ALMAZ: 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.
ALMAZ
Largest movements
- Stocks and contracts -€974,284
down €974,284 (-39.8%), from €2.5m to €1.5m
- Receivables within one year +€188,594
up €188,594 (+216%), from €87,341 to €275,935
of which Trade receivables: +€189,435
- Cash +€102,354
up €102,354 (+471%), from €21,728 to €124,081
mainly Stocks and contracts (+€974,284) and Net result for the year (+€286,327)
- Trade debts -€998,067
down €998,067 (-40.2%), from €2.5m to €1.5m
- Profit (loss) carried forward +€286,327
up €286,327 (+53.2%), from -€537,862 to -€251,535
- Tax, wage and social debts +€30,694
up €30,694 (+1,839%), from €1,669 to €32,363
of which Remuneration and social security: +€31,336
- Gross operating margin +€554,752
up €554,752, from -€262,932 to €291,820
- Financial charges -€358,769
down €358,769 (-99.3%), from €361,298 to €2,529
- Financial income -€239,990
no longer reported in 2025 (was €239,990)
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 | €2,559,740 | €1,876,154 | -€683,586 | -26.7% |
| Fixed assets | 21/28 | €250 | €0 | -€250 | -100% |
| Tangible fixed assets | 22/27 | €250 | €0 | -€250 | -100% |
| Plant, machinery and equipment | 23 | €250 | €0 | -€250 | -100% |
| Furniture and vehicles | 24 | €0 | €0 | = | |
| Current assets | 29/58 | €2,559,490 | €1,876,154 | -€683,336 | -26.7% |
| Stocks and contracts in progress | 3 | €2,450,422 | €1,476,137 | -€974,284 | -39.8% |
| Stocks | 30/36 | €2,450,422 | €1,476,137 | -€974,284 | -39.8% |
| Amounts receivable within one year | 40/41 | €87,341 | €275,935 | +€188,594 | +216% |
| Trade receivables | 40 | €86,151 | €275,586 | +€189,435 | +220% |
| Other amounts receivable | 41 | €1,190 | €349 | -€841 | -70.7% |
| Cash at bank and in hand | 54/58 | €21,728 | €124,081 | +€102,354 | +471% |
| Total equity and liabilities | 10/49 | €2,559,740 | €1,876,154 | -€683,586 | -26.7% |
| Equity | 10/15 | -€182,293 | €104,034 | +€286,327 | |
| Contributions | 10/11 | €6,205 | €6,205 | = | 0.0% |
| Reserves | 13 | €349,364 | €349,364 | = | 0.0% |
| Distributable reserves | 133 | €349,364 | €349,364 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€537,862 | -€251,535 | +€286,327 | +53.2% |
| Amounts payable | 17/49 | €2,742,033 | €1,772,120 | -€969,913 | -35.4% |
| Amounts payable within one year | 42/48 | €2,697,033 | €1,712,120 | -€984,913 | -36.5% |
| Trade debts | 44 | €2,481,291 | €1,483,224 | -€998,067 | -40.2% |
| Suppliers | 440/4 | €2,481,291 | €1,483,224 | -€998,067 | -40.2% |
| Taxes, remuneration and social security | 45 | €1,669 | €32,363 | +€30,694 | +1,839% |
| Taxes | 450/3 | €1,669 | €1,027 | -€642 | -38.5% |
| Remuneration and social security | 454/9 | - | €31,336 | +€31,336 | |
| Other amounts payable | 47/48 | €214,073 | €196,532 | -€17,540 | -8.2% |
| Accrued charges and deferred income | 492/3 | €45,000 | €60,000 | +€15,000 | +33.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €368 | €250 | -€118 | -32.1% |
| Other operating charges | 640/8 | €2,770 | €395 | -€2,375 | -85.7% |
| Gross operating margin | 9900 | -€262,932 | €291,820 | +€554,752 | |
| Operating profit (loss) | 9901 | -€266,070 | €291,175 | +€557,246 | |
| Financial income | 75/76B | €239,990 | - | -€239,990 | |
| Recurring financial income | 75 | €239,990 | - | -€239,990 | |
| Financial charges | 65/66B | €361,298 | €2,529 | -€358,769 | -99.3% |
| Recurring financial charges | 65 | €361,298 | €2,529 | -€358,769 | -99.3% |
| Profit (loss) for the period before taxes | 9903 | -€387,378 | €288,646 | +€676,024 | |
| Income taxes | 67/77 | €1,304 | €2,320 | +€1,016 | +77.9% |
| Profit (loss) for the period | 9904 | -€388,682 | €286,327 | +€675,009 | |
| Profit (loss) for the period to be appropriated | 9905 | -€388,682 | €286,327 | +€675,009 |
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.