ALMAGO: 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.
ALMAGO
Largest movements
- Tangible fixed assets -€301,129
down €301,129 (-17.0%), from €1.8m to €1.5m
of which Land and buildings: -€292,484
- Cash +€177,908
up €177,908 (+244.0%), from €72,909 to €250,817
mainly Net result for the year (+€295,579) and Investment in fixed assets (net) (+€204,357)
- Other debts -€500,911
down €500,911 (-91.2%), from €549,438 to €48,526
- Reserves +€295,579
up €295,579 (+39.2%), from €754,546 to €1.1m
of which Tax-exempt reserves: +€272,015
- Provisions +€90,672
up €90,672 (+88.1%), from €102,958 to €193,630
- Accrued charges and deferred income -€25,976
down €25,976 (-51.2%), from €50,726 to €24,749
- Gross operating margin +€423,076
up €423,076 (+455.3%), from €92,923 to €516,000
- Financial charges -€23,099
down €23,099 (-52.3%), from €44,135 to €21,036
- Depreciation -€8,914
down €8,914 (-8.4%), from €105,685 to €96,771
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 | €1,865,548 | €1,728,697 | -€136,851 | -7.3% |
| Fixed assets | 21/28 | €1,770,605 | €1,469,477 | -€301,129 | -17.0% |
| Tangible fixed assets | 22/27 | €1,770,605 | €1,469,477 | -€301,129 | -17.0% |
| Land and buildings | 22 | €1,729,922 | €1,437,439 | -€292,484 | -16.9% |
| Plant, machinery and equipment | 23 | €145 | €0 | -€145 | -100.0% |
| Furniture and vehicles | 24 | €40,538 | €32,038 | -€8,500 | -21.0% |
| Current assets | 29/58 | €94,943 | €259,221 | +€164,278 | +173.0% |
| Amounts receivable within one year | 40/41 | €5,143 | €0 | -€5,143 | -100.0% |
| Other amounts receivable | 41 | €5,143 | €0 | -€5,143 | -100.0% |
| Cash at bank and in hand | 54/58 | €72,909 | €250,817 | +€177,908 | +244.0% |
| Deferred charges and accrued income | 490/1 | €16,891 | €8,404 | -€8,487 | -50.2% |
| Total equity and liabilities | 10/49 | €1,865,548 | €1,728,697 | -€136,851 | -7.3% |
| Equity | 10/15 | €1,159,649 | €1,455,229 | +€295,579 | +25.5% |
| Contributions | 10/11 | €405,104 | €405,104 | = | 0.0% |
| Capital | 10 | €405,104 | €405,104 | = | 0.0% |
| Issued capital | 100 | €405,104 | €405,104 | = | 0.0% |
| Reserves | 13 | €754,546 | €1,050,125 | +€295,579 | +39.2% |
| Non-distributable reserves | 130/1 | €40,510 | €40,510 | = | 0.0% |
| Legal reserve | 130 | €40,510 | €40,510 | = | 0.0% |
| Tax-exempt reserves | 132 | €308,876 | €580,891 | +€272,015 | +88.1% |
| Distributable reserves | 133 | €405,160 | €428,724 | +€23,564 | +5.8% |
| Provisions and deferred taxes | 16 | €102,958 | €193,630 | +€90,672 | +88.1% |
| Deferred taxes | 168 | €102,958 | €193,630 | +€90,672 | +88.1% |
| Amounts payable | 17/49 | €602,941 | €79,839 | -€523,102 | -86.8% |
| Amounts payable within one year | 42/48 | €552,215 | €55,089 | -€497,126 | -90.0% |
| Trade debts | 44 | €2,777 | €4,210 | +€1,434 | +51.6% |
| Suppliers | 440/4 | €2,777 | €4,210 | +€1,434 | +51.6% |
| Taxes, remuneration and social security | 45 | - | €2,352 | +€2,352 | |
| Taxes | 450/3 | - | €2,352 | +€2,352 | |
| Other amounts payable | 47/48 | €549,438 | €48,526 | -€500,911 | -91.2% |
| Accrued charges and deferred income | 492/3 | €50,726 | €24,749 | -€25,976 | -51.2% |
| Non-recurring operating income | 76A | - | €452,618 | +€452,618 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €105,685 | €96,771 | -€8,914 | -8.4% |
| Other operating charges | 640/8 | €10,808 | €9,983 | -€825 | -7.6% |
| Gross operating margin | 9900 | €92,923 | €516,000 | +€423,076 | +455.3% |
| Operating profit (loss) | 9901 | -€23,571 | €409,245 | +€432,815 | |
| Financial income | 75/76B | €477 | €564 | +€87 | +18.3% |
| Recurring financial income | 75 | €477 | €564 | +€87 | +18.3% |
| Financial charges | 65/66B | €44,135 | €21,036 | -€23,099 | -52.3% |
| Recurring financial charges | 65 | €44,135 | €21,036 | -€23,099 | -52.3% |
| Profit (loss) for the period before taxes | 9903 | -€67,229 | €388,773 | +€456,002 | |
| Transfer from deferred taxes | 780 | €7,976 | €18,248 | +€10,272 | +128.8% |
| Transfer to deferred taxes | 680 | - | €108,919 | +€108,919 | |
| Income taxes | 67/77 | - | €2,521 | +€2,521 | |
| Profit (loss) for the period | 9904 | -€59,253 | €295,579 | +€354,833 | |
| Transfer from tax-exempt reserves | 789 | €23,927 | €54,743 | +€30,816 | +128.8% |
| Transfer to tax-exempt reserves | 689 | - | €326,758 | +€326,758 | |
| Profit (loss) for the period to be appropriated | 9905 | -€35,326 | €23,564 | +€58,891 |
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 6 October 2026 via checked.be.