ALV: 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.
ALV
Largest movements
- Tangible fixed assets -€9,027
down €9,027 (-2.5%), from €365,734 to €356,707
of which Land and buildings: -€9,027
- Reserves +€111,489
up €111,489 (+201%), from €55,491 to €166,980
of which Distributable reserves: +€113,348
- Profit (loss) carried forward -€104,827
no longer reported in 2025 (was €104,827)
- Debts after one year -€19,257
down €19,257 (-8.0%), from €241,734 to €222,477
- Other debts +€6,456
up €6,456 (+10.7%), from €60,437 to €66,894
- Gross operating margin +€15,736
up €15,736 (+173%), from €9,105 to €24,840
- Other operating charges -€1,217
down €1,217 (-43.2%), from €2,816 to €1,599
- Depreciation -€693
down €693 (-7.1%), from €9,720 to €9,027
- Taxes +€666
new in 2025: €666
- Financial charges +€424
up €424 (+6.6%), from €6,462 to €6,886
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 | €498,980 | €490,810 | -€8,170 | -1.6% |
| Fixed assets | 21/28 | €365,734 | €356,707 | -€9,027 | -2.5% |
| Tangible fixed assets | 22/27 | €365,734 | €356,707 | -€9,027 | -2.5% |
| Land and buildings | 22 | €365,734 | €356,707 | -€9,027 | -2.5% |
| Plant, machinery and equipment | 23 | - | €0 | = | |
| Furniture and vehicles | 24 | - | €0 | = | |
| Current assets | 29/58 | €133,246 | €134,103 | +€857 | +0.6% |
| Amounts receivable within one year | 40/41 | €129,191 | €130,195 | +€1,004 | +0.8% |
| Trade receivables | 40 | - | €6 | +€6 | |
| Other amounts receivable | 41 | €129,191 | €130,189 | +€998 | +0.8% |
| Cash at bank and in hand | 54/58 | €3,174 | €3,908 | +€735 | +23.1% |
| Deferred charges and accrued income | 490/1 | €882 | - | -€882 | |
| Total equity and liabilities | 10/49 | €498,980 | €490,810 | -€8,170 | -1.6% |
| Equity | 10/15 | €172,515 | €179,178 | +€6,662 | +3.9% |
| Contributions | 10/11 | €12,197 | €12,197 | = | 0.0% |
| Reserves | 13 | €55,491 | €166,980 | +€111,489 | +201% |
| Non-distributable reserves | 130/1 | €1,859 | - | -€1,859 | |
| Reserves not available under the articles | 1311 | €1,859 | - | -€1,859 | |
| Distributable reserves | 133 | €53,632 | €166,980 | +€113,348 | +211% |
| Profit (loss) carried forward | 14 | €104,827 | - | -€104,827 | |
| Amounts payable | 17/49 | €326,465 | €311,633 | -€14,832 | -4.5% |
| Amounts payable after more than one year | 17 | €241,734 | €222,477 | -€19,257 | -8.0% |
| Financial debts | 170/4 | €241,734 | €222,477 | -€19,257 | -8.0% |
| Amounts payable within one year | 42/48 | €84,731 | €89,156 | +€4,425 | +5.2% |
| Current portion of amounts payable after more than one year | 42 | €21,737 | €20,946 | -€791 | -3.6% |
| Trade debts | 44 | €1,907 | €0 | -€1,907 | -100% |
| Suppliers | 440/4 | €1,907 | €0 | -€1,907 | -100% |
| Advances received on contracts in progress | 46 | €650 | €650 | = | 0.0% |
| Taxes, remuneration and social security | 45 | - | €666 | +€666 | |
| Taxes | 450/3 | - | €666 | +€666 | |
| Other amounts payable | 47/48 | €60,437 | €66,894 | +€6,456 | +10.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,720 | €9,027 | -€693 | -7.1% |
| Other operating charges | 640/8 | €2,816 | €1,599 | -€1,217 | -43.2% |
| Gross operating margin | 9900 | €9,105 | €24,840 | +€15,736 | +173% |
| Operating profit (loss) | 9901 | -€3,431 | €14,214 | +€17,646 | |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €6,462 | €6,886 | +€424 | +6.6% |
| Recurring financial charges | 65 | €6,462 | €6,886 | +€424 | +6.6% |
| Profit (loss) for the period before taxes | 9903 | -€9,893 | €7,329 | +€17,221 | |
| Income taxes | 67/77 | - | €666 | +€666 | |
| Profit (loss) for the period | 9904 | -€9,893 | €6,662 | +€16,555 | |
| Profit (loss) for the period to be appropriated | 9905 | -€9,893 | €6,662 | +€16,555 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.