489 to €334,766
- Taxes +€26,657
up €26,657 (+54.1%), from €49,283 to €75,940
- Depreciation +€22,241
up €22,241 (+1,949%), from €1,141 to €23,382
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 | €190,639 | €443,507 | +€252,867 | +133% |
| Fixed assets | 21/28 | €18,001 | €145,048 | +€127,046 | +706% |
| Tangible fixed assets | 22/27 | €18,001 | €145,048 | +€127,046 | +706% |
| Plant, machinery and equipment | 23 | €1,264 | €6,744 | +€5,481 | +434% |
| Furniture and vehicles | 24 | €16,738 | €118,304 | +€101,566 | +607% |
| Other tangible fixed assets | 26 | - | €20,000 | +€20,000 | |
| Current assets | 29/58 | €172,638 | €298,459 | +€125,821 | +72.9% |
| Amounts receivable within one year | 40/41 | €5,752 | €89,201 | +€83,449 | +1,451% |
| Trade receivables | 40 | €5,325 | €4,437 | -€888 | -16.7% |
| Other amounts receivable | 41 | €427 | €84,764 | +€84,336 | +19,730% |
| Current investments | 50/53 | €110,000 | €100,000 | -€10,000 | -9.1% |
| Cash at bank and in hand | 54/58 | €54,636 | €104,439 | +€49,803 | +91.2% |
| Deferred charges and accrued income | 490/1 | €2,249 | €4,819 | +€2,570 | +114% |
| Total equity and liabilities | 10/49 | €190,639 | €443,507 | +€252,867 | +133% |
| Equity | 10/15 | €175,015 | €253,677 | +€78,662 | +44.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €156,415 | €235,077 | +€78,662 | +50.3% |
| Distributable reserves | 133 | €156,415 | €235,077 | +€78,662 | +50.3% |
| Amounts payable | 17/49 | €15,625 | €189,830 | +€174,205 | +1,115% |
| Amounts payable after more than one year | 17 | - | €126,187 | +€126,187 | |
| Financial debts | 170/4 | - | €126,187 | +€126,187 | |
| Amounts payable within one year | 42/48 | €15,625 | €61,346 | +€45,721 | +293% |
| Current portion of amounts payable after more than one year | 42 | - | €36,204 | +€36,204 | |
| Trade debts | 44 | €2,590 | €3,701 | +€1,111 | +42.9% |
| Suppliers | 440/4 | €2,590 | €3,701 | +€1,111 | +42.9% |
| Taxes, remuneration and social security | 45 | €12,100 | €21,441 | +€9,341 | +77.2% |
| Taxes | 450/3 | €12,100 | €21,441 | +€9,341 | +77.2% |
| Other amounts payable | 47/48 | €934 | - | -€934 | |
| Accrued charges and deferred income | 492/3 | - | €2,297 | +€2,297 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,141 | €23,382 | +€22,241 | +1,949% |
| Other operating charges | 640/8 | €126 | €128 | +€2 | +1.6% |
| Gross operating margin | 9900 | €206,489 | €334,766 | +€128,277 | +62.1% |
| Operating profit (loss) | 9901 | €205,221 | €311,255 | +€106,034 | +51.7% |
| Financial income | 75/76B | €612 | €2,767 | +€2,155 | +352% |
| Recurring financial income | 75 | €612 | €2,767 | +€2,155 | +352% |
| Financial charges | 65/66B | €135 | €3,006 | +€2,870 | +2,123% |
| Recurring financial charges | 65 | €135 | €3,006 | +€2,870 | +2,123% |
| Profit (loss) for the period before taxes | 9903 | €205,698 | €311,017 | +€105,319 | +51.2% |
| Income taxes | 67/77 | €49,283 | €75,940 | +€26,657 | +54.1% |
| Profit (loss) for the period | 9904 | €156,415 | €235,077 | +€78,662 | +50.3% |
| Profit (loss) for the period to be appropriated | 9905 | €156,415 | €235,077 | +€78,662 | +50.3% |
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 21 October 2026 via checked.be.