ALINOR: 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.
What changed
ALINOR
NACE 18.120, Other printing
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€30,587
2024 · -€68,788+€38,200
Equity
€1.2m
2024 · €1.2m-€30,587
Cash
€30,414
2024 · €65,313-€34,899
Balance sheet total
€5.5m
2024 · €5.7m-€243,481
Largest movements
Assets
- Tangible fixed assets -€91,324
down €91,324 (-2.0%), from €4.6m to €4.5m
of which Land and buildings: -€91,324
- Receivables within one year -€72,567
down €72,567 (-50.4%), from €143,870 to €71,303
of which Other amounts receivable: -€72,012
Equity and liabilities
- Debts after one year -€150,509
down €150,509 (-4.9%), from €3.1m to €2.9m
of which Financial debts: -€136,498
Income statement
- Depreciation -€159,407
down €159,407 (-63.6%), from €250,731 to €91,324
- Financial income -€132,506
down €132,506 (-64.1%), from €206,670 to €74,164
- Financial charges -€25,510
down €25,510 (-20.3%), from €125,696 to €100,187
- Gross operating margin +€5,722
up €5,722 (+8.4%), from €68,486 to €74,208
- Other operating charges -€1,644
down €1,644 (-15.5%), from €10,631 to €8,987
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
-€68,788
Gross operating margin
+€5,722
Depreciation
+€159,407
Other operating charges
+€1,644
Financial income
-€132,506
Financial charges
+€25,510
Taxes
+€724
Deferred taxes and other
-€22,300
Result 2025
-€30,587
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.
From operations
+€61,483
Investment
+€46,819
Financing
-€143,201
Cash 2024
€65,313
From operations (derived)
+€61,483
Net result for the year
-€30,587
Depreciation
+€91,324
Receivables within one year
+€72,567
Deferred charges and accrued income
-€2,128
Provisions
-€21,322
Trade debts
-€4,123
Tax, wage and social debts
+€1,256
Other debts
-€49,970
Accrued charges and deferred income
+€4,467
Investment (derived)
+€46,819
Current investments
+€46,819
Financing
-€143,201
Debts after one year
-€150,509
Current portion of long-term debt
+€2,308
Short-term financial debts
+€5,000
Cash 2025
€30,414
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €5,709,696 | €5,466,215 | -€243,481 | -4.3% |
| Fixed assets | 21/28 | €4,617,451 | €4,526,127 | -€91,324 | -2.0% |
| Tangible fixed assets | 22/27 | €4,617,451 | €4,526,127 | -€91,324 | -2.0% |
| Land and buildings | 22 | €3,223,051 | €3,131,727 | -€91,324 | -2.8% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Assets under construction and advance payments | 27 | €1,394,400 | €1,394,400 | = | 0.0% |
| Current assets | 29/58 | €1,092,245 | €940,088 | -€152,157 | -13.9% |
| Amounts receivable within one year | 40/41 | €143,870 | €71,303 | -€72,567 | -50.4% |
| Trade receivables | 40 | €2,647 | €2,093 | -€555 | -21.0% |
| Other amounts receivable | 41 | €141,222 | €69,210 | -€72,012 | -51.0% |
| Current investments | 50/53 | €880,792 | €833,973 | -€46,819 | -5.3% |
| Cash at bank and in hand | 54/58 | €65,313 | €30,414 | -€34,899 | -53.4% |
| Deferred charges and accrued income | 490/1 | €2,270 | €4,398 | +€2,128 | +93.7% |
| Total equity and liabilities | 10/49 | €5,709,696 | €5,466,215 | -€243,481 | -4.3% |
| Equity | 10/15 | €1,232,834 | €1,202,247 | -€30,587 | -2.5% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €1,214,242 | €1,183,655 | -€30,587 | -2.5% |
| Tax-exempt reserves | 132 | €351,642 | €339,573 | -€12,069 | -3.4% |
| Distributable reserves | 133 | €862,600 | €844,082 | -€18,518 | -2.1% |
| Provisions and deferred taxes | 16 | €971,209 | €949,886 | -€21,322 | -2.2% |
| Deferred taxes | 168 | €971,209 | €949,886 | -€21,322 | -2.2% |
| Amounts payable | 17/49 | €3,505,653 | €3,314,082 | -€191,571 | -5.5% |
| Amounts payable after more than one year | 17 | €3,084,177 | €2,933,668 | -€150,509 | -4.9% |
| Financial debts | 170/4 | €2,472,370 | €2,335,872 | -€136,498 | -5.5% |
| Other amounts payable | 178/9 | €611,807 | €597,796 | -€14,012 | -2.3% |
| Amounts payable within one year | 42/48 | €419,011 | €373,482 | -€45,529 | -10.9% |
| Current portion of amounts payable after more than one year | 42 | €139,761 | €142,069 | +€2,308 | +1.7% |
| Financial debts | 43 | €176,000 | €181,000 | +€5,000 | +2.8% |
| Credit institutions | 430/8 | €176,000 | €181,000 | +€5,000 | +2.8% |
| Trade debts | 44 | €6,575 | €2,453 | -€4,123 | -62.7% |
| Suppliers | 440/4 | €6,575 | €2,453 | -€4,123 | -62.7% |
| Taxes, remuneration and social security | 45 | - | €1,256 | +€1,256 | |
| Taxes | 450/3 | - | €1,256 | +€1,256 | |
| Other amounts payable | 47/48 | €96,674 | €46,704 | -€49,970 | -51.7% |
| Accrued charges and deferred income | 492/3 | €2,465 | €6,932 | +€4,467 | +181.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €250,731 | €91,324 | -€159,407 | -63.6% |
| Other operating charges | 640/8 | €10,631 | €8,987 | -€1,644 | -15.5% |
| Gross operating margin | 9900 | €68,486 | €74,208 | +€5,722 | +8.4% |
| Operating profit (loss) | 9901 | -€192,876 | -€26,103 | +€166,773 | +86.5% |
| Financial income | 75/76B | €206,670 | €74,164 | -€132,506 | -64.1% |
| Recurring financial income | 75 | €206,670 | €74,164 | -€132,506 | -64.1% |
| Financial charges | 65/66B | €125,696 | €100,187 | -€25,510 | -20.3% |
| Recurring financial charges | 65 | €125,696 | €100,187 | -€25,510 | -20.3% |
| Profit (loss) for the period before taxes | 9903 | -€111,902 | -€52,126 | +€59,776 | +53.4% |
| Transfer from deferred taxes | 780 | €43,623 | €21,322 | -€22,300 | -51.1% |
| Income taxes | 67/77 | €508 | -€216 | -€724 | |
| Profit (loss) for the period | 9904 | -€68,788 | -€30,587 | +€38,200 | +55.5% |
| Transfer from tax-exempt reserves | 789 | €12,069 | €12,069 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€56,718 | -€18,518 | +€38,200 | +67.4% |
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 4 October 2026 via checked.be.