Alsico: 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
Alsico
NACE 14.230, Manufacture of wearing apparel
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€1.2m
2024 · €2.0m-€871,063
Equity
€15.4m
2024 · €14.2m+€1.1m
Cash
€3.1m
2024 · €1.5m+€1.6m
Balance sheet total
€27.1m
2024 · €23.2m+€3.9m
Largest movements
Assets
- Cash +€1.6m
up €1.6m (+107%), from €1.5m to €3.1m
mainly Trade debts (+€1.9m) and Net result for the year (+€1.2m)
- Stocks and contracts +€1.4m
up €1.4m (+12.1%), from €11.2m to €12.6m
- Receivables within one year +€996,220
up €996,220 (+11.1%), from €8.9m to €9.9m
of which Trade receivables: +€1.2m
Equity and liabilities
- Trade debts +€1.9m
up €1.9m (+40.4%), from €4.7m to €6.5m
- Profit (loss) carried forward +€1.1m
up €1.1m (+16.9%), from €6.8m to €7.9m
- Short-term financial debts +€999,883
up €999,883 (+2,741%), from €36,481 to €1.0m
- Tax, wage and social debts -€291,732
down €291,732 (-29.4%), from €992,583 to €700,851
of which Taxes: -€252,882
Income statement
- Turnover +€4.2m
up €4.2m (+12.3%), from €33.7m to €37.9m
- Goods and materials +€3.7m
up €3.7m (+16.1%), from €22.7m to €26.4m
of which Purchases: +€4.8m
- Staff costs +€650,265
up €650,265 (+18.9%), from €3.4m to €4.1m
- Financial charges +€625,663
up €625,663 (+167%), from €374,371 to €1.0m
of which Non-recurring financial charges: +€532,765
- Services and other goods +€384,676
up €384,676 (+7.1%), from €5.4m to €5.8m
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
€2.0m
Turnover
+€4.2m
Other operating income
+€223,691
Goods and materials
-€3.7m
Services and other goods
-€384,676
Staff costs
-€650,265
Depreciation
-€30,105
Write-downs
-€258,859
Other operating charges
+€77,227
Other operating items
-€36,688
Financial income
+€29,511
Financial charges
-€625,663
Taxes
+€287,049
Result 2025
€1.2m
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
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
+€775,894
Investment
-€177,012
Financing
+€1.0m
Cash 2024
€1.5m
From operations (derived)
+€775,894
Net result for the year
+€1.2m
Depreciation
+€248,400
Stocks and contracts
-€1.4m
Receivables within one year
-€996,220
Deferred charges and accrued income
+€16,394
Trade debts
+€1.9m
Tax, wage and social debts
-€291,732
Other debts
+€127,706
Accrued charges and deferred income
-€40,453
Investment (derived)
-€177,012
Investment in fixed assets (net)
-€177,012
Financing
+€1.0m
Debts after one year
+€51,960
Current portion of long-term debt
+€1,832
Short-term financial debts
+€999,883
Contributions, distributions and other
-€33,769
Cash 2025
€3.1m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €23,200,442 | €27,079,791 | +€3.9m | +16.7% |
| Fixed assets | 21/28 | €1,384,166 | €1,312,778 | -€71,388 | -5.2% |
| Intangible fixed assets | 21 | €118,560 | €125,119 | +€6,560 | +5.5% |
| Tangible fixed assets | 22/27 | €1,256,316 | €1,179,457 | -€76,859 | -6.1% |
| Land and buildings | 22 | €1,023,091 | €908,239 | -€114,852 | -11.2% |
| Plant, machinery and equipment | 23 | €12,707 | €10,568 | -€2,139 | -16.8% |
| Furniture and vehicles | 24 | €177,781 | €165,919 | -€11,862 | -6.7% |
| Leasing and similar rights | 25 | - | €53,440 | +€53,440 | |
| Other tangible fixed assets | 26 | €8,326 | €6,881 | -€1,446 | -17.4% |
| Assets under construction and advance payments | 27 | €34,410 | €34,410 | = | 0.0% |
| Financial fixed assets | 28 | €9,290 | €8,201 | -€1,089 | -11.7% |
| Affiliated companies | 280/1 | €2,102 | €2,102 | = | 0.0% |
| Participating interests | 280 | €2,102 | €2,102 | = | 0.0% |
| Other financial fixed assets | 284/8 | €7,188 | €6,099 | -€1,089 | -15.1% |
| Amounts receivable and cash guarantees | 285/8 | €7,188 | €6,099 | -€1,089 | -15.1% |
| Current assets | 29/58 | €21,816,276 | €25,767,013 | +€4.0m | +18.1% |
| Stocks and contracts in progress | 3 | €11,212,730 | €12,564,853 | +€1.4m | +12.1% |
| Stocks | 30/36 | €11,212,730 | €12,564,853 | +€1.4m | +12.1% |
| Raw materials and consumables | 30/31 | €5,618,553 | €7,475,107 | +€1.9m | +33.0% |
| Goods purchased for resale | 34 | €5,594,177 | €5,089,746 | -€504,432 | -9.0% |
| Amounts receivable within one year | 40/41 | €8,938,020 | €9,934,240 | +€996,220 | +11.1% |
| Trade receivables | 40 | €8,273,466 | €9,473,774 | +€1.2m | +14.5% |
| Other amounts receivable | 41 | €664,554 | €460,467 | -€204,088 | -30.7% |
| Cash at bank and in hand | 54/58 | €1,515,694 | €3,134,482 | +€1.6m | +107% |
