ALU-Q: what changed
ALU-Q
Largest movements
- Receivables within one year +€44,013
up €44,013 (+238%), from €18,503 to €62,516
of which Trade receivables: +€42,992
- Cash +€30,809
up €30,809 (+53.2%), from €57,910 to €88,719
mainly Net result for the year (+€53,969) and Depreciation (+€19,119)
- Tangible fixed assets -€17,336
down €17,336 (-33.7%), from €51,484 to €34,148
of which Plant, machinery and equipment: -€8,712
- Reserves +€53,969
up €53,969 (+146%), from €36,885 to €90,854
- Debts after one year -€14,139
down €14,139 (-78.3%), from €18,056 to €3,917
- Trade debts +€11,992
up €11,992 (+90.5%), from €13,253 to €25,245
- Tax, wage and social debts +€8,475
up €8,475 (+57.9%), from €14,626 to €23,102
of which Taxes: +€8,225
- Gross operating margin +€50,981
up €50,981 (+47.6%), from €107,073 to €158,055
- Taxes +€13,777
up €13,777 (+186%), from €7,406 to €21,183
- Staff costs +€4,193
up €4,193 (+7.0%), from €59,745 to €63,938
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €177,453 | €237,121 | +€59,668 | +33.6% |
| Fixed assets | 21/28 | €51,484 | €34,148 | -€17,336 | -33.7% |
| Tangible fixed assets | 22/27 | €51,484 | €34,148 | -€17,336 | -33.7% |
| Plant, machinery and equipment | 23 | €21,284 | €12,572 | -€8,712 | -40.9% |
| Furniture and vehicles | 24 | €30,200 | €21,576 | -€8,624 | -28.6% |
| Current assets | 29/58 | €125,969 | €202,973 | +€77,004 | +61.1% |
| Stocks and contracts in progress | 3 | €47,818 | €49,780 | +€1,962 | +4.1% |
| Stocks | 30/36 | €47,818 | €49,780 | +€1,962 | +4.1% |
| Amounts receivable within one year | 40/41 | €18,503 | €62,516 | +€44,013 | +238% |
| Trade receivables | 40 | €11,171 | €54,162 | +€42,992 | +385% |
| Other amounts receivable | 41 | €7,332 | €8,353 | +€1,021 | +13.9% |
| Cash at bank and in hand | 54/58 | €57,910 | €88,719 | +€30,809 | +53.2% |
| Deferred charges and accrued income | 490/1 | €1,738 | €1,959 | +€221 | +12.7% |
| Total equity and liabilities | 10/49 | €177,453 | €237,121 | +€59,668 | +33.6% |
| Equity | 10/15 | €114,970 | €168,938 | +€53,969 | +46.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €36,885 | €90,854 | +€53,969 | +146% |
| Distributable reserves | 133 | €36,885 | €90,854 | +€53,969 | +146% |
| Profit (loss) carried forward | 14 | €59,485 | €59,485 | = | 0.0% |
| Amounts payable | 17/49 | €62,484 | €68,183 | +€5,699 | +9.1% |
| Amounts payable after more than one year | 17 | €18,056 | €3,917 | -€14,139 | -78.3% |
| Financial debts | 170/4 | €18,056 | €3,917 | -€14,139 | -78.3% |
| Amounts payable within one year | 42/48 | €44,428 | €64,266 | +€19,838 | +44.7% |
| Current portion of amounts payable after more than one year | 42 | €16,548 | €15,919 | -€629 | -3.8% |
| Trade debts | 44 | €13,253 | €25,245 | +€11,992 | +90.5% |
| Suppliers | 440/4 | €13,253 | €25,245 | +€11,992 | +90.5% |
| Taxes, remuneration and social security | 45 | €14,626 | €23,102 | +€8,475 | +57.9% |
| Taxes | 450/3 | €8,417 | €16,642 | +€8,225 | +97.7% |
| Remuneration and social security | 454/9 | €6,210 | €6,459 | +€250 | +4.0% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €0 | €1,810 | +€1,810 | |
| Remuneration, social security and pensions | 62 | €59,745 | €63,938 | +€4,193 | +7.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,682 | €19,119 | +€437 | +2.3% |
| Other operating charges | 640/8 | €1,635 | €1,122 | -€513 | -31.4% |
| Gross operating margin | 9900 | €107,073 | €158,055 | +€50,981 | +47.6% |
| Operating profit (loss) | 9901 | €27,011 | €73,875 | +€46,864 | +173% |
| Financial income | 75/76B | €2,811 | €3,275 | +€464 | +16.5% |
| Recurring financial income | 75 | €2,811 | €3,275 | +€464 | +16.5% |
| Financial charges | 65/66B | €1,423 | €1,998 | +€576 | +40.5% |
| Recurring financial charges | 65 | €1,423 | €1,998 | +€576 | +40.5% |
| Profit (loss) for the period before taxes | 9903 | €28,399 | €75,151 | +€46,752 | +165% |
| Income taxes | 67/77 | €7,406 | €21,183 | +€13,777 | +186% |
| Profit (loss) for the period | 9904 | €20,993 | €53,969 | +€32,975 | +157% |
| Profit (loss) for the period to be appropriated | 9905 | €20,993 | €53,969 | +€32,975 | +157% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.