ALITIHAD: 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.
ALITIHAD
Largest movements
- Stocks and contracts +€57,347
up €57,347 (+93.1%), from €61,600 to €118,947
- Receivables within one year +€12,263
up €12,263 (+278%), from €4,408 to €16,671
of which Trade receivables: +€12,807
- Cash +€2,760
up €2,760 (+1,500%), from €184 to €2,944
mainly Trade debts (+€81,784) and Other debts (+€26,486)
- Trade debts +€81,784
up €81,784 (+302%), from €27,053 to €108,837
- Other debts +€26,486
up €26,486 (+53.2%), from €49,761 to €76,247
- Advances received -€25,154
no longer reported in 2025 (was €25,154)
- Profit (loss) carried forward -€16,020
down €16,020 (-33.2%), from -€48,245 to -€64,265
- Tax, wage and social debts +€4,359
up €4,359 (+863%), from €505 to €4,864
of which Taxes: +€3,504
- Gross operating margin +€32,542
up €32,542, from -€20,416 to €12,126
- Staff costs +€7,231
up €7,231 (+77.9%), from €9,281 to €16,512
- Other operating charges +€3,315
up €3,315 (+230%), from €1,444 to €4,759
- Depreciation -€522
down €522 (-19.0%), from €2,745 to €2,223
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.
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 | €74,680 | €146,135 | +€71,455 | +95.7% |
| Formation expenses | 20 | €436 | €218 | -€218 | -50.0% |
| Fixed assets | 21/28 | €8,052 | €7,356 | -€696 | -8.6% |
| Tangible fixed assets | 22/27 | €3,724 | €3,028 | -€696 | -18.7% |
| Plant, machinery and equipment | 23 | €3,724 | €3,028 | -€696 | -18.7% |
| Financial fixed assets | 28 | €4,328 | €4,328 | = | 0.0% |
| Current assets | 29/58 | €66,192 | €138,561 | +€72,369 | +109% |
| Stocks and contracts in progress | 3 | €61,600 | €118,947 | +€57,347 | +93.1% |
| Stocks | 30/36 | €61,600 | €118,947 | +€57,347 | +93.1% |
| Amounts receivable within one year | 40/41 | €4,408 | €16,671 | +€12,263 | +278% |
| Trade receivables | 40 | €3,863 | €16,671 | +€12,807 | +331% |
| Other amounts receivable | 41 | €544 | - | -€544 | |
| Cash at bank and in hand | 54/58 | €184 | €2,944 | +€2,760 | +1,500% |
| Total equity and liabilities | 10/49 | €74,680 | €146,135 | +€71,455 | +95.7% |
| Equity | 10/15 | -€27,794 | -€43,813 | -€16,020 | -57.6% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Contributions outside capital | 11 | €18,592 | €18,592 | = | 0.0% |
| Other | 1109/19 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €1,859 | €1,859 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€48,245 | -€64,265 | -€16,020 | -33.2% |
| Amounts payable | 17/49 | €102,473 | €189,948 | +€87,475 | +85.4% |
| Amounts payable within one year | 42/48 | €102,473 | €189,948 | +€87,475 | +85.4% |
| Trade debts | 44 | €27,053 | €108,837 | +€81,784 | +302% |
| Suppliers | 440/4 | €27,053 | €108,837 | +€81,784 | +302% |
| Advances received on contracts in progress | 46 | €25,154 | - | -€25,154 | |
| Taxes, remuneration and social security | 45 | €505 | €4,864 | +€4,359 | +863% |
| Taxes | 450/3 | - | €3,504 | +€3,504 | |
| Remuneration and social security | 454/9 | €505 | €1,361 | +€856 | +169% |
| Other amounts payable | 47/48 | €49,761 | €76,247 | +€26,486 | +53.2% |
| Non-recurring operating income | 76A | €1,150 | - | -€1,150 | |
| Remuneration, social security and pensions | 62 | €9,281 | €16,512 | +€7,231 | +77.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,745 | €2,223 | -€522 | -19.0% |
| Other operating charges | 640/8 | €1,444 | €4,759 | +€3,315 | +230% |
| Non-recurring operating charges | 66A | - | €4,550 | +€4,550 | |
| Gross operating margin | 9900 | -€20,416 | €12,126 | +€32,542 | |
| Operating profit (loss) | 9901 | -€33,886 | -€15,917 | +€17,969 | +53.0% |
| Financial charges | 65/66B | €99 | €103 | +€3 | +3.5% |
| Recurring financial charges | 65 | €99 | €103 | +€3 | +3.5% |
| Profit (loss) for the period before taxes | 9903 | -€33,985 | -€16,020 | +€17,965 | +52.9% |
| Profit (loss) for the period | 9904 | -€33,985 | -€16,020 | +€17,965 | +52.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€33,985 | -€16,020 | +€17,965 | +52.9% |
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.