| Deferred charges and accrued income | 490/1 | €149,832 | €133,438 | -€16,394 | -10.9% |
| Total equity and liabilities | 10/49 | €23,200,442 | €27,079,791 | +€3.9m | +16.7% |
| Equity | 10/15 | €14,220,713 | €15,365,764 | +€1.1m | +8.1% |
| Contributions | 10/11 | €5,500,000 | €5,500,000 | = | 0.0% |
| Capital | 10 | €5,500,000 | €5,500,000 | = | 0.0% |
| Issued capital | 100 | €5,500,000 | €5,500,000 | = | 0.0% |
| Reserves | 13 | €1,928,180 | €1,928,180 | = | 0.0% |
| Non-distributable reserves | 130/1 | €550,000 | €550,000 | = | 0.0% |
| Legal reserve | 130 | €550,000 | €550,000 | = | 0.0% |
| Distributable reserves | 133 | €1,378,180 | €1,378,180 | = | 0.0% |
| Profit (loss) carried forward | 14 | €6,792,533 | €7,937,584 | +€1.1m | +16.9% |
| Amounts payable | 17/49 | €8,979,730 | €11,714,027 | +€2.7m | +30.4% |
| Amounts payable after more than one year | 17 | - | €51,960 | +€51,960 | |
| Financial debts | 170/4 | - | €51,960 | +€51,960 | |
| Leasing and similar obligations | 172 | - | €51,960 | +€51,960 | |
| Amounts payable within one year | 42/48 | €8,919,913 | €11,642,704 | +€2.7m | +30.5% |
| Current portion of amounts payable after more than one year | 42 | - | €1,832 | +€1,832 | |
| Financial debts | 43 | €36,481 | €1,036,365 | +€999,883 | +2,741% |
| Credit institutions | 430/8 | €36,481 | €1,036,365 | +€999,883 | +2,741% |
| Trade debts | 44 | €4,664,473 | €6,549,574 | +€1.9m | +40.4% |
| Suppliers | 440/4 | €4,664,473 | €6,549,574 | +€1.9m | +40.4% |
| Taxes, remuneration and social security | 45 | €992,583 | €700,851 | -€291,732 | -29.4% |
| Taxes | 450/3 | €423,811 | €170,928 | -€252,882 | -59.7% |
| Remuneration and social security | 454/9 | €568,772 | €529,923 | -€38,849 | -6.8% |
| Other amounts payable | 47/48 | €3,226,376 | €3,354,082 | +€127,706 | +4.0% |
| Accrued charges and deferred income | 492/3 | €59,816 | €19,363 | -€40,453 | -67.6% |
| Operating income | 70/76A | €34,818,688 | €39,180,726 | +€4.4m | +12.5% |
| Turnover | 70 | €33,705,251 | €37,865,840 | +€4.2m | +12.3% |
| Other operating income | 74 | €1,087,449 | €1,311,141 | +€223,691 | +20.6% |
| Non-recurring operating income | 76A | €25,988 | €3,746 | -€22,242 | -85.6% |
| Operating charges | 60/66A | €31,781,488 | €36,705,486 | +€4.9m | +15.5% |
| Goods for resale, raw materials and consumables | 60 | €22,694,058 | €26,356,932 | +€3.7m | +16.1% |
| Purchases | 600/8 | €22,913,390 | €27,709,647 | +€4.8m | +20.9% |
| Change in stocks: decrease (increase) | 609 | -€219,332 | -€1,352,715 | -€1.1m | -517% |
| Services and other goods | 61 | €5,439,761 | €5,824,437 | +€384,676 | +7.1% |
| Remuneration, social security and pensions | 62 | €3,443,806 | €4,094,071 | +€650,265 | +18.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €218,295 | €248,400 | +€30,105 | +13.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€258,267 | €592 | +€258,859 | |
| Other operating charges | 640/8 | €239,618 | €162,391 | -€77,227 | -32.2% |
| Non-recurring operating charges | 66A | €4,218 | €18,664 | +€14,446 | +342% |
| Operating profit (loss) | 9901 | €3,037,200 | €2,475,240 | -€561,960 | -18.5% |
| Financial income | 75/76B | €97,058 | €126,569 | +€29,511 | +30.4% |
| Recurring financial income | 75 | €97,058 | €126,569 | +€29,511 | +30.4% |
| Income from financial fixed assets | 750 | €2,000 | €2,000 | = | 0.0% |
| Other financial income | 752/9 | €95,058 | €124,569 | +€29,511 | +31.0% |
| Financial charges | 65/66B | €374,371 | €1,000,034 | +€625,663 | +167% |
| Recurring financial charges | 65 | €374,371 | €467,270 | +€92,899 | +24.8% |
| Debt charges | 650 | €155,515 | €159,871 | +€4,355 | +2.8% |
| Other financial charges | 652/9 | €218,856 | €307,399 | +€88,543 | +40.5% |
| Non-recurring financial charges | 66B | - | €532,765 | +€532,765 | |
| Profit (loss) for the period before taxes | 9903 | €2,759,886 | €1,601,775 | -€1.2m | -42.0% |
| Income taxes | 67/77 | €710,003 | €422,954 | -€287,049 | -40.4% |
| Taxes | 670/3 | €800,000 | €422,954 | -€377,046 | -47.1% |
| Tax adjustments and reversals of tax provisions | 77 | €89,997 | - | -€89,997 | |
| Profit (loss) for the period | 9904 | €2,049,883 | €1,178,821 | -€871,063 | -42.5% |
| Profit (loss) for the period to be appropriated | 9905 | €2,049,883 | €1,178,821 | -€871,063 | -42.5% |
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 16 October 2026 via checked.be.