ALMO: 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.
ALMO
Largest movements
- Tangible fixed assets -€165,102
down €165,102 (-39.3%), from €419,826 to €254,724
of which Plant, machinery and equipment: -€88,054
- Cash -€159,117
down €159,117 (-63.0%), from €252,535 to €93,417
mainly Receivables after one year (-€150,000) and Contributions, distributions and other (-€150,000)
- Receivables after one year +€150,000
new in 2025: €150,000
- Receivables within one year +€109,436
up €109,436 (+90.5%), from €120,907 to €230,342
of which Trade receivables: +€109,624
- Reserves -€55,976
down €55,976 (-54.8%), from €102,069 to €46,093
of which Distributable reserves: -€55,976
- Other debts -€49,000
down €49,000 (-22.5%), from €217,690 to €168,690
- Trade debts +€28,538
up €28,538 (+53.8%), from €52,997 to €81,535
- Gross operating margin +€84,582
up €84,582 (+13.8%), from €612,427 to €697,009
- Staff costs +€65,188
up €65,188 (+21.8%), from €298,479 to €363,667
- Taxes +€9,311
up €9,311 (+34.2%), from €27,208 to €36,519
- Depreciation -€8,694
down €8,694 (-4.8%), from €181,187 to €172,493
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 | €944,586 | €870,873 | -€73,713 | -7.8% |
| Fixed assets | 21/28 | €419,826 | €254,724 | -€165,102 | -39.3% |
| Tangible fixed assets | 22/27 | €419,826 | €254,724 | -€165,102 | -39.3% |
| Land and buildings | 22 | €185,637 | €133,598 | -€52,039 | -28.0% |
| Plant, machinery and equipment | 23 | €174,073 | €86,018 | -€88,054 | -50.6% |
| Furniture and vehicles | 24 | €60,117 | €35,108 | -€25,009 | -41.6% |
| Current assets | 29/58 | €524,760 | €616,148 | +€91,389 | +17.4% |
| Amounts receivable after more than one year | 29 | - | €150,000 | +€150,000 | |
| Other amounts receivable | 291 | - | €150,000 | +€150,000 | |
| Stocks and contracts in progress | 3 | €142,741 | €141,524 | -€1,216 | -0.9% |
| Stocks | 30/36 | €142,741 | €141,524 | -€1,216 | -0.9% |
| Amounts receivable within one year | 40/41 | €120,907 | €230,342 | +€109,436 | +90.5% |
| Trade receivables | 40 | €100,339 | €209,962 | +€109,624 | +109.3% |
| Other amounts receivable | 41 | €20,568 | €20,380 | -€188 | -0.9% |
| Cash at bank and in hand | 54/58 | €252,535 | €93,417 | -€159,117 | -63.0% |
| Deferred charges and accrued income | 490/1 | €8,578 | €864 | -€7,713 | -89.9% |
| Total equity and liabilities | 10/49 | €944,586 | €870,873 | -€73,713 | -7.8% |
| Equity | 10/15 | €202,069 | €146,093 | -€55,976 | -27.7% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €102,069 | €46,093 | -€55,976 | -54.8% |
| Non-distributable reserves | 130/1 | €10,000 | €10,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €10,000 | €10,000 | = | 0.0% |
| Distributable reserves | 133 | €92,069 | €36,093 | -€55,976 | -60.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €742,517 | €724,780 | -€17,737 | -2.4% |
| Amounts payable after more than one year | 17 | €200,000 | €200,000 | = | 0.0% |
| Other amounts payable | 178/9 | €200,000 | €200,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €530,921 | €517,342 | -€13,579 | -2.6% |
| Financial debts | 43 | €200,000 | €200,000 | = | 0.0% |
| Credit institutions | 430/8 | €200,000 | €200,000 | = | 0.0% |
| Trade debts | 44 | €52,997 | €81,535 | +€28,538 | +53.8% |
| Suppliers | 440/4 | €52,997 | €81,535 | +€28,538 | +53.8% |
| Taxes, remuneration and social security | 45 | €60,234 | €67,117 | +€6,883 | +11.4% |
| Taxes | 450/3 | €28,423 | €36,111 | +€7,688 | +27.0% |
| Remuneration and social security | 454/9 | €31,810 | €31,005 | -€805 | -2.5% |
| Other amounts payable | 47/48 | €217,690 | €168,690 | -€49,000 | -22.5% |
| Accrued charges and deferred income | 492/3 | €11,597 | €7,439 | -€4,158 | -35.9% |
| Non-recurring operating income | 76A | €8,373 | €30,220 | +€21,846 | +260.9% |
| Remuneration, social security and pensions | 62 | €298,479 | €363,667 | +€65,188 | +21.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €181,187 | €172,493 | -€8,694 | -4.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €443 | €0 | -€443 | -100.0% |
| Other operating charges | 640/8 | €12,736 | €12,490 | -€246 | -1.9% |
| Non-recurring operating charges | 66A | €1,166 | €0 | -€1,166 | -100.0% |
| Gross operating margin | 9900 | €612,427 | €697,009 | +€84,582 | +13.8% |
| Operating profit (loss) | 9901 | €118,416 | €148,359 | +€29,944 | +25.3% |
| Financial income | 75/76B | €8,087 | €11,693 | +€3,607 | +44.6% |
| Recurring financial income | 75 | €8,087 | €11,693 | +€3,607 | +44.6% |
| Financial charges | 65/66B | €28,618 | €29,510 | +€892 | +3.1% |
| Recurring financial charges | 65 | €28,618 | €29,510 | +€892 | +3.1% |
| Profit (loss) for the period before taxes | 9903 | €97,884 | €130,543 | +€32,659 | +33.4% |
| Income taxes | 67/77 | €27,208 | €36,519 | +€9,311 | +34.2% |
| Profit (loss) for the period | 9904 | €70,676 | €94,024 | +€23,348 | +33.0% |
| Profit (loss) for the period to be appropriated | 9905 | €70,676 | €94,024 | +€23,348 | +33.0% |
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 11 October 2026 via checked.be.