ALG INVEST: 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.
ALG INVEST
Largest movements
- Receivables within one year -€194,621
down €194,621 (-79.5%), from €244,749 to €50,128
- Cash -€137,837
down €137,837 (-48.7%), from €283,043 to €145,207
mainly Other debts (-€374,364) and Debts after one year (-€214,951)
- Tangible fixed assets -€94,347
down €94,347 (-2.5%), from €3.8m to €3.7m
- Other debts -€374,364
down €374,364 (-58.5%), from €640,243 to €265,879
- Debts after one year -€214,951
down €214,951 (-6.2%), from €3.5m to €3.3m
- Reserves +€205,016
up €205,016 (+17.0%), from €1.2m to €1.4m
of which Distributable reserves: +€205,016
- Taxes +€13,031
up €13,031 (+23.4%), from €55,801 to €68,833
- Gross operating margin +€12,642
up €12,642 (+3.2%), from €398,969 to €411,611
- Other operating charges -€11,390
down €11,390 (-39.7%), from €28,675 to €17,285
- Financial charges -€8,793
down €8,793 (-7.9%), from €110,618 to €101,825
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 | €5,694,947 | €5,296,390 | -€398,558 | -7.0% |
| Fixed assets | 21/28 | €3,820,036 | €3,725,690 | -€94,347 | -2.5% |
| Tangible fixed assets | 22/27 | €3,815,036 | €3,720,690 | -€94,347 | -2.5% |
| Land and buildings | 22 | €3,815,036 | €3,720,690 | -€94,347 | -2.5% |
| Financial fixed assets | 28 | €5,000 | €5,000 | = | 0.0% |
| Current assets | 29/58 | €1,874,911 | €1,570,700 | -€304,211 | -16.2% |
| Amounts receivable after more than one year | 29 | €1,267,151 | €1,303,391 | +€36,240 | +2.9% |
| Other amounts receivable | 291 | €1,267,151 | €1,303,391 | +€36,240 | +2.9% |
| Amounts receivable within one year | 40/41 | €244,749 | €50,128 | -€194,621 | -79.5% |
| Other amounts receivable | 41 | €244,749 | €50,128 | -€194,621 | -79.5% |
| Cash at bank and in hand | 54/58 | €283,043 | €145,207 | -€137,837 | -48.7% |
| Deferred charges and accrued income | 490/1 | €79,968 | €71,975 | -€7,993 | -10.0% |
| Total equity and liabilities | 10/49 | €5,694,947 | €5,296,390 | -€398,558 | -7.0% |
| Equity | 10/15 | €1,206,498 | €1,411,514 | +€205,016 | +17.0% |
| Contributions | 10/11 | €2,622 | €2,622 | = | 0.0% |
| Reserves | 13 | €1,203,876 | €1,408,892 | +€205,016 | +17.0% |
| Non-distributable reserves | 130/1 | €960 | €960 | = | 0.0% |
| Reserves not available under the articles | 1311 | €960 | €960 | = | 0.0% |
| Tax-exempt reserves | 132 | €147,350 | €147,350 | = | 0.0% |
| Distributable reserves | 133 | €1,055,566 | €1,260,582 | +€205,016 | +19.4% |
| Amounts payable | 17/49 | €4,488,450 | €3,884,876 | -€603,573 | -13.4% |
| Amounts payable after more than one year | 17 | €3,478,925 | €3,263,974 | -€214,951 | -6.2% |
| Financial debts | 170/4 | €3,478,925 | €3,263,974 | -€214,951 | -6.2% |
| Amounts payable within one year | 42/48 | €932,178 | €547,943 | -€384,235 | -41.2% |
| Current portion of amounts payable after more than one year | 42 | €275,808 | €275,808 | = | 0.0% |
| Trade debts | 44 | €109 | €1,793 | +€1,684 | +1,547% |
| Suppliers | 440/4 | €109 | €1,793 | +€1,684 | +1,547% |
| Taxes, remuneration and social security | 45 | €16,018 | €4,462 | -€11,556 | -72.1% |
| Taxes | 450/3 | €16,018 | €4,462 | -€11,556 | -72.1% |
| Other amounts payable | 47/48 | €640,243 | €265,879 | -€374,364 | -58.5% |
| Accrued charges and deferred income | 492/3 | €77,346 | €72,959 | -€4,387 | -5.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €94,346 | €94,347 | +€0 | 0.0% |
| Other operating charges | 640/8 | €28,675 | €17,285 | -€11,390 | -39.7% |
| Non-recurring operating charges | 66A | €21,491 | €0 | -€21,491 | -100% |
| Gross operating margin | 9900 | €398,969 | €411,611 | +€12,642 | +3.2% |
| Operating profit (loss) | 9901 | €254,456 | €299,979 | +€45,523 | +17.9% |
| Financial income | 75/76B | €79,367 | €75,694 | -€3,673 | -4.6% |
| Recurring financial income | 75 | €79,367 | €75,694 | -€3,673 | -4.6% |
| Financial charges | 65/66B | €110,618 | €101,825 | -€8,793 | -7.9% |
| Recurring financial charges | 65 | €110,618 | €101,825 | -€8,793 | -7.9% |
| Profit (loss) for the period before taxes | 9903 | €223,205 | €273,848 | +€50,643 | +22.7% |
| Income taxes | 67/77 | €55,801 | €68,833 | +€13,031 | +23.4% |
| Profit (loss) for the period | 9904 | €167,404 | €205,016 | +€37,612 | +22.5% |
| Transfer to tax-exempt reserves | 689 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €167,404 | €205,016 | +€37,612 | +22.5% |
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 29 October 2026 via checked.be.