ALHETHO: 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.
ALHETHO
Largest movements
- Tangible fixed assets -€77,763
down €77,763 (-4.2%), from €1.9m to €1.8m
- Contributions -€120,000
down €120,000 (-10.0%), from €1.2m to €1.1m
- Other debts +€48,000
up €48,000 (+6.9%), from €700,000 to €748,000
- Gross operating margin -€482,852
down €482,852 (-77.1%), from €625,982 to €143,130
- Financial charges -€16,147
down €16,147 (-34.3%), from €47,087 to €30,940
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 | €1,862,774 | €1,787,536 | -€75,238 | -4.0% |
| Fixed assets | 21/28 | €1,858,321 | €1,780,558 | -€77,763 | -4.2% |
| Tangible fixed assets | 22/27 | €1,858,321 | €1,780,558 | -€77,763 | -4.2% |
| Land and buildings | 22 | €1,858,321 | €1,780,558 | -€77,763 | -4.2% |
| Current assets | 29/58 | €4,453 | €6,978 | +€2,525 | +56.7% |
| Cash at bank and in hand | 54/58 | €564 | €2,909 | +€2,346 | +416.2% |
| Deferred charges and accrued income | 490/1 | €3,889 | €4,068 | +€179 | +4.6% |
| Total equity and liabilities | 10/49 | €1,862,774 | €1,787,536 | -€75,238 | -4.0% |
| Equity | 10/15 | €1,110,152 | €1,007,452 | -€102,701 | -9.3% |
| Contributions | 10/11 | €1,200,000 | €1,080,000 | -€120,000 | -10.0% |
| Reserves | 13 | - | €32 | +€32 | |
| Non-distributable reserves | 130/1 | - | €32 | +€32 | |
| Other | 1319 | - | €32 | +€32 | |
| Profit (loss) carried forward | 14 | -€110,734 | -€92,495 | +€18,239 | +16.5% |
| Investment grants | 15 | €20,886 | €19,914 | -€971 | -4.7% |
| Amounts payable | 17/49 | €752,621 | €780,084 | +€27,463 | +3.6% |
| Amounts payable within one year | 42/48 | €705,578 | €749,189 | +€43,611 | +6.2% |
| Trade debts | 44 | €5,578 | €1,189 | -€4,389 | -78.7% |
| Suppliers | 440/4 | €5,578 | €1,189 | -€4,389 | -78.7% |
| Other amounts payable | 47/48 | €700,000 | €748,000 | +€48,000 | +6.9% |
| Accrued charges and deferred income | 492/3 | €47,043 | €30,895 | -€16,148 | -34.3% |
| Non-recurring operating income | 76A | €500,000 | - | -€500,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €84,271 | €84,997 | +€726 | +0.9% |
| Other operating charges | 640/8 | €9,595 | €9,896 | +€301 | +3.1% |
| Gross operating margin | 9900 | €625,982 | €143,130 | -€482,852 | -77.1% |
| Operating profit (loss) | 9901 | €532,116 | €48,238 | -€483,879 | -90.9% |
| Financial income | 75/76B | €974 | €974 | -€0 | 0.0% |
| Recurring financial income | 75 | €974 | €974 | -€0 | 0.0% |
| Financial charges | 65/66B | €47,087 | €30,940 | -€16,147 | -34.3% |
| Recurring financial charges | 65 | €47,087 | €30,940 | -€16,147 | -34.3% |
| Profit (loss) for the period before taxes | 9903 | €486,003 | €18,272 | -€467,732 | -96.2% |
| Income taxes | 67/77 | €1 | €1 | = | 0.0% |
| Profit (loss) for the period | 9904 | €486,003 | €18,271 | -€467,732 | -96.2% |
| Profit (loss) for the period to be appropriated | 9905 | €486,003 | €18,271 | -€467,732 | -96.2% |
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 2 October 2026 via checked.be.