ALU-REAL: 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.
ALU-REAL
Largest movements
- Cash -€35,005
down €35,005 (-41.1%), from €85,143 to €50,139
mainly Net result for the year (-€35,720) and Trade debts (-€1,150)
- Financial fixed assets -€969
down €969 (-100%), from €969 to €0
- Profit (loss) carried forward -€35,720
down €35,720 (-10.8%), from -€330,405 to -€366,125
- Other debts +€1,542
up €1,542 (+1.2%), from €126,550 to €128,092
- Trade debts -€1,150
down €1,150 (-100%), from €1,150 to €0
- Other operating charges +€23,541
up €23,541 (+4,192%), from €562 to €24,102
- Financial charges -€18,671
down €18,671 (-74.7%), from €24,985 to €6,314
of which Non-recurring financial charges: -€22,500
- Gross operating margin +€8,300
up €8,300 (+61.0%), from -€13,603 to -€5,303
From the 2025 result to the 2026 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.
Derived cash bridge
Derived from the 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €86,113 | €50,139 | -€35,974 | -41.8% |
| Fixed assets | 21/28 | €969 | €0 | -€969 | -100% |
| Financial fixed assets | 28 | €969 | €0 | -€969 | -100% |
| Current assets | 29/58 | €85,143 | €50,139 | -€35,005 | -41.1% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Stocks | 30/36 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €0 | - | = | |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €85,143 | €50,139 | -€35,005 | -41.1% |
| Total equity and liabilities | 10/49 | €86,113 | €50,139 | -€35,974 | -41.8% |
| Equity | 10/15 | -€42,234 | -€77,954 | -€35,720 | -84.6% |
| Contributions | 10/11 | €261,973 | €261,973 | = | 0.0% |
| Capital | 10 | €261,973 | €261,973 | = | 0.0% |
| Issued capital | 100 | €261,973 | €261,973 | = | 0.0% |
| Reserves | 13 | €26,197 | €26,197 | = | 0.0% |
| Non-distributable reserves | 130/1 | €26,197 | €26,197 | = | 0.0% |
| Legal reserve | 130 | €26,197 | €26,197 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€330,405 | -€366,125 | -€35,720 | -10.8% |
| Amounts payable | 17/49 | €128,347 | €128,092 | -€255 | -0.2% |
| Amounts payable within one year | 42/48 | €128,347 | €128,092 | -€255 | -0.2% |
| Trade debts | 44 | €1,150 | €0 | -€1,150 | -100% |
| Suppliers | 440/4 | €1,150 | €0 | -€1,150 | -100% |
| Taxes, remuneration and social security | 45 | €647 | €0 | -€647 | -100% |
| Taxes | 450/3 | €647 | €0 | -€647 | -100% |
| Other amounts payable | 47/48 | €126,550 | €128,092 | +€1,542 | +1.2% |
| Other operating charges | 640/8 | €562 | €24,102 | +€23,541 | +4,192% |
| Gross operating margin | 9900 | -€13,603 | -€5,303 | +€8,300 | +61.0% |
| Operating profit (loss) | 9901 | -€14,165 | -€29,406 | -€15,241 | -108% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €24,985 | €6,314 | -€18,671 | -74.7% |
| Recurring financial charges | 65 | €2,485 | €6,314 | +€3,829 | +154% |
| Non-recurring financial charges | 66B | €22,500 | €0 | -€22,500 | -100% |
| Profit (loss) for the period before taxes | 9903 | -€39,150 | -€35,720 | +€3,430 | +8.8% |
| Profit (loss) for the period | 9904 | -€39,150 | -€35,720 | +€3,430 | +8.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€39,150 | -€35,720 | +€3,430 | +8.8% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.