ALMAS: 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.
ALMAS
Largest movements
- Cash -€1.1m
down €1.1m (-99.7%), from €1.1m to €3,132
mainly Investment in fixed assets (net) (-€789,470) and Trade debts (-€308,478)
- Tangible fixed assets +€785,302
up €785,302 (+158.3%), from €496,122 to €1.3m
of which Assets under construction and advance payments: +€791,080
- Receivables within one year -€70,130
down €70,130 (-67.3%), from €104,146 to €34,016
of which Other amounts receivable: -€69,989
- Current investments +€55,000
new in 2025: €55,000
- Trade debts -€308,478
down €308,478 (-100.0%), from €308,552 to €74
- Gross operating margin -€884,991
down €884,991, from €881,155 to -€3,835
- Financial income -€37,974
down €37,974 (-88.1%), from €43,119 to €5,145
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 | €1,682,829 | €1,376,393 | -€306,436 | -18.2% |
| Fixed assets | 21/28 | €498,943 | €1,284,245 | +€785,302 | +157.4% |
| Tangible fixed assets | 22/27 | €496,122 | €1,281,425 | +€785,302 | +158.3% |
| Land and buildings | 22 | €489,117 | €489,117 | = | 0.0% |
| Plant, machinery and equipment | 23 | €324 | €104 | -€219 | -67.8% |
| Furniture and vehicles | 24 | €6,682 | €1,124 | -€5,558 | -83.2% |
| Assets under construction and advance payments | 27 | - | €791,080 | +€791,080 | |
| Financial fixed assets | 28 | €2,821 | €2,821 | = | 0.0% |
| Current assets | 29/58 | €1,183,886 | €92,148 | -€1.1m | -92.2% |
| Amounts receivable within one year | 40/41 | €104,146 | €34,016 | -€70,130 | -67.3% |
| Trade receivables | 40 | €141 | - | -€141 | |
| Other amounts receivable | 41 | €104,005 | €34,016 | -€69,989 | -67.3% |
| Current investments | 50/53 | - | €55,000 | +€55,000 | |
| Cash at bank and in hand | 54/58 | €1,078,867 | €3,132 | -€1.1m | -99.7% |
| Deferred charges and accrued income | 490/1 | €873 | - | -€873 | |
| Total equity and liabilities | 10/49 | €1,682,829 | €1,376,393 | -€306,436 | -18.2% |
| Equity | 10/15 | €1,149,704 | €1,145,300 | -€4,405 | -0.4% |
| Contributions | 10/11 | €400,000 | €400,000 | = | 0.0% |
| Capital | 10 | €400,000 | €400,000 | = | 0.0% |
| Issued capital | 100 | €400,000 | €400,000 | = | 0.0% |
| Reserves | 13 | €705,526 | €705,526 | = | 0.0% |
| Non-distributable reserves | 130/1 | €40,000 | €40,000 | = | 0.0% |
| Legal reserve | 130 | €40,000 | €40,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €665,526 | €665,526 | = | 0.0% |
| Profit (loss) carried forward | 14 | €44,178 | €39,774 | -€4,405 | -10.0% |
| Provisions and deferred taxes | 16 | €221,850 | €221,850 | = | 0.0% |
| Deferred taxes | 168 | €221,850 | €221,850 | = | 0.0% |
| Amounts payable | 17/49 | €311,275 | €9,243 | -€302,031 | -97.0% |
| Amounts payable within one year | 42/48 | €311,275 | €9,243 | -€302,031 | -97.0% |
| Trade debts | 44 | €308,552 | €74 | -€308,478 | -100.0% |
| Suppliers | 440/4 | €308,552 | €74 | -€308,478 | -100.0% |
| Taxes, remuneration and social security | 45 | - | €9,169 | +€9,169 | |
| Taxes | 450/3 | - | €9,169 | +€9,169 | |
| Other amounts payable | 47/48 | €2,723 | - | -€2,723 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,513 | €4,168 | -€2,345 | -36.0% |
| Other operating charges | 640/8 | €968 | €1,015 | +€47 | +4.9% |
| Gross operating margin | 9900 | €881,155 | -€3,835 | -€884,991 | |
| Operating profit (loss) | 9901 | €873,675 | -€9,018 | -€882,693 | |
| Financial income | 75/76B | €43,119 | €5,145 | -€37,974 | -88.1% |
| Recurring financial income | 75 | €43,119 | €5,145 | -€37,974 | -88.1% |
| Financial charges | 65/66B | €1,165 | €367 | -€798 | -68.5% |
| Recurring financial charges | 65 | €1,165 | €367 | -€798 | -68.5% |
| Profit (loss) for the period before taxes | 9903 | €915,629 | -€4,240 | -€919,869 | |
| Transfer to deferred taxes | 680 | €221,875 | - | -€221,875 | |
| Income taxes | 67/77 | €2,097 | €165 | -€1,932 | -92.1% |
| Profit (loss) for the period | 9904 | €691,657 | -€4,405 | -€696,061 | |
| Transfer from tax-exempt reserves | 789 | €124 | - | -€124 | |
| Transfer to tax-exempt reserves | 689 | €665,625 | - | -€665,625 | |
| Profit (loss) for the period to be appropriated | 9905 | €26,155 | -€4,405 | -€30,560 |
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.