ALMAGY: 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.
ALMAGY
Largest movements
- Tangible fixed assets -€37,044
down €37,044 (-3.3%), from €1.1m to €1.1m
of which Land and buildings: -€34,934
- Cash +€21,213
up €21,213 (+20.9%), from €101,280 to €122,494
mainly Net result for the year (+€89,517) and Depreciation (+€67,952)
- Receivables within one year +€17,291
up €17,291 (+67.8%), from €25,488 to €42,779
of which Trade receivables: +€20,136
- Other debts -€100,000
down €100,000 (-21.7%), from €461,413 to €361,413
- Reserves +€89,517
up €89,517 (+21.4%), from €417,738 to €507,255
of which Distributable reserves: +€89,517
- Tax, wage and social debts +€29,817
new in 2025: €29,817
of which Taxes: +€28,817
- Gross operating margin +€37,956
up €37,956 (+21.4%), from €177,059 to €215,016
- Taxes +€18,054
up €18,054 (+109.6%), from €16,469 to €34,523
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 | €1,253,052 | €1,266,752 | +€13,700 | +1.1% |
| Fixed assets | 21/28 | €1,122,201 | €1,085,102 | -€37,099 | -3.3% |
| Tangible fixed assets | 22/27 | €1,122,146 | €1,085,102 | -€37,044 | -3.3% |
| Land and buildings | 22 | €1,116,841 | €1,081,907 | -€34,934 | -3.1% |
| Plant, machinery and equipment | 23 | €5,305 | €3,196 | -€2,110 | -39.8% |
| Financial fixed assets | 28 | €55 | - | -€55 | |
| Current assets | 29/58 | €130,850 | €181,650 | +€50,799 | +38.8% |
| Amounts receivable within one year | 40/41 | €25,488 | €42,779 | +€17,291 | +67.8% |
| Trade receivables | 40 | €22,643 | €42,779 | +€20,136 | +88.9% |
| Other amounts receivable | 41 | €2,845 | - | -€2,845 | |
| Cash at bank and in hand | 54/58 | €101,280 | €122,494 | +€21,213 | +20.9% |
| Deferred charges and accrued income | 490/1 | €4,082 | €16,377 | +€12,295 | +301.2% |
| Total equity and liabilities | 10/49 | €1,253,052 | €1,266,752 | +€13,700 | +1.1% |
| Equity | 10/15 | €757,637 | €847,154 | +€89,517 | +11.8% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €417,738 | €507,255 | +€89,517 | +21.4% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Distributable reserves | 133 | €411,588 | €501,105 | +€89,517 | +21.7% |
| Profit (loss) carried forward | 14 | €278,398 | €278,398 | = | 0.0% |
| Amounts payable | 17/49 | €495,415 | €419,598 | -€75,817 | -15.3% |
| Amounts payable within one year | 42/48 | €490,531 | €419,598 | -€70,933 | -14.5% |
| Current portion of amounts payable after more than one year | 42 | €27,500 | €27,500 | = | 0.0% |
| Trade debts | 44 | €1,619 | €868 | -€750 | -46.3% |
| Suppliers | 440/4 | €1,619 | €868 | -€750 | -46.3% |
| Taxes, remuneration and social security | 45 | - | €29,817 | +€29,817 | |
| Taxes | 450/3 | - | €28,817 | +€28,817 | |
| Remuneration and social security | 454/9 | - | €1,000 | +€1,000 | |
| Other amounts payable | 47/48 | €461,413 | €361,413 | -€100,000 | -21.7% |
| Accrued charges and deferred income | 492/3 | €4,884 | - | -€4,884 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €66,564 | €67,952 | +€1,388 | +2.1% |
| Other operating charges | 640/8 | €23,218 | €22,896 | -€322 | -1.4% |
| Gross operating margin | 9900 | €177,059 | €215,016 | +€37,956 | +21.4% |
| Operating profit (loss) | 9901 | €87,278 | €124,168 | +€36,890 | +42.3% |
| Financial charges | 65/66B | €42 | €128 | +€86 | +201.6% |
| Recurring financial charges | 65 | €42 | €128 | +€86 | +201.6% |
| Profit (loss) for the period before taxes | 9903 | €87,235 | €124,040 | +€36,805 | +42.2% |
| Income taxes | 67/77 | €16,469 | €34,523 | +€18,054 | +109.6% |
| Profit (loss) for the period | 9904 | €70,767 | €89,517 | +€18,750 | +26.5% |
| Profit (loss) for the period to be appropriated | 9905 | €70,767 | €89,517 | +€18,750 | +26.5% |
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.