ALGI: what changed
Two fiscal 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.
ALGI
Largest movements
- Receivables within one year -€751,905
down €751,905 (-73.0%), from €1.0m to €278,496
of which Trade receivables: -€708,682
- Tangible fixed assets -€345,689
down €345,689 (-15.0%), from €2.3m to €2.0m
of which Plant, machinery and equipment: -€265,349
- Stocks and contracts -€151,048
down €151,048 (-26.5%), from €570,193 to €419,145
- Cash -€106,681
down €106,681 (-68.6%), from €155,474 to €48,793
mainly Net result for the year (-€939,377) and Debts after one year (-€328,487)
- Reserves -€932,422
down €932,422 (-27.4%), from €3.4m to €2.5m
of which Distributable reserves: -€932,422
- Debts after one year -€328,487
down €328,487 (-9.5%), from €3.5m to €3.1m
- Other debts -€150,000
down €150,000 (-99.0%), from €151,534 to €1,534
- Trade debts +€112,991
up €112,991 (+18.7%), from €603,146 to €716,137
- Gross operating margin -€1.0m
down €1.0m (-51.9%), from €2.0m to €971,244
- Staff costs +€46,183
up €46,183 (+3.5%), from €1.3m to €1.4m
- Financial charges -€35,247
down €35,247 (-21.1%), from €166,777 to €131,530
- Depreciation -€27,034
down €27,034 (-6.6%), from €407,942 to €380,907
- Taxes -€23,363
no longer reported in 2025 (was €23,363)
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 | €8,571,997 | €7,217,214 | -€1.4m | -15.8% |
| Fixed assets | 21/28 | €6,796,949 | €6,450,300 | -€346,649 | -5.1% |
| Intangible fixed assets | 21 | €2,551 | €1,591 | -€960 | -37.6% |
| Tangible fixed assets | 22/27 | €2,300,202 | €1,954,513 | -€345,689 | -15.0% |
| Land and buildings | 22 | €683,917 | €646,085 | -€37,831 | -5.5% |
| Plant, machinery and equipment | 23 | €1,444,146 | €1,178,797 | -€265,349 | -18.4% |
| Furniture and vehicles | 24 | €171,338 | €128,990 | -€42,348 | -24.7% |
| Other tangible fixed assets | 26 | €800 | €640 | -€160 | -20.0% |
| Financial fixed assets | 28 | €4,494,196 | €4,494,196 | = | 0.0% |
| Current assets | 29/58 | €1,775,049 | €766,914 | -€1.0m | -56.8% |
| Stocks and contracts in progress | 3 | €570,193 | €419,145 | -€151,048 | -26.5% |
| Stocks | 30/36 | €570,193 | €419,145 | -€151,048 | -26.5% |
| Amounts receivable within one year | 40/41 | €1,030,401 | €278,496 | -€751,905 | -73.0% |
| Trade receivables | 40 | €969,186 | €260,504 | -€708,682 | -73.1% |
| Other amounts receivable | 41 | €61,215 | €17,992 | -€43,223 | -70.6% |
| Current investments | 50/53 | €3 | €3 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €155,474 | €48,793 | -€106,681 | -68.6% |
| Deferred charges and accrued income | 490/1 | €18,977 | €20,478 | +€1,500 | +7.9% |
| Total equity and liabilities | 10/49 | €8,571,997 | €7,217,214 | -€1.4m | -15.8% |
| Equity | 10/15 | €3,619,446 | €2,673,736 | -€945,710 | -26.1% |
| Contributions | 10/11 | €99,157 | €99,157 | = | 0.0% |
| Capital | 10 | €99,157 | €99,157 | = | 0.0% |
| Issued capital | 100 | €99,157 | €99,157 | = | 0.0% |
| Reserves | 13 | €3,407,269 | €2,474,847 | -€932,422 | -27.4% |
| Non-distributable reserves | 130/1 | €9,916 | €9,916 | = | 0.0% |
| Legal reserve | 130 | €9,916 | €9,916 | = | 0.0% |
| Distributable reserves | 133 | €3,397,353 | €2,464,931 | -€932,422 | -27.4% |
| Profit (loss) carried forward | 14 | €6,954 | - | -€6,954 | |
| Investment grants | 15 | €106,065 | €99,731 | -€6,334 | -6.0% |
| Provisions and deferred taxes | 16 | €35,355 | €33,244 | -€2,111 | -6.0% |
| Deferred taxes | 168 | €35,355 | €33,244 | -€2,111 | -6.0% |
| Amounts payable | 17/49 | €4,917,196 | €4,510,235 | -€406,961 | -8.3% |
| Amounts payable after more than one year | 17 | €3,459,426 | €3,130,939 | -€328,487 | -9.5% |
| Financial debts | 170/4 | €3,459,426 | €3,130,939 | -€328,487 | -9.5% |
| Amounts payable within one year | 42/48 | €1,457,770 | €1,379,296 | -€78,475 | -5.4% |
| Current portion of amounts payable after more than one year | 42 | €463,951 | €494,248 | +€30,297 | +6.5% |
| Trade debts | 44 | €603,146 | €716,137 | +€112,991 | +18.7% |
| Suppliers | 440/4 | €603,146 | €716,137 | +€112,991 | +18.7% |
| Taxes, remuneration and social security | 45 | €239,140 | €167,377 | -€71,763 | -30.0% |
| Taxes | 450/3 | €46,765 | €28,194 | -€18,571 | -39.7% |
| Remuneration and social security | 454/9 | €192,375 | €139,183 | -€53,192 | -27.7% |
| Other amounts payable | 47/48 | €151,534 | €1,534 | -€150,000 | -99.0% |
| Non-recurring operating income | 76A | - | €28,659 | +€28,659 | |
| Remuneration, social security and pensions | 62 | €1,330,099 | €1,376,283 | +€46,183 | +3.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €407,942 | €380,907 | -€27,034 | -6.6% |
| Other operating charges | 640/8 | €16,628 | €8,045 | -€8,583 | -51.6% |
| Non-recurring operating charges | 66A | €14,462 | €22,495 | +€8,033 | +55.5% |
| Gross operating margin | 9900 | €2,020,220 | €971,244 | -€1.0m | -51.9% |
| Operating profit (loss) | 9901 | €251,089 | -€816,487 | -€1.1m | |
| Financial income | 75/76B | €11,312 | €6,529 | -€4,783 | -42.3% |
| Recurring financial income | 75 | €11,312 | €6,529 | -€4,783 | -42.3% |
| Financial charges | 65/66B | €166,777 | €131,530 | -€35,247 | -21.1% |
| Recurring financial charges | 65 | €166,777 | €131,530 | -€35,247 | -21.1% |
| Profit (loss) for the period before taxes | 9903 | €95,625 | -€941,488 | -€1.0m | |
| Transfer from deferred taxes | 780 | €2,111 | €2,111 | = | 0.0% |
| Income taxes | 67/77 | €23,363 | - | -€23,363 | |
| Profit (loss) for the period | 9904 | €74,373 | -€939,377 | -€1.0m | |
| Profit (loss) for the period to be appropriated | 9905 | €74,373 | -€939,377 | -€1.0m |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.