ALLEJO: 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.
What changed
ALLEJO
NACE 64.210, Activities of holding companies
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€11.9m
2024 · €62.3m-€50.4m
Equity
€1.59bn
2024 · €1.57bn+€11.9m
Cash
€537,124
2024 · €4.9m-€4.4m
Balance sheet total
€1.59bn
2024 · €1.57bn+€12.1m
Largest movements
Assets
- Receivables after one year +€26.3m
new in 2025: €26.3m
- Financial fixed assets -€24.5m
down €24.5m (-1.6%), from €1.54bn to €1.51bn
of which Other financial fixed assets: -€1.54bn
Equity and liabilities
No liability line moved by more than 1% of the balance sheet total.
Income statement
- Financial income -€49.6m
down €49.6m (-79.3%), from €62.6m to €13.0m
of which Non-recurring financial income: -€28.9m
- Services and other goods +€771,660
up €771,660 (+676%), from €114,152 to €885,812
- Staff costs +€107,090
up €107,090 (+379%), from €28,249 to €135,339
- Taxes -€97,627
down €97,627 (-57.2%), from €170,797 to €73,170
- Depreciation +€30,460
up €30,460 (+797%), from €3,822 to €34,282
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
€62.3m
Turnover
-€1,950
Other operating income
+€22,014
Services and other goods
-€771,660
Staff costs
-€107,090
Depreciation
-€30,460
Other operating charges
+€4,691
Other operating items
-€1,212
Financial income
-€49.6m
Financial charges
+€3,975
Taxes
+€97,627
Result 2025
€11.9m
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
-€17.9m
Investment
+€13.5m
Financing
€0
Cash 2024
€4.9m
From operations (derived)
-€17.9m
Net result for the year
+€11.9m
Depreciation
+€34,282
Receivables after one year
-€26.3m
Receivables within one year
-€3.6m
Deferred charges and accrued income
-€125,606
Trade debts
+€134,586
Tax, wage and social debts
-€1,112
Investment (derived)
+€13.5m
Investment in fixed assets (net)
+€24.5m
Current investments
-€11.1m
Cash 2025
€537,124
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,574,768,472 | €1,586,829,964 | +€12.1m | +0.8% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €1,538,643,672 | €1,514,093,267 | -€24.6m | -1.6% |
| Tangible fixed assets | 22/27 | €133,265 | €99,150 | -€34,115 | -25.6% |
| Furniture and vehicles | 24 | €133,265 | €99,150 | -€34,115 | -25.6% |
| Financial fixed assets | 28 | €1,538,510,407 | €1,513,994,118 | -€24.5m | -1.6% |
| Affiliated companies | 280/1 | - | €1,513,994,058 | +€1.51bn | |
| Participating interests | 280 | - | €1,513,994,058 | +€1.51bn | |
| Other financial fixed assets | 284/8 | €1,538,510,407 | €60 | -€1.54bn | -100.0% |
| Shares | 284 | €1,538,510,347 | €0 | -€1.54bn | -100% |
| Amounts receivable and cash guarantees | 285/8 | €60 | €60 | = | 0.0% |
| Current assets | 29/58 | €36,124,800 | €72,736,697 | +€36.6m | +101% |
| Amounts receivable after more than one year | 29 | - | €26,261,237 | +€26.3m | |
| Other amounts receivable | 291 | - | €26,261,237 | +€26.3m | |
| Amounts receivable within one year | 40/41 | €30,847,574 | €34,414,740 | +€3.6m | +11.6% |
| Trade receivables | 40 | €17,243 | €15,730 | -€1,513 | -8.8% |
| Other amounts receivable | 41 | €30,830,331 | €34,399,010 | +€3.6m | +11.6% |
| Current investments | 50/53 | - | €11,057,481 | +€11.1m | |
| Other investments | 51/53 | - | €11,057,481 | +€11.1m | |
| Cash at bank and in hand | 54/58 | €4,936,717 | €537,124 | -€4.4m | -89.1% |
| Deferred charges and accrued income | 490/1 | €340,509 | €466,114 | +€125,606 | +36.9% |
| Total equity and liabilities | 10/49 | €1,574,768,472 | €1,586,829,964 | +€12.1m | +0.8% |
| Equity | 10/15 | €1,574,737,038 | €1,586,665,056 | +€11.9m | +0.8% |
| Contributions | 10/11 | €1,591,780,000 | €1,591,780,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€17,042,962 | -€5,114,944 | +€11.9m | +70.0% |
| Amounts payable | 17/49 | €31,434 | €164,908 | +€133,474 | +425% |
| Amounts payable within one year | 42/48 | €31,434 | €164,908 | +€133,474 | +425% |
| Trade debts | 44 | €25,226 | €159,813 | +€134,586 | +534% |
| Suppliers | 440/4 | €25,226 | €159,813 | +€134,586 | +534% |
| Taxes, remuneration and social security | 45 | €6,208 | €5,095 | -€1,112 | -17.9% |
| Taxes | 450/3 | €3,280 | €4,402 | +€1,122 | +34.2% |
| Remuneration and social security | 454/9 | €2,928 | €694 | -€2,234 | -76.3% |
| Operating income | 70/76A | €59,014 | €79,079 | +€20,064 | +34.0% |
| Turnover | 70 | €57,000 | €55,050 | -€1,950 | -3.4% |
| Other operating income | 74 | €2,014 | €24,029 | +€22,014 | +1,093% |
| Operating charges | 60/66A | €154,830 | €1,060,562 | +€905,732 | +585% |
| Services and other goods | 61 | €114,152 | €885,812 | +€771,660 | +676% |
| Remuneration, social security and pensions | 62 | €28,249 | €135,339 | +€107,090 | +379% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,822 | €34,282 | +€30,460 | +797% |
| Other operating charges | 640/8 | €8,607 | €3,916 | -€4,691 | -54.5% |
| Non-recurring operating charges | 66A | - | €1,212 | +€1,212 | |
| Operating profit (loss) | 9901 | -€95,815 | -€981,483 | -€885,667 | -924% |
| Financial income | 75/76B | €62,609,859 | €12,983,222 | -€49.6m | -79.3% |
| Recurring financial income | 75 | €31,980,088 | €11,238,274 | -€20.7m | -64.9% |
| Income from financial fixed assets | 750 | €31,197,384 | €10,005,780 | -€21.2m | -67.9% |
| Income from current assets | 751 | €782,704 | €1,232,494 | +€449,790 | +57.5% |
| Non-recurring financial income | 76B | €30,629,771 | €1,744,948 | -€28.9m | -94.3% |
| Financial charges | 65/66B | €4,525 | €550 | -€3,975 | -87.8% |
| Recurring financial charges | 65 | €4,525 | €550 | -€3,975 | -87.8% |
| Debt charges | 650 | €4,067 | - | -€4,067 | |
| Other financial charges | 652/9 | €458 | €550 | +€92 | +20.2% |
| Profit (loss) for the period before taxes | 9903 | €62,509,519 | €12,001,189 | -€50.5m | -80.8% |
| Income taxes | 67/77 | €170,797 | €73,170 | -€97,627 | -57.2% |
| Taxes | 670/3 | €170,797 | €73,170 | -€97,627 | -57.2% |
| Profit (loss) for the period | 9904 | €62,338,722 | €11,928,018 | -€50.4m | -80.9% |
| Profit (loss) for the period to be appropriated | 9905 | €62,338,722 | €11,928,018 | -€50.4m | -80.9% |
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 15 October 2026 via checked.be.