ALIMAX: 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.
What changed
ALIMAX
NACE 64.210, Activities of holding companies
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€414,848
2024 · €303,188+€111,660
Equity
€35.4m
2024 · €35.0m+€414,848
Cash
€2.3m
2024 · €715,076+€1.6m
Balance sheet total
€42.3m
2024 · €42.6m-€302,907
Largest movements
Assets
- Current investments -€1.7m
down €1.7m (-16.4%), from €10.6m to €8.8m
- Cash +€1.6m
up €1.6m (+219%), from €715,076 to €2.3m
mainly Current investments (+€1.7m) and Receivables within one year (+€1.0m)
- Receivables within one year -€1.0m
down €1.0m (-18.4%), from €5.6m to €4.6m
of which Other amounts receivable: -€968,700
- Financial fixed assets +€994,274
up €994,274 (+4.3%), from €23.0m to €24.0m
Equity and liabilities
No liability line moved by more than 1% of the balance sheet total.
Income statement
- Gross operating margin -€262,222
down €262,222 (-42.5%), from €616,496 to €354,275
- Financial charges -€152,741
down €152,741 (-36.5%), from €418,027 to €265,285
- Write-downs -€135,828
down €135,828 (-51.6%), from €263,028 to €127,200
- Financial income +€73,986
up €73,986 (+12.6%), from €586,556 to €660,542
- Taxes -€7,868
down €7,868 (-6.5%), from €121,090 to €113,223
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.
Result 2024
€303,188
Gross operating margin
-€262,222
Staff costs
-€6,528
Depreciation
+€6,757
Write-downs
+€135,828
Other operating charges
+€3,229
Financial income
+€73,986
Financial charges
+€152,741
Taxes
+€7,868
Result 2025
€414,848
raises the resultlowers the result
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.
From operations
+€1.2m
Investment
+€697,275
Financing
-€290,424
Cash 2024
€715,076
From operations (derived)
+€1.2m
Net result for the year
+€414,848
Depreciation
+€35,608
Stocks and contracts
+€117,474
Receivables within one year
+€1.0m
Deferred charges and accrued income
-€19,414
Trade debts
-€79,148
Tax, wage and social debts
+€19,843
Other debts
-€384,109
Accrued charges and deferred income
+€16,083
Investment (derived)
+€697,275
Investment in fixed assets (net)
-€1.0m
Current investments
+€1.7m
Financing
-€290,424
Debts after one year
-€291,394
Short-term financial debts
+€970
Cash 2025
€2.3m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €42,560,013 | €42,257,106 | -€302,907 | -0.7% |
| Fixed assets | 21/28 | €24,315,236 | €25,314,537 | +€999,301 | +4.1% |
| Tangible fixed assets | 22/27 | €1,280,793 | €1,285,819 | +€5,026 | +0.4% |
| Land and buildings | 22 | €611,333 | €589,384 | -€21,949 | -3.6% |
| Plant, machinery and equipment | 23 | €3,795 | €1,758 | -€2,037 | -53.7% |
| Furniture and vehicles | 24 | €19,106 | €13,268 | -€5,838 | -30.6% |
| Other tangible fixed assets | 26 | €646,559 | €681,409 | +€34,850 | +5.4% |
| Financial fixed assets | 28 | €23,034,443 | €24,028,717 | +€994,274 | +4.3% |
| Current assets | 29/58 | €18,244,777 | €16,942,569 | -€1.3m | -7.1% |
| Stocks and contracts in progress | 3 | €1,308,874 | €1,191,400 | -€117,474 | -9.0% |
| Stocks | 30/36 | €1,308,874 | €1,191,400 | -€117,474 | -9.0% |
| Amounts receivable within one year | 40/41 | €5,643,486 | €4,607,618 | -€1.0m | -18.4% |
| Trade receivables | 40 | €85,122 | €17,953 | -€67,169 | -78.9% |
| Other amounts receivable | 41 | €5,558,364 | €4,589,665 | -€968,700 | -17.4% |
