ALU-PROJECTS: 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.
ALU-PROJECTS
Largest movements
- Receivables within one year +€8,991
up €8,991 (+6.3%), from €142,801 to €151,792
of which Other amounts receivable: +€12,079
- Cash -€4,694
down €4,694 (-92.1%), from €5,100 to €405
mainly Receivables within one year (-€8,991) and Trade debts (-€1,521)
- Profit (loss) carried forward +€4,099
up €4,099 (+30.3%), from €13,525 to €17,624
- Gross operating margin +€13,337
up €13,337, from -€1,361 to €11,976
- Staff costs -€2,755
no longer reported in 2025 (was €2,755)
- Financial charges +€452
up €452 (+7.7%), from €5,854 to €6,306
- Depreciation -€208
down €208 (-13.9%), from €1,496 to €1,288
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 | €150,291 | €152,869 | +€2,578 | +1.7% |
| Fixed assets | 21/28 | €1,961 | €672 | -€1,288 | -65.7% |
| Tangible fixed assets | 22/27 | €1,961 | €672 | -€1,288 | -65.7% |
| Plant, machinery and equipment | 23 | €1,425 | €672 | -€753 | -52.8% |
| Furniture and vehicles | 24 | €536 | - | -€536 | |
| Current assets | 29/58 | €148,331 | €152,197 | +€3,867 | +2.6% |
| Amounts receivable within one year | 40/41 | €142,801 | €151,792 | +€8,991 | +6.3% |
| Trade receivables | 40 | €49,157 | €46,070 | -€3,088 | -6.3% |
| Other amounts receivable | 41 | €93,643 | €105,722 | +€12,079 | +12.9% |
| Cash at bank and in hand | 54/58 | €5,100 | €405 | -€4,694 | -92.1% |
| Deferred charges and accrued income | 490/1 | €430 | - | -€430 | |
| Total equity and liabilities | 10/49 | €150,291 | €152,869 | +€2,578 | +1.7% |
| Equity | 10/15 | €23,525 | €27,624 | +€4,099 | +17.4% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €13,525 | €17,624 | +€4,099 | +30.3% |
| Amounts payable | 17/49 | €126,766 | €125,245 | -€1,521 | -1.2% |
| Amounts payable within one year | 42/48 | €126,766 | €125,245 | -€1,521 | -1.2% |
| Financial debts | 43 | €125,000 | €125,000 | = | 0.0% |
| Credit institutions | 430/8 | €125,000 | €125,000 | = | 0.0% |
| Trade debts | 44 | €1,766 | €245 | -€1,521 | -86.1% |
| Suppliers | 440/4 | €1,766 | €245 | -€1,521 | -86.1% |
| Remuneration, social security and pensions | 62 | €2,755 | - | -€2,755 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,496 | €1,288 | -€208 | -13.9% |
| Other operating charges | 640/8 | €275 | €282 | +€7 | +2.7% |
| Gross operating margin | 9900 | -€1,361 | €11,976 | +€13,337 | |
| Operating profit (loss) | 9901 | -€5,887 | €10,405 | +€16,292 | |
| Financial charges | 65/66B | €5,854 | €6,306 | +€452 | +7.7% |
| Recurring financial charges | 65 | €5,854 | €6,306 | +€452 | +7.7% |
| Profit (loss) for the period before taxes | 9903 | -€11,741 | €4,099 | +€15,840 | |
| Profit (loss) for the period | 9904 | -€11,741 | €4,099 | +€15,840 | |
| Profit (loss) for the period to be appropriated | 9905 | -€11,741 | €4,099 | +€15,840 |
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.