ALGOL: 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.
ALGOL
Largest movements
- Receivables within one year -€84,524
down €84,524 (-55.5%), from €152,234 to €67,710
of which Trade receivables: -€85,899
- Tangible fixed assets +€34,644
new in 2025: €34,644
- Cash +€11,887
up €11,887 (+6.6%), from €179,733 to €191,620
mainly Receivables within one year (+€84,524) and Net result for the year (+€41,491)
- Other debts -€51,491
down €51,491 (-87.6%), from €58,812 to €7,321
- Reserves +€36,455
up €36,455 (+17.7%), from €205,807 to €242,261
of which Distributable reserves: +€36,455
- Tax, wage and social debts -€33,071
down €33,071 (-66.3%), from €49,907 to €16,836
- Trade debts +€16,923
up €16,923 (+675.0%), from €2,507 to €19,430
- Accrued charges and deferred income -€3,621
down €3,621 (-96.6%), from €3,750 to €129
- Gross operating margin -€223,034
down €223,034 (-76.3%), from €292,493 to €69,459
- Taxes -€73,323
down €73,323 (-80.5%), from €91,094 to €17,770
- Depreciation +€8,308
new in 2025: €8,308
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 | €332,588 | €297,818 | -€34,769 | -10.5% |
| Fixed assets | 21/28 | - | €34,644 | +€34,644 | |
| Tangible fixed assets | 22/27 | - | €34,644 | +€34,644 | |
| Furniture and vehicles | 24 | - | €34,644 | +€34,644 | |
| Current assets | 29/58 | €332,588 | €263,175 | -€69,413 | -20.9% |
| Amounts receivable within one year | 40/41 | €152,234 | €67,710 | -€84,524 | -55.5% |
| Trade receivables | 40 | €152,234 | €66,335 | -€85,899 | -56.4% |
| Other amounts receivable | 41 | - | €1,375 | +€1,375 | |
| Cash at bank and in hand | 54/58 | €179,733 | €191,620 | +€11,887 | +6.6% |
| Deferred charges and accrued income | 490/1 | €621 | €3,845 | +€3,224 | +519.2% |
| Total equity and liabilities | 10/49 | €332,588 | €297,818 | -€34,769 | -10.5% |
| Equity | 10/15 | €217,611 | €254,102 | +€36,491 | +16.8% |
| Contributions | 10/11 | €8,055 | €8,055 | = | 0.0% |
| Reserves | 13 | €205,807 | €242,261 | +€36,455 | +17.7% |
| Tax-exempt reserves | 132 | €5,272 | €5,272 | = | 0.0% |
| Distributable reserves | 133 | €200,535 | €236,990 | +€36,455 | +18.2% |
| Profit (loss) carried forward | 14 | €3,749 | €3,786 | +€36 | +1.0% |
| Amounts payable | 17/49 | €114,976 | €43,716 | -€71,260 | -62.0% |
| Amounts payable within one year | 42/48 | €111,226 | €43,587 | -€67,640 | -60.8% |
| Trade debts | 44 | €2,507 | €19,430 | +€16,923 | +675.0% |
| Suppliers | 440/4 | €2,507 | €19,430 | +€16,923 | +675.0% |
| Taxes, remuneration and social security | 45 | €49,907 | €16,836 | -€33,071 | -66.3% |
| Taxes | 450/3 | €49,907 | €16,836 | -€33,071 | -66.3% |
| Other amounts payable | 47/48 | €58,812 | €7,321 | -€51,491 | -87.6% |
| Accrued charges and deferred income | 492/3 | €3,750 | €129 | -€3,621 | -96.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €8,308 | +€8,308 | |
| Other operating charges | 640/8 | €222 | €1,691 | +€1,469 | +663.0% |
| Gross operating margin | 9900 | €292,493 | €69,459 | -€223,034 | -76.3% |
| Operating profit (loss) | 9901 | €292,271 | €59,460 | -€232,811 | -79.7% |
| Financial income | 75/76B | €1 | - | -€1 | |
| Recurring financial income | 75 | €1 | - | -€1 | |
| Financial charges | 65/66B | €42 | €199 | +€157 | +377.2% |
| Recurring financial charges | 65 | €42 | €199 | +€157 | +377.2% |
| Profit (loss) for the period before taxes | 9903 | €292,230 | €59,261 | -€232,969 | -79.7% |
| Income taxes | 67/77 | €91,094 | €17,770 | -€73,323 | -80.5% |
| Profit (loss) for the period | 9904 | €201,136 | €41,491 | -€159,645 | -79.4% |
| Profit (loss) for the period to be appropriated | 9905 | €201,136 | €41,491 | -€159,645 | -79.4% |
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 29 September 2026 via checked.be.