ALUVISION: 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.
What changed
ALUVISION
NACE 74.140, Other specialised design activities
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€3.3m
2024 · €3.8m-€505,145
Equity
€28.4m
2024 · €25.1m+€3.3m
Cash
€5.4m
2024 · €7.2m-€1.8m
Balance sheet total
€35.6m
2024 · €32.8m+€2.8m
Largest movements
Assets
- Current investments +€3.8m
up €3.8m (+67,283%), from €5,684 to €3.8m
- Receivables after one year -€2.3m
down €2.3m (-98.0%), from €2.3m to €47,569
- Receivables within one year +€1.9m
up €1.9m (+21.1%), from €9.1m to €11.0m
of which Other amounts receivable: +€967,807
- Cash -€1.8m
down €1.8m (-24.6%), from €7.2m to €5.4m
mainly Current investments (-€3.8m) and Receivables within one year (-€1.9m)
- Stocks and contracts +€917,037
up €917,037 (+10.2%), from €9.0m to €9.9m
Equity and liabilities
- Reserves +€3.3m
up €3.3m (+14.3%), from €22.9m to €26.2m
of which Distributable reserves: +€2.3m
- Accrued charges and deferred income -€1.2m
down €1.2m (-87.7%), from €1.4m to €172,919
- Debts after one year +€627,049
up €627,049 (+51.6%), from €1.2m to €1.8m
- Tax, wage and social debts -€403,249
down €403,249 (-33.0%), from €1.2m to €820,365
of which Remuneration and social security: -€247,797
Income statement
- Financial charges +€1.2m
up €1.2m (+336%), from €360,920 to €1.6m
- Gross operating margin +€732,735
up €732,735 (+6.0%), from €12.3m to €13.0m
- Staff costs +€712,406
up €712,406 (+11.0%), from €6.5m to €7.2m
- Financial income +€587,397
up €587,397 (+126%), from €464,487 to €1.1m
- Taxes -€323,731
down €323,731 (-47.2%), from €685,248 to €361,518
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.
Result 2024
€3.8m
Gross operating margin
+€732,735
Staff costs
-€712,406
Depreciation
-€222,831
Write-downs
-€10,287
Other operating charges
-€80,678
Other operating items
+€91,224
Financial income
+€587,397
Financial charges
-€1.2m
Taxes
+€323,731
Result 2025
€3.3m
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€3.0m
Investment
-€5.6m
Financing
+€781,781
Cash 2024
€7.2m
From operations (derived)
+€3.0m
Net result for the year
+€3.3m
Depreciation
+€1.6m
Receivables after one year
+€2.3m
Stocks and contracts
-€917,037
Receivables within one year
-€1.9m
Deferred charges and accrued income
-€18,525
Trade debts
+€188,640
Tax, wage and social debts
-€403,249
Other debts
+€193,593
Accrued charges and deferred income
-€1.2m
Investment (derived)
-€5.6m
Investment in fixed assets (net)
-€1.7m
Current investments
-€3.8m
Financing
+€781,781
Debts after one year
+€627,049
Current portion of long-term debt
+€154,732
Cash 2025
€5.4m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €32,773,725 | €35,571,078 | +€2.8m | +8.5% |
| Fixed assets | 21/28 | €4,972,054 | €5,152,529 | +€180,475 | +3.6% |
| Intangible fixed assets | 21 | €399,678 | €333,065 | -€66,613 | -16.7% |
| Tangible fixed assets | 22/27 | €4,390,560 | €4,644,836 | +€254,276 | +5.8% |
| Land and buildings | 22 | - | €169,388 | +€169,388 | |
| Plant, machinery and equipment | 23 | €3,463,728 | €3,530,423 | +€66,695 | +1.9% |
| Furniture and vehicles | 24 | €669,203 | €906,585 | +€237,382 | +35.5% |
| Other tangible fixed assets | 26 | €177,629 | €38,440 | -€139,189 | -78.4% |
| Assets under construction and advance payments | 27 | €80,000 | - | -€80,000 | |
| Financial fixed assets | 28 | €181,816 | €174,628 | -€7,189 | -4.0% |
| Current assets | 29/58 | €27,801,671 | €30,418,549 | +€2.6m | +9.4% |
| Amounts receivable after more than one year | 29 | €2,345,541 | €47,569 | -€2.3m | -98.0% |
| Other amounts receivable | 291 | €2,345,541 | €47,569 | -€2.3m | -98.0% |
| Stocks and contracts in progress | 3 | €8,976,470 | €9,893,507 | +€917,037 | +10.2% |
