ALU REX: 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 REX
Largest movements
- Receivables within one year +€57,911
up €57,911 (+87.7%), from €66,042 to €123,953
of which Trade receivables: +€58,157
- Tangible fixed assets +€44,327
up €44,327 (+153%), from €29,037 to €73,364
- Cash -€11,714
down €11,714 (-13.5%), from €86,800 to €75,085
mainly Investment in fixed assets (net) (-€65,758) and Receivables within one year (-€57,911)
- Profit (loss) carried forward +€97,662
up €97,662 (+135%), from €72,252 to €169,914
- Debts after one year -€19,342
down €19,342 (-27.6%), from €70,065 to €50,723
- Trade debts +€15,129
up €15,129 (+168%), from €9,024 to €24,153
- Tax, wage and social debts -€6,232
down €6,232 (-61.1%), from €10,202 to €3,970
of which Remuneration and social security: -€5,365
- Gross operating margin +€79,708
up €79,708 (+115%), from €69,532 to €149,240
- Taxes +€14,133
up €14,133 (+119%), from €11,837 to €25,970
- Depreciation +€12,317
up €12,317 (+135%), from €9,114 to €21,432
- Financial charges +€1,873
up €1,873 (+97.7%), from €1,916 to €3,789
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.
Derived cash bridge
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 | €185,170 | €273,102 | +€87,932 | +47.5% |
| Fixed assets | 21/28 | €29,737 | €74,064 | +€44,327 | +149% |
| Tangible fixed assets | 22/27 | €29,037 | €73,364 | +€44,327 | +153% |
| Furniture and vehicles | 24 | €29,037 | €73,364 | +€44,327 | +153% |
| Financial fixed assets | 28 | €700 | €700 | = | 0.0% |
| Current assets | 29/58 | €155,432 | €199,038 | +€43,606 | +28.1% |
| Amounts receivable within one year | 40/41 | €66,042 | €123,953 | +€57,911 | +87.7% |
| Trade receivables | 40 | €59,454 | €117,611 | +€58,157 | +97.8% |
| Other amounts receivable | 41 | €6,588 | €6,342 | -€246 | -3.7% |
| Cash at bank and in hand | 54/58 | €86,800 | €75,085 | -€11,714 | -13.5% |
| Deferred charges and accrued income | 490/1 | €2,591 | - | -€2,591 | |
| Total equity and liabilities | 10/49 | €185,170 | €273,102 | +€87,932 | +47.5% |
| Equity | 10/15 | €77,252 | €174,914 | +€97,662 | +126% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €72,252 | €169,914 | +€97,662 | +135% |
| Amounts payable | 17/49 | €107,918 | €98,188 | -€9,730 | -9.0% |
| Amounts payable after more than one year | 17 | €70,065 | €50,723 | -€19,342 | -27.6% |
| Financial debts | 170/4 | €70,065 | €50,723 | -€19,342 | -27.6% |
| Amounts payable within one year | 42/48 | €37,853 | €47,465 | +€9,612 | +25.4% |
| Current portion of amounts payable after more than one year | 42 | €18,627 | €19,342 | +€715 | +3.8% |
| Trade debts | 44 | €9,024 | €24,153 | +€15,129 | +168% |
| Suppliers | 440/4 | €9,024 | €24,153 | +€15,129 | +168% |
| Taxes, remuneration and social security | 45 | €10,202 | €3,970 | -€6,232 | -61.1% |
| Taxes | 450/3 | €1,837 | €970 | -€867 | -47.2% |
| Remuneration and social security | 454/9 | €8,365 | €3,000 | -€5,365 | -64.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,114 | €21,432 | +€12,317 | +135% |
| Other operating charges | 640/8 | €400 | €387 | -€13 | -3.2% |
| Gross operating margin | 9900 | €69,532 | €149,240 | +€79,708 | +115% |
| Operating profit (loss) | 9901 | €60,017 | €127,421 | +€67,404 | +112% |
| Financial income | 75/76B | €1 | €0 | -€0 | -85.5% |
| Recurring financial income | 75 | €1 | €0 | -€0 | -85.5% |
| Financial charges | 65/66B | €1,916 | €3,789 | +€1,873 | +97.7% |
| Recurring financial charges | 65 | €1,916 | €3,789 | +€1,873 | +97.7% |
| Profit (loss) for the period before taxes | 9903 | €58,102 | €123,632 | +€65,530 | +113% |
| Income taxes | 67/77 | €11,837 | €25,970 | +€14,133 | +119% |
| Profit (loss) for the period | 9904 | €46,265 | €97,662 | +€51,398 | +111% |
| Profit (loss) for the period to be appropriated | 9905 | €46,265 | €97,662 | +€51,398 | +111% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.