Alva: 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
Alva
NACE 02.200, Logging
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€4.8m
2024 · -€231,674+€5.1m
Equity
€67.3m
2024 · €62.5m+€4.8m
Cash
€808,605
2024 · €1.3m-€466,250
Balance sheet total
€75.6m
2024 · €82.2m-€6.6m
Largest movements
Assets
- Tangible fixed assets -€4.0m
down €4.0m (-18.0%), from €22.1m to €18.1m
of which Land and buildings: -€3.2m
- Financial fixed assets -€945,431
down €945,431 (-1.7%), from €55.9m to €54.9m
- Receivables within one year -€909,242
down €909,242 (-53.9%), from €1.7m to €776,569
of which Other amounts receivable: -€516,468
Equity and liabilities
- Debts after one year -€7.5m
down €7.5m (-52.6%), from €14.3m to €6.8m
of which Financial debts: -€7.5m
- Reserves +€4.8m
up €4.8m (+12.9%), from €37.7m to €42.5m
of which Distributable reserves: +€4.4m
- Short-term financial debts -€2.5m
no longer reported in 2025 (was €2.5m)
- Current portion of long-term debt -€953,740
down €953,740 (-53.9%), from €1.8m to €814,523
Income statement
- Other operating income +€6.2m
new in 2025: €6.2m
- Gross operating margin -€5.5m
no longer reported in 2025 (was €5.5m)
- Financial income +€5.4m
up €5.4m (+671%), from €803,439 to €6.2m
- Services and other goods +€1.8m
new in 2025: €1.8m
- Staff costs -€520,518
down €520,518 (-33.6%), from €1.5m to €1.0m
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
-€231,674
Turnover
+€174,720
Other operating income
+€6.2m
Goods and materials
-€6,569
Services and other goods
-€1.8m
Staff costs
+€520,518
Depreciation
+€283,123
Write-downs
+€18,682
Other operating charges
+€52,825
Other operating items
-€5.6m
Financial income
+€5.4m
Financial charges
-€266,988
Taxes
+€300,344
Deferred taxes and other
-€144,310
Result 2025
€4.8m
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
+€6.8m
Investment
+€3.7m
Financing
-€11.0m
Cash 2024
€1.3m
From operations (derived)
+€6.8m
Net result for the year
+€4.8m
Depreciation
+€1.2m
Receivables within one year
+€909,242
Deferred charges and accrued income
+€268,441
Provisions
+€134,522
Trade debts
-€601,482
Tax, wage and social debts
-€51,576
Other debts
+€188,852
Accrued charges and deferred income
-€110,704
Investment (derived)
+€3.7m
Investment in fixed assets (net)
+€3.7m
Financing
-€11.0m
Debts after one year
-€7.5m
Current portion of long-term debt
-€953,740
Short-term financial debts
-€2.5m
Cash 2025
€808,605
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €82,204,756 | €75,634,583 | -€6.6m | -8.0% |
| Fixed assets | 21/28 | €77,968,775 | €73,042,535 | -€4.9m | -6.3% |
| Tangible fixed assets | 22/27 | €22,112,843 | €18,132,035 | -€4.0m | -18.0% |
| Land and buildings | 22 | €20,494,974 | €17,298,499 | -€3.2m | -15.6% |
| Plant, machinery and equipment | 23 | €1,515,718 | €769,839 | -€745,880 | -49.2% |
| Furniture and vehicles | 24 | €102,152 | €63,697 | -€38,455 | -37.6% |
| Financial fixed assets | 28 | €55,855,932 | €54,910,501 | -€945,431 | -1.7% |
| Affiliated companies | 280/1 | - | €48,704,145 | +€48.7m | |
| Participating interests | 280 | - | €38,871,207 | +€38.9m | |
| Amounts receivable | 281 | - | €9,832,938 | +€9.8m | |
| Companies linked by participating interests | 282/3 | - | €6,201,765 | +€6.2m | |
| Participating interests | 282 | - | €6,201,765 | +€6.2m | |
| Other financial fixed assets | 284/8 | - | €4,591 | +€4,591 | |
| Amounts receivable and cash guarantees | 285/8 | - | €4,591 | +€4,591 | |
| Current assets | 29/58 | €4,235,981 | €2,592,048 | -€1.6m | -38.8% |
| Amounts receivable within one year | 40/41 | €1,685,811 | €776,569 | -€909,242 | -53.9% |
| Trade receivables | 40 | €754,828 | €362,054 | -€392,774 | -52.0% |
| Other amounts receivable | 41 | €930,983 | €414,515 | -€516,468 | -55.5% |
| Cash at bank and in hand | 54/58 | €1,274,855 | €808,605 | -€466,250 | -36.6% |
| Deferred charges and accrued income | 490/1 | €1,275,315 | €1,006,874 | -€268,441 | -21.0% |
| Total equity and liabilities | 10/49 | €82,204,756 | €75,634,583 | -€6.6m | -8.0% |
| Equity | 10/15 | €62,472,883 | €67,316,112 | +€4.8m | +7.8% |
| Contributions | 10/11 | €24,789,352 | €24,789,352 | = | 0.0% |
| Capital | 10 | €24,789,352 | €24,789,352 | = | 0.0% |
| Issued capital | 100 | €24,789,352 | €24,789,352 | = | 0.0% |
| Reserves | 13 | €37,683,283 | €42,526,759 | +€4.8m | +12.9% |
| Non-distributable reserves | 130/1 | €2,478,935 | €2,478,935 | = | 0.0% |
