Alse Projecten: 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.
Alse Projecten
Largest movements
- Receivables within one year +€80,510
up €80,510 (+29.6%), from €271,680 to €352,190
of which Trade receivables: +€96,414
- Tangible fixed assets -€71,748
down €71,748 (-13.3%), from €539,341 to €467,594
- Cash +€48,310
up €48,310 (+6.4%), from €759,705 to €808,015
mainly Net result for the year (+€124,449) and Accrued charges and deferred income (+€113,160)
- Current investments +€29,280
up €29,280 (+117.1%), from €25,005 to €54,285
- Reserves +€124,449
up €124,449 (+15.9%), from €781,889 to €906,337
- Accrued charges and deferred income +€113,160
up €113,160 (+52.6%), from €215,101 to €328,261
- Tax, wage and social debts -€56,951
down €56,951 (-88.7%), from €64,172 to €7,220
of which Taxes: -€53,012
- Debts after one year -€50,341
down €50,341 (-9.9%), from €507,507 to €457,166
- Other debts -€42,934
down €42,934 (-50.4%), from €85,142 to €42,208
- Gross operating margin -€143,736
down €143,736 (-29.6%), from €486,403 to €342,667
- Staff costs -€64,005
down €64,005 (-33.9%), from €188,810 to €124,804
- Financial income +€22,443
up €22,443 (+52.3%), from €42,884 to €65,327
- Depreciation -€15,277
down €15,277 (-17.6%), from €87,025 to €71,748
- Financial charges -€7,590
down €7,590 (-39.0%), from €19,458 to €11,867
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 | €1,777,732 | €1,859,790 | +€82,058 | +4.6% |
| Fixed assets | 21/28 | €540,641 | €468,894 | -€71,748 | -13.3% |
| Tangible fixed assets | 22/27 | €539,341 | €467,594 | -€71,748 | -13.3% |
| Land and buildings | 22 | €467,368 | €434,631 | -€32,737 | -7.0% |
| Plant, machinery and equipment | 23 | €9,180 | €6,845 | -€2,335 | -25.4% |
| Furniture and vehicles | 24 | €12,429 | €6,415 | -€6,014 | -48.4% |
| Other tangible fixed assets | 26 | €50,365 | €19,704 | -€30,662 | -60.9% |
| Financial fixed assets | 28 | €1,300 | €1,300 | = | 0.0% |
| Current assets | 29/58 | €1,237,090 | €1,390,896 | +€153,806 | +12.4% |
| Stocks and contracts in progress | 3 | €168,078 | €176,405 | +€8,327 | +5.0% |
| Stocks | 30/36 | €168,078 | €176,405 | +€8,327 | +5.0% |
| Amounts receivable within one year | 40/41 | €271,680 | €352,190 | +€80,510 | +29.6% |
| Trade receivables | 40 | €241,535 | €337,949 | +€96,414 | +39.9% |
| Other amounts receivable | 41 | €30,145 | €14,241 | -€15,904 | -52.8% |
| Current investments | 50/53 | €25,005 | €54,285 | +€29,280 | +117.1% |
| Cash at bank and in hand | 54/58 | €759,705 | €808,015 | +€48,310 | +6.4% |
| Deferred charges and accrued income | 490/1 | €12,622 | €0 | -€12,622 | -100.0% |
| Total equity and liabilities | 10/49 | €1,777,732 | €1,859,790 | +€82,058 | +4.6% |
| Equity | 10/15 | €794,289 | €918,737 | +€124,449 | +15.7% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €781,889 | €906,337 | +€124,449 | +15.9% |
| Distributable reserves | 133 | €781,889 | €906,337 | +€124,449 | +15.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €983,443 | €941,052 | -€42,391 | -4.3% |
| Amounts payable after more than one year | 17 | €507,507 | €457,166 | -€50,341 | -9.9% |
| Financial debts | 170/4 | €507,507 | €457,166 | -€50,341 | -9.9% |
| Amounts payable within one year | 42/48 | €260,835 | €155,625 | -€105,210 | -40.3% |
| Current portion of amounts payable after more than one year | 42 | €60,963 | €54,131 | -€6,832 | -11.2% |
| Financial debts | 43 | €11,432 | €11,529 | +€97 | +0.8% |
| Credit institutions | 430/8 | €11,432 | €11,529 | +€97 | +0.8% |
| Trade debts | 44 | €39,126 | €40,537 | +€1,411 | +3.6% |
| Suppliers | 440/4 | €39,126 | €40,537 | +€1,411 | +3.6% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €64,172 | €7,220 | -€56,951 | -88.7% |
| Taxes | 450/3 | €60,232 | €7,220 | -€53,012 | -88.0% |
| Remuneration and social security | 454/9 | €3,940 | €0 | -€3,940 | -100.0% |
| Other amounts payable | 47/48 | €85,142 | €42,208 | -€42,934 | -50.4% |
| Accrued charges and deferred income | 492/3 | €215,101 | €328,261 | +€113,160 | +52.6% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €188,810 | €124,804 | -€64,005 | -33.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €87,025 | €71,748 | -€15,277 | -17.6% |
| Other operating charges | 640/8 | €9,527 | €9,925 | +€398 | +4.2% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €486,403 | €342,667 | -€143,736 | -29.6% |
| Operating profit (loss) | 9901 | €201,041 | €136,190 | -€64,852 | -32.3% |
| Financial income | 75/76B | €42,884 | €65,327 | +€22,443 | +52.3% |
| Recurring financial income | 75 | €42,884 | €65,327 | +€22,443 | +52.3% |
| Financial charges | 65/66B | €19,458 | €11,867 | -€7,590 | -39.0% |
| Recurring financial charges | 65 | €19,458 | €11,867 | -€7,590 | -39.0% |
| Profit (loss) for the period before taxes | 9903 | €224,468 | €189,649 | -€34,819 | -15.5% |
| Income taxes | 67/77 | €69,672 | €65,200 | -€4,472 | -6.4% |
| Profit (loss) for the period | 9904 | €154,796 | €124,449 | -€30,347 | -19.6% |
| Profit (loss) for the period to be appropriated | 9905 | €154,796 | €124,449 | -€30,347 | -19.6% |
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 5 October 2026 via checked.be.