ALIBEL: what changed
Two financial 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.
ALIBEL
Largest movements
- Stocks and contracts +€27,906
up €27,906 (+16.0%), from €174,670 to €202,576
- Tangible fixed assets +€26,989
up €26,989 (+117.7%), from €22,940 to €49,929
of which Plant, machinery and equipment: +€19,883
- Cash -€6,986
down €6,986 (-49.2%), from €14,203 to €7,218
mainly Investment in fixed assets (net) (-€36,547) and Stocks and contracts (-€27,906)
- Trade debts +€98,505
up €98,505 (+62.3%), from €158,185 to €256,691
- Other debts -€25,350
down €25,350 (-75.3%), from €33,680 to €8,330
- Profit (loss) carried forward -€16,941
down €16,941 (-36.8%), from -€46,043 to -€62,984
- Debts after one year -€4,015
down €4,015 (-24.4%), from €16,443 to €12,428
- Accrued charges and deferred income +€3,743
up €3,743 (+12.2%), from €30,668 to €34,411
- Gross operating margin -€12,015
down €12,015 (-7.2%), from €166,772 to €154,757
- Staff costs +€8,634
up €8,634 (+6.1%), from €141,382 to €150,016
- Depreciation +€7,553
up €7,553 (+376.9%), from €2,004 to €9,558
- Other operating charges -€2,489
down €2,489 (-66.2%), from €3,761 to €1,272
- Financial charges +€2,302
up €2,302 (+27.8%), from €8,271 to €10,572
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 | €302,997 | €357,657 | +€54,660 | +18.0% |
| Fixed assets | 21/28 | €23,714 | €50,703 | +€26,989 | +113.8% |
| Tangible fixed assets | 22/27 | €22,940 | €49,929 | +€26,989 | +117.7% |
| Plant, machinery and equipment | 23 | - | €19,883 | +€19,883 | |
| Furniture and vehicles | 24 | €20,718 | €21,092 | +€374 | +1.8% |
| Other tangible fixed assets | 26 | €2,222 | €8,954 | +€6,732 | +303.0% |
| Financial fixed assets | 28 | €774 | €774 | = | 0.0% |
| Current assets | 29/58 | €279,283 | €306,954 | +€27,671 | +9.9% |
| Stocks and contracts in progress | 3 | €174,670 | €202,576 | +€27,906 | +16.0% |
| Stocks | 30/36 | €174,670 | €202,576 | +€27,906 | +16.0% |
| Amounts receivable within one year | 40/41 | €88,917 | €92,464 | +€3,546 | +4.0% |
| Trade receivables | 40 | €6,719 | - | -€6,719 | |
| Other amounts receivable | 41 | €82,199 | €92,464 | +€10,265 | +12.5% |
| Cash at bank and in hand | 54/58 | €14,203 | €7,218 | -€6,986 | -49.2% |
| Deferred charges and accrued income | 490/1 | €1,493 | €4,697 | +€3,205 | +214.7% |
| Total equity and liabilities | 10/49 | €302,997 | €357,657 | +€54,660 | +18.0% |
| Equity | 10/15 | €33,176 | €16,235 | -€16,941 | -51.1% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €60,669 | €60,669 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €58,810 | €58,810 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€46,043 | -€62,984 | -€16,941 | -36.8% |
| Amounts payable | 17/49 | €269,821 | €341,422 | +€71,601 | +26.5% |
| Amounts payable after more than one year | 17 | €16,443 | €12,428 | -€4,015 | -24.4% |
| Financial debts | 170/4 | €16,443 | €12,428 | -€4,015 | -24.4% |
| Amounts payable within one year | 42/48 | €222,711 | €294,584 | +€71,873 | +32.3% |
| Current portion of amounts payable after more than one year | 42 | €3,835 | €4,015 | +€180 | +4.7% |
| Financial debts | 43 | €1,269 | €1,541 | +€273 | +21.5% |
| Credit institutions | 430/8 | €1,269 | €1,541 | +€273 | +21.5% |
| Trade debts | 44 | €158,185 | €256,691 | +€98,505 | +62.3% |
| Suppliers | 440/4 | €158,185 | €256,691 | +€98,505 | +62.3% |
| Taxes, remuneration and social security | 45 | €25,741 | €24,006 | -€1,735 | -6.7% |
| Taxes | 450/3 | €3,401 | €1,039 | -€2,362 | -69.4% |
| Remuneration and social security | 454/9 | €22,340 | €22,967 | +€627 | +2.8% |
| Other amounts payable | 47/48 | €33,680 | €8,330 | -€25,350 | -75.3% |
| Accrued charges and deferred income | 492/3 | €30,668 | €34,411 | +€3,743 | +12.2% |
| Remuneration, social security and pensions | 62 | €141,382 | €150,016 | +€8,634 | +6.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,004 | €9,558 | +€7,553 | +376.9% |
| Other operating charges | 640/8 | €3,761 | €1,272 | -€2,489 | -66.2% |
| Gross operating margin | 9900 | €166,772 | €154,757 | -€12,015 | -7.2% |
| Operating profit (loss) | 9901 | €19,626 | -€6,088 | -€25,714 | |
| Financial income | 75/76B | €104 | €0 | -€104 | -100.0% |
| Recurring financial income | 75 | €104 | €0 | -€104 | -100.0% |
| Financial charges | 65/66B | €8,271 | €10,572 | +€2,302 | +27.8% |
| Recurring financial charges | 65 | €8,271 | €10,572 | +€2,302 | +27.8% |
| Profit (loss) for the period before taxes | 9903 | €11,459 | -€16,660 | -€28,119 | |
| Income taxes | 67/77 | €75 | €281 | +€205 | +273.2% |
| Profit (loss) for the period | 9904 | €11,383 | -€16,941 | -€28,324 | |
| Profit (loss) for the period to be appropriated | 9905 | €11,383 | -€16,941 | -€28,324 |
Source: filed annual accounts (NBB), financial years ended 31 January 2024 and 31 January 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.