ALRAET: 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.
ALRAET
Largest movements
- Intangible fixed assets -€27,429
down €27,429 (-16.9%), from €162,242 to €134,813
- Tangible fixed assets -€6,769
down €6,769 (-19.1%), from €35,421 to €28,652
of which Plant, machinery and equipment: -€5,503
- Receivables within one year +€3,699
up €3,699 (+4.1%), from €90,868 to €94,568
of which Trade receivables: +€3,694
- Trade debts -€40,807
down €40,807 (-26.8%), from €152,029 to €111,222
- Accrued charges and deferred income -€24,587
no longer reported in 2025 (was €24,587)
- Other debts +€18,993
up €18,993 (+11.8%), from €160,605 to €179,598
- Tax, wage and social debts +€8,932
up €8,932 (+13.9%), from €64,479 to €73,410
of which Taxes: +€25,092
- Profit (loss) carried forward +€8,108
up €8,108 (+5.1%), from -€160,532 to -€152,424
- Gross operating margin +€6,058
up €6,058 (+1.6%), from €390,591 to €396,648
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €309,368 | €280,006 | -€29,362 | -9.5% |
| Fixed assets | 21/28 | €197,663 | €163,465 | -€34,198 | -17.3% |
| Intangible fixed assets | 21 | €162,242 | €134,813 | -€27,429 | -16.9% |
| Tangible fixed assets | 22/27 | €35,421 | €28,652 | -€6,769 | -19.1% |
| Plant, machinery and equipment | 23 | €28,728 | €23,225 | -€5,503 | -19.2% |
| Other tangible fixed assets | 26 | €6,693 | €5,427 | -€1,266 | -18.9% |
| Current assets | 29/58 | €111,705 | €116,541 | +€4,836 | +4.3% |
| Stocks and contracts in progress | 3 | €20,837 | €21,974 | +€1,137 | +5.5% |
| Stocks | 30/36 | €20,837 | €21,974 | +€1,137 | +5.5% |
| Amounts receivable within one year | 40/41 | €90,868 | €94,568 | +€3,699 | +4.1% |
| Trade receivables | 40 | €90,868 | €94,563 | +€3,694 | +4.1% |
| Other amounts receivable | 41 | - | €5 | +€5 | |
| Total equity and liabilities | 10/49 | €309,368 | €280,006 | -€29,362 | -9.5% |
| Equity | 10/15 | -€92,332 | -€84,224 | +€8,108 | +8.8% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €6,200 | €6,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€160,532 | -€152,424 | +€8,108 | +5.1% |
| Amounts payable | 17/49 | €401,700 | €364,230 | -€37,470 | -9.3% |
| Amounts payable within one year | 42/48 | €377,113 | €364,230 | -€12,882 | -3.4% |
| Trade debts | 44 | €152,029 | €111,222 | -€40,807 | -26.8% |
| Suppliers | 440/4 | €152,029 | €111,222 | -€40,807 | -26.8% |
| Taxes, remuneration and social security | 45 | €64,479 | €73,410 | +€8,932 | +13.9% |
| Taxes | 450/3 | €5,652 | €30,744 | +€25,092 | +444.0% |
| Remuneration and social security | 454/9 | €58,827 | €42,666 | -€16,161 | -27.5% |
| Other amounts payable | 47/48 | €160,605 | €179,598 | +€18,993 | +11.8% |
| Accrued charges and deferred income | 492/3 | €24,587 | - | -€24,587 | |
| Remuneration, social security and pensions | 62 | €337,172 | €339,532 | +€2,360 | +0.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,514 | €36,615 | +€101 | +0.3% |
| Other operating charges | 640/8 | €343 | €405 | +€62 | +18.1% |
| Gross operating margin | 9900 | €390,591 | €396,648 | +€6,058 | +1.6% |
| Operating profit (loss) | 9901 | €16,562 | €20,096 | +€3,534 | +21.3% |
| Financial charges | 65/66B | €9,949 | €6,380 | -€3,569 | -35.9% |
| Recurring financial charges | 65 | €9,949 | €6,380 | -€3,569 | -35.9% |
| Profit (loss) for the period before taxes | 9903 | €6,613 | €13,716 | +€7,103 | +107.4% |
| Income taxes | 67/77 | €4,042 | €5,608 | +€1,566 | +38.7% |
| Profit (loss) for the period | 9904 | €2,571 | €8,108 | +€5,537 | +215.4% |
| Profit (loss) for the period to be appropriated | 9905 | €2,571 | €8,108 | +€5,537 | +215.4% |
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 10 October 2026 via checked.be.