ALF RESTO: 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.
ALF RESTO
Largest movements
- Deferred charges and accrued income +€19,411
up €19,411 (+25.3%), from €76,817 to €96,227
- Cash +€18,911
up €18,911 (+126%), from €14,996 to €33,907
mainly Tax, wage and social debts (+€28,178) and Receivables within one year (+€17,387)
- Receivables within one year -€17,387
down €17,387 (-8.3%), from €210,566 to €193,178
of which Trade receivables: -€51,298
- Tangible fixed assets +€9,110
up €9,110 (+40.2%), from €22,637 to €31,746
of which Plant, machinery and equipment: +€15,649
- Stocks and contracts +€4,391
up €4,391 (+105%), from €4,169 to €8,559
- Tax, wage and social debts +€28,178
up €28,178 (+22.0%), from €128,201 to €156,379
of which Taxes: +€46,564
- Debts after one year -€11,989
down €11,989 (-51.0%), from €23,513 to €11,524
- Trade debts +€10,213
up €10,213 (+101%), from €10,075 to €20,287
- Profit (loss) carried forward +€5,055
up €5,055 (+6.2%), from €81,231 to €86,286
- Staff costs -€152,882
down €152,882 (-48.3%), from €316,683 to €163,802
- Gross operating margin -€125,653
down €125,653 (-33.1%), from €379,398 to €253,746
- Other operating charges +€43,092
up €43,092 (+704%), from €6,122 to €49,214
- Taxes -€7,861
down €7,861 (-61.8%), from €12,729 to €4,868
- Financial charges -€5,925
down €5,925 (-30.5%), from €19,454 to €13,529
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 | €350,183 | €384,618 | +€34,435 | +9.8% |
| Fixed assets | 21/28 | €43,637 | €52,746 | +€9,110 | +20.9% |
| Tangible fixed assets | 22/27 | €22,637 | €31,746 | +€9,110 | +40.2% |
| Land and buildings | 22 | €10,773 | €8,256 | -€2,517 | -23.4% |
| Plant, machinery and equipment | 23 | €7,053 | €22,703 | +€15,649 | +222% |
| Furniture and vehicles | 24 | €4,810 | €788 | -€4,023 | -83.6% |
| Financial fixed assets | 28 | €21,000 | €21,000 | = | 0.0% |
| Current assets | 29/58 | €306,547 | €331,872 | +€25,326 | +8.3% |
| Stocks and contracts in progress | 3 | €4,169 | €8,559 | +€4,391 | +105% |
| Stocks | 30/36 | €4,169 | €8,559 | +€4,391 | +105% |
| Amounts receivable within one year | 40/41 | €210,566 | €193,178 | -€17,387 | -8.3% |
| Trade receivables | 40 | €51,298 | - | -€51,298 | |
| Other amounts receivable | 41 | €159,267 | €193,178 | +€33,911 | +21.3% |
| Cash at bank and in hand | 54/58 | €14,996 | €33,907 | +€18,911 | +126% |
| Deferred charges and accrued income | 490/1 | €76,817 | €96,227 | +€19,411 | +25.3% |
| Total equity and liabilities | 10/49 | €350,183 | €384,618 | +€34,435 | +9.8% |
| Equity | 10/15 | €101,691 | €106,746 | +€5,055 | +5.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €81,231 | €86,286 | +€5,055 | +6.2% |
| Amounts payable | 17/49 | €248,492 | €277,872 | +€29,380 | +11.8% |
| Amounts payable after more than one year | 17 | €23,513 | €11,524 | -€11,989 | -51.0% |
| Financial debts | 170/4 | €23,513 | €11,524 | -€11,989 | -51.0% |
| Amounts payable within one year | 42/48 | €224,980 | €266,348 | +€41,369 | +18.4% |
| Current portion of amounts payable after more than one year | 42 | €14,658 | €16,195 | +€1,536 | +10.5% |
| Financial debts | 43 | €14,254 | €16,683 | +€2,429 | +17.0% |
| Credit institutions | 430/8 | €14,254 | €16,683 | +€2,429 | +17.0% |
| Trade debts | 44 | €10,075 | €20,287 | +€10,213 | +101% |
| Suppliers | 440/4 | €10,075 | €20,287 | +€10,213 | +101% |
| Taxes, remuneration and social security | 45 | €128,201 | €156,379 | +€28,178 | +22.0% |
| Taxes | 450/3 | €87,211 | €133,775 | +€46,564 | +53.4% |
| Remuneration and social security | 454/9 | €40,990 | €22,604 | -€18,386 | -44.9% |
| Other amounts payable | 47/48 | €57,792 | €56,804 | -€988 | -1.7% |
| Remuneration, social security and pensions | 62 | €316,683 | €163,802 | -€152,882 | -48.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,517 | €13,573 | +€1,056 | +8.4% |
| Other operating charges | 640/8 | €6,122 | €49,214 | +€43,092 | +704% |
| Non-recurring operating charges | 66A | - | €6,236 | +€6,236 | |
| Gross operating margin | 9900 | €379,398 | €253,746 | -€125,653 | -33.1% |
| Operating profit (loss) | 9901 | €44,076 | €20,921 | -€23,155 | -52.5% |
| Financial income | 75/76B | €2 | €2,531 | +€2,529 | +117,086% |
| Recurring financial income | 75 | €2 | €2,531 | +€2,529 | +117,086% |
| Financial charges | 65/66B | €19,454 | €13,529 | -€5,925 | -30.5% |
| Recurring financial charges | 65 | €19,454 | €13,529 | -€5,925 | -30.5% |
| Profit (loss) for the period before taxes | 9903 | €24,624 | €9,923 | -€14,701 | -59.7% |
| Income taxes | 67/77 | €12,729 | €4,868 | -€7,861 | -61.8% |
| Profit (loss) for the period | 9904 | €11,896 | €5,055 | -€6,840 | -57.5% |
| Profit (loss) for the period to be appropriated | 9905 | €11,896 | €5,055 | -€6,840 | -57.5% |
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 28 October 2026 via checked.be.