ALRO: 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.
What changed
ALRO
NACE 25.510, Coating of metals
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€1.3m
2024 · -€22.6m+€21.3m
Equity
-€718,990
2024 · €619,965-€1.3m
Cash
€838
2024 · €1,239-€401
Balance sheet total
€48.1m
2024 · €50.2m-€2.1m
Largest movements
Assets
- Tangible fixed assets -€2.3m
down €2.3m (-36.2%), from €6.5m to €4.1m
of which Plant, machinery and equipment: -€1.9m
- Receivables within one year +€1.2m
up €1.2m (+6.9%), from €17.5m to €18.7m
of which Other amounts receivable: +€3.2m
- Stocks and contracts -€617,907
down €617,907 (-9.8%), from €6.3m to €5.7m
Equity and liabilities
- Debts after one year +€10.4m
up €10.4m (+56.7%), from €18.3m to €28.6m
- Trade debts -€4.7m
down €4.7m (-35.0%), from €13.3m to €8.7m
- Tax, wage and social debts -€3.7m
down €3.7m (-46.1%), from €8.1m to €4.4m
of which Remuneration and social security: -€3.2m
- Current portion of long-term debt -€2.2m
down €2.2m (-57.4%), from €3.8m to €1.6m
- Profit (loss) carried forward -€1.3m
down €1.3m (-32.6%), from -€4.1m to -€5.4m
Income statement
- Financial charges -€15.9m
down €15.9m (-91.8%), from €17.3m to €1.4m
of which Non-recurring financial charges: -€15.4m
- Turnover -€9.2m
down €9.2m (-10.8%), from €84.9m to €75.7m
- Goods and materials -€5.4m
down €5.4m (-12.4%), from €43.8m to €38.4m
of which Purchases: -€4.6m
- Staff costs -€3.2m
down €3.2m (-10.7%), from €29.4m to €26.2m
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.
Result 2024
-€22.6m
Turnover
-€9.2m
Other operating income
+€809,412
Goods and materials
+€5.4m
Services and other goods
+€567,782
Staff costs
+€3.2m
Depreciation
-€764,960
Other operating charges
-€2,804
Other operating items
+€5.6m
Financial income
-€92,634
Financial charges
+€15.9m
Taxes
-€127,202
Result 2025
-€1.3m
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.
From operations
-€7.0m
Investment
-€477,081
Financing
+€7.4m
Cash 2024
€1,239
From operations (derived)
-€7.0m
Net result for the year
-€1.3m
Depreciation
+€2.8m
Stocks and contracts
+€617,907
Receivables within one year
-€1.2m
Deferred charges and accrued income
+€315,928
Trade debts
-€4.7m
Tax, wage and social debts
-€3.7m
Other debts
+€627,000
Accrued charges and deferred income
-€409,993
Investment (derived)
-€477,081
Investment in fixed assets (net)
-€477,081
Financing
+€7.4m
Debts after one year
+€10.4m
Current portion of long-term debt
-€2.2m
Short-term financial debts
-€728,378
Cash 2025
€838
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €50,160,848 | €48,063,841 | -€2.1m | -4.2% |
| Fixed assets | 21/28 | €25,845,687 | €23,479,194 | -€2.4m | -9.2% |
| Tangible fixed assets | 22/27 | €6,467,412 | €4,129,316 | -€2.3m | -36.2% |
| Land and buildings | 22 | €1,709,205 | €1,469,918 | -€239,286 | -14.0% |
| Plant, machinery and equipment | 23 | €4,327,498 | €2,413,160 | -€1.9m | -44.2% |
| Furniture and vehicles | 24 | €280,844 | €174,882 | -€105,963 | -37.7% |
| Leasing and similar rights | 25 | €78,509 | - | -€78,509 | |
| Other tangible fixed assets | 26 | €71,356 | €71,356 | = | 0.0% |
| Financial fixed assets | 28 | €19,378,275 | €19,349,878 | -€28,398 | -0.1% |
| Affiliated companies | 280/1 | €19,378,275 | €19,339,875 | -€38,400 | -0.2% |
| Participating interests | 280 | €19,378,275 | €19,339,875 | -€38,400 | -0.2% |
| Other financial fixed assets | 284/8 | - | €10,002 | +€10,002 | |
| Amounts receivable and cash guarantees | 285/8 | - | €10,002 | +€10,002 | |
| Current assets | 29/58 | €24,315,161 | €24,584,647 | +€269,486 | +1.1% |
| Stocks and contracts in progress | 3 | €6,309,347 | €5,691,440 | -€617,907 | -9.8% |
| Stocks | 30/36 | €6,309,347 | €5,691,440 | -€617,907 | -9.8% |
| Raw materials and consumables | 30/31 | €6,309,347 | €5,691,440 | -€617,907 | -9.8% |
| Amounts receivable within one year | 40/41 | €17,514,644 | €18,718,366 | +€1.2m | +6.9% |
| Trade receivables | 40 | €6,483,611 | €4,479,018 | -€2.0m | -30.9% |
| Other amounts receivable | 41 | €11,031,033 | €14,239,348 | +€3.2m | +29.1% |
| Cash at bank and in hand | 54/58 | €1,239 | €838 | -€401 | -32.4% |
| Deferred charges and accrued income | 490/1 | €489,931 | €174,003 | -€315,928 | -64.5% |
| Total equity and liabilities | 10/49 | €50,160,848 | €48,063,841 | -€2.1m | -4.2% |
| Equity | 10/15 | €619,965 | -€718,990 | -€1.3m | |
