Alvades: 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.
Alvades
Largest movements
- Current investments -€108,109
down €108,109 (-50.4%), from €214,650 to €106,541
- Cash +€83,402
up €83,402 (+175%), from €47,642 to €131,044
mainly Current investments (+€108,109) and Depreciation (+€16,851)
- Tangible fixed assets -€16,851
down €16,851 (-5.0%), from €338,108 to €321,257
of which Land and buildings: -€15,547
- Reserves -€36,923
down €36,923 (-7.7%), from €478,316 to €441,393
- Financial charges -€260,853
down €260,853 (-93.4%), from €279,425 to €18,573
- Gross operating margin -€141,892
down €141,892 (-96.9%), from €146,359 to €4,467
- Financial income -€76,370
down €76,370 (-47.0%), from €162,448 to €86,078
- Staff costs +€2,193
up €2,193 (+2.5%), from €86,611 to €88,804
- Other operating charges -€1,874
down €1,874 (-38.1%), from €4,921 to €3,047
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 | €601,338 | €559,747 | -€41,591 | -6.9% |
| Fixed assets | 21/28 | €338,242 | €321,391 | -€16,851 | -5.0% |
| Tangible fixed assets | 22/27 | €338,108 | €321,257 | -€16,851 | -5.0% |
| Land and buildings | 22 | €322,294 | €306,747 | -€15,547 | -4.8% |
| Furniture and vehicles | 24 | €15,814 | €14,510 | -€1,303 | -8.2% |
| Financial fixed assets | 28 | €134 | €134 | = | 0.0% |
| Current assets | 29/58 | €263,096 | €238,356 | -€24,740 | -9.4% |
| Current investments | 50/53 | €214,650 | €106,541 | -€108,109 | -50.4% |
| Cash at bank and in hand | 54/58 | €47,642 | €131,044 | +€83,402 | +175% |
| Deferred charges and accrued income | 490/1 | €804 | €771 | -€32 | -4.0% |
| Total equity and liabilities | 10/49 | €601,338 | €559,747 | -€41,591 | -6.9% |
| Equity | 10/15 | €496,908 | €459,985 | -€36,923