ALSIC: 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.
ALSIC
Largest movements
- Receivables within one year +€552,040
up €552,040 (+35.5%), from €1.6m to €2.1m
of which Trade receivables: +€542,348
- Tangible fixed assets +€350,741
up €350,741 (+567.9%), from €61,765 to €412,506
of which Other tangible fixed assets: +€264,953
- Current investments -€100,000
no longer reported in 2025 (was €100,000)
- Deferred charges and accrued income -€79,947
down €79,947 (-54.6%), from €146,487 to €66,541
- Cash +€31,374
up €31,374 (+6.4%), from €492,493 to €523,867
mainly Net result for the year (+€1.2m) and Trade debts (+€467,715)
- Trade debts +€467,715
up €467,715 (+422.5%), from €110,703 to €578,418
- Debts after one year +€278,334
new in 2025: €278,334
- Other debts -€100,000
down €100,000 (-16.7%), from €600,000 to €500,000
- Current portion of long-term debt +€73,901
new in 2025: €73,901
- Reserves +€33,683
up €33,683 (+2.9%), from €1.2m to €1.2m
of which Distributable reserves: +€349,433
- Staff costs +€462,422
up €462,422 (+19.5%), from €2.4m to €2.8m
- Gross operating margin +€213,828
up €213,828 (+5.1%), from €4.2m to €4.4m
- Taxes -€60,123
down €60,123 (-20.0%), from €301,066 to €240,942
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 | €2,366,701 | €3,121,354 | +€754,654 | +31.9% |
| Fixed assets | 21/28 | €71,876 | €423,063 | +€351,186 | +488.6% |
| Tangible fixed assets | 22/27 | €61,765 | €412,506 | +€350,741 | +567.9% |
| Plant, machinery and equipment | 23 | €25,336 | €24,890 | -€445 | -1.8% |
| Furniture and vehicles | 24 | €34,414 | €120,647 | +€86,233 | +250.6% |
| Other tangible fixed assets | 26 | €2,015 | €266,968 | +€264,953 | +13149.0% |
| Financial fixed assets | 28 | €10,111 | €10,557 | +€445 | +4.4% |
| Current assets | 29/58 | €2,294,824 | €2,698,292 | +€403,467 | +17.6% |
| Amounts receivable within one year | 40/41 | €1,555,844 | €2,107,884 | +€552,040 | +35.5% |
| Trade receivables | 40 | €1,555,844 | €2,098,192 | +€542,348 | +34.9% |
| Other amounts receivable | 41 | - | €9,692 | +€9,692 | |
| Current investments | 50/53 | €100,000 | - | -€100,000 | |
| Cash at bank and in hand | 54/58 | €492,493 | €523,867 | +€31,374 | +6.4% |
| Deferred charges and accrued income | 490/1 | €146,487 | €66,541 | -€79,947 | -54.6% |
| Total equity and liabilities | 10/49 | €2,366,701 | €3,121,354 | +€754,654 | +31.9% |
| Equity | 10/15 | €1,258,646 | €1,292,329 | +€33,683 | +2.7% |
| Contributions | 10/11 | €86,797 | €86,797 | = | 0.0% |
| Capital | 10 | €86,797 | €86,797 | = | 0.0% |
| Issued capital | 100 | €99,192 | €99,192 | = | 0.0% |
| Uncalled capital | 101 | €12,395 | €12,395 | = | 0.0% |
| Reserves | 13 | €1,171,849 | €1,205,531 | +€33,683 | +2.9% |
| Non-distributable reserves | 130/1 | €10,459 | €10,459 | = | 0.0% |
| Legal reserve | 130 | €10,459 | €10,459 | = | 0.0% |
| Tax-exempt reserves | 132 | €315,750 | - | -€315,750 | |
| Distributable reserves | 133 | €845,639 | €1,195,072 | +€349,433 | +41.3% |
| Amounts payable | 17/49 | €1,108,055 | €1,829,026 | +€720,971 | +65.1% |
| Amounts payable after more than one year | 17 | - | €278,334 | +€278,334 | |
| Financial debts | 170/4 | - | €278,334 | +€278,334 | |
| Amounts payable within one year | 42/48 | €1,108,055 | €1,550,692 | +€442,637 | +39.9% |
| Current portion of amounts payable after more than one year | 42 | - | €73,901 | +€73,901 | |
| Trade debts | 44 | €110,703 | €578,418 | +€467,715 | +422.5% |
| Suppliers | 440/4 | €110,703 | €578,418 | +€467,715 | +422.5% |
| Taxes, remuneration and social security | 45 | €397,352 | €398,372 | +€1,020 | +0.3% |
| Taxes | 450/3 | €138,657 | €125,036 | -€13,621 | -9.8% |
| Remuneration and social security | 454/9 | €258,695 | €273,337 | +€14,641 | +5.7% |
| Other amounts payable | 47/48 | €600,000 | €500,000 | -€100,000 | -16.7% |
| Remuneration, social security and pensions | 62 | €2,373,145 | €2,835,567 | +€462,422 | +19.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €68,229 | €63,651 | -€4,578 | -6.7% |
| Other operating charges | 640/8 | €6,732 | €5,632 | -€1,100 | -16.3% |
| Non-recurring operating charges | 66A | - | €61,161 | +€61,161 | |
| Gross operating margin | 9900 | €4,201,236 | €4,415,064 | +€213,828 | +5.1% |
| Operating profit (loss) | 9901 | €1,753,130 | €1,449,053 | -€304,077 | -17.3% |
| Financial income | 75/76B | €9,480 | €8,209 | -€1,271 | -13.4% |
| Recurring financial income | 75 | €9,480 | €8,209 | -€1,271 | -13.4% |
| Financial charges | 65/66B | €23,117 | €32,637 | +€9,520 | +41.2% |
| Recurring financial charges | 65 | €23,117 | €32,637 | +€9,520 | +41.2% |
| Profit (loss) for the period before taxes | 9903 | €1,739,494 | €1,424,625 | -€314,868 | -18.1% |
| Income taxes | 67/77 | €301,066 | €240,942 | -€60,123 | -20.0% |
| Profit (loss) for the period | 9904 | €1,438,428 | €1,183,683 | -€254,745 | -17.7% |
| Transfer from tax-exempt reserves | 789 | - | €315,750 | +€315,750 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,438,428 | €1,499,433 | +€61,005 | +4.2% |
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 3 October 2026 via checked.be.