ALL41: 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.
ALL41
Largest movements
- Financial fixed assets -€900,000
no longer reported in 2025 (was €900,000)
- Cash -€145,692
down €145,692 (-20.6%), from €706,618 to €560,926
mainly Trade debts (-€708,245) and Other debts (-€661,214)
- Receivables within one year -€82,747
down €82,747 (-10.6%), from €780,995 to €698,248
of which Other amounts receivable: -€177,163
- Trade debts -€708,245
down €708,245 (-91.4%), from €774,463 to €66,218
- Other debts -€661,214
no longer reported in 2025 (was €661,214)
- Reserves +€358,642
new in 2025: €358,642
- Tax, wage and social debts -€113,901
down €113,901 (-80.7%), from €141,217 to €27,316
- Financial charges -€9.0m
down €9.0m (-100.0%), from €9.0m to €48
of which Non-recurring financial charges: -€7.7m
- Financial income -€7.7m
down €7.7m (-96.3%), from €8.0m to €300,000
of which Non-recurring financial income: -€6.0m
- Gross operating margin +€502,293
up €502,293, from -€374,339 to €127,955
- Other operating charges -€93,478
down €93,478 (-98.9%), from €94,523 to €1,044
- Taxes -€18,093
down €18,093 (-21.1%), from €85,740 to €67,647
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 | €2,387,613 | €1,262,895 | -€1.1m | -47.1% |
| Fixed assets | 21/28 | €900,000 | €3,490 | -€896,510 | -99.6% |
| Tangible fixed assets | 22/27 | - | €3,490 | +€3,490 | |
| Furniture and vehicles | 24 | - | €3,490 | +€3,490 | |
| Financial fixed assets | 28 | €900,000 | - | -€900,000 | |
| Current assets | 29/58 | €1,487,613 | €1,259,405 | -€228,208 | -15.3% |
| Amounts receivable within one year | 40/41 | €780,995 | €698,248 | -€82,747 | -10.6% |
| Trade receivables | 40 | - | €94,416 | +€94,416 | |
| Other amounts receivable | 41 | €780,995 | €603,832 | -€177,163 | -22.7% |
| Cash at bank and in hand | 54/58 | €706,618 | €560,926 | -€145,692 | -20.6% |
| Deferred charges and accrued income | 490/1 | - | €231 | +€231 | |
| Total equity and liabilities | 10/49 | €2,387,613 | €1,262,895 | -€1.1m | -47.1% |
| Equity | 10/15 | €810,719 | €1,169,361 | +€358,642 | +44.2% |
| Contributions | 10/11 | €13,640 | €13,640 | = | 0.0% |
| Reserves | 13 | - | €358,642 | +€358,642 | |
| Distributable reserves | 133 | - | €358,642 | +€358,642 | |
| Profit (loss) carried forward | 14 | €797,079 | €797,079 | = | 0.0% |
| Amounts payable | 17/49 | €1,576,895 | €93,535 | -€1.5m | -94.1% |
| Amounts payable within one year | 42/48 | €1,576,895 | €93,535 | -€1.5m | -94.1% |
| Trade debts | 44 | €774,463 | €66,218 | -€708,245 | -91.4% |
| Suppliers | 440/4 | €774,463 | €66,218 | -€708,245 | -91.4% |
| Taxes, remuneration and social security | 45 | €141,217 | €27,316 | -€113,901 | -80.7% |
| Taxes | 450/3 | €141,217 | €27,316 | -€113,901 | -80.7% |
| Other amounts payable | 47/48 | €661,214 | - | -€661,214 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €574 | +€574 | |
| Other operating charges | 640/8 | €94,523 | €1,044 | -€93,478 | -98.9% |
| Gross operating margin | 9900 | -€374,339 | €127,955 | +€502,293 | |
| Operating profit (loss) | 9901 | -€468,861 | €126,337 | +€595,198 | |
| Financial income | 75/76B | €8,006,803 | €300,000 | -€7.7m | -96.3% |
| Recurring financial income | 75 | €2,006,803 | €300,000 | -€1.7m | -85.1% |
| Non-recurring financial income | 76B | €6,000,000 | - | -€6.0m | |
| Financial charges | 65/66B | €9,021,423 | €48 | -€9.0m | -100.0% |
| Recurring financial charges | 65 | €1,370,423 | €48 | -€1.4m | -100.0% |
| Non-recurring financial charges | 66B | €7,651,000 | - | -€7.7m | |
| Profit (loss) for the period before taxes | 9903 | -€1,483,481 | €426,289 | +€1.9m | |
| Income taxes | 67/77 | €85,740 | €67,647 | -€18,093 | -21.1% |
| Profit (loss) for the period | 9904 | -€1,569,220 | €358,642 | +€1.9m | |
| Profit (loss) for the period to be appropriated | 9905 | -€1,569,220 | €358,642 | +€1.9m |
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 30 October 2026 via checked.be.