ALMASART: 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.
ALMASART
Largest movements
- Financial fixed assets +€45,905
up €45,905 (+29.4%), from €155,905 to €201,810
- Cash +€25,507
up €25,507 (+35.9%), from €70,999 to €96,507
mainly Net result for the year (+€93,098) and Other debts (+€2,408)
- Receivables within one year +€14,426
new in 2025: €14,426
- Reserves +€92,239
up €92,239 (+78.9%), from €116,856 to €209,095
- Debts after one year -€7,952
down €7,952 (-8.5%), from €93,821 to €85,869
- Tax, wage and social debts -€3,889
down €3,889 (-47.2%), from €8,231 to €4,342
- Taxes +€10,220
up €10,220 (+35.5%), from €28,771 to €38,991
- Gross operating margin -€1,943
down €1,943 (-1.4%), from €139,273 to €137,330
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 | €229,866 | €315,205 | +€85,339 | +37.1% |
| Formation expenses | 20 | €1,803 | €1,321 | -€483 | -26.8% |
| Fixed assets | 21/28 | €156,833 | €202,717 | +€45,884 | +29.3% |
| Tangible fixed assets | 22/27 | €928 | €907 | -€21 | -2.3% |
| Furniture and vehicles | 24 | €928 | €907 | -€21 | -2.3% |
| Financial fixed assets | 28 | €155,905 | €201,810 | +€45,905 | +29.4% |
| Current assets | 29/58 | €71,230 | €111,168 | +€39,938 | +56.1% |
| Amounts receivable within one year | 40/41 | - | €14,426 | +€14,426 | |
| Trade receivables | 40 | - | €14,426 | +€14,426 | |
| Cash at bank and in hand | 54/58 | €70,999 | €96,507 | +€25,507 | +35.9% |
| Deferred charges and accrued income | 490/1 | €231 | €235 | +€4 | +1.8% |
| Total equity and liabilities | 10/49 | €229,866 | €315,205 | +€85,339 | +37.1% |
| Equity | 10/15 | €117,856 | €210,095 | +€92,239 | +78.3% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €116,856 | €209,095 | +€92,239 | +78.9% |
| Distributable reserves | 133 | €116,856 | €209,095 | +€92,239 | +78.9% |
| Amounts payable | 17/49 | €112,010 | €105,110 | -€6,900 | -6.2% |
| Amounts payable after more than one year | 17 | €93,821 | €85,869 | -€7,952 | -8.5% |
| Financial debts | 170/4 | €93,821 | €85,869 | -€7,952 | -8.5% |
| Amounts payable within one year | 42/48 | €18,189 | €19,241 | +€1,052 | +5.8% |
| Current portion of amounts payable after more than one year | 42 | €7,641 | €7,952 | +€311 | +4.1% |
| Trade debts | 44 | - | €2,223 | +€2,223 | |
| Suppliers | 440/4 | - | €2,223 | +€2,223 | |
| Taxes, remuneration and social security | 45 | €8,231 | €4,342 | -€3,889 | -47.2% |
| Taxes | 450/3 | €8,231 | €4,342 | -€3,889 | -47.2% |
| Other amounts payable | 47/48 | €2,317 | €4,725 | +€2,408 | +104% |
| Non-recurring operating income | 76A | €0 | - | -€0 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €510 | €903 | +€393 | +76.9% |
| Other operating charges | 640/8 | €267 | €271 | +€4 | +1.5% |
| Gross operating margin | 9900 | €139,273 | €137,330 | -€1,943 | -1.4% |
| Operating profit (loss) | 9901 | €138,496 | €136,156 | -€2,340 | -1.7% |
| Financial charges | 65/66B | €4,294 | €4,068 | -€227 | -5.3% |
| Recurring financial charges | 65 | €4,294 | €4,068 | -€227 | -5.3% |
| Profit (loss) for the period before taxes | 9903 | €134,202 | €132,089 | -€2,113 | -1.6% |
| Income taxes | 67/77 | €28,771 | €38,991 | +€10,220 | +35.5% |
| Profit (loss) for the period | 9904 | €105,431 | €93,098 | -€12,333 | -11.7% |
| Profit (loss) for the period to be appropriated | 9905 | €105,431 | €93,098 | -€12,333 | -11.7% |
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 15 October 2026 via checked.be.