ALKO PROJECTS: 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.
ALKO PROJECTS
Largest movements
- Receivables within one year +€11,353
up €11,353 (+15.6%), from €72,773 to €84,126
of which Trade receivables: +€15,644
- Cash -€4,876
down €4,876 (-100.0%), from €4,876 to €0
mainly Receivables within one year (-€11,353) and Tax, wage and social debts (-€6,444)
- Tangible fixed assets +€1,312
up €1,312 (+67.4%), from €1,946 to €3,258
of which Plant, machinery and equipment: +€2,583
- Deferred charges and accrued income -€1,214
no longer reported in 2025 (was €1,214)
- Tax, wage and social debts -€6,444
down €6,444 (-48.7%), from €13,224 to €6,780
- Current portion of long-term debt +€5,000
new in 2025: €5,000
- Short-term financial debts +€4,863
new in 2025: €4,863
- Profit (loss) carried forward +€1,905
up €1,905 (+7.0%), from €27,035 to €28,940
- Trade debts +€1,251
up €1,251 (+8.5%), from €14,733 to €15,984
- Other operating charges +€6,489
up €6,489 (+94.3%), from €6,885 to €13,374
- Gross operating margin -€5,582
down €5,582 (-20.8%), from €26,867 to €21,286
- Taxes -€3,040
down €3,040 (-51.8%), from €5,873 to €2,834
- Financial charges +€2,484
up €2,484 (+189.9%), from €1,308 to €3,791
- Depreciation -€2,267
down €2,267 (-58.0%), from €3,906 to €1,639
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 | €80,810 | €87,384 | +€6,574 | +8.1% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €1,946 | €3,258 | +€1,312 | +67.4% |
| Tangible fixed assets | 22/27 | €1,946 | €3,258 | +€1,312 | +67.4% |
| Plant, machinery and equipment | 23 | €284 | €2,868 | +€2,583 | +908.2% |
| Furniture and vehicles | 24 | €1,661 | €390 | -€1,271 | -76.5% |
| Current assets | 29/58 | €78,864 | €84,126 | +€5,262 | +6.7% |
| Amounts receivable within one year | 40/41 | €72,773 | €84,126 | +€11,353 | +15.6% |
| Trade receivables | 40 | €24,621 | €40,265 | +€15,644 | +63.5% |
| Other amounts receivable | 41 | €48,152 | €43,861 | -€4,291 | -8.9% |
| Cash at bank and in hand | 54/58 | €4,876 | €0 | -€4,876 | -100.0% |
| Deferred charges and accrued income | 490/1 | €1,214 | - | -€1,214 | |
| Total equity and liabilities | 10/49 | €80,810 | €87,384 | +€6,574 | +8.1% |
| Equity | 10/15 | €52,853 | €54,758 | +€1,905 | +3.6% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €22,817 | €22,817 | = | 0.0% |
| Distributable reserves | 133 | €22,817 | €22,817 | = | 0.0% |
| Profit (loss) carried forward | 14 | €27,035 | €28,940 | +€1,905 | +7.0% |
| Amounts payable | 17/49 | €27,957 | €32,626 | +€4,669 | +16.7% |
| Amounts payable within one year | 42/48 | €27,957 | €32,626 | +€4,669 | +16.7% |
| Current portion of amounts payable after more than one year | 42 | - | €5,000 | +€5,000 | |
| Financial debts | 43 | - | €4,863 | +€4,863 | |
| Credit institutions | 430/8 | - | €4,863 | +€4,863 | |
| Trade debts | 44 | €14,733 | €15,984 | +€1,251 | +8.5% |
| Suppliers | 440/4 | €14,733 | €15,984 | +€1,251 | +8.5% |
| Taxes, remuneration and social security | 45 | €13,224 | €6,780 | -€6,444 | -48.7% |
| Taxes | 450/3 | €13,224 | €6,780 | -€6,444 | -48.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,906 | €1,639 | -€2,267 | -58.0% |
| Other operating charges | 640/8 | €6,885 | €13,374 | +€6,489 | +94.3% |
| Gross operating margin | 9900 | €26,867 | €21,286 | -€5,582 | -20.8% |
| Operating profit (loss) | 9901 | €16,077 | €6,273 | -€9,804 | -61.0% |
| Financial income | 75/76B | €1,807 | €2,257 | +€450 | +24.9% |
| Recurring financial income | 75 | €1,807 | €2,257 | +€450 | +24.9% |
| Financial charges | 65/66B | €1,308 | €3,791 | +€2,484 | +189.9% |
| Recurring financial charges | 65 | €1,308 | €3,791 | +€2,484 | +189.9% |
| Profit (loss) for the period before taxes | 9903 | €16,576 | €4,738 | -€11,838 | -71.4% |
| Income taxes | 67/77 | €5,873 | €2,834 | -€3,040 | -51.8% |
| Profit (loss) for the period | 9904 | €10,703 | €1,905 | -€8,798 | -82.2% |
| Profit (loss) for the period to be appropriated | 9905 | €10,703 | €1,905 | -€8,798 | -82.2% |
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.