ALR MANAGEMENT: 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.
ALR MANAGEMENT
Largest movements
- Receivables within one year +€25,149
up €25,149 (+165%), from €15,221 to €40,370
of which Other amounts receivable: +€28,078
- Cash +€24,977
up €24,977 (+81.5%), from €30,655 to €55,632
mainly Provisions (+€30,109) and Tax, wage and social debts (+€13,918)
- Deferred charges and accrued income +€1,934
new in 2025: €1,934
- Tangible fixed assets +€1,516
up €1,516 (+64.1%), from €2,366 to €3,881
- Provisions +€30,109
new in 2025: €30,109
- Tax, wage and social debts +€13,918
up €13,918 (+82.9%), from €16,797 to €30,715
- Reserves +€11,038
up €11,038 (+39.6%), from €27,861 to €38,899
- Trade debts -€1,463
down €1,463 (-92.6%), from €1,579 to €116
- Provisions +€30,109
new in 2025: €30,109
- Gross operating margin +€19,111
up €19,111 (+51.6%), from €37,057 to €56,168
- Taxes +€3,196
up €3,196 (+39.6%), from €8,080 to €11,276
- Financial charges +€1,640
up €1,640 (+3,972%), from €41 to €1,682
- Other operating charges +€886
up €886 (+84.8%), from €1,045 to €1,931
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 | €48,242 | €101,844 | +€53,602 | +111% |
| Fixed assets | 21/28 | €2,366 | €3,908 | +€1,542 | +65.2% |
| Tangible fixed assets | 22/27 | €2,366 | €3,881 | +€1,516 | +64.1% |
| Other tangible fixed assets | 26 | €2,366 | €3,881 | +€1,516 | +64.1% |
| Financial fixed assets | 28 | - | €26 | +€26 | |
| Current assets | 29/58 | €45,876 | €97,936 | +€52,060 | +113% |
| Amounts receivable within one year | 40/41 | €15,221 | €40,370 | +€25,149 | +165% |
| Trade receivables | 40 | €15,221 | €12,292 | -€2,929 | -19.2% |
| Other amounts receivable | 41 | - | €28,078 | +€28,078 | |
| Cash at bank and in hand | 54/58 | €30,655 | €55,632 | +€24,977 | +81.5% |
| Deferred charges and accrued income | 490/1 | - | €1,934 | +€1,934 | |
| Total equity and liabilities | 10/49 | €48,242 | €101,844 | +€53,602 | +111% |
| Equity | 10/15 | €29,861 | €40,899 | +€11,038 | +37.0% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €27,861 | €38,899 | +€11,038 | +39.6% |
| Distributable reserves | 133 | €27,861 | €38,899 | +€11,038 | +39.6% |
| Provisions and deferred taxes | 16 | - | €30,109 | +€30,109 | |
| Provisions for liabilities and charges | 160/5 | - | €30,109 | +€30,109 | |
| Other liabilities and charges | 164/5 | - | €30,109 | +€30,109 | |
| Amounts payable | 17/49 | €18,381 | €30,836 | +€12,455 | +67.8% |
| Amounts payable within one year | 42/48 | €18,377 | €30,832 | +€12,455 | +67.8% |
| Trade debts | 44 | €1,579 | €116 | -€1,463 | -92.6% |
| Suppliers | 440/4 | €1,579 | €116 | -€1,463 | -92.6% |
| Taxes, remuneration and social security | 45 | €16,797 | €30,715 | +€13,918 | +82.9% |
| Taxes | 450/3 | €16,797 | €30,715 | +€13,918 | +82.9% |
| Accrued charges and deferred income | 492/3 | €4 | €4 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €47 | €608 | +€561 | +1,187% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €30,109 | +€30,109 | |
| Other operating charges | 640/8 | €1,045 | €1,931 | +€886 | +84.8% |
| Gross operating margin | 9900 | €37,057 | €56,168 | +€19,111 | +51.6% |
| Operating profit (loss) | 9901 | €35,965 | €23,520 | -€12,445 | -34.6% |
| Financial income | 75/76B | €17 | €475 | +€458 | +2,729% |
| Recurring financial income | 75 | €17 | €475 | +€458 | +2,729% |
| Financial charges | 65/66B | €41 | €1,682 | +€1,640 | +3,972% |
| Recurring financial charges | 65 | €41 | €1,682 | +€1,640 | +3,972% |
| Profit (loss) for the period before taxes | 9903 | €35,941 | €22,314 | -€13,627 | -37.9% |
| Income taxes | 67/77 | €8,080 | €11,276 | +€3,196 | +39.6% |
| Profit (loss) for the period | 9904 | €27,861 | €11,038 | -€16,823 | -60.4% |
| Profit (loss) for the period to be appropriated | 9905 | €27,861 | €11,038 | -€16,823 | -60.4% |
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 19 October 2026 via checked.be.