ALM CONSTRUCT: 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.
ALM CONSTRUCT
Largest movements
- Receivables within one year -€24,736
down €24,736 (-79.1%), from €31,267 to €6,531
of which Trade receivables: -€24,830
- Cash +€18,676
up €18,676 (+295.4%), from €6,323 to €24,999
mainly Receivables within one year (+€24,736) and Trade debts (+€8,096)
- Stocks and contracts -€3,634
down €3,634 (-38.7%), from €9,393 to €5,759
- Deferred charges and accrued income -€1,787
down €1,787 (-57.8%), from €3,093 to €1,306
- Profit (loss) carried forward -€22,243
down €22,243 (-71.5%), from €31,107 to €8,864
- Trade debts +€8,096
up €8,096 (+89.5%), from €9,042 to €17,138
- Tax, wage and social debts +€1,862
up €1,862 (+80.2%), from €2,322 to €4,184
- Turnover -€276,847
down €276,847 (-78.8%), from €351,476 to €74,629
- Purchases and services -€227,572
down €227,572 (-70.7%), from €321,917 to €94,345
- Gross operating margin -€49,275
down €49,275, from €29,559 to -€19,716
- Depreciation -€3,741
down €3,741 (-62.8%), from €5,953 to €2,212
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 | €54,981 | €43,500 | -€11,481 | -20.9% |
| Fixed assets | 21/28 | €4,904 | €4,904 | +€0 | 0.0% |
| Intangible fixed assets | 21 | €164 | €0 | -€164 | -100.0% |
| Tangible fixed assets | 22/27 | €4,287 | €4,451 | +€165 | +3.8% |
| Plant, machinery and equipment | 23 | €4,287 | €4,451 | +€165 | +3.8% |
| Furniture and vehicles | 24 | €0 | €0 | = | |
| Financial fixed assets | 28 | €453 | €453 | = | 0.0% |
| Current assets | 29/58 | €50,077 | €38,595 | -€11,482 | -22.9% |
| Stocks and contracts in progress | 3 | €9,393 | €5,759 | -€3,634 | -38.7% |
| Stocks | 30/36 | €9,393 | €5,759 | -€3,634 | -38.7% |
| Amounts receivable within one year | 40/41 | €31,267 | €6,531 | -€24,736 | -79.1% |
| Trade receivables | 40 | €30,710 | €5,880 | -€24,830 | -80.9% |
| Other amounts receivable | 41 | €557 | €651 | +€94 | +16.9% |
| Cash at bank and in hand | 54/58 | €6,323 | €24,999 | +€18,676 | +295.4% |
| Deferred charges and accrued income | 490/1 | €3,093 | €1,306 | -€1,787 | -57.8% |
| Total equity and liabilities | 10/49 | €54,981 | €43,500 | -€11,481 | -20.9% |
| Equity | 10/15 | €41,107 | €18,864 | -€22,243 | -54.1% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €31,107 | €8,864 | -€22,243 | -71.5% |
| Amounts payable | 17/49 | €13,874 | €24,636 | +€10,762 | +77.6% |
| Amounts payable within one year | 42/48 | €11,394 | €21,876 | +€10,482 | +92.0% |
| Trade debts | 44 | €9,042 | €17,138 | +€8,096 | +89.5% |
| Suppliers | 440/4 | €9,042 | €17,138 | +€8,096 | +89.5% |
| Taxes, remuneration and social security | 45 | €2,322 | €4,184 | +€1,862 | +80.2% |
| Taxes | 450/3 | €2,322 | €4,184 | +€1,862 | +80.2% |
| Other amounts payable | 47/48 | €30 | €553 | +€523 | +1743.3% |
| Accrued charges and deferred income | 492/3 | €2,480 | €2,760 | +€280 | +11.3% |
| Turnover | 70 | €351,476 | €74,629 | -€276,847 | -78.8% |
| Goods, raw materials, services and sundry goods | 60/61 | €321,917 | €94,345 | -€227,572 | -70.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,953 | €2,212 | -€3,741 | -62.8% |
| Other operating charges | 640/8 | €536 | €548 | +€12 | +2.3% |
| Gross operating margin | 9900 | €29,559 | -€19,716 | -€49,275 | |
| Operating profit (loss) | 9901 | €23,071 | -€22,476 | -€45,547 | |
| Financial income | 75/76B | €34 | €0 | -€34 | -99.7% |
| Recurring financial income | 75 | €34 | €0 | -€34 | -99.7% |
| Financial charges | 65/66B | €238 | €58 | -€180 | -75.6% |
| Recurring financial charges | 65 | €238 | €58 | -€180 | -75.6% |
| Profit (loss) for the period before taxes | 9903 | €22,867 | -€22,534 | -€45,401 | |
| Income taxes | 67/77 | €2,725 | -€291 | -€3,016 | |
| Profit (loss) for the period | 9904 | €20,142 | -€22,243 | -€42,385 | |
| Profit (loss) for the period to be appropriated | 9905 | €20,142 | -€22,243 | -€42,385 |
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 4 October 2026 via checked.be.