ALU-WINDOW: 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-WINDOW
Largest movements
- Cash -€52,882
down €52,882 (-40.2%), from €131,448 to €78,566
mainly Other debts (-€39,122) and Receivables within one year (-€31,648)
- Receivables within one year +€31,648
up €31,648 (+86.5%), from €36,599 to €68,247
of which Trade receivables: +€31,198
- Stocks and contracts +€21,314
up €21,314 (+149.9%), from €14,223 to €35,537
- Deferred charges and accrued income +€4,736
up €4,736, from €0 to €4,736
- Other debts -€39,122
down €39,122 (-100.0%), from €39,122 to €0
- Trade debts +€25,254
up €25,254 (+254.9%), from €9,906 to €35,160
- Reserves +€13,145
up €13,145 (+28.0%), from €47,015 to €60,160
- Debts after one year -€5,279
down €5,279 (-41.1%), from €12,843 to €7,564
- Current portion of long-term debt +€4,042
up €4,042 (+61.2%), from €6,601 to €10,643
- Gross operating margin -€24,262
down €24,262 (-9.7%), from €251,370 to €227,109
- Financial charges -€11,218
down €11,218 (-62.9%), from €17,825 to €6,608
- Taxes -€3,530
down €3,530 (-44.0%), from €8,030 to €4,500
- Depreciation -€2,529
down €2,529 (-23.5%), from €10,783 to €8,254
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 | €217,908 | €222,420 | +€4,513 | +2.1% |
| Fixed assets | 21/28 | €35,638 | €35,335 | -€303 | -0.9% |
| Tangible fixed assets | 22/27 | €35,638 | €35,335 | -€303 | -0.9% |
| Plant, machinery and equipment | 23 | €8,166 | €9,852 | +€1,686 | +20.6% |
| Furniture and vehicles | 24 | €244 | €12 | -€232 | -95.1% |
| Other tangible fixed assets | 26 | €27,228 | €25,470 | -€1,757 | -6.5% |
| Current assets | 29/58 | €182,270 | €187,086 | +€4,816 | +2.6% |
| Stocks and contracts in progress | 3 | €14,223 | €35,537 | +€21,314 | +149.9% |
| Stocks | 30/36 | €14,223 | €35,537 | +€21,314 | +149.9% |
| Amounts receivable within one year | 40/41 | €36,599 | €68,247 | +€31,648 | +86.5% |
| Trade receivables | 40 | €32,629 | €63,826 | +€31,198 | +95.6% |
| Other amounts receivable | 41 | €3,970 | €4,421 | +€450 | +11.3% |
| Cash at bank and in hand | 54/58 | €131,448 | €78,566 | -€52,882 | -40.2% |
| Deferred charges and accrued income | 490/1 | €0 | €4,736 | +€4,736 | |
| Total equity and liabilities | 10/49 | €217,908 | €222,420 | +€4,513 | +2.1% |
| Equity | 10/15 | €97,015 | €110,160 | +€13,145 | +13.5% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €47,015 | €60,160 | +€13,145 | +28.0% |
| Distributable reserves | 133 | €47,015 | €60,160 | +€13,145 | +28.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €120,893 | €112,260 | -€8,633 | -7.1% |
| Amounts payable after more than one year | 17 | €12,843 | €7,564 | -€5,279 | -41.1% |
| Financial debts | 170/4 | €12,843 | €7,564 | -€5,279 | -41.1% |
| Amounts payable within one year | 42/48 | €108,050 | €104,696 | -€3,354 | -3.1% |
| Current portion of amounts payable after more than one year | 42 | €6,601 | €10,643 | +€4,042 | +61.2% |
| Financial debts | 43 | €1,690 | €5,682 | +€3,992 | +236.2% |
| Credit institutions | 430/8 | €1,690 | €5,682 | +€3,992 | +236.2% |
| Trade debts | 44 | €9,906 | €35,160 | +€25,254 | +254.9% |
| Suppliers | 440/4 | €9,906 | €35,160 | +€25,254 | +254.9% |
| Taxes, remuneration and social security | 45 | €50,731 | €53,211 | +€2,479 | +4.9% |
| Taxes | 450/3 | €24,191 | €27,750 | +€3,559 | +14.7% |
| Remuneration and social security | 454/9 | €26,540 | €25,461 | -€1,079 | -4.1% |
| Other amounts payable | 47/48 | €39,122 | €0 | -€39,122 | -100.0% |
| Remuneration, social security and pensions | 62 | €190,516 | €192,935 | +€2,418 | +1.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,783 | €8,254 | -€2,529 | -23.5% |
| Other operating charges | 640/8 | €1,670 | €1,689 | +€19 | +1.1% |
| Gross operating margin | 9900 | €251,370 | €227,109 | -€24,262 | -9.7% |
| Operating profit (loss) | 9901 | €48,400 | €24,231 | -€24,169 | -49.9% |
| Financial income | 75/76B | €2 | €21 | +€19 | +806.4% |
| Recurring financial income | 75 | €2 | €21 | +€19 | +806.4% |
| Financial charges | 65/66B | €17,825 | €6,608 | -€11,218 | -62.9% |
| Recurring financial charges | 65 | €17,825 | €6,608 | -€11,218 | -62.9% |
| Profit (loss) for the period before taxes | 9903 | €30,577 | €17,645 | -€12,932 | -42.3% |
| Income taxes | 67/77 | €8,030 | €4,500 | -€3,530 | -44.0% |
| Profit (loss) for the period | 9904 | €22,547 | €13,145 | -€9,402 | -41.7% |
| Profit (loss) for the period to be appropriated | 9905 | €22,547 | €13,145 | -€9,402 | -41.7% |
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 5 October 2026 via checked.be.