ALFONS DRIESEN: 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.
ALFONS DRIESEN
Largest movements
- Current investments -€36,779
down €36,779 (-41.3%), from €88,988 to €52,209
- Stocks and contracts -€12,301
down €12,301 (-36.6%), from €33,574 to €21,273
of which Stocks: -€12,701
- Receivables within one year -€3,341
down €3,341 (-8.7%), from €38,477 to €35,136
of which Trade receivables: -€5,749
- Other debts -€33,848
down €33,848 (-72.2%), from €46,883 to €13,035
- Tax, wage and social debts -€10,197
down €10,197 (-91.5%), from €11,145 to €948
- Reserves -€3,430
down €3,430 (-1.7%), from €198,457 to €195,026
- Trade debts -€2,892
no longer reported in 2025 (was €2,892)
- Gross operating margin -€866
down €866 (-47.1%), from -€1,838 to -€2,705
- Other operating charges -€219
down €219 (-18.3%), from €1,194 to €976
- Financial income -€200
down €200 (-14.6%), from €1,367 to €1,167
- Taxes -€61
no longer reported in 2025 (was €61)
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 | €278,000 | €227,610 | -€50,390 | -18.1% |
| Current assets | 29/58 | €278,000 | €227,610 | -€50,390 | -18.1% |
| Stocks and contracts in progress | 3 | €33,574 | €21,273 | -€12,301 | -36.6% |
| Stocks | 30/36 | €27,874 | €15,173 | -€12,701 | -45.6% |
| Contracts in progress | 37 | €5,700 | €6,100 | +€400 | +7.0% |
| Amounts receivable within one year | 40/41 | €38,477 | €35,136 | -€3,341 | -8.7% |
| Trade receivables | 40 | €36,632 | €30,882 | -€5,749 | -15.7% |
| Other amounts receivable | 41 | €1,845 | €4,253 | +€2,408 | +131% |
| Current investments | 50/53 | €88,988 | €52,209 | -€36,779 | -41.3% |
| Cash at bank and in hand | 54/58 | €116,961 | €118,948 | +€1,987 | +1.7% |
| Deferred charges and accrued income | 490/1 | - | €43 | +€43 | |
| Total equity and liabilities | 10/49 | €278,000 | €227,610 | -€50,390 | -18.1% |
| Equity | 10/15 | €217,057 | €213,626 | -€3,430 | -1.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €198,457 | €195,026 | -€3,430 | -1.7% |
| Distributable reserves | 133 | €198,457 | €195,026 | -€3,430 | -1.7% |
| Amounts payable | 17/49 | €60,943 | €13,983 | -€46,960 | -77.1% |
| Amounts payable within one year | 42/48 | €60,920 | €13,983 | -€46,937 | -77.0% |
| Trade debts | 44 | €2,892 | - | -€2,892 | |
| Suppliers | 440/4 | €2,892 | - | -€2,892 | |
| Taxes, remuneration and social security | 45 | €11,145 | €948 | -€10,197 | -91.5% |
| Taxes | 450/3 | €11,145 | €948 | -€10,197 | -91.5% |
| Other amounts payable | 47/48 | €46,883 | €13,035 | -€33,848 | -72.2% |
| Accrued charges and deferred income | 492/3 | €23 | - | -€23 | |
| Other operating charges | 640/8 | €1,194 | €976 | -€219 | -18.3% |
| Gross operating margin | 9900 | -€1,838 | -€2,705 | -€866 | -47.1% |
| Operating profit (loss) | 9901 | -€3,033 | -€3,680 | -€648 | -21.4% |
| Financial income | 75/76B | €1,367 | €1,167 | -€200 | -14.6% |
| Recurring financial income | 75 | €1,367 | €1,167 | -€200 | -14.6% |
| Financial charges | 65/66B | €75 | €84 | +€9 | +12.1% |
| Recurring financial charges | 65 | €75 | €84 | +€9 | +12.1% |
| Profit (loss) for the period before taxes | 9903 | -€1,741 | -€2,597 | -€857 | -49.2% |
| Income taxes | 67/77 | €61 | - | -€61 | |
| Profit (loss) for the period | 9904 | -€1,802 | -€2,597 | -€796 | -44.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,802 | -€2,597 | -€796 | -44.2% |
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 23 October 2026 via checked.be.