ALIV: 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.
ALIV
Largest movements
- Stocks and contracts +€7.0m
up €7.0m (+65.2%), from €10.8m to €17.8m
- Receivables within one year +€1.5m
up €1.5m (+60.0%), from €2.6m to €4.1m
of which Other amounts receivable: +€1.1m
- Cash -€1.0m
down €1.0m (-35.7%), from €2.9m to €1.8m
mainly Stocks and contracts (-€7.0m) and Receivables within one year (-€1.5m)
- Short-term financial debts +€6.5m
up €6.5m (+71.7%), from €9.1m to €15.6m
- Other debts +€422,230
up €422,230 (+34.0%), from €1.2m to €1.7m
- Advances received +€274,600
new in 2025: €274,600
- Gross operating margin +€657,169
up €657,169 (+244%), from €269,611 to €926,780
- Financial charges +€456,724
up €456,724 (+158%), from €289,838 to €746,562
- Other operating charges +€28,911
up €28,911 (+6,655%), from €434 to €29,345
- Taxes +€17,057
up €17,057 (+86.1%), from €19,821 to €36,879
- Financial income +€14,003
up €14,003 (+862%), from €1,625 to €15,628
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 | €16,290,893 | €23,885,637 | +€7.6m | +46.6% |
| Formation expenses | 20 | €88,614 | €68,927 | -€19,687 | -22.2% |
| Current assets | 29/58 | €16,202,279 | €23,816,710 | +€7.6m | +47.0% |
| Stocks and contracts in progress | 3 | €10,776,301 | €17,799,454 | +€7.0m | +65.2% |
| Stocks | 30/36 | €10,776,301 | €17,799,454 | +€7.0m | +65.2% |
| Amounts receivable within one year | 40/41 | €2,555,468 | €4,087,713 | +€1.5m | +60.0% |
| Trade receivables | 40 | €2,172,972 | €2,627,744 | +€454,772 | +20.9% |
| Other amounts receivable | 41 | €382,496 | €1,459,968 | +€1.1m | +282% |
| Cash at bank and in hand | 54/58 | €2,855,763 | €1,837,220 | -€1.0m | -35.7% |
| Deferred charges and accrued income | 490/1 | €14,747 | €92,323 | +€77,577 | +526% |
| Total equity and liabilities | 10/49 | €16,290,893 | €23,885,637 | +€7.6m | +46.6% |
| Equity | 10/15 | €961,142 | €1,090,765 | +€129,622 | +13.5% |
| Contributions | 10/11 | €1,000,000 | €1,000,000 | = | 0.0% |
| Capital | 10 | €1,000,000 | €1,000,000 | = | 0.0% |
| Issued capital | 100 | €1,000,000 | €1,000,000 | = | 0.0% |
| Reserves | 13 | - | €4,538 | +€4,538 | |
| Non-distributable reserves | 130/1 | - | €4,538 | +€4,538 | |
| Legal reserve | 130 | - | €4,538 | +€4,538 | |
| Profit (loss) carried forward | 14 | -€38,858 | €86,227 | +€125,084 | |
| Amounts payable | 17/49 | €15,329,751 | €22,794,872 | +€7.5m | +48.7% |
| Amounts payable after more than one year | 17 | €4,151,000 | €4,151,000 | = | 0.0% |
| Financial debts | 170/4 | €4,151,000 | €4,151,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €10,870,577 | €18,342,499 | +€7.5m | +68.7% |
| Financial debts | 43 | €9,103,840 | €15,629,978 | +€6.5m | +71.7% |
| Credit institutions | 430/8 | €9,103,840 | €15,629,978 | +€6.5m | +71.7% |
| Trade debts | 44 | €506,279 | €690,131 | +€183,852 | +36.3% |
| Suppliers | 440/4 | €506,279 | €690,131 | +€183,852 | +36.3% |
| Advances received on contracts in progress | 46 | - | €274,600 | +€274,600 | |
| Taxes, remuneration and social security | 45 | €19,821 | €84,924 | +€65,103 | +328% |
| Taxes | 450/3 | €19,821 | €84,924 | +€65,103 | +328% |
| Other amounts payable | 47/48 | €1,240,636 | €1,662,867 | +€422,230 | +34.0% |
| Accrued charges and deferred income | 492/3 | €308,174 | €301,373 | -€6,801 | -2.2% |
| Other operating charges | 640/8 | €434 | €29,345 | +€28,911 | +6,655% |
| Gross operating margin | 9900 | €269,611 | €926,780 | +€657,169 | +244% |
| Operating profit (loss) | 9901 | €269,177 | €897,435 | +€628,258 | +233% |
| Financial income | 75/76B | €1,625 | €15,628 | +€14,003 | +862% |
| Recurring financial income | 75 | €1,625 | €15,628 | +€14,003 | +862% |
| Financial charges | 65/66B | €289,838 | €746,562 | +€456,724 | +158% |
| Recurring financial charges | 65 | €289,838 | €746,562 | +€456,724 | +158% |
| Profit (loss) for the period before taxes | 9903 | -€19,036 | €166,501 | +€185,537 | |
| Income taxes | 67/77 | €19,821 | €36,879 | +€17,057 | +86.1% |
| Profit (loss) for the period | 9904 | -€38,858 | €129,622 | +€168,480 | |
| Profit (loss) for the period to be appropriated | 9905 | -€38,858 | €129,622 | +€168,480 |
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 15 October 2026 via checked.be.