ALMAN: 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.
ALMAN
Largest movements
- Receivables within one year +€36,077
up €36,077 (+44.8%), from €80,576 to €116,653
- Tangible fixed assets -€30,582
down €30,582 (-3.0%), from €1.0m to €988,701
of which Land and buildings: -€32,286
- Cash -€22,429
down €22,429 (-58.1%), from €38,633 to €16,204
mainly Receivables within one year (-€36,077) and Net result for the year (-€17,558)
- Reserves -€17,558
down €17,558 (-1.5%), from €1.2m to €1.1m
of which Distributable reserves: -€15,449
- Financial income -€9,448
down €9,448 (-90.3%), from €10,463 to €1,016
- Depreciation +€3,349
up €3,349 (+8.4%), from €39,665 to €43,014
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 | €1,208,574 | €1,191,640 | -€16,934 | -1.4% |
| Fixed assets | 21/28 | €1,022,649 | €992,067 | -€30,582 | -3.0% |
| Tangible fixed assets | 22/27 | €1,019,283 | €988,701 | -€30,582 | -3.0% |
| Land and buildings | 22 | €956,378 | €924,093 | -€32,286 | -3.4% |
| Plant, machinery and equipment | 23 | €8,080 | €14,670 | +€6,590 | +81.6% |
| Furniture and vehicles | 24 | €30,125 | €25,238 | -€4,887 | -16.2% |
| Other tangible fixed assets | 26 | €24,699 | €24,699 | = | 0.0% |
| Financial fixed assets | 28 | €3,366 | €3,366 | = | 0.0% |
| Current assets | 29/58 | €185,925 | €199,573 | +€13,648 | +7.3% |
| Amounts receivable within one year | 40/41 | €80,576 | €116,653 | +€36,077 | +44.8% |
| Other amounts receivable | 41 | €80,576 | €116,653 | +€36,077 | +44.8% |
| Current investments | 50/53 | €66,716 | €66,716 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €38,633 | €16,204 | -€22,429 | -58.1% |
| Total equity and liabilities | 10/49 | €1,208,574 | €1,191,640 | -€16,934 | -1.4% |
| Equity | 10/15 | €1,183,406 | €1,165,848 | -€17,558 | -1.5% |
| Contributions | 10/11 | €31,000 | €31,000 | = | 0.0% |
| Reserves | 13 | €1,152,406 | €1,134,848 | -€17,558 | -1.5% |
| Non-distributable reserves | 130/1 | €3,100 | €3,100 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,100 | €3,100 | = | 0.0% |
| Tax-exempt reserves | 132 | €63,133 | €61,025 | -€2,108 | -3.3% |
| Distributable reserves | 133 | €1,086,172 | €1,070,723 | -€15,449 | -1.4% |
| Provisions and deferred taxes | 16 | €25,042 | €23,957 | -€1,085 | -4.3% |
| Deferred taxes | 168 | €25,042 | €23,957 | -€1,085 | -4.3% |
| Amounts payable | 17/49 | €126 | €1,834 | +€1,708 | +1355.9% |
| Amounts payable within one year | 42/48 | €126 | €1,834 | +€1,708 | +1355.9% |
| Trade debts | 44 | €126 | €1,760 | +€1,634 | +1296.5% |
| Suppliers | 440/4 | €126 | €1,760 | +€1,634 | +1296.5% |
| Taxes, remuneration and social security | 45 | - | €75 | +€75 | |
| Taxes | 450/3 | - | €75 | +€75 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €39,665 | €43,014 | +€3,349 | +8.4% |
| Other operating charges | 640/8 | €4,477 | €4,615 | +€138 | +3.1% |
| Gross operating margin | 9900 | €27,954 | €27,976 | +€21 | +0.1% |
| Operating profit (loss) | 9901 | -€16,187 | -€19,654 | -€3,466 | -21.4% |
| Financial income | 75/76B | €10,463 | €1,016 | -€9,448 | -90.3% |
| Recurring financial income | 75 | €10,463 | €1,016 | -€9,448 | -90.3% |
| Financial charges | 65/66B | €44 | €45 | +€2 | +4.0% |
| Recurring financial charges | 65 | €44 | €45 | +€2 | +4.0% |
| Profit (loss) for the period before taxes | 9903 | -€5,768 | -€18,683 | -€12,916 | -223.9% |
| Transfer from deferred taxes | 780 | €1,086 | €1,085 | -€1 | -0.1% |
| Income taxes | 67/77 | -€208 | -€41 | +€167 | +80.4% |
| Profit (loss) for the period | 9904 | -€4,474 | -€17,558 | -€13,084 | -292.4% |
| Transfer from tax-exempt reserves | 789 | €2,108 | €2,108 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,366 | -€15,449 | -€13,084 | -553.1% |
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 28 September 2026 via checked.be.