ALVA: what changed
Two fiscal 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.
ALVA
Largest movements
- Financial fixed assets -€135,000
no longer reported in 2025 (was €135,000)
- Tangible fixed assets +€22,519
up €22,519 (+99.4%), from €22,649 to €45,168
of which Land and buildings: +€25,573
- Cash +€11,493
up €11,493 (+55.0%), from €20,892 to €32,386
mainly Investment in fixed assets (net) (+€103,093) and Depreciation (+€9,388)
- Profit (loss) carried forward -€63,684
new in 2025: -€63,684
- Other debts -€23,690
down €23,690 (-75.8%), from €31,268 to €7,578
- Debts after one year -€9,390
down €9,390 (-23.3%), from €40,332 to €30,942
- Tax, wage and social debts -€5,911
down €5,911 (-40.0%), from €14,794 to €8,883
- Current portion of long-term debt +€3,028
up €3,028 (+21.1%), from €14,326 to €17,354
- Gross operating margin -€47,245
down €47,245, from €36,360 to -€10,885
- Financial charges +€32,046
up €32,046 (+857.3%), from €3,738 to €35,784
- Taxes -€4,917
down €4,917 (-55.4%), from €8,883 to €3,966
- Other operating charges +€3,398
up €3,398 (+1010.2%), from €336 to €3,735
- Depreciation +€2,205
up €2,205 (+30.7%), from €7,183 to €9,388
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.
Cash bridge derived
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 | €178,977 | €79,006 | -€99,971 | -55.9% |
| Fixed assets | 21/28 | €157,649 | €45,168 | -€112,481 | -71.3% |
| Tangible fixed assets | 22/27 | €22,649 | €45,168 | +€22,519 | +99.4% |
| Land and buildings | 22 | - | €25,573 | +€25,573 | |
| Furniture and vehicles | 24 | €22,649 | €19,596 | -€3,054 | -13.5% |
| Financial fixed assets | 28 | €135,000 | - | -€135,000 | |
| Current assets | 29/58 | €21,327 | €33,837 | +€12,510 | +58.7% |
| Amounts receivable within one year | 40/41 | €435 | €1,451 | +€1,016 | +233.6% |
| Trade receivables | 40 | €435 | €53 | -€383 | -87.9% |
| Other amounts receivable | 41 | - | €1,399 | +€1,399 | |
| Cash at bank and in hand | 54/58 | €20,892 | €32,386 | +€11,493 | +55.0% |
| Total equity and liabilities | 10/49 | €178,977 | €79,006 | -€99,971 | -55.9% |
| Equity | 10/15 | €76,689 | €13,005 | -€63,684 | -83.0% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €72,689 | €72,689 | = | 0.0% |
| Distributable reserves | 133 | €72,689 | €72,689 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€63,684 | -€63,684 | |
| Amounts payable | 17/49 | €102,288 | €66,000 | -€36,288 | -35.5% |
| Amounts payable after more than one year | 17 | €40,332 | €30,942 | -€9,390 | -23.3% |
| Financial debts | 170/4 | €40,332 | €30,942 | -€9,390 | -23.3% |
| Amounts payable within one year | 42/48 | €61,956 | €35,058 | -€26,898 | -43.4% |
| Current portion of amounts payable after more than one year | 42 | €14,326 | €17,354 | +€3,028 | +21.1% |
| Trade debts | 44 | €1,568 | €1,243 | -€325 | -20.7% |
| Suppliers | 440/4 | €1,568 | €1,243 | -€325 | -20.7% |
| Taxes, remuneration and social security | 45 | €14,794 | €8,883 | -€5,911 | -40.0% |
| Taxes | 450/3 | €14,794 | €8,883 | -€5,911 | -40.0% |
| Other amounts payable | 47/48 | €31,268 | €7,578 | -€23,690 | -75.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,183 | €9,388 | +€2,205 | +30.7% |
| Other operating charges | 640/8 | €336 | €3,735 | +€3,398 | +1010.2% |
| Gross operating margin | 9900 | €36,360 | -€10,885 | -€47,245 | |
| Operating profit (loss) | 9901 | €28,841 | -€24,007 | -€52,849 | |
| Financial income | 75/76B | - | €74 | +€74 | |
| Recurring financial income | 75 | - | €74 | +€74 | |
| Financial charges | 65/66B | €3,738 | €35,784 | +€32,046 | +857.3% |
| Recurring financial charges | 65 | €3,738 | €35,784 | +€32,046 | +857.3% |
| Profit (loss) for the period before taxes | 9903 | €25,103 | -€59,718 | -€84,821 | |
| Income taxes | 67/77 | €8,883 | €3,966 | -€4,917 | -55.4% |
| Profit (loss) for the period | 9904 | €16,220 | -€63,684 | -€79,904 | |
| Profit (loss) for the period to be appropriated | 9905 | €16,220 | -€63,684 | -€79,904 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.