ALKOBEL: 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.
ALKOBEL
Largest movements
- Intangible fixed assets -€216,594
down €216,594 (-12.6%), from €1.7m to €1.5m
- Cash +€126,844
up €126,844 (+197%), from €64,311 to €191,154
mainly Current portion of long-term debt (+€405,324) and Depreciation (+€240,497)
- Debts after one year -€657,560
down €657,560 (-41.1%), from €1.6m to €942,455
- Current portion of long-term debt +€405,324
up €405,324 (+148%), from €273,477 to €678,800
- Short-term financial debts +€173,963
up €173,963 (+27.3%), from €637,473 to €811,436
- Gross operating margin -€568,068
down €568,068 (-49.9%), from €1.1m to €570,443
- Staff costs -€218,389
down €218,389 (-47.3%), from €461,746 to €243,358
- Depreciation -€198,191
down €198,191 (-45.2%), from €438,688 to €240,497
- Financial charges -€61,179
down €61,179 (-40.4%), from €151,303 to €90,124
- Taxes -€24,098
down €24,098 (-85.5%), from €28,174 to €4,076
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 | €3,115,866 | €3,039,146 | -€76,719 | -2.5% |
| Fixed assets | 21/28 | €1,766,831 | €1,545,523 | -€221,307 | -12.5% |
| Intangible fixed assets | 21 | €1,723,080 | €1,506,486 | -€216,594 | -12.6% |
| Tangible fixed assets | 22/27 | €43,750 | €39,037 | -€4,713 | -10.8% |
| Plant, machinery and equipment | 23 | €26,289 | €20,048 | -€6,241 | -23.7% |
| Furniture and vehicles | 24 | €17,462 | €2,495 | -€14,966 | -85.7% |
| Assets under construction and advance payments | 27 | - | €16,494 | +€16,494 | |
| Current assets | 29/58 | €1,349,035 | €1,493,623 | +€144,588 | +10.7% |
| Stocks and contracts in progress | 3 | €912,084 | €907,481 | -€4,603 | -0.5% |
| Stocks | 30/36 | €912,084 | €907,481 | -€4,603 | -0.5% |
| Amounts receivable within one year | 40/41 | €358,477 | €382,074 | +€23,597 | +6.6% |
| Trade receivables | 40 | €352,204 | €380,147 | +€27,943 | +7.9% |
| Other amounts receivable | 41 | €6,273 | €1,927 | -€4,346 | -69.3% |
| Cash at bank and in hand | 54/58 | €64,311 | €191,154 | +€126,844 | +197% |
| Deferred charges and accrued income | 490/1 | €14,163 | €12,915 | -€1,249 | -8.8% |
| Total equity and liabilities | 10/49 | €3,115,866 | €3,039,146 | -€76,719 | -2.5% |
| Equity | 10/15 | €193,722 | €193,738 | +€16 | 0.0% |
| Contributions | 10/11 | €125,000 | €125,000 | = | 0.0% |
| Reserves | 13 | €68,722 | €68,738 | +€16 | 0.0% |
| Distributable reserves | 133 | €68,722 | €68,738 | +€16 | 0.0% |
| Amounts payable | 17/49 | €2,922,144 | €2,845,409 | -€76,735 | -2.6% |
| Amounts payable after more than one year | 17 | €1,600,015 | €942,455 | -€657,560 | -41.1% |
| Financial debts | 170/4 | €1,600,015 | €942,455 | -€657,560 | -41.1% |
| Amounts payable within one year | 42/48 | €1,315,903 | €1,897,679 | +€581,776 | +44.2% |
| Current portion of amounts payable after more than one year | 42 | €273,477 | €678,800 | +€405,324 | +148% |
| Financial debts | 43 | €637,473 | €811,436 | +€173,963 | +27.3% |
| Credit institutions | 430/8 | €637,473 | €811,436 | +€173,963 | +27.3% |
| Trade debts | 44 | €294,275 | €318,369 | +€24,094 | +8.2% |
| Suppliers | 440/4 | €294,275 | €318,369 | +€24,094 | +8.2% |
| Taxes, remuneration and social security | 45 | €109,146 | €87,475 | -€21,671 | -19.9% |
| Taxes | 450/3 | €57,983 | €30,515 | -€27,468 | -47.4% |
| Remuneration and social security | 454/9 | €51,163 | €56,960 | +€5,797 | +11.3% |
| Other amounts payable | 47/48 | €1,533 | €1,598 | +€65 | +4.3% |
| Accrued charges and deferred income | 492/3 | €6,225 | €5,275 | -€951 | -15.3% |
| Remuneration, social security and pensions | 62 | €461,746 | €243,358 | -€218,389 | -47.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €438,688 | €240,497 | -€198,191 | -45.2% |
| Other operating charges | 640/8 | €5,624 | €2,916 | -€2,708 | -48.2% |
| Gross operating margin | 9900 | €1,138,511 | €570,443 | -€568,068 | -49.9% |
| Operating profit (loss) | 9901 | €232,451 | €83,672 | -€148,779 | -64.0% |
| Financial income | 75/76B | €15,747 | €10,544 | -€5,203 | -33.0% |
| Recurring financial income | 75 | €15,747 | €10,544 | -€5,203 | -33.0% |
| Financial charges | 65/66B | €151,303 | €90,124 | -€61,179 | -40.4% |
| Recurring financial charges | 65 | €151,303 | €90,124 | -€61,179 | -40.4% |
| Profit (loss) for the period before taxes | 9903 | €96,895 | €4,092 | -€92,804 | -95.8% |
| Income taxes | 67/77 | €28,174 | €4,076 | -€24,098 | -85.5% |
| Profit (loss) for the period | 9904 | €68,722 | €16 | -€68,706 | -100.0% |
| Profit (loss) for the period to be appropriated | 9905 | €68,722 | €16 | -€68,706 | -100.0% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.