| Legal reserve | 130 | €2,478,935 | €2,478,935 | = | 0.0% |
| Tax-exempt reserves | 132 | €282,560 | €686,127 | +€403,567 | +143% |
| Distributable reserves | 133 | €34,921,788 | €39,361,697 | +€4.4m | +12.7% |
| Profit (loss) carried forward | 14 | €247 | - | -€247 | |
| Provisions and deferred taxes | 16 | €94,187 | €228,709 | +€134,522 | +143% |
| Deferred taxes | 168 | €94,187 | €228,709 | +€134,522 | +143% |
| Amounts payable | 17/49 | €19,637,687 | €8,089,763 | -€11.5m | -58.8% |
| Amounts payable after more than one year | 17 | €14,282,347 | €6,763,073 | -€7.5m | -52.6% |
| Financial debts | 170/4 | €13,986,421 | €6,502,540 | -€7.5m | -53.5% |
| Credit institutions | 173 | - | €6,502,540 | +€6.5m | |
| Other amounts payable | 178/9 | €295,926 | €260,533 | -€35,393 | -12.0% |
| Amounts payable within one year | 42/48 | €5,244,636 | €1,326,690 | -€3.9m | -74.7% |
| Current portion of amounts payable after more than one year | 42 | €1,768,263 | €814,523 | -€953,740 | -53.9% |
| Financial debts | 43 | €2,500,000 | - | -€2.5m | |
| Credit institutions | 430/8 | €2,500,000 | - | -€2.5m | |
| Trade debts | 44 | €742,736 | €141,254 | -€601,482 | -81.0% |
| Suppliers | 440/4 | €742,736 | €141,254 | -€601,482 | -81.0% |
| Taxes, remuneration and social security | 45 | €125,561 | €73,985 | -€51,576 | -41.1% |
| Taxes | 450/3 | €1,136 | €8,315 | +€7,179 | +632% |
| Remuneration and social security | 454/9 | €124,425 | €65,670 | -€58,755 | -47.2% |
| Other amounts payable | 47/48 | €108,076 | €296,928 | +€188,852 | +175% |
| Accrued charges and deferred income | 492/3 | €110,704 | - | -€110,704 | |
| Operating income | 70/76A | - | €6,662,009 | +€6.7m | |
| Turnover | 70 | €311,712 | €486,432 | +€174,720 | +56.1% |
| Other operating income | 74 | - | €6,160,961 | +€6.2m | |
| Non-recurring operating income | 76A | - | €14,616 | +€14,616 | |
| Operating charges | 60/66A | - | €4,891,649 | +€4.9m | |
| Goods, raw materials, services and sundry goods | 60/61 | €1,352,605 | - | -€1.4m | |
| Goods for resale, raw materials and consumables | 60 | - | €6,569 | +€6,569 | |
| Purchases | 600/8 | - | €6,569 | +€6,569 | |
| Services and other goods | 61 | - | €1,809,426 | +€1.8m | |
| Remuneration, social security and pensions | 62 | €1,549,503 | €1,028,985 | -€520,518 | -33.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,479,748 | €1,196,625 | -€283,123 | -19.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €55,006 | €36,325 | -€18,682 | -34.0% |
| Other operating charges | 640/8 | €393,166 | €340,341 | -€52,825 | -13.4% |
| Non-recurring operating charges | 66A | €13,052 | €473,378 | +€460,325 | +3,527% |
| Gross operating margin | 9900 | €5,465,068 | - | -€5.5m | |
| Operating profit (loss) | 9901 | €1,974,593 | €1,770,360 | -€204,233 | -10.3% |
| Financial income | 75/76B | €803,439 | €6,193,529 | +€5.4m | +671% |
| Recurring financial income | 75 | €803,439 | €6,193,529 | +€5.4m | +671% |
| Income from financial fixed assets | 750 | - | €331,215 | +€331,215 | |
| Income from current assets | 751 | - | €5,057,372 | +€5.1m | |
| Other financial income | 752/9 | - | €804,942 | +€804,942 | |
| Financial charges | 65/66B | €3,016,517 | €3,283,505 | +€266,988 | +8.9% |
| Recurring financial charges | 65 | €816,517 | €594,650 | -€221,866 | -27.2% |
| Debt charges | 650 | - | €493,299 | +€493,299 | |
| Other financial charges | 652/9 | - | €101,352 | +€101,352 | |
| Non-recurring financial charges | 66B | €2,200,000 | €2,688,855 | +€488,855 | +22.2% |
| Profit (loss) for the period before taxes | 9903 | -€238,485 | €4,680,383 | +€4.9m | |
| Transfer from deferred taxes | 780 | €9,787 | €14,204 | +€4,417 | +45.1% |
| Transfer to deferred taxes | 680 | - | €148,726 | +€148,726 | |
| Income taxes | 67/77 | €2,976 | -€297,368 | -€300,344 | |
| Taxes | 670/3 | - | €34,841 | +€34,841 | |
| Tax adjustments and reversals of tax provisions | 77 | - | €332,209 | +€332,209 | |
| Profit (loss) for the period | 9904 | -€231,674 | €4,843,229 | +€5.1m | |
| Transfer from tax-exempt reserves | 789 | €29,362 | €42,612 | +€13,250 | +45.1% |
| Transfer to tax-exempt reserves | 689 | - | €446,178 | +€446,178 | |
| Profit (loss) for the period to be appropriated | 9905 | -€202,312 | €4,439,663 | +€4.6m |
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 16 October 2026 via checked.be.