ALGUMS: 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.
ALGUMS
Largest movements
- Cash -€372,228
down €372,228 (-54.2%), from €687,332 to €315,104
mainly Contributions, distributions and other (-€350,000) and Tax, wage and social debts (-€67,507)
- Stocks and contracts +€28,263
up €28,263 (+17.2%), from €164,503 to €192,766
- Tangible fixed assets +€25,353
up €25,353 (+136.2%), from €18,613 to €43,966
of which Plant, machinery and equipment: +€18,922
- Receivables within one year +€24,309
up €24,309 (+5.6%), from €431,721 to €456,030
of which Other amounts receivable: +€12,811
- Reserves -€298,000
down €298,000 (-32.4%), from €920,000 to €622,000
- Other debts +€79,837
up €79,837 (+130.4%), from €61,239 to €141,076
- Tax, wage and social debts -€67,507
down €67,507 (-82.2%), from €82,137 to €14,630
of which Taxes: -€47,682
- Trade debts -€16,983
down €16,983 (-7.3%), from €232,885 to €215,902
- Gross operating margin -€204,288
down €204,288 (-41.4%), from €493,387 to €289,099
- Taxes -€50,412
down €50,412 (-72.6%), from €69,462 to €19,050
- Staff costs +€30,278
up €30,278 (+16.6%), from €182,499 to €212,777
- Financial income +€12,201
up €12,201 (+2341.9%), from €521 to €12,722
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 | €1,321,385 | €1,014,197 | -€307,188 | -23.2% |
| Fixed assets | 21/28 | €18,613 | €43,966 | +€25,353 | +136.2% |
| Tangible fixed assets | 22/27 | €18,613 | €43,966 | +€25,353 | +136.2% |
| Land and buildings | 22 | €1,217 | €718 | -€499 | -41.0% |
| Plant, machinery and equipment | 23 | €13,633 | €32,555 | +€18,922 | +138.8% |
| Furniture and vehicles | 24 | €3,763 | €10,693 | +€6,930 | +184.2% |
| Current assets | 29/58 | €1,302,772 | €970,231 | -€332,541 | -25.5% |
| Amounts receivable after more than one year | 29 | €3,273 | - | -€3,273 | |
| Trade receivables | 290 | €3,273 | - | -€3,273 | |
| Stocks and contracts in progress | 3 | €164,503 | €192,766 | +€28,263 | +17.2% |
| Stocks | 30/36 | €164,503 | €192,766 | +€28,263 | +17.2% |
| Amounts receivable within one year | 40/41 | €431,721 | €456,030 | +€24,309 | +5.6% |
| Trade receivables | 40 | €428,248 | €439,746 | +€11,498 | +2.7% |
| Other amounts receivable | 41 | €3,473 | €16,284 | +€12,811 | +368.9% |
| Cash at bank and in hand | 54/58 | €687,332 | €315,104 | -€372,228 | -54.2% |
| Deferred charges and accrued income | 490/1 | €15,943 | €6,331 | -€9,612 | -60.3% |
| Total equity and liabilities | 10/49 | €1,321,385 | €1,014,197 | -€307,188 | -23.2% |
| Equity | 10/15 | €942,138 | €642,589 | -€299,549 | -31.8% |
| Contributions | 10/11 | €22,000 | €20,000 | -€2,000 | -9.1% |
| Reserves | 13 | €920,000 | €622,000 | -€298,000 | -32.4% |
| Distributable reserves | 133 | €920,000 | €622,000 | -€298,000 | -32.4% |
| Profit (loss) carried forward | 14 | €138 | €589 | +€451 | +326.5% |
| Amounts payable | 17/49 | €379,247 | €371,608 | -€7,639 | -2.0% |
| Amounts payable within one year | 42/48 | €376,261 | €371,608 | -€4,653 | -1.2% |
| Trade debts | 44 | €232,885 | €215,902 | -€16,983 | -7.3% |
| Suppliers | 440/4 | €232,885 | €215,902 | -€16,983 | -7.3% |
| Taxes, remuneration and social security | 45 | €82,137 | €14,630 | -€67,507 | -82.2% |
| Taxes | 450/3 | €50,086 | €2,404 | -€47,682 | -95.2% |
| Remuneration and social security | 454/9 | €32,051 | €12,225 | -€19,826 | -61.9% |
| Other amounts payable | 47/48 | €61,239 | €141,076 | +€79,837 | +130.4% |
| Accrued charges and deferred income | 492/3 | €2,986 | - | -€2,986 | |
| Non-recurring operating income | 76A | €15,990 | €2,385 | -€13,605 | -85.1% |
| Remuneration, social security and pensions | 62 | €182,499 | €212,777 | +€30,278 | +16.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,103 | €10,245 | -€4,858 | -32.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €4,088 | - | -€4,088 | |
| Other operating charges | 640/8 | €3,628 | €3,649 | +€21 | +0.6% |
| Non-recurring operating charges | 66A | - | €1,857 | +€1,857 | |
| Gross operating margin | 9900 | €493,387 | €289,099 | -€204,288 | -41.4% |
| Operating profit (loss) | 9901 | €288,069 | €60,572 | -€227,497 | -79.0% |
| Financial income | 75/76B | €521 | €12,722 | +€12,201 | +2341.9% |
| Recurring financial income | 75 | €521 | €12,722 | +€12,201 | +2341.9% |
| Financial charges | 65/66B | €6,112 | €3,794 | -€2,318 | -37.9% |
| Recurring financial charges | 65 | €6,112 | €3,794 | -€2,318 | -37.9% |
| Profit (loss) for the period before taxes | 9903 | €282,478 | €69,501 | -€212,977 | -75.4% |
| Income taxes | 67/77 | €69,462 | €19,050 | -€50,412 | -72.6% |
| Profit (loss) for the period | 9904 | €213,016 | €50,451 | -€162,565 | -76.3% |
| Profit (loss) for the period to be appropriated | 9905 | €213,016 | €50,451 | -€162,565 | -76.3% |
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 30 September 2026 via checked.be.