ALU-WALL: 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-WALL
Largest movements
- Cash +€31,407
up €31,407 (+87.0%), from €36,103 to €67,511
mainly Net result for the year (+€90,724) and Depreciation (+€6,883)
- Stocks and contracts +€13,218
up €13,218 (+132%), from €10,000 to €23,218
- Tangible fixed assets -€6,883
down €6,883 (-32.0%), from €21,520 to €14,638
of which Leasing and similar rights: -€3,456
- Reserves +€90,724
up €90,724 (+783%), from €11,594 to €102,318
- Trade debts -€27,791
down €27,791 (-41.9%), from €66,370 to €38,579
- Debts after one year -€24,592
down €24,592 (-100%), from €24,592 to €0
- Gross operating margin +€110,506
up €110,506 (+953%), from €11,599 to €122,104
- Taxes +€23,063
up €23,063 (+7,888%), from €292 to €23,356
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 | €112,391 | €148,344 | +€35,952 | +32.0% |
| Fixed assets | 21/28 | €21,520 | €14,638 | -€6,883 | -32.0% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €21,520 | €14,638 | -€6,883 | -32.0% |
| Plant, machinery and equipment | 23 | €5,462 | €3,108 | -€2,353 | -43.1% |
| Furniture and vehicles | 24 | €2,860 | €1,786 | -€1,074 | -37.5% |
| Leasing and similar rights | 25 | €13,199 | €9,743 | -€3,456 | -26.2% |
| Current assets | 29/58 | €90,871 | €133,706 | +€42,835 | +47.1% |
| Stocks and contracts in progress | 3 | €10,000 | €23,218 | +€13,218 | +132% |
| Stocks | 30/36 | €10,000 | €23,218 | +€13,218 | +132% |
| Amounts receivable within one year | 40/41 | €44,100 | €42,978 | -€1,123 | -2.5% |
| Trade receivables | 40 | €31,280 | €0 | -€31,280 | -100% |
| Other amounts receivable | 41 | €12,820 | €42,978 | +€30,157 | +235% |
| Cash at bank and in hand | 54/58 | €36,103 | €67,511 | +€31,407 | +87.0% |
| Deferred charges and accrued income | 490/1 | €667 | €0 | -€667 | -100% |
| Total equity and liabilities | 10/49 | €112,391 | €148,344 | +€35,952 | +32.0% |
| Equity | 10/15 | €14,094 | €104,818 | +€90,724 | +644% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €11,594 | €102,318 | +€90,724 | +783% |
| Distributable reserves | 133 | €11,594 | €102,318 | +€90,724 | +783% |
| Amounts payable | 17/49 | €98,298 | €43,526 | -€54,772 | -55.7% |
| Amounts payable after more than one year | 17 | €24,592 | €0 | -€24,592 | -100% |
| Financial debts | 170/4 | €24,592 | €0 | -€24,592 | -100% |
| Amounts payable within one year | 42/48 | €73,706 | €43,526 | -€30,180 | -40.9% |
| Current portion of amounts payable after more than one year | 42 | €5,834 | €4,592 | -€1,242 | -21.3% |
| Trade debts | 44 | €66,370 | €38,579 | -€27,791 | -41.9% |
| Suppliers | 440/4 | €66,370 | €38,579 | -€27,791 | -41.9% |
| Taxes, remuneration and social security | 45 | €1,502 | €356 | -€1,146 | -76.3% |
| Taxes | 450/3 | €1,502 | €356 | -€1,146 | -76.3% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,627 | €6,883 | -€744 | -9.8% |
| Other operating charges | 640/8 | €505 | €520 | +€14 | +2.8% |
| Gross operating margin | 9900 | €11,599 | €122,104 | +€110,506 | +953% |
| Operating profit (loss) | 9901 | €3,467 | €114,702 | +€111,235 | +3,208% |
| Financial charges | 65/66B | €831 | €622 | -€209 | -25.2% |
| Recurring financial charges | 65 | €831 | €622 | -€209 | -25.2% |
| Profit (loss) for the period before taxes | 9903 | €2,636 | €114,080 | +€111,444 | +4,229% |
| Income taxes | 67/77 | €292 | €23,356 | +€23,063 | +7,888% |
| Profit (loss) for the period | 9904 | €2,343 | €90,724 | +€88,381 | +3,772% |
| Profit (loss) for the period to be appropriated | 9905 | €2,343 | €90,724 | +€88,381 | +3,772% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.