ALSBO: 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.
ALSBO
Largest movements
- Tangible fixed assets +€290,580
up €290,580 (+16.8%), from €1.7m to €2.0m
of which Leasing and similar rights: +€381,929
- Receivables within one year -€61,724
down €61,724 (-7.3%), from €841,326 to €779,602
of which Trade receivables: -€96,635
- Debts after one year +€429,336
up €429,336 (+62.0%), from €692,011 to €1.1m
- Other debts -€230,161
down €230,161 (-38.9%), from €591,397 to €361,236
- Current portion of long-term debt +€87,322
up €87,322 (+105.0%), from €83,128 to €170,450
- Trade debts -€86,065
down €86,065 (-68.8%), from €125,159 to €39,094
- Reserves +€34,127
up €34,127 (+6.2%), from €552,321 to €586,448
of which Distributable reserves: +€34,127
- Gross operating margin -€56,156
down €56,156 (-17.2%), from €326,849 to €270,693
- Depreciation +€4,002
up €4,002 (+3.8%), from €104,068 to €108,070
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 | €2,582,969 | €2,824,446 | +€241,477 | +9.3% |
| Fixed assets | 21/28 | €1,728,265 | €2,018,845 | +€290,580 | +16.8% |
| Tangible fixed assets | 22/27 | €1,726,406 | €2,016,986 | +€290,580 | +16.8% |
| Land and buildings | 22 | €1,660,445 | €1,605,008 | -€55,437 | -3.3% |
| Plant, machinery and equipment | 23 | €34,692 | €17,161 | -€17,531 | -50.5% |
| Furniture and vehicles | 24 | €31,269 | €12,888 | -€18,381 | -58.8% |
| Leasing and similar rights | 25 | - | €381,929 | +€381,929 | |
| Financial fixed assets | 28 | €1,859 | €1,859 | = | 0.0% |
| Current assets | 29/58 | €854,704 | €805,601 | -€49,103 | -5.7% |
| Amounts receivable within one year | 40/41 | €841,326 | €779,602 | -€61,724 | -7.3% |
| Trade receivables | 40 | €580,987 | €484,352 | -€96,635 | -16.6% |
| Other amounts receivable | 41 | €260,339 | €295,250 | +€34,911 | +13.4% |
| Cash at bank and in hand | 54/58 | €4,517 | €10,576 | +€6,060 | +134.2% |
| Deferred charges and accrued income | 490/1 | €8,862 | €15,423 | +€6,561 | +74.0% |
| Total equity and liabilities | 10/49 | €2,582,969 | €2,824,446 | +€241,477 | +9.3% |
| Equity | 10/15 | €815,088 | €849,215 | +€34,127 | +4.2% |
| Contributions | 10/11 | €262,767 | €262,767 | = | 0.0% |
| Capital | 10 | €262,767 | €262,767 | = | 0.0% |
| Issued capital | 100 | €262,767 | €262,767 | = | 0.0% |
| Reserves | 13 | €552,321 | €586,448 | +€34,127 | +6.2% |
| Non-distributable reserves | 130/1 | €26,285 | €26,285 | = | 0.0% |
| Legal reserve | 130 | €26,277 | €26,277 | = | 0.0% |
| Reserves not available under the articles | 1311 | €9 | €9 | = | 0.0% |
| Tax-exempt reserves | 132 | €18,560 | €18,560 | = | 0.0% |
| Distributable reserves | 133 | €507,476 | €541,602 | +€34,127 | +6.7% |
| Amounts payable | 17/49 | €1,767,881 | €1,975,231 | +€207,350 | +11.7% |
| Amounts payable after more than one year | 17 | €692,011 | €1,121,347 | +€429,336 | +62.0% |
| Financial debts | 170/4 | €692,011 | €1,121,347 | +€429,336 | +62.0% |
| Amounts payable within one year | 42/48 | €1,075,355 | €853,884 | -€221,471 | -20.6% |
| Current portion of amounts payable after more than one year | 42 | €83,128 | €170,450 | +€87,322 | +105.0% |
| Financial debts | 43 | €250,000 | €250,000 | = | 0.0% |
| Credit institutions | 430/8 | €250,000 | €250,000 | = | 0.0% |
| Trade debts | 44 | €125,159 | €39,094 | -€86,065 | -68.8% |
| Suppliers | 440/4 | €125,159 | €39,094 | -€86,065 | -68.8% |
| Taxes, remuneration and social security | 45 | €25,671 | €33,104 | +€7,433 | +29.0% |
| Taxes | 450/3 | €25,671 | €33,104 | +€7,433 | +29.0% |
| Other amounts payable | 47/48 | €591,397 | €361,236 | -€230,161 | -38.9% |
| Accrued charges and deferred income | 492/3 | €515 | €0 | -€515 | -100.0% |
| Non-recurring operating income | 76A | €11,550 | €53,744 | +€42,194 | +365.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €104,068 | €108,070 | +€4,002 | +3.8% |
| Other operating charges | 640/8 | €35,552 | €35,959 | +€407 | +1.1% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €326,849 | €270,693 | -€56,156 | -17.2% |
| Operating profit (loss) | 9901 | €187,229 | €126,664 | -€60,565 | -32.3% |
| Financial charges | 65/66B | €79,153 | €80,134 | +€981 | +1.2% |
| Recurring financial charges | 65 | €79,153 | €80,134 | +€981 | +1.2% |
| Profit (loss) for the period before taxes | 9903 | €108,076 | €46,530 | -€61,546 | -56.9% |
| Income taxes | 67/77 | €12,198 | €12,403 | +€205 | +1.7% |
| Profit (loss) for the period | 9904 | €95,877 | €34,127 | -€61,751 | -64.4% |
| Profit (loss) for the period to be appropriated | 9905 | €95,877 | €34,127 | -€61,751 | -64.4% |
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 11 October 2026 via checked.be.