ALIGATOR: 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.
ALIGATOR
Largest movements
- Cash +€283,838
up €283,838 (+41.3%), from €687,042 to €970,880
mainly Other debts (+€392,553) and Trade debts (+€261,589)
- Receivables after one year +€250,526
new in 2025: €250,526
- Tangible fixed assets -€131,974
down €131,974 (-88.6%), from €149,031 to €17,058
of which Land and buildings: -€90,300
- Receivables within one year +€71,240
up €71,240 (+91.0%), from €78,279 to €149,519
of which Trade receivables: +€79,298
- Other debts +€392,553
up €392,553 (+3,029%), from €12,959 to €405,512
- Trade debts +€261,589
up €261,589 (+669%), from €39,107 to €300,695
- Reserves -€210,681
down €210,681 (-30.6%), from €688,711 to €478,030
- Tax, wage and social debts +€42,177
up €42,177 (+607%), from €6,944 to €49,120
of which Taxes: +€39,406
- Gross operating margin +€91,799
up €91,799 (+45.0%), from €203,852 to €295,651
- Taxes +€33,867
up €33,867 (+77.3%), from €43,788 to €77,655
- Depreciation -€13,127
down €13,127 (-64.5%), from €20,341 to €7,215
- Financial income +€7,263
up €7,263 (+80.8%), from €8,985 to €16,248
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.
Derived cash bridge
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 | €1,029,442 | €1,502,170 | +€472,728 | +45.9% |
| Fixed assets | 21/28 | €179,673 | €44,847 | -€134,826 | -75.0% |
| Intangible fixed assets | 21 | €8,100 | €5,058 | -€3,042 | -37.6% |
| Tangible fixed assets | 22/27 | €149,031 | €17,058 | -€131,974 | -88.6% |
| Land and buildings | 22 | €90,300 | - | -€90,300 | |
| Plant, machinery and equipment | 23 | €55,824 | €11,823 | -€44,001 | -78.8% |
| Furniture and vehicles | 24 | €2,908 | €5,235 | +€2,327 | +80.0% |
| Financial fixed assets | 28 | €22,541 | €22,731 | +€190 | +0.8% |
| Current assets | 29/58 | €849,769 | €1,457,323 | +€607,554 | +71.5% |
| Amounts receivable after more than one year | 29 | - | €250,526 | +€250,526 | |
| Other amounts receivable | 291 | - | €250,526 | +€250,526 | |
| Stocks and contracts in progress | 3 | €83,333 | €85,219 | +€1,887 | +2.3% |
| Stocks | 30/36 | €83,333 | €85,219 | +€1,887 | +2.3% |
| Amounts receivable within one year | 40/41 | €78,279 | €149,519 | +€71,240 | +91.0% |
| Trade receivables | 40 | €42,063 | €121,361 | +€79,298 | +189% |
| Other amounts receivable | 41 | €36,216 | €28,158 | -€8,058 | -22.2% |
| Cash at bank and in hand | 54/58 | €687,042 | €970,880 | +€283,838 | +41.3% |
| Deferred charges and accrued income | 490/1 | €1,115 | €1,179 | +€63 | +5.7% |
| Total equity and liabilities | 10/49 | €1,029,442 | €1,502,170 | +€472,728 | +45.9% |
| Equity | 10/15 | €970,126 | €745,907 | -€224,219 | -23.1% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €688,711 | €478,030 | -€210,681 | -30.6% |
| Distributable reserves | 133 | €688,711 | €478,030 | -€210,681 | -30.6% |
| Profit (loss) carried forward | 14 | €247,877 | €247,877 | = | 0.0% |
| Investment grants | 15 | €13,537 | - | -€13,537 | |
| Amounts payable | 17/49 | €59,316 | €756,263 | +€696,947 | +1,175% |
| Amounts payable within one year | 42/48 | €59,316 | €756,263 | +€696,947 | +1,175% |
| Financial debts | 43 | €307 | €935 | +€628 | +204% |
| Credit institutions | 430/8 | €307 | €935 | +€628 | +204% |
| Trade debts | 44 | €39,107 | €300,695 | +€261,589 | +669% |
| Suppliers | 440/4 | €39,107 | €300,695 | +€261,589 | +669% |
| Taxes, remuneration and social security | 45 | €6,944 | €49,120 | +€42,177 | +607% |
| Taxes | 450/3 | €2,658 | €42,064 | +€39,406 | +1,482% |
| Remuneration and social security | 454/9 | €4,285 | €7,056 | +€2,771 | +64.7% |
| Other amounts payable | 47/48 | €12,959 | €405,512 | +€392,553 | +3,029% |
| Non-recurring operating income | 76A | €77 | €273,273 | +€273,196 | +355,678% |
| Remuneration, social security and pensions | 62 | €33,313 | €34,914 | +€1,601 | +4.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,341 | €7,215 | -€13,127 | -64.5% |
| Other operating charges | 640/8 | €5,645 | €4,128 | -€1,517 | -26.9% |
| Non-recurring operating charges | 66A | €175 | - | -€175 | |
| Gross operating margin | 9900 | €203,852 | €295,651 | +€91,799 | +45.0% |
| Operating profit (loss) | 9901 | €144,377 | €249,394 | +€105,017 | +72.7% |
| Financial income | 75/76B | €8,985 | €16,248 | +€7,263 | +80.8% |
| Recurring financial income | 75 | €8,985 | €16,248 | +€7,263 | +80.8% |
| Financial charges | 65/66B | €3,676 | €4,507 | +€831 | +22.6% |
| Recurring financial charges | 65 | €3,676 | €4,507 | +€831 | +22.6% |
| Profit (loss) for the period before taxes | 9903 | €149,685 | €261,134 | +€111,449 | +74.5% |
| Income taxes | 67/77 | €43,788 | €77,655 | +€33,867 | +77.3% |
| Profit (loss) for the period | 9904 | €105,897 | €183,480 | +€77,582 | +73.3% |
| Profit (loss) for the period to be appropriated | 9905 | €105,897 | €183,480 | +€77,582 | +73.3% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.