Alsim: 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.
Alsim
Largest movements
- Tangible fixed assets -€45,609
down €45,609 (-4.2%), from €1.1m to €1.0m
of which Land and buildings: -€37,215
- Reserves -€26,019
down €26,019 (-8.9%), from €291,388 to €265,368
of which Tax-exempt reserves: -€26,019
- Debts after one year -€23,789
down €23,789 (-13.0%), from €182,692 to €158,904
of which Financial debts: -€23,789
- Provisions -€13,398
down €13,398 (-9.0%), from €148,563 to €135,164
- Gross operating margin -€21,643
down €21,643 (-42.0%), from €51,568 to €29,925
- Depreciation -€10,857
down €10,857 (-19.2%), from €56,467 to €45,609
- Other operating charges -€6,805
down €6,805 (-39.7%), from €17,153 to €10,347
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 | €1,160,847 | €1,105,025 | -€55,822 | -4.8% |
| Fixed assets | 21/28 | €1,084,599 | €1,038,990 | -€45,609 | -4.2% |
| Tangible fixed assets | 22/27 | €1,084,599 | €1,038,990 | -€45,609 | -4.2% |
| Land and buildings | 22 | €1,076,204 | €1,038,990 | -€37,215 | -3.5% |
| Furniture and vehicles | 24 | €3,833 | €0 | -€3,833 | -100.0% |
| Other tangible fixed assets | 26 | €4,562 | €0 | -€4,562 | -100.0% |
| Current assets | 29/58 | €76,248 | €66,035 | -€10,213 | -13.4% |
| Cash at bank and in hand | 54/58 | €76,248 | €66,035 | -€10,213 | -13.4% |
| Total equity and liabilities | 10/49 | €1,160,847 | €1,105,025 | -€55,822 | -4.8% |
| Equity | 10/15 | €345,315 | €330,340 | -€14,975 | -4.3% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €291,388 | €265,368 | -€26,019 | -8.9% |
| Non-distributable reserves | 130/1 | €2,865 | €2,865 | = | 0.0% |
| Legal reserve | 130 | €700 | €700 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,165 | €2,165 | = | 0.0% |
| Tax-exempt reserves | 132 | €288,522 | €262,503 | -€26,019 | -9.0% |
| Profit (loss) carried forward | 14 | -€8,072 | €2,972 | +€11,044 | |
| Provisions and deferred taxes | 16 | €148,563 | €135,164 | -€13,398 | -9.0% |
| Deferred taxes | 168 | €148,563 | €135,164 | -€13,398 | -9.0% |
| Amounts payable | 17/49 | €666,969 | €639,520 | -€27,449 | -4.1% |
| Amounts payable after more than one year | 17 | €182,692 | €158,904 | -€23,789 | -13.0% |
| Financial debts | 170/4 | €175,946 | €152,157 | -€23,789 | -13.5% |
| Other amounts payable | 178/9 | €6,746 | €6,746 | = | 0.0% |
| Amounts payable within one year | 42/48 | €484,277 | €480,616 | -€3,660 | -0.8% |
| Current portion of amounts payable after more than one year | 42 | €26,622 | €23,789 | -€2,834 | -10.6% |
| Trade debts | 44 | €2,329 | €2,148 | -€182 | -7.8% |
| Suppliers | 440/4 | €2,329 | €2,148 | -€182 | -7.8% |
| Taxes, remuneration and social security | 45 | €144 | €149 | +€5 | +3.5% |
| Taxes | 450/3 | €144 | €149 | +€5 | +3.5% |
| Other amounts payable | 47/48 | €455,181 | €454,531 | -€650 | -0.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €56,467 | €45,609 | -€10,857 | -19.2% |
| Other operating charges | 640/8 | €17,153 | €10,347 | -€6,805 | -39.7% |
| Gross operating margin | 9900 | €51,568 | €29,925 | -€21,643 | -42.0% |
| Operating profit (loss) | 9901 | -€22,051 | -€26,032 | -€3,980 | -18.0% |
| Financial income | 75/76B | - | €298 | +€298 | |
| Recurring financial income | 75 | - | €298 | +€298 | |
| Financial charges | 65/66B | €2,536 | €2,564 | +€29 | +1.1% |
| Recurring financial charges | 65 | €2,536 | €2,564 | +€29 | +1.1% |
| Profit (loss) for the period before taxes | 9903 | -€24,587 | -€28,298 | -€3,711 | -15.1% |
| Transfer from deferred taxes | 780 | - | €6,699 | +€6,699 | |
| Income taxes | 67/77 | €74 | €75 | +€1 | +1.0% |
| Profit (loss) for the period | 9904 | -€24,661 | -€21,674 | +€2,987 | +12.1% |
| Transfer from tax-exempt reserves | 789 | - | €13,010 | +€13,010 | |
| Profit (loss) for the period to be appropriated | 9905 | -€24,661 | -€8,664 | +€15,997 | +64.9% |
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 4 October 2026 via checked.be.