ALSTANOX: 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.
ALSTANOX
Largest movements
- Receivables within one year -€128,298
down €128,298 (-63.3%), from €202,538 to €74,240
of which Trade receivables: -€90,482
- Cash +€83,928
up €83,928 (+466.4%), from €17,993 to €101,921
mainly Receivables within one year (+€128,298) and Short-term financial debts (+€100,000)
- Stocks and contracts -€19,484
down €19,484 (-14.6%), from €133,639 to €114,155
of which Contracts in progress: -€18,850
- Short-term financial debts +€100,000
new in 2025: €100,000
- Profit (loss) carried forward -€98,584
down €98,584, from €28,001 to -€70,583
- Trade debts -€41,238
down €41,238 (-32.8%), from €125,597 to €84,359
- Debts after one year -€14,122
down €14,122 (-12.5%), from €112,732 to €98,610
- Tax, wage and social debts -€9,564
down €9,564 (-17.2%), from €55,535 to €45,971
of which Remuneration and social security: -€9,793
- Gross operating margin -€108,853
down €108,853 (-33.2%), from €328,349 to €219,496
- Staff costs -€60,930
down €60,930 (-20.6%), from €296,240 to €235,310
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 | €696,164 | €633,545 | -€62,619 | -9.0% |
| Fixed assets | 21/28 | €331,507 | €333,429 | +€1,922 | +0.6% |
| Tangible fixed assets | 22/27 | €331,507 | €333,429 | +€1,922 | +0.6% |
| Land and buildings | 22 | €214,730 | €214,730 | = | 0.0% |
| Plant, machinery and equipment | 23 | €56,502 | €36,111 | -€20,391 | -36.1% |
| Furniture and vehicles | 24 | €6,826 | €6,391 | -€435 | -6.4% |
| Leasing and similar rights | 25 | €47,971 | €71,749 | +€23,778 | +49.6% |
| Other tangible fixed assets | 26 | €5,478 | €4,448 | -€1,030 | -18.8% |
| Current assets | 29/58 | €364,657 | €300,116 | -€64,541 | -17.7% |
| Stocks and contracts in progress | 3 | €133,639 | €114,155 | -€19,484 | -14.6% |
| Stocks | 30/36 | €84,789 | €84,155 | -€634 | -0.7% |
| Contracts in progress | 37 | €48,850 | €30,000 | -€18,850 | -38.6% |
| Amounts receivable within one year | 40/41 | €202,538 | €74,240 | -€128,298 | -63.3% |
| Trade receivables | 40 | €152,642 | €62,160 | -€90,482 | -59.3% |
| Other amounts receivable | 41 | €49,896 | €12,080 | -€37,816 | -75.8% |
| Cash at bank and in hand | 54/58 | €17,993 | €101,921 | +€83,928 | +466.4% |
| Deferred charges and accrued income | 490/1 | €10,487 | €9,800 | -€687 | -6.6% |
| Total equity and liabilities | 10/49 | €696,164 | €633,545 | -€62,619 | -9.0% |
| Equity | 10/15 | €194,013 | €95,429 | -€98,584 | -50.8% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €147,420 | €147,420 | = | 0.0% |
| Tax-exempt reserves | 132 | €5,205 | €5,205 | = | 0.0% |
| Distributable reserves | 133 | €142,215 | €142,215 | = | 0.0% |
| Profit (loss) carried forward | 14 | €28,001 | -€70,583 | -€98,584 | |
| Amounts payable | 17/49 | €502,151 | €538,116 | +€35,965 | +7.2% |
| Amounts payable after more than one year | 17 | €112,732 | €98,610 | -€14,122 | -12.5% |
| Financial debts | 170/4 | €112,732 | €98,610 | -€14,122 | -12.5% |
| Amounts payable within one year | 42/48 | €375,220 | €422,045 | +€46,825 | +12.5% |
| Current portion of amounts payable after more than one year | 42 | €70,077 | €63,751 | -€6,326 | -9.0% |
| Financial debts | 43 | - | €100,000 | +€100,000 | |
| Credit institutions | 430/8 | - | €100,000 | +€100,000 | |
| Trade debts | 44 | €125,597 | €84,359 | -€41,238 | -32.8% |
| Suppliers | 440/4 | €125,597 | €84,359 | -€41,238 | -32.8% |
| Taxes, remuneration and social security | 45 | €55,535 | €45,971 | -€9,564 | -17.2% |
| Taxes | 450/3 | €5,790 | €6,019 | +€229 | +4.0% |
| Remuneration and social security | 454/9 | €49,745 | €39,952 | -€9,793 | -19.7% |
| Other amounts payable | 47/48 | €124,011 | €127,964 | +€3,953 | +3.2% |
| Accrued charges and deferred income | 492/3 | €14,199 | €17,461 | +€3,262 | +23.0% |
| Remuneration, social security and pensions | 62 | €296,240 | €235,310 | -€60,930 | -20.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,671 | €46,272 | +€1,601 | +3.6% |
| Other operating charges | 640/8 | €14,076 | €17,303 | +€3,227 | +22.9% |
| Gross operating margin | 9900 | €328,349 | €219,496 | -€108,853 | -33.2% |
| Operating profit (loss) | 9901 | -€26,638 | -€79,389 | -€52,751 | -198.0% |
| Financial income | 75/76B | €324 | €1,145 | +€821 | +253.4% |
| Recurring financial income | 75 | €324 | €1,145 | +€821 | +253.4% |
| Financial charges | 65/66B | €18,803 | €19,579 | +€776 | +4.1% |
| Recurring financial charges | 65 | €18,803 | €19,579 | +€776 | +4.1% |
| Profit (loss) for the period before taxes | 9903 | -€45,117 | -€97,823 | -€52,706 | -116.8% |
| Income taxes | 67/77 | €857 | €761 | -€96 | -11.2% |
| Profit (loss) for the period | 9904 | -€45,974 | -€98,584 | -€52,610 | -114.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€45,974 | -€98,584 | -€52,610 | -114.4% |
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 2 October 2026 via checked.be.