ALINVER: 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.
ALINVER
Largest movements
- Tangible fixed assets -€19,330
down €19,330 (-11.4%), from €168,863 to €149,533
- Receivables within one year -€3,348
down €3,348 (-20.6%), from €16,244 to €12,896
of which Trade receivables: -€3,827
- Debts after one year -€16,320
down €16,320 (-18.4%), from €88,915 to €72,595
- Reserves -€14,321
down €14,321 (-35.6%), from €40,252 to €25,931
- Other debts +€5,473
up €5,473 (+16.6%), from €33,002 to €38,475
- Trade debts +€2,134
up €2,134 (+55.2%), from €3,866 to €6,000
- Gross operating margin -€7,754
down €7,754 (-34.9%), from €22,241 to €14,487
- Other operating charges +€1,742
up €1,742 (+81.4%), from €2,141 to €3,883
- Depreciation +€1,212
up €1,212 (+6.7%), from €18,118 to €19,330
- Taxes +€589
up €589, from -€68 to €521
- Financial charges -€539
down €539 (-9.6%), from €5,613 to €5,074
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 | €192,228 | €168,674 | -€23,554 | -12.3% |
| Fixed assets | 21/28 | €168,863 | €149,533 | -€19,330 | -11.4% |
| Tangible fixed assets | 22/27 | €168,863 | €149,533 | -€19,330 | -11.4% |
| Land and buildings | 22 | €132,348 | €122,775 | -€9,573 | -7.2% |
| Plant, machinery and equipment | 23 | €4,156 | €3,098 | -€1,058 | -25.5% |
| Furniture and vehicles | 24 | €6,795 | €4,052 | -€2,743 | -40.4% |
| Leasing and similar rights | 25 | €25,564 | €19,608 | -€5,956 | -23.3% |
| Current assets | 29/58 | €23,365 | €19,141 | -€4,224 | -18.1% |
| Amounts receivable within one year | 40/41 | €16,244 | €12,896 | -€3,348 | -20.6% |
| Trade receivables | 40 | €13,444 | €9,617 | -€3,827 | -28.5% |
| Other amounts receivable | 41 | €2,800 | €3,279 | +€479 | +17.1% |
| Cash at bank and in hand | 54/58 | €4,670 | €3,485 | -€1,185 | -25.4% |
| Deferred charges and accrued income | 490/1 | €2,451 | €2,760 | +€309 | +12.6% |
| Total equity and liabilities | 10/49 | €192,228 | €168,674 | -€23,554 | -12.3% |
| Equity | 10/15 | €46,452 | €32,131 | -€14,321 | -30.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €40,252 | €25,931 | -€14,321 | -35.6% |
| Distributable reserves | 133 | €40,252 | €25,931 | -€14,321 | -35.6% |
| Amounts payable | 17/49 | €145,776 | €136,543 | -€9,233 | -6.3% |
| Amounts payable after more than one year | 17 | €88,915 | €72,595 | -€16,320 | -18.4% |
| Financial debts | 170/4 | €88,915 | €72,595 | -€16,320 | -18.4% |
| Amounts payable within one year | 42/48 | €54,555 | €61,429 | +€6,874 | +12.6% |
| Current portion of amounts payable after more than one year | 42 | €15,869 | €16,320 | +€451 | +2.8% |
| Trade debts | 44 | €3,866 | €6,000 | +€2,134 | +55.2% |
| Suppliers | 440/4 | €3,866 | €6,000 | +€2,134 | +55.2% |
| Taxes, remuneration and social security | 45 | €1,818 | €634 | -€1,184 | -65.1% |
| Taxes | 450/3 | €1,818 | €634 | -€1,184 | -65.1% |
| Other amounts payable | 47/48 | €33,002 | €38,475 | +€5,473 | +16.6% |
| Accrued charges and deferred income | 492/3 | €2,306 | €2,519 | +€213 | +9.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,118 | €19,330 | +€1,212 | +6.7% |
| Other operating charges | 640/8 | €2,141 | €3,883 | +€1,742 | +81.4% |
| Gross operating margin | 9900 | €22,241 | €14,487 | -€7,754 | -34.9% |
| Operating profit (loss) | 9901 | €1,982 | -€8,726 | -€10,708 | |
| Financial income | 75/76B | €280 | - | -€280 | |
| Recurring financial income | 75 | €280 | - | -€280 | |
| Financial charges | 65/66B | €5,613 | €5,074 | -€539 | -9.6% |
| Recurring financial charges | 65 | €5,613 | €5,074 | -€539 | -9.6% |
| Profit (loss) for the period before taxes | 9903 | -€3,351 | -€13,800 | -€10,449 | -311.8% |
| Income taxes | 67/77 | -€68 | €521 | +€589 | |
| Profit (loss) for the period | 9904 | -€3,283 | -€14,321 | -€11,038 | -336.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€3,283 | -€14,321 | -€11,038 | -336.2% |
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 10 October 2026 via checked.be.