ALUGARDEN: 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.
ALUGARDEN
Largest movements
- Receivables within one year -€131,699
down €131,699 (-20.6%), from €640,293 to €508,594
- Cash -€63,874
down €63,874 (-95.7%), from €66,762 to €2,888
mainly Net result for the year (-€139,414) and Tax, wage and social debts (-€62,165)
- Profit (loss) carried forward -€139,414
down €139,414 (-33.6%), from €415,377 to €275,963
- Tax, wage and social debts -€62,165
down €62,165 (-43.7%), from €142,119 to €79,954
of which Taxes: -€60,494
- Trade debts +€11,291
up €11,291 (+24.9%), from €45,286 to €56,577
- Gross operating margin -€79,247
down €79,247 (-56.5%), from €140,350 to €61,103
- Other operating charges -€17,152
no longer reported in 2025 (was €17,152)
- Financial charges +€14,747
up €14,747 (+742.5%), from €1,986 to €16,733
- Staff costs -€12,839
down €12,839 (-8.0%), from €160,431 to €147,592
- Depreciation -€3,770
down €3,770 (-30.3%), from €12,458 to €8,688
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 | €731,861 | €539,975 | -€191,886 | -26.2% |
| Fixed assets | 21/28 | €8,145 | €7,792 | -€353 | -4.3% |
| Tangible fixed assets | 22/27 | €7,145 | €6,792 | -€353 | -4.9% |
| Plant, machinery and equipment | 23 | - | €3,708 | +€3,708 | |
| Furniture and vehicles | 24 | €6,149 | €2,892 | -€3,257 | -53.0% |
| Other tangible fixed assets | 26 | €996 | €192 | -€804 | -80.7% |
| Financial fixed assets | 28 | €1,000 | €1,000 | = | 0.0% |
| Current assets | 29/58 | €723,716 | €532,183 | -€191,533 | -26.5% |
| Stocks and contracts in progress | 3 | €16,661 | €20,701 | +€4,040 | +24.2% |
| Stocks | 30/36 | €16,661 | €20,701 | +€4,040 | +24.2% |
| Amounts receivable within one year | 40/41 | €640,293 | €508,594 | -€131,699 | -20.6% |
| Trade receivables | 40 | €640,293 | €508,594 | -€131,699 | -20.6% |
| Cash at bank and in hand | 54/58 | €66,762 | €2,888 | -€63,874 | -95.7% |
| Total equity and liabilities | 10/49 | €731,861 | €539,975 | -€191,886 | -26.2% |
| Equity | 10/15 | €491,277 | €351,863 | -€139,414 | -28.4% |
| Contributions | 10/11 | €69,000 | €69,000 | = | 0.0% |
| Reserves | 13 | €6,900 | €6,900 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,900 | €6,900 | = | 0.0% |
| Reserves not available under the articles | 1311 | €6,900 | €6,900 | = | 0.0% |
| Profit (loss) carried forward | 14 | €415,377 | €275,963 | -€139,414 | -33.6% |
| Amounts payable | 17/49 | €240,584 | €188,112 | -€52,472 | -21.8% |
| Amounts payable after more than one year | 17 | €36,000 | €36,000 | = | 0.0% |
| Financial debts | 170/4 | €36,000 | €36,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €204,584 | €152,112 | -€52,472 | -25.6% |
| Trade debts | 44 | €45,286 | €56,577 | +€11,291 | +24.9% |
| Suppliers | 440/4 | €45,286 | €56,577 | +€11,291 | +24.9% |
| Advances received on contracts in progress | 46 | €9,534 | €6,534 | -€3,000 | -31.5% |
| Taxes, remuneration and social security | 45 | €142,119 | €79,954 | -€62,165 | -43.7% |
| Taxes | 450/3 | €93,675 | €33,181 | -€60,494 | -64.6% |
| Remuneration and social security | 454/9 | €48,444 | €46,773 | -€1,671 | -3.4% |
| Other amounts payable | 47/48 | €7,645 | €9,047 | +€1,402 | +18.3% |
| Remuneration, social security and pensions | 62 | €160,431 | €147,592 | -€12,839 | -8.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,458 | €8,688 | -€3,770 | -30.3% |
| Other operating charges | 640/8 | €17,152 | - | -€17,152 | |
| Gross operating margin | 9900 | €140,350 | €61,103 | -€79,247 | -56.5% |
| Operating profit (loss) | 9901 | -€49,691 | -€95,177 | -€45,486 | -91.5% |
| Financial charges | 65/66B | €1,986 | €16,733 | +€14,747 | +742.5% |
| Recurring financial charges | 65 | €1,986 | €16,733 | +€14,747 | +742.5% |
| Profit (loss) for the period before taxes | 9903 | -€51,677 | -€111,910 | -€60,233 | -116.6% |
| Income taxes | 67/77 | €28,997 | €27,504 | -€1,493 | -5.1% |
| Profit (loss) for the period | 9904 | -€80,674 | -€139,414 | -€58,740 | -72.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€80,674 | -€139,414 | -€58,740 | -72.8% |
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 9 October 2026 via checked.be.