| Current investments | 50/53 | €10,566,163 | €8,833,979 | -€1.7m | -16.4% |
| Cash at bank and in hand | 54/58 | €715,076 | €2,278,981 | +€1.6m | +219% |
| Deferred charges and accrued income | 490/1 | €11,177 | €30,591 | +€19,414 | +174% |
| Total equity and liabilities | 10/49 | €42,560,013 | €42,257,106 | -€302,907 | -0.7% |
| Equity | 10/15 | €34,969,379 | €35,384,227 | +€414,848 | +1.2% |
| Contributions | 10/11 | €4,593,467 | €4,593,467 | = | 0.0% |
| Capital | 10 | €4,593,467 | €4,593,467 | = | 0.0% |
| Issued capital | 100 | €4,593,467 | €4,593,467 | = | 0.0% |
| Reserves | 13 | €627,747 | €627,747 | = | 0.0% |
| Non-distributable reserves | 130/1 | €459,347 | €459,347 | = | 0.0% |
| Legal reserve | 130 | €459,347 | €459,347 | = | 0.0% |
| Tax-exempt reserves | 132 | €168,400 | €168,400 | = | 0.0% |
| Profit (loss) carried forward | 14 | €29,748,166 | €30,163,013 | +€414,848 | +1.4% |
| Amounts payable | 17/49 | €7,590,634 | €6,872,879 | -€717,755 | -9.5% |
| Amounts payable after more than one year | 17 | €5,538,744 | €5,247,350 | -€291,394 | -5.3% |
| Financial debts | 170/4 | €4,600,000 | €4,200,000 | -€400,000 | -8.7% |
| Other amounts payable | 178/9 | €938,744 | €1,047,350 | +€108,606 | +11.6% |
| Amounts payable within one year | 42/48 | €2,051,890 | €1,609,445 | -€442,444 | -21.6% |
| Current portion of amounts payable after more than one year | 42 | €400,000 | €400,000 | = | 0.0% |
| Financial debts | 43 | €44,103 | €45,073 | +€970 | +2.2% |
| Other loans | 439 | €44,103 | €45,073 | +€970 | +2.2% |
| Trade debts | 44 | €103,900 | €24,752 | -€79,148 | -76.2% |
| Suppliers | 440/4 | €103,900 | €24,752 | -€79,148 | -76.2% |
| Taxes, remuneration and social security | 45 | €29,521 | €49,364 | +€19,843 | +67.2% |
| Taxes | 450/3 | €27,872 | €42,248 | +€14,376 | +51.6% |
| Remuneration and social security | 454/9 | €1,649 | €7,116 | +€5,467 | +331% |
| Other amounts payable | 47/48 | €1,474,365 | €1,090,257 | -€384,109 | -26.1% |
| Accrued charges and deferred income | 492/3 | €0 | €16,083 | +€16,083 | |
| Non-recurring operating income | 76A | €0 | €3,563 | +€3,563 | |
| Remuneration, social security and pensions | 62 | €45,612 | €52,140 | +€6,528 | +14.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,365 | €35,608 | -€6,757 | -15.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €263,028 | €127,200 | -€135,828 | -51.6% |
| Other operating charges | 640/8 | €9,743 | €6,514 | -€3,229 | -33.1% |
| Gross operating margin | 9900 | €616,496 | €354,275 | -€262,222 | -42.5% |
| Operating profit (loss) | 9901 | €255,749 | €132,813 | -€122,935 | -48.1% |
| Financial income | 75/76B | €586,556 | €660,542 | +€73,986 | +12.6% |
| Recurring financial income | 75 | €586,556 | €660,542 | +€73,986 | +12.6% |
| Financial charges | 65/66B | €418,027 | €265,285 | -€152,741 | -36.5% |
| Recurring financial charges | 65 | €418,027 | €265,285 | -€152,741 | -36.5% |
| Profit (loss) for the period before taxes | 9903 | €424,278 | €528,071 | +€103,792 | +24.5% |
| Income taxes | 67/77 | €121,090 | €113,223 | -€7,868 | -6.5% |
| Profit (loss) for the period | 9904 | €303,188 | €414,848 | +€111,660 | +36.8% |
| Transfer to tax-exempt reserves | 689 | €168,400 | €0 | -€168,400 | -100% |
| Profit (loss) for the period to be appropriated | 9905 | €134,788 | €414,848 | +€280,060 | +208% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.