Alkaru: 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
Alkaru
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€6,672
2024 · €15,745-€9,073
Equity
€391,110
2024 · €384,438+€6,672
Cash
€22,267
2024 · €20,081+€2,186
Balance sheet total
€696,179
2024 · €724,519-€28,341
Largest movements
Assets
- Receivables within one year -€18,000
down €18,000 (-14.6%), from €123,000 to €105,000
- Tangible fixed assets -€14,805
down €14,805 (-2.6%), from €560,946 to €546,141
of which Land and buildings: -€12,245
Equity and liabilities
- Debts after one year -€21,696
down €21,696 (-8.8%), from €247,587 to €225,891
- Profit (loss) carried forward +€14,109
up €14,109 (+8.1%), from -€175,184 to -€161,074
- Reserves -€7,437
down €7,437 (-4.9%), from €150,597 to €143,160
Income statement
- Gross operating margin -€11,246
down €11,246 (-17.1%), from €65,620 to €54,373
- Financial charges -€1,841
down €1,841 (-17.0%), from €10,820 to €8,979
- Depreciation -€1,307
down €1,307 (-4.3%), from €30,487 to €29,180
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
€15,745
Gross operating margin
-€11,246
Depreciation
+€1,307
Other operating charges
-€344
Financial income
-€353
Financial charges
+€1,841
Taxes
-€17
Deferred taxes and other
-€260
Result 2025
€6,672
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
+€42,497
Investment
-€14,375
Financing
-€25,936
Cash 2024
€20,081
From operations (derived)
+€42,497
Net result for the year
+€6,672
Depreciation
+€29,180
Receivables within one year
+€18,000
Deferred charges and accrued income
-€2,279
Provisions
-€2,479
Trade debts
+€1,456
Tax, wage and social debts
+€545
Other debts
-€6,599
Accrued charges and deferred income
-€2,000
Investment (derived)
-€14,375
Investment in fixed assets (net)
-€14,375
Financing
-€25,936
Debts after one year
-€21,696
Current portion of long-term debt
-€4,240
Cash 2025
€22,267
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €724,519 | €696,179 | -€28,341 | -3.9% |
| Fixed assets | 21/28 | €561,196 | €546,391 | -€14,805 | -2.6% |
| Tangible fixed assets | 22/27 | €560,946 | €546,141 | -€14,805 | -2.6% |
| Land and buildings | 22 | €558,000 | €545,755 | -€12,245 | -2.2% |
| Furniture and vehicles | 24 | €2,946 | €386 | -€2,560 | -86.9% |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €163,323 | €149,788 | -€13,535 | -8.3% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €123,000 | €105,000 | -€18,000 | -14.6% |
| Other amounts receivable | 41 | €123,000 | €105,000 | -€18,000 | -14.6% |
| Cash at bank and in hand | 54/58 | €20,081 | €22,267 | +€2,186 | +10.9% |
| Deferred charges and accrued income | 490/1 | €20,242 | €22,521 | +€2,279 | +11.3% |
| Total equity and liabilities | 10/49 | €724,519 | €696,179 | -€28,341 | -3.9% |
| Equity | 10/15 | €384,438 | €391,110 | +€6,672 | +1.7% |
| Contributions | 10/11 | €409,024 | €409,024 | = | 0.0% |
| Capital | 10 | €409,024 | €409,024 | = | 0.0% |
| Issued capital | 100 | €409,024 | €409,024 | = | 0.0% |
| Reserves | 13 | €150,597 | €143,160 | -€7,437 | -4.9% |
| Tax-exempt reserves | 132 | €150,597 | €143,160 | -€7,437 | -4.9% |
| Profit (loss) carried forward | 14 | -€175,184 | -€161,074 | +€14,109 | +8.1% |
| Provisions and deferred taxes | 16 | €50,199 | €47,720 | -€2,479 | -4.9% |
| Deferred taxes | 168 | €50,199 | €47,720 | -€2,479 | -4.9% |
| Amounts payable | 17/49 | €289,883 | €257,349 | -€32,533 | -11.2% |
| Amounts payable after more than one year | 17 | €247,587 | €225,891 | -€21,696 | -8.8% |
| Financial debts | 170/4 | €247,587 | €225,891 | -€21,696 | -8.8% |
| Amounts payable within one year | 42/48 | €39,444 | €30,606 | -€8,838 | -22.4% |
| Current portion of amounts payable after more than one year | 42 | €25,936 | €21,696 | -€4,240 | -16.3% |
| Trade debts | 44 | €1,028 | €2,484 | +€1,456 | +141.7% |
| Suppliers | 440/4 | €1,028 | €2,484 | +€1,456 | +141.7% |
| Taxes, remuneration and social security | 45 | €530 | €1,075 | +€545 | +102.9% |
| Taxes | 450/3 | €530 | €1,075 | +€545 | +102.9% |
| Other amounts payable | 47/48 | €11,950 | €5,350 | -€6,599 | -55.2% |
| Accrued charges and deferred income | 492/3 | €2,852 | €853 | -€2,000 | -70.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,487 | €29,180 | -€1,307 | -4.3% |
| Other operating charges | 640/8 | €13,419 | €13,763 | +€344 | +2.6% |
| Gross operating margin | 9900 | €65,620 | €54,373 | -€11,246 | -17.1% |
| Operating profit (loss) | 9901 | €21,714 | €11,431 | -€10,284 | -47.4% |
| Financial income | 75/76B | €2,640 | €2,287 | -€353 | -13.4% |
| Recurring financial income | 75 | €2,640 | €2,287 | -€353 | -13.4% |
| Financial charges | 65/66B | €10,820 | €8,979 | -€1,841 | -17.0% |
| Recurring financial charges | 65 | €10,820 | €8,979 | -€1,841 | -17.0% |
| Profit (loss) for the period before taxes | 9903 | €13,535 | €4,738 | -€8,797 | -65.0% |
| Transfer from deferred taxes | 780 | €2,739 | €2,479 | -€260 | -9.5% |
| Income taxes | 67/77 | €528 | €545 | +€17 | +3.2% |
| Profit (loss) for the period | 9904 | €15,745 | €6,672 | -€9,073 | -57.6% |
| Transfer from tax-exempt reserves | 789 | €8,216 | €7,437 | -€779 | -9.5% |
| Profit (loss) for the period to be appropriated | 9905 | €23,961 | €14,109 | -€9,852 | -41.1% |
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 5 October 2026 via checked.be.