ALGOET BART: 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.
ALGOET BART
Largest movements
- Tangible fixed assets -€72,326
down €72,326 (-43.2%), from €167,306 to €94,981
of which Land and buildings: -€60,775
- Cash +€16,792
up €16,792 (+63.1%), from €26,621 to €43,414
mainly Investment in fixed assets (net) (+€44,457) and Depreciation (+€27,869)
- Receivables within one year +€3,409
up €3,409 (+363.6%), from €938 to €4,346
- Deferred charges and accrued income -€2,519
down €2,519 (-58.5%), from €4,310 to €1,791
- Debts after one year -€32,715
no longer reported in 2025 (was €32,715)
- Current portion of long-term debt -€18,499
down €18,499 (-59.9%), from €30,908 to €12,409
- Other debts -€6,231
down €6,231 (-95.9%), from €6,496 to €264
- Reserves +€2,572
up €2,572 (+2.7%), from €93,652 to €96,223
of which Distributable reserves: +€1,513
- Gross operating margin -€13,788
down €13,788 (-20.1%), from €68,631 to €54,843
- Depreciation -€13,556
down €13,556 (-32.7%), from €41,425 to €27,869
- Taxes -€4,419
down €4,419 (-69.3%), from €6,379 to €1,960
- Staff costs -€1,714
down €1,714 (-88.5%), from €1,937 to €223
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 | €199,175 | €144,531 | -€54,644 | -27.4% |
| Fixed assets | 21/28 | €167,306 | €94,981 | -€72,326 | -43.2% |
| Tangible fixed assets | 22/27 | €167,306 | €94,981 | -€72,326 | -43.2% |
| Land and buildings | 22 | €113,108 | €52,333 | -€60,775 | -53.7% |
| Plant, machinery and equipment | 23 | €9,158 | €5,278 | -€3,881 | -42.4% |
| Furniture and vehicles | 24 | €45,041 | €37,370 | -€7,670 | -17.0% |
| Current assets | 29/58 | €31,869 | €49,551 | +€17,682 | +55.5% |
| Amounts receivable within one year | 40/41 | €938 | €4,346 | +€3,409 | +363.6% |
| Other amounts receivable | 41 | €938 | €4,346 | +€3,409 | +363.6% |
| Cash at bank and in hand | 54/58 | €26,621 | €43,414 | +€16,792 | +63.1% |
| Deferred charges and accrued income | 490/1 | €4,310 | €1,791 | -€2,519 | -58.5% |
| Total equity and liabilities | 10/49 | €199,175 | €144,531 | -€54,644 | -27.4% |
| Equity | 10/15 | €128,652 | €131,223 | +€2,572 | +2.0% |
| Contributions | 10/11 | €35,000 | €35,000 | = | 0.0% |
| Reserves | 13 | €93,652 | €96,223 | +€2,572 | +2.7% |
| Tax-exempt reserves | 132 | €2,188 | €3,247 | +€1,059 | +48.4% |
| Distributable reserves | 133 | €91,464 | €92,976 | +€1,513 | +1.7% |
| Amounts payable | 17/49 | €70,524 | €13,308 | -€57,216 | -81.1% |
| Amounts payable after more than one year | 17 | €32,715 | - | -€32,715 | |
| Financial debts | 170/4 | €32,715 | - | -€32,715 | |
| Amounts payable within one year | 42/48 | €37,809 | €13,308 | -€24,501 | -64.8% |
| Current portion of amounts payable after more than one year | 42 | €30,908 | €12,409 | -€18,499 | -59.9% |
| Trade debts | 44 | €405 | €635 | +€229 | +56.5% |
| Suppliers | 440/4 | €405 | €635 | +€229 | +56.5% |
| Other amounts payable | 47/48 | €6,496 | €264 | -€6,231 | -95.9% |
| Remuneration, social security and pensions | 62 | €1,937 | €223 | -€1,714 | -88.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,425 | €27,869 | -€13,556 | -32.7% |
| Other operating charges | 640/8 | €1,722 | €1,447 | -€275 | -16.0% |
| Non-recurring operating charges | 66A | - | €19,561 | +€19,561 | |
| Gross operating margin | 9900 | €68,631 | €54,843 | -€13,788 | -20.1% |
| Operating profit (loss) | 9901 | €23,547 | €5,743 | -€17,804 | -75.6% |
| Financial income | 75/76B | €106 | €217 | +€111 | +104.9% |
| Recurring financial income | 75 | €106 | €217 | +€111 | +104.9% |
| Financial charges | 65/66B | €1,803 | €1,428 | -€375 | -20.8% |
| Recurring financial charges | 65 | €1,803 | €1,428 | -€375 | -20.8% |
| Profit (loss) for the period before taxes | 9903 | €21,850 | €4,532 | -€17,318 | -79.3% |
| Income taxes | 67/77 | €6,379 | €1,960 | -€4,419 | -69.3% |
| Profit (loss) for the period | 9904 | €15,470 | €2,572 | -€12,898 | -83.4% |
| Transfer to tax-exempt reserves | 689 | €1,059 | €1,059 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €14,411 | €1,513 | -€12,898 | -89.5% |
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 8 October 2026 via checked.be.