ALMAGUN: 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.
ALMAGUN
Largest movements
- Tangible fixed assets +€283,278
up €283,278 (+70.7%), from €400,768 to €684,046
of which Land and buildings: +€274,096
- Current investments -€250,000
down €250,000 (-60.5%), from €413,268 to €163,268
- Receivables within one year +€67,299
up €67,299 (+185%), from €36,297 to €103,595
of which Other amounts receivable: +€67,299
- Cash -€36,135
down €36,135 (-32.1%), from €112,442 to €76,307
mainly Investment in fixed assets (net) (-€306,684) and Receivables within one year (-€67,299)
- Short-term financial debts +€100,656
up €100,656 (+1,279%), from €7,868 to €108,524
of which Other loans: +€100,000
- Debts after one year -€58,524
down €58,524 (-33.7%), from €173,605 to €115,081
- Reserves +€24,111
up €24,111 (+3.4%), from €711,518 to €735,629
of which Distributable reserves: +€24,111
- Other debts +€11,638
up €11,638 (+33.5%), from €34,791 to €46,429
- Gross operating margin -€37,843
down €37,843 (-24.9%), from €152,007 to €114,163
- Other operating charges +€9,382
up €9,382 (+516%), from €1,818 to €11,200
- Depreciation +€6,839
up €6,839 (+41.3%), from €16,567 to €23,406
- Taxes +€3,705
up €3,705 (+8.4%), from €43,866 to €47,571
- Financial income -€1,910
no longer reported in 2025 (was €1,910)
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 | €962,775 | €1,035,216 | +€72,441 | +7.5% |
| Fixed assets | 21/28 | €400,768 | €684,046 | +€283,278 | +70.7% |
| Tangible fixed assets | 22/27 | €400,768 | €684,046 | +€283,278 | +70.7% |
| Land and buildings | 22 | €374,329 | €648,425 | +€274,096 | +73.2% |
| Furniture and vehicles | 24 | €26,439 | €35,621 | +€9,182 | +34.7% |
| Current assets | 29/58 | €562,007 | €351,170 | -€210,837 | -37.5% |
| Amounts receivable within one year | 40/41 | €36,297 | €103,595 | +€67,299 | +185% |
| Trade receivables | 40 | €7,260 | €7,260 | = | 0.0% |
| Other amounts receivable | 41 | €29,037 | €96,335 | +€67,299 | +232% |
| Current investments | 50/53 | €413,268 | €163,268 | -€250,000 | -60.5% |
| Cash at bank and in hand | 54/58 | €112,442 | €76,307 | -€36,135 | -32.1% |
| Deferred charges and accrued income | 490/1 | - | €8,000 | +€8,000 | |
| Total equity and liabilities | 10/49 | €962,775 | €1,035,216 | +€72,441 | +7.5% |
| Equity | 10/15 | €723,918 | €748,029 | +€24,111 | +3.3% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €711,518 | €735,629 | +€24,111 | +3.4% |
| Non-distributable reserves | 130/1 | €1,240 | €1,240 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,240 | €1,240 | = | 0.0% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €691,528 | €715,639 | +€24,111 | +3.5% |
| Amounts payable | 17/49 | €238,857 | €287,187 | +€48,331 | +20.2% |
| Amounts payable after more than one year | 17 | €173,605 | €115,081 | -€58,524 | -33.7% |
| Financial debts | 170/4 | €173,605 | €115,081 | -€58,524 | -33.7% |
| Amounts payable within one year | 42/48 | €65,252 | €172,107 | +€106,855 | +164% |
| Financial debts | 43 | €7,868 | €108,524 | +€100,656 | +1,279% |
| Credit institutions | 430/8 | €7,868 | €8,524 | +€656 | +8.3% |
| Other loans | 439 | - | €100,000 | +€100,000 | |
| Trade debts | 44 | €5,566 | €1,025 | -€4,541 | -81.6% |
| Suppliers | 440/4 | €5,566 | €1,025 | -€4,541 | -81.6% |
| Taxes, remuneration and social security | 45 | €17,027 | €16,128 | -€898 | -5.3% |
| Taxes | 450/3 | €17,027 | €16,128 | -€898 | -5.3% |
| Other amounts payable | 47/48 | €34,791 | €46,429 | +€11,638 | +33.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,567 | €23,406 | +€6,839 | +41.3% |
| Other operating charges | 640/8 | €1,818 | €11,200 | +€9,382 | +516% |
| Gross operating margin | 9900 | €152,007 | €114,163 | -€37,843 | -24.9% |
| Operating profit (loss) | 9901 | €133,622 | €79,557 | -€54,064 | -40.5% |
| Financial income | 75/76B | €1,910 | - | -€1,910 | |
| Recurring financial income | 75 | €1,910 | - | -€1,910 | |
| Financial charges | 65/66B | €4,870 | €6,275 | +€1,405 | +28.9% |
| Recurring financial charges | 65 | €4,870 | €6,275 | +€1,405 | +28.9% |
| Profit (loss) for the period before taxes | 9903 | €130,661 | €73,282 | -€57,379 | -43.9% |
| Income taxes | 67/77 | €43,866 | €47,571 | +€3,705 | +8.4% |
| Profit (loss) for the period | 9904 | €86,795 | €25,711 | -€61,084 | -70.4% |
| Profit (loss) for the period to be appropriated | 9905 | €86,795 | €25,711 | -€61,084 | -70.4% |
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 29 October 2026 via checked.be.