| Contributions | 10/11 | €4,194,000 | €4,194,000 | = | 0.0% |
| Capital | 10 | €4,194,000 | €4,194,000 | = | 0.0% |
| Issued capital | 100 | €4,194,000 | €4,194,000 | = | 0.0% |
| Reserves | 13 | €530,493 | €530,493 | = | 0.0% |
| Non-distributable reserves | 130/1 | €419,400 | €419,400 | = | 0.0% |
| Legal reserve | 130 | €419,400 | €419,400 | = | 0.0% |
| Tax-exempt reserves | 132 | €10,383 | €10,383 | = | 0.0% |
| Distributable reserves | 133 | €100,710 | €100,710 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€4,104,528 | -€5,443,483 | -€1.3m | -32.6% |
| Amounts payable | 17/49 | €49,540,883 | €48,782,831 | -€758,052 | -1.5% |
| Amounts payable after more than one year | 17 | €18,277,778 | €28,642,402 | +€10.4m | +56.7% |
| Financial debts | 170/4 | €18,277,778 | €22,966,667 | +€4.7m | +25.7% |
| Credit institutions | 173 | €18,277,778 | €22,966,667 | +€4.7m | +25.7% |
| Trade debts | 175 | - | €2,384,689 | +€2.4m | |
| Suppliers | 1750 | - | €2,384,689 | +€2.4m | |
| Other amounts payable | 178/9 | - | €3,291,046 | +€3.3m | |
| Amounts payable within one year | 42/48 | €30,490,835 | €19,778,152 | -€10.7m | -35.1% |
| Current portion of amounts payable after more than one year | 42 | €3,833,333 | €1,633,333 | -€2.2m | -57.4% |
| Financial debts | 43 | €5,199,047 | €4,470,669 | -€728,378 | -14.0% |
| Credit institutions | 430/8 | €5,199,047 | €4,470,669 | -€728,378 | -14.0% |
| Trade debts | 44 | €13,348,126 | €8,672,373 | -€4.7m | -35.0% |
| Suppliers | 440/4 | €13,348,126 | €8,672,373 | -€4.7m | -35.0% |
| Taxes, remuneration and social security | 45 | €8,104,594 | €4,369,042 | -€3.7m | -46.1% |
| Taxes | 450/3 | €716,391 | €203,142 | -€513,249 | -71.6% |
| Remuneration and social security | 454/9 | €7,388,203 | €4,165,900 | -€3.2m | -43.6% |
| Other amounts payable | 47/48 | €5,734 | €632,734 | +€627,000 | +10934.0% |
| Accrued charges and deferred income | 492/3 | €772,270 | €362,277 | -€409,993 | -53.1% |
| Operating income | 70/76A | €85,761,655 | €84,572,563 | -€1.2m | -1.4% |
| Turnover | 70 | €84,898,903 | €75,700,971 | -€9.2m | -10.8% |
| Other operating income | 74 | €862,752 | €1,672,164 | +€809,412 | +93.8% |
| Non-recurring operating income | 76A | - | €7,199,428 | +€7.2m | |
| Operating charges | 60/66A | €91,597,807 | €84,772,694 | -€6.8m | -7.5% |
| Goods for resale, raw materials and consumables | 60 | €43,842,676 | €38,418,706 | -€5.4m | -12.4% |
| Purchases | 600/8 | €42,400,672 | €37,800,799 | -€4.6m | -10.8% |
| Change in stocks: decrease (increase) | 609 | €1,442,004 | €617,907 | -€824,097 | -57.1% |
| Services and other goods | 61 | €15,879,687 | €15,311,905 | -€567,782 | -3.6% |
| Remuneration, social security and pensions | 62 | €29,409,138 | €26,249,263 | -€3.2m | -10.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,078,613 | €2,843,574 | +€764,960 | +36.8% |
| Other operating charges | 640/8 | €252,512 | €255,316 | +€2,804 | +1.1% |
| Non-recurring operating charges | 66A | €135,180 | €1,693,930 | +€1.6m | +1153.1% |
| Operating profit (loss) | 9901 | -€5,836,152 | -€200,131 | +€5.6m | +96.6% |
| Financial income | 75/76B | €380,245 | €287,611 | -€92,634 | -24.4% |
| Recurring financial income | 75 | €380,245 | €287,611 | -€92,634 | -24.4% |
| Income from current assets | 751 | €73,521 | €61,450 | -€12,071 | -16.4% |
| Other financial income | 752/9 | €306,724 | €226,161 | -€80,563 | -26.3% |
| Financial charges | 65/66B | €17,310,008 | €1,422,635 | -€15.9m | -91.8% |
| Recurring financial charges | 65 | €1,856,672 | €1,384,235 | -€472,437 | -25.4% |
| Debt charges | 650 | €1,837,433 | €1,365,456 | -€471,977 | -25.7% |
| Other financial charges | 652/9 | €19,239 | €18,779 | -€460 | -2.4% |
| Non-recurring financial charges | 66B | €15,453,335 | €38,400 | -€15.4m | -99.8% |
| Profit (loss) for the period before taxes | 9903 | -€22,765,914 | -€1,335,155 | +€21.4m | +94.1% |
| Income taxes | 67/77 | -€123,402 | €3,800 | +€127,202 | |
| Taxes | 670/3 | - | €3,800 | +€3,800 | |
| Tax adjustments and reversals of tax provisions | 77 | €123,402 | - | -€123,402 | |
| Profit (loss) for the period | 9904 | -€22,642,512 | -€1,338,955 | +€21.3m | +94.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€22,642,512 | -€1,338,955 | +€21.3m | +94.1% |
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.