ALMIVER: 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.
ALMIVER
Largest movements
- Tangible fixed assets +€17.4m
up €17.4m (+269.3%), from €6.5m to €23.8m
of which Land and buildings: +€17.4m
- Financial fixed assets -€4.9m
down €4.9m (-57.1%), from €8.6m to €3.7m
- Receivables within one year +€327,790
up €327,790 (+130.0%), from €252,080 to €579,870
of which Other amounts receivable: +€341,402
- Revaluation surpluses +€18.2m
new in 2025: €18.2m
- Reserves -€4.0m
down €4.0m (-97.5%), from €4.1m to €101,445
- Debts after one year -€714,715
down €714,715 (-23.2%), from €3.1m to €2.4m
of which Financial debts: -€714,715
- Profit (loss) carried forward -€338,353
down €338,353 (-100.0%), from €338,353 to €0
- Financial charges +€4.8m
up €4.8m (+2352.5%), from €203,269 to €5.0m
of which Non-recurring financial charges: +€4.9m
- Taxes +€108,485
up €108,485 (+91.2%), from €118,911 to €227,396
- Gross operating margin +€45,622
up €45,622 (+2.4%), from €1.9m to €1.9m
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 | €15,319,279 | €28,126,857 | +€12.8m | +83.6% |
| Fixed assets | 21/28 | €15,058,276 | €27,532,558 | +€12.5m | +82.8% |
| Tangible fixed assets | 22/27 | €6,456,984 | €23,843,224 | +€17.4m | +269.3% |
| Land and buildings | 22 | €6,456,984 | €23,843,224 | +€17.4m | +269.3% |
| Assets under construction and advance payments | 27 | €0 | - | = | |
| Financial fixed assets | 28 | €8,601,293 | €3,689,335 | -€4.9m | -57.1% |
| Current assets | 29/58 | €261,003 | €594,299 | +€333,296 | +127.7% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €252,080 | €579,870 | +€327,790 | +130.0% |
| Trade receivables | 40 | €40,081 | €26,469 | -€13,612 | -34.0% |
| Other amounts receivable | 41 | €211,999 | €553,401 | +€341,402 | +161.0% |
| Cash at bank and in hand | 54/58 | €8,923 | €14,428 | +€5,505 | +61.7% |
| Total equity and liabilities | 10/49 | €15,319,279 | €28,126,857 | +€12.8m | +83.6% |
| Equity | 10/15 | €10,991,989 | €24,846,721 | +€13.9m | +126.0% |
| Contributions | 10/11 | €6,561,131 | €6,561,131 | = | 0.0% |
| Revaluation surpluses | 12 | - | €18,163,264 | +€18.2m | |
| Reserves | 13 | €4,071,449 | €101,445 | -€4.0m | -97.5% |
| Distributable reserves | 133 | €4,071,449 | €101,445 | -€4.0m | -97.5% |
| Profit (loss) carried forward | 14 | €338,353 | €0 | -€338,353 | -100.0% |
| Investment grants | 15 | €21,056 | €20,881 | -€175 | -0.8% |
| Provisions and deferred taxes | 16 | €26,052 | €19,992 | -€6,060 | -23.3% |
| Provisions for liabilities and charges | 160/5 | €25,140 | €19,170 | -€5,970 | -23.7% |
| Other liabilities and charges | 164/5 | €25,140 | €19,170 | -€5,970 | -23.7% |
| Deferred taxes | 168 | €912 | €822 | -€90 | -9.9% |
| Amounts payable | 17/49 | €4,301,239 | €3,260,145 | -€1.0m | -24.2% |
| Amounts payable after more than one year | 17 | €3,075,719 | €2,361,004 | -€714,715 | -23.2% |
| Financial debts | 170/4 | €3,075,719 | €2,361,004 | -€714,715 | -23.2% |
| Other amounts payable | 178/9 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €1,225,520 | €899,141 | -€326,380 | -26.6% |
| Current portion of amounts payable after more than one year | 42 | €706,297 | €720,049 | +€13,752 | +1.9% |
| Trade debts | 44 | €150,458 | €1,694 | -€148,764 | -98.9% |
| Suppliers | 440/4 | €150,458 | €1,694 | -€148,764 | -98.9% |
| Taxes, remuneration and social security | 45 | €118,765 | €177,397 | +€58,633 | +49.4% |
| Taxes | 450/3 | €118,765 | €177,397 | +€58,633 | +49.4% |
| Other amounts payable | 47/48 | €250,000 | €0 | -€250,000 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €858,780 | €872,401 | +€13,621 | +1.6% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €0 | -€5,970 | -€5,970 | |
| Other operating charges | 640/8 | €169,661 | €174,843 | +€5,181 | +3.1% |
| Gross operating margin | 9900 | €1,885,859 | €1,931,481 | +€45,622 | +2.4% |
| Operating profit (loss) | 9901 | €857,417 | €890,207 | +€32,789 | +3.8% |
| Financial income | 75/76B | €8,695 | €13,875 | +€5,181 | +59.6% |
| Recurring financial income | 75 | €8,695 | €13,875 | +€5,181 | +59.6% |
| Financial charges | 65/66B | €203,269 | €4,985,133 | +€4.8m | +2352.5% |
| Recurring financial charges | 65 | €203,269 | €73,175 | -€130,094 | -64.0% |
| Non-recurring financial charges | 66B | - | €4,911,958 | +€4.9m | |
| Profit (loss) for the period before taxes | 9903 | €662,843 | -€4,081,051 | -€4.7m | |
| Transfer from deferred taxes | 780 | €100 | €90 | -€10 | -10.0% |
| Income taxes | 67/77 | €118,911 | €227,396 | +€108,485 | +91.2% |
| Profit (loss) for the period | 9904 | €544,033 | -€4,308,357 | -€4.9m | |
| Profit (loss) for the period to be appropriated | 9905 | €544,033 | -€4,308,357 | -€4.9m |
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.