ALIGHIERI: 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.
ALIGHIERI
Largest movements
- Cash +€1.5m
up €1.5m (+412%), from €372,653 to €1.9m
mainly Net result for the year (+€1.2m) and Other debts (+€246,323)
- Receivables within one year -€195,729
down €195,729 (-38.1%), from €514,377 to €318,648
of which Trade receivables: -€382,808
- Tangible fixed assets +€155,540
up €155,540 (+5.8%), from €2.7m to €2.8m
of which Other tangible fixed assets: +€118,288
- Reserves +€1.2m
up €1.2m (+26.6%), from €4.4m to €5.6m
of which Distributable reserves: +€2.0m
- Other debts +€246,323
up €246,323 (+44.8%), from €550,257 to €796,580
- Tax, wage and social debts +€112,631
up €112,631 (+100%), from €112,298 to €224,929
of which Taxes: +€106,846
- Trade debts +€86,863
up €86,863 (+374%), from €23,215 to €110,078
- Gross operating margin +€984,284
up €984,284 (+59.7%), from €1.6m to €2.6m
- Taxes +€496,230
up €496,230 (+113%), from €438,188 to €934,418
- Other operating charges -€70,523
down €70,523 (-93.5%), from €75,454 to €4,931
- Depreciation +€33,051
up €33,051 (+18.3%), from €180,219 to €213,271
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 | €5,195,979 | €6,735,289 | +€1.5m | +29.6% |
| Fixed assets | 21/28 | €2,673,892 | €2,829,432 | +€155,540 | +5.8% |
| Tangible fixed assets | 22/27 | €2,669,182 | €2,824,722 | +€155,540 | +5.8% |
| Land and buildings | 22 | €1,405,489 | €1,363,919 | -€41,571 | -3.0% |
| Plant, machinery and equipment | 23 | €6,973 | €24,099 | +€17,126 | +246% |
| Furniture and vehicles | 24 | €178,203 | €239,900 | +€61,697 | +34.6% |
| Other tangible fixed assets | 26 | €1,078,517 | €1,196,804 | +€118,288 | +11.0% |
| Financial fixed assets | 28 | €4,710 | €4,710 | = | 0.0% |
| Current assets | 29/58 | €2,522,087 | €3,905,857 | +€1.4m | +54.9% |
| Amounts receivable after more than one year | 29 | €1,622,460 | €1,637,986 | +€15,526 | +1.0% |
| Other amounts receivable | 291 | €1,622,460 | €1,637,986 | +€15,526 | +1.0% |
| Stocks and contracts in progress | 3 | €5,728 | €29,878 | +€24,150 | +422% |
| Stocks | 30/36 | €5,728 | €29,878 | +€24,150 | +422% |
| Amounts receivable within one year | 40/41 | €514,377 | €318,648 | -€195,729 | -38.1% |
| Trade receivables | 40 | €510,793 | €127,985 | -€382,808 | -74.9% |
| Other amounts receivable | 41 | €3,584 | €190,663 | +€187,079 | +5,221% |
| Cash at bank and in hand | 54/58 | €372,653 | €1,909,239 | +€1.5m | +412% |
| Deferred charges and accrued income | 490/1 | €6,869 | €10,107 | +€3,238 | +47.1% |
| Total equity and liabilities | 10/49 | €5,195,979 | €6,735,289 | +€1.5m | +29.6% |
| Equity | 10/15 | €4,437,452 | €5,603,443 | +€1.2m | +26.3% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Contributions outside capital | 11 | €12,400 | €12,400 | = | 0.0% |
| Other | 1109/19 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €4,387,177 | €5,553,167 | +€1.2m | +26.6% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €2,277,950 | €1,410,350 | -€867,600 | -38.1% |
| Distributable reserves | 133 | €2,107,367 | €4,140,957 | +€2.0m | +96.5% |
| Profit (loss) carried forward | 14 | €37,876 | €37,876 | = | 0.0% |
| Amounts payable | 17/49 | €758,526 | €1,131,846 | +€373,320 | +49.2% |
| Amounts payable after more than one year | 17 | €64,340 | - | -€64,340 | |
| Financial debts | 170/4 | €64,340 | - | -€64,340 | |
| Amounts payable within one year | 42/48 | €694,186 | €1,131,846 | +€437,660 | +63.0% |
| Current portion of amounts payable after more than one year | 42 | €7,297 | - | -€7,297 | |
| Financial debts | 43 | €1,119 | €259 | -€860 | -76.9% |
| Credit institutions | 430/8 | €1,119 | €259 | -€860 | -76.9% |
| Trade debts | 44 | €23,215 | €110,078 | +€86,863 | +374% |
| Suppliers | 440/4 | €23,215 | €110,078 | +€86,863 | +374% |
| Taxes, remuneration and social security | 45 | €112,298 | €224,929 | +€112,631 | +100% |
| Taxes | 450/3 | €112,298 | €219,144 | +€106,846 | +95.1% |
| Remuneration and social security | 454/9 | - | €5,786 | +€5,786 | |
| Other amounts payable | 47/48 | €550,257 | €796,580 | +€246,323 | +44.8% |
| Non-recurring operating income | 76A | - | €200 | +€200 | |
| Remuneration, social security and pensions | 62 | €163 | €170 | +€7 | +4.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €180,219 | €213,271 | +€33,051 | +18.3% |
| Other operating charges | 640/8 | €75,454 | €4,931 | -€70,523 | -93.5% |
| Non-recurring operating charges | 66A | €541 | €36,899 | +€36,358 | +6,718% |
| Gross operating margin | 9900 | €1,649,396 | €2,633,680 | +€984,284 | +59.7% |
| Operating profit (loss) | 9901 | €1,393,018 | €2,378,409 | +€985,391 | +70.7% |
| Financial income | 75/76B | €30,488 | €31,758 | +€1,271 | +4.2% |
| Recurring financial income | 75 | €30,488 | €31,758 | +€1,271 | +4.2% |
| Financial charges | 65/66B | €321,859 | €309,760 | -€12,100 | -3.8% |
| Recurring financial charges | 65 | €321,859 | €309,760 | -€12,100 | -3.8% |
| Profit (loss) for the period before taxes | 9903 | €1,101,647 | €2,100,408 | +€998,761 | +90.7% |
| Income taxes | 67/77 | €438,188 | €934,418 | +€496,230 | +113% |
| Profit (loss) for the period | 9904 | €663,459 | €1,165,990 | +€502,531 | +75.7% |
| Transfer from tax-exempt reserves | 789 | - | €867,600 | +€867,600 | |
| Transfer to tax-exempt reserves | 689 | €231,550 | - | -€231,550 | |
| Profit (loss) for the period to be appropriated | 9905 | €431,909 | €2,033,590 | +€1.6m | +371% |
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 16 October 2026 via checked.be.