ALUPRO: 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.
ALUPRO
Largest movements
- Stocks and contracts +€551,810
up €551,810 (+176%), from €313,518 to €865,328
of which Contracts in progress: +€279,576
- Receivables within one year +€405,156
up €405,156 (+173%), from €234,795 to €639,951
of which Other amounts receivable: +€298,478
- Tangible fixed assets +€154,204
up €154,204 (+67.9%), from €227,106 to €381,310
of which Plant, machinery and equipment: +€218,873
- Cash +€114,667
up €114,667 (+1,316%), from €8,717 to €123,384
- Trade debts +€539,765
up €539,765 (+137%), from €393,094 to €932,859
- Profit (loss) carried forward +€320,443
up €320,443 (+78.1%), from -€410,136 to -€89,693
- Debts after one year +€236,768
up €236,768 (+927%), from €25,546 to €262,314
- Other debts +€88,296
up €88,296 (+45.3%), from €195,000 to €283,296
- Tax, wage and social debts +€24,292
up €24,292 (+36.1%), from €67,289 to €91,581
of which Remuneration and social security: +€18,272
- Gross operating margin +€709,775
up €709,775 (+107%), from €664,912 to €1.4m
- Staff costs +€268,823
up €268,823 (+44.1%), from €609,001 to €877,824
- Financial charges +€42,731
up €42,731 (+182%), from €23,516 to €66,247
- Depreciation +€34,182
up €34,182 (+46.9%), from €72,841 to €107,023
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
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €788,713 | €2,009,973 | +€1.2m | +155% |
| Fixed assets | 21/28 | €231,683 | €381,310 | +€149,627 | +64.6% |
| Tangible fixed assets | 22/27 | €227,106 | €381,310 | +€154,204 | +67.9% |
| Land and buildings | 22 | €874 | €317 | -€557 | -63.7% |
| Plant, machinery and equipment | 23 | €29,420 | €248,293 | +€218,873 | +744% |
| Furniture and vehicles | 24 | €98,090 | €44,533 | -€53,557 | -54.6% |
| Leasing and similar rights | 25 | €98,721 | €88,167 | -€10,554 | -10.7% |
| Financial fixed assets | 28 | €4,578 | - | -€4,578 | |
| Current assets | 29/58 | €557,029 | €1,628,663 | +€1.1m | +192% |
| Stocks and contracts in progress | 3 | €313,518 | €865,328 | +€551,810 | +176% |
| Stocks | 30/36 | €180,071 | €452,305 | +€272,235 | +151% |
| Contracts in progress | 37 | €133,447 | €413,023 | +€279,576 | +210% |
| Amounts receivable within one year | 40/41 | €234,795 | €639,951 | +€405,156 | +173% |
| Trade receivables | 40 | €205,325 | €312,003 | +€106,678 | +52.0% |
| Other amounts receivable | 41 | €29,470 | €327,948 | +€298,478 | +1,013% |
| Cash at bank and in hand | 54/58 | €8,717 | €123,384 | +€114,667 | +1,316% |
| Total equity and liabilities | 10/49 | €788,713 | €2,009,973 | +€1.2m | +155% |
| Equity | 10/15 | -€174,343 | €146,100 | +€320,443 | |
| Contributions | 10/11 | €150,000 | €150,000 | = | 0.0% |
| Reserves | 13 | €85,793 | €85,793 | +€0 | 0.0% |
| Non-distributable reserves | 130/1 | €15,000 | €15,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €15,000 | €15,000 | = | 0.0% |
| Distributable reserves | 133 | €70,793 | €70,793 | +€0 | 0.0% |
| Profit (loss) carried forward | 14 | -€410,136 | -€89,693 | +€320,443 | +78.1% |
| Amounts payable | 17/49 | €963,056 | €1,863,873 | +€900,817 | +93.5% |
| Amounts payable after more than one year | 17 | €25,546 | €262,314 | +€236,768 | +927% |
| Financial debts | 170/4 | €25,546 | €262,314 | +€236,768 | +927% |
| Amounts payable within one year | 42/48 | €937,510 | €1,601,559 | +€664,049 | +70.8% |
| Current portion of amounts payable after more than one year | 42 | €24,470 | €43,807 | +€19,337 | +79.0% |
| Financial debts | 43 | €257,658 | €250,016 | -€7,642 | -3.0% |
| Credit institutions | 430/8 | €257,658 | €250,016 | -€7,642 | -3.0% |
| Trade debts | 44 | €393,094 | €932,859 | +€539,765 | +137% |
| Suppliers | 440/4 | €393,094 | €932,859 | +€539,765 | +137% |
| Taxes, remuneration and social security | 45 | €67,289 | €91,581 | +€24,292 | +36.1% |
| Taxes | 450/3 | €616 | €6,636 | +€6,020 | +978% |
| Remuneration and social security | 454/9 | €66,673 | €84,945 | +€18,272 | +27.4% |
| Other amounts payable | 47/48 | €195,000 | €283,296 | +€88,296 | +45.3% |
| Remuneration, social security and pensions | 62 | €609,001 | €877,824 | +€268,823 | +44.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €72,841 | €107,023 | +€34,182 | +46.9% |
| Other operating charges | 640/8 | €19,935 | €8,552 | -€11,383 | -57.1% |
| Non-recurring operating charges | 66A | €15,938 | - | -€15,938 | |
| Gross operating margin | 9900 | €664,912 | €1,374,687 | +€709,775 | +107% |
| Operating profit (loss) | 9901 | -€52,804 | €381,288 | +€434,092 | |
| Financial income | 75/76B | €10,661 | €5,561 | -€5,100 | -47.8% |
| Recurring financial income | 75 | €2,835 | €5,561 | +€2,726 | +96.1% |
| Non-recurring financial income | 76B | €7,826 | - | -€7,826 | |
| Financial charges | 65/66B | €23,516 | €66,247 | +€42,731 | +182% |
| Recurring financial charges | 65 | €23,516 | €66,247 | +€42,731 | +182% |
| Profit (loss) for the period before taxes | 9903 | -€65,659 | €320,602 | +€386,261 | |
| Income taxes | 67/77 | €128 | €159 | +€31 | +24.6% |
| Profit (loss) for the period | 9904 | -€65,786 | €320,443 | +€386,229 | |
| Profit (loss) for the period to be appropriated | 9905 | -€65,786 | €320,443 | +€386,229 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.