ALUMA MEEUSSEN: 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.
ALUMA MEEUSSEN
Largest movements
- Tangible fixed assets -€117,472
down €117,472 (-9.5%), from €1.2m to €1.1m
of which Land and buildings: -€114,972
- Cash -€30,219
down €30,219 (-51.9%), from €58,271 to €28,052
mainly Debts after one year (-€247,470) and Current portion of long-term debt (-€13,376)
- Debts after one year -€247,470
down €247,470 (-46.5%), from €532,235 to €284,764
- Reserves +€60,000
up €60,000 (+11.1%), from €542,240 to €602,240
- Short-term financial debts +€31,631
up €31,631 (+26.7%), from €118,605 to €150,236
- Other debts +€13,424
up €13,424 (+29.0%), from €46,295 to €59,719
- Current portion of long-term debt -€13,376
no longer reported in 2025 (was €13,376)
- Gross operating margin -€15,233
down €15,233 (-6.4%), from €238,972 to €223,740
- Financial charges -€6,126
down €6,126 (-35.2%), from €17,419 to €11,293
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 | €1,301,743 | €1,150,932 | -€150,811 | -11.6% |
| Fixed assets | 21/28 | €1,239,563 | €1,122,100 | -€117,463 | -9.5% |
| Tangible fixed assets | 22/27 | €1,237,054 | €1,119,583 | -€117,472 | -9.5% |
| Land and buildings | 22 | €1,227,054 | €1,112,083 | -€114,972 | -9.4% |
| Furniture and vehicles | 24 | €10,000 | €7,500 | -€2,500 | -25.0% |
| Financial fixed assets | 28 | €2,508 | €2,517 | +€9 | +0.4% |
| Current assets | 29/58 | €62,180 | €28,832 | -€33,348 | -53.6% |
| Amounts receivable within one year | 40/41 | €1,600 | €780 | -€819 | -51.2% |
| Trade receivables | 40 | €1,600 | €780 | -€819 | -51.2% |
| Cash at bank and in hand | 54/58 | €58,271 | €28,052 | -€30,219 | -51.9% |
| Deferred charges and accrued income | 490/1 | €2,310 | - | -€2,310 | |
| Total equity and liabilities | 10/49 | €1,301,743 | €1,150,932 | -€150,811 | -11.6% |
| Equity | 10/15 | €581,191 | €645,134 | +€63,942 | +11.0% |
| Contributions | 10/11 | €37,184 | €37,184 | = | 0.0% |
| Reserves | 13 | €542,240 | €602,240 | +€60,000 | +11.1% |
| Distributable reserves | 133 | €542,240 | €602,240 | +€60,000 | +11.1% |
| Profit (loss) carried forward | 14 | €1,767 | €5,710 | +€3,942 | +223% |
| Amounts payable | 17/49 | €720,552 | €505,798 | -€214,753 | -29.8% |
| Amounts payable after more than one year | 17 | €532,235 | €284,764 | -€247,470 | -46.5% |
| Financial debts | 170/4 | €532,235 | €284,764 | -€247,470 | -46.5% |
| Amounts payable within one year | 42/48 | €188,317 | €221,034 | +€32,717 | +17.4% |
| Current portion of amounts payable after more than one year | 42 | €13,376 | - | -€13,376 | |
| Financial debts | 43 | €118,605 | €150,236 | +€31,631 | +26.7% |
| Other loans | 439 | €118,605 | €150,236 | +€31,631 | +26.7% |
| Trade debts | 44 | €3,738 | €3,742 | +€4 | +0.1% |
| Suppliers | 440/4 | €3,738 | €3,742 | +€4 | +0.1% |
| Taxes, remuneration and social security | 45 | €6,304 | €7,337 | +€1,034 | +16.4% |
| Taxes | 450/3 | €6,304 | €7,337 | +€1,034 | +16.4% |
| Other amounts payable | 47/48 | €46,295 | €59,719 | +€13,424 | +29.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €117,472 | €117,472 | = | 0.0% |
| Other operating charges | 640/8 | €10,197 | €10,515 | +€317 | +3.1% |
| Gross operating margin | 9900 | €238,972 | €223,740 | -€15,233 | -6.4% |
| Operating profit (loss) | 9901 | €111,303 | €95,754 | -€15,550 | -14.0% |
| Financial income | 75/76B | €22 | €796 | +€773 | +3,478% |
| Recurring financial income | 75 | €22 | €796 | +€773 | +3,478% |
| Financial charges | 65/66B | €17,419 | €11,293 | -€6,126 | -35.2% |
| Recurring financial charges | 65 | €17,419 | €11,293 | -€6,126 | -35.2% |
| Profit (loss) for the period before taxes | 9903 | €93,907 | €85,257 | -€8,650 | -9.2% |
| Income taxes | 67/77 | €23,482 | €21,314 | -€2,168 | -9.2% |
| Profit (loss) for the period | 9904 | €70,425 | €63,942 | -€6,483 | -9.2% |
| Profit (loss) for the period to be appropriated | 9905 | €70,425 | €63,942 | -€6,483 | -9.2% |
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 25 October 2026 via checked.be.