ALMC: 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.
What changed
ALMC
NACE 77.120, Rental and leasing activities
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€46,606
2024 · €52,306-€5,700
Equity
€1.5m
2024 · €1.4m+€46,606
Cash
€81,121
2024 · €78,083+€3,038
Balance sheet total
€1.5m
2024 · €1.5m+€30,663
Largest movements
Assets
- Current investments +€34,876
up €34,876 (+4.6%), from €764,907 to €799,784
- Receivables within one year -€18,994
down €18,994 (-4.0%), from €472,300 to €453,307
of which Other amounts receivable: -€21,906
Equity and liabilities
- Reserves +€46,606
up €46,606 (+4.9%), from €942,968 to €989,574
of which Distributable reserves: +€47,491
Income statement
- Depreciation +€8,120
up €8,120 (+27.1%), from €30,016 to €38,136
- Taxes -€2,894
down €2,894 (-12.3%), from €23,535 to €20,642
- Financial income -€2,416
down €2,416 (-22.6%), from €10,710 to €8,294
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.
Result 2024
€52,306
Gross operating margin
+€405
Depreciation
-€8,120
Other operating charges
+€194
Other operating items
+€860
Financial income
-€2,416
Financial charges
+€484
Taxes
+€2,894
Result 2025
€46,606
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.
From operations
+€87,414
Investment
-€84,376
Financing
€0
Cash 2024
€78,083
From operations (derived)
+€87,414
Net result for the year
+€46,606
Depreciation
+€38,136
Stocks and contracts
-€2,689
Receivables within one year
+€18,994
Deferred charges and accrued income
+€2,310
Provisions
-€295
Trade debts
-€10,813
Tax, wage and social debts
-€1,390
Advances received
+€273
Other debts
-€3,052
Accrued charges and deferred income
-€666
Investment (derived)
-€84,376
Investment in fixed assets (net)
-€49,500
Current investments
-€34,876
Cash 2025
€81,121
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,515,544 | €1,546,207 | +€30,663 | +2.0% |
| Fixed assets | 21/28 | €186,293 | €197,657 | +€11,364 | +6.1% |
| Tangible fixed assets | 22/27 | €186,061 | €197,424 | +€11,364 | +6.1% |
| Land and buildings | 22 | €98,185 | €94,338 | -€3,848 | -3.9% |
| Plant, machinery and equipment | 23 | €20,067 | €14,711 | -€5,357 | -26.7% |
| Furniture and vehicles | 24 | €67,808 | €88,376 | +€20,568 | +30.3% |
| Financial fixed assets | 28 | €232 | €232 | = | 0.0% |
| Current assets | 29/58 | €1,329,251 | €1,348,551 | +€19,300 | +1.5% |
| Stocks and contracts in progress | 3 | €10,303 | €12,992 | +€2,689 | +26.1% |
| Stocks | 30/36 | €10,303 | €12,992 | +€2,689 | +26.1% |
| Amounts receivable within one year | 40/41 | €472,300 | €453,307 | -€18,994 | -4.0% |
| Trade receivables | 40 | €19,761 | €22,674 | +€2,913 | +14.7% |
| Other amounts receivable | 41 | €452,539 | €430,633 | -€21,906 | -4.8% |
| Current investments | 50/53 | €764,907 | €799,784 | +€34,876 | +4.6% |
| Cash at bank and in hand | 54/58 | €78,083 | €81,121 | +€3,038 | +3.9% |
| Deferred charges and accrued income | 490/1 | €3,658 | €1,347 | -€2,310 | -63.2% |
| Total equity and liabilities | 10/49 | €1,515,544 | €1,546,207 | +€30,663 | +2.0% |
| Equity | 10/15 | €1,439,968 | €1,486,574 | +€46,606 | +3.2% |
| Contributions | 10/11 | €497,000 | €497,000 | = | 0.0% |
| Reserves | 13 | €942,968 | €989,574 | +€46,606 | +4.9% |
| Tax-exempt reserves | 132 | €1,632 | €747 | -€885 | -54.2% |
| Distributable reserves | 133 | €941,336 | €988,827 | +€47,491 | +5.0% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Provisions and deferred taxes | 16 | €544 | €249 | -€295 | -54.2% |
| Deferred taxes | 168 | €544 | €249 | -€295 | -54.2% |
| Amounts payable | 17/49 | €75,032 | €59,385 | -€15,648 | -20.9% |
| Amounts payable within one year | 42/48 | €70,926 | €55,944 | -€14,982 | -21.1% |
| Trade debts | 44 | €13,570 | €2,757 | -€10,813 | -79.7% |
| Suppliers | 440/4 | €13,570 | €2,757 | -€10,813 | -79.7% |
| Advances received on contracts in progress | 46 | - | €273 | +€273 | |
| Taxes, remuneration and social security | 45 | €7,435 | €6,045 | -€1,390 | -18.7% |
| Taxes | 450/3 | €7,435 | €6,045 | -€1,390 | -18.7% |
| Other amounts payable | 47/48 | €49,921 | €46,869 | -€3,052 | -6.1% |
| Accrued charges and deferred income | 492/3 | €4,107 | €3,441 | -€666 | -16.2% |
| Non-recurring operating income | 76A | €13,500 | €0 | -€13,500 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,016 | €38,136 | +€8,120 | +27.1% |
| Other operating charges | 640/8 | €3,546 | €3,352 | -€194 | -5.5% |
| Non-recurring operating charges | 66A | €1,116 | €257 | -€860 | -77.0% |
| Gross operating margin | 9900 | €104,465 | €104,869 | +€405 | +0.4% |
| Operating profit (loss) | 9901 | €69,786 | €63,124 | -€6,662 | -9.5% |
| Financial income | 75/76B | €10,710 | €8,294 | -€2,416 | -22.6% |
| Recurring financial income | 75 | €10,710 | €8,294 | -€2,416 | -22.6% |
| Financial charges | 65/66B | €4,950 | €4,465 | -€484 | -9.8% |
| Recurring financial charges | 65 | €4,950 | €4,465 | -€484 | -9.8% |
| Profit (loss) for the period before taxes | 9903 | €75,546 | €66,953 | -€8,593 | -11.4% |
| Transfer from deferred taxes | 780 | €295 | €295 | = | 0.0% |
| Income taxes | 67/77 | €23,535 | €20,642 | -€2,894 | -12.3% |
| Profit (loss) for the period | 9904 | €52,306 | €46,606 | -€5,700 | -10.9% |
| Transfer from tax-exempt reserves | 789 | €885 | €885 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €53,191 | €47,491 | -€5,700 | -10.7% |
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.