ALOXE: 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.
ALOXE
Largest movements
- Financial fixed assets -€3.5m
down €3.5m (-2.3%), from €150.7m to €147.2m
- Other debts -€76.0m
down €76.0m (-97.0%), from €78.3m to €2.4m
- Debts after one year +€56.6m
up €56.6m (+92.9%), from €60.9m to €117.5m
- Contributions +€10.0m
up €10.0m (+16000.0%), from €62,500 to €10.1m
- Current portion of long-term debt +€3.0m
up €3.0m (+27.6%), from €10.8m to €13.8m
- Short-term financial debts +€2.4m
up €2.4m (+68.6%), from €3.5m to €5.9m
- Financial income -€4.8m
down €4.8m (-33.8%), from €14.3m to €9.5m
of which Non-recurring financial income: -€4.8m
- Financial charges +€1.9m
up €1.9m (+32.0%), from €5.8m to €7.7m
of which Non-recurring financial charges: +€3.0m
- Taxes -€453,877
down €453,877 (-30.2%), from €1.5m to €1.0m
- Gross operating margin -€12,472
down €12,472 (-85.0%), from -€14,679 to -€27,150
- Other operating charges -€966
down €966 (-88.9%), from €1,086 to €120
From the 31-12-2024 result to the 31-12-2025 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 31-12-2024 and 31-12-2025 balance sheets and the 31-12-2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 31-12-2024 | 31-12-2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €152,568,687 | €147,939,148 | -€4.6m | -3.0% |
| Fixed assets | 21/28 | €150,696,866 | €147,169,490 | -€3.5m | -2.3% |
| Tangible fixed assets | 22/27 | €504 | €168 | -€336 | -66.7% |
| Furniture and vehicles | 24 | €504 | €168 | -€336 | -66.7% |
| Financial fixed assets | 28 | €150,696,362 | €147,169,322 | -€3.5m | -2.3% |
| Current assets | 29/58 | €1,871,821 | €769,658 | -€1.1m | -58.9% |
| Amounts receivable within one year | 40/41 | €127,035 | €52,835 | -€74,200 | -58.4% |
| Trade receivables | 40 | €11,760 | €11,760 | = | 0.0% |
| Other amounts receivable | 41 | €115,276 | €41,076 | -€74,200 | -64.4% |
| Current investments | 50/53 | €1,675,000 | €660,000 | -€1.0m | -60.6% |
| Cash at bank and in hand | 54/58 | €69,786 | €55,669 | -€14,117 | -20.2% |
| Deferred charges and accrued income | 490/1 | €0 | €1,153 | +€1,153 | |
| Total equity and liabilities | 10/49 | €152,568,687 | €147,939,148 | -€4.6m | -3.0% |
| Equity | 10/15 | -€3,473,903 | €7,136,236 | +€10.6m | |
| Contributions | 10/11 | €62,500 | €10,062,500 | +€10.0m | +16000.0% |
| Capital | 10 | €62,500 | €10,062,500 | +€10.0m | +16000.0% |
| Issued capital | 100 | €62,500 | €10,062,500 | +€10.0m | +16000.0% |
| Reserves | 13 | €50,914 | €50,914 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,250 | €6,250 | = | 0.0% |
| Legal reserve | 130 | €6,250 | €6,250 | = | 0.0% |
| Distributable reserves | 133 | €44,664 | €44,664 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€3,587,317 | -€2,977,178 | +€610,139 | +17.0% |
| Amounts payable | 17/49 | €156,042,590 | €140,802,912 | -€15.2m | -9.8% |
| Amounts payable after more than one year | 17 | €60,908,896 | €117,487,440 | +€56.6m | +92.9% |
| Financial debts | 170/4 | €60,908,896 | €117,487,440 | +€56.6m | +92.9% |
| Amounts payable within one year | 42/48 | €95,133,694 | €23,315,472 | -€71.8m | -75.5% |
| Current portion of amounts payable after more than one year | 42 | €10,790,629 | €13,769,081 | +€3.0m | +27.6% |
| Financial debts | 43 | €3,500,000 | €5,900,000 | +€2.4m | +68.6% |
| Credit institutions | 430/8 | €3,500,000 | €5,900,000 | +€2.4m | +68.6% |
| Trade debts | 44 | €4,915 | €10,269 | +€5,354 | +108.9% |
| Suppliers | 440/4 | €4,915 | €10,269 | +€5,354 | +108.9% |
| Taxes, remuneration and social security | 45 | €2,503,023 | €1,268,098 | -€1.2m | -49.3% |
| Taxes | 450/3 | €2,503,023 | €1,268,098 | -€1.2m | -49.3% |
| Other amounts payable | 47/48 | €78,335,127 | €2,368,024 | -€76.0m | -97.0% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €508 | - | -€508 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €168 | €336 | +€168 | +100.0% |
| Other operating charges | 640/8 | €1,086 | €120 | -€966 | -88.9% |
| Non-recurring operating charges | 66A | €5,291,590 | €96,554 | -€5.2m | -98.2% |
| Gross operating margin | 9900 | -€14,679 | -€27,150 | -€12,472 | -85.0% |
| Operating profit (loss) | 9901 | -€5,307,522 | -€124,160 | +€5.2m | +97.7% |
| Financial income | 75/76B | €14,328,906 | €9,479,104 | -€4.8m | -33.8% |
| Recurring financial income | 75 | €9,061,210 | €8,996,893 | -€64,317 | -0.7% |
| Non-recurring financial income | 76B | €5,267,696 | €482,211 | -€4.8m | -90.8% |
| Financial charges | 65/66B | €5,831,259 | €7,697,094 | +€1.9m | +32.0% |
| Recurring financial charges | 65 | €5,831,259 | €4,723,820 | -€1.1m | -19.0% |
| Non-recurring financial charges | 66B | - | €2,973,274 | +€3.0m | |
| Profit (loss) for the period before taxes | 9903 | €3,190,125 | €1,657,849 | -€1.5m | -48.0% |
| Income taxes | 67/77 | €1,501,587 | €1,047,710 | -€453,877 | -30.2% |
| Profit (loss) for the period | 9904 | €1,688,538 | €610,139 | -€1.1m | -63.9% |
| Profit (loss) for the period to be appropriated | 9905 | €1,688,538 | €610,139 | -€1.1m | -63.9% |
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 4 October 2026 via checked.be.