| Stocks | 30/36 | €8,976,470 | €9,893,507 | +€917,037 | +10.2% |
| Amounts receivable within one year | 40/41 | €9,082,146 | €10,994,959 | +€1.9m | +21.1% |
| Trade receivables | 40 | €8,491,196 | €9,436,202 | +€945,006 | +11.1% |
| Other amounts receivable | 41 | €590,950 | €1,558,758 | +€967,807 | +164% |
| Current investments | 50/53 | €5,684 | €3,829,787 | +€3.8m | +67,283% |
| Cash at bank and in hand | 54/58 | €7,159,287 | €5,401,659 | -€1.8m | -24.6% |
| Deferred charges and accrued income | 490/1 | €232,543 | €251,068 | +€18,525 | +8.0% |
| Total equity and liabilities | 10/49 | €32,773,725 | €35,571,078 | +€2.8m | +8.5% |
| Equity | 10/15 | €25,119,387 | €28,384,031 | +€3.3m | +13.0% |
| Contributions | 10/11 | €2,225,883 | €2,225,883 | = | 0.0% |
| Capital | 10 | - | €2,225,883 | +€2.2m | |
| Issued capital | 100 | - | €2,225,883 | +€2.2m | |
| Reserves | 13 | €22,893,504 | €26,158,148 | +€3.3m | +14.3% |
| Non-distributable reserves | 130/1 | €222,588 | €222,588 | = | 0.0% |
| Legal reserve | 130 | - | €222,588 | +€222,588 | |
| Reserves not available under the articles | 1311 | €222,588 | - | -€222,588 | |
| Tax-exempt reserves | 132 | €2,239,321 | €3,239,318 | +€999,997 | +44.7% |
| Distributable reserves | 133 | €20,431,595 | €22,696,242 | +€2.3m | +11.1% |
| Amounts payable | 17/49 | €7,654,338 | €7,187,048 | -€467,290 | -6.1% |
| Amounts payable after more than one year | 17 | €1,216,060 | €1,843,109 | +€627,049 | +51.6% |
| Financial debts | 170/4 | €1,216,060 | €1,843,109 | +€627,049 | +51.6% |
| Amounts payable within one year | 42/48 | €5,037,303 | €5,171,020 | +€133,717 | +2.7% |
| Current portion of amounts payable after more than one year | 42 | €294,152 | €448,885 | +€154,732 | +52.6% |
| Trade debts | 44 | €1,988,686 | €2,177,326 | +€188,640 | +9.5% |
| Suppliers | 440/4 | €1,988,686 | €2,177,326 | +€188,640 | +9.5% |
| Taxes, remuneration and social security | 45 | €1,223,614 | €820,365 | -€403,249 | -33.0% |
| Taxes | 450/3 | €186,370 | €30,918 | -€155,452 | -83.4% |
| Remuneration and social security | 454/9 | €1,037,244 | €789,447 | -€247,797 | -23.9% |
| Other amounts payable | 47/48 | €1,530,851 | €1,724,444 | +€193,593 | +12.6% |
| Accrued charges and deferred income | 492/3 | €1,400,975 | €172,919 | -€1.2m | -87.7% |
| Non-recurring operating income | 76A | €94,934 | €13,849 | -€81,085 | -85.4% |
| Remuneration, social security and pensions | 62 | €6,474,451 | €7,186,857 | +€712,406 | +11.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,328,695 | €1,551,526 | +€222,831 | +16.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €10,287 | +€10,287 | |
| Other operating charges | 640/8 | €52,502 | €133,180 | +€80,678 | +154% |
| Non-recurring operating charges | 66A | €91,224 | - | -€91,224 | |
| Gross operating margin | 9900 | €12,298,343 | €13,031,078 | +€732,735 | +6.0% |
| Operating profit (loss) | 9901 | €4,351,470 | €4,149,228 | -€202,242 | -4.6% |
| Financial income | 75/76B | €464,487 | €1,051,884 | +€587,397 | +126% |
| Recurring financial income | 75 | €464,487 | €1,051,884 | +€587,397 | +126% |
| Financial charges | 65/66B | €360,920 | €1,574,950 | +€1.2m | +336% |
| Recurring financial charges | 65 | €360,920 | €1,574,950 | +€1.2m | +336% |
| Profit (loss) for the period before taxes | 9903 | €4,455,037 | €3,626,162 | -€828,876 | -18.6% |
| Income taxes | 67/77 | €685,248 | €361,518 | -€323,731 | -47.2% |
| Profit (loss) for the period | 9904 | €3,769,789 | €3,264,644 | -€505,145 | -13.4% |
| Transfer to tax-exempt reserves | 689 | - | €999,997 | +€999,997 | |
| Profit (loss) for the period to be appropriated | 9905 | €3,769,789 | €2,264,647 | -€1.5m | -39.9% |
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 15 October 2026 via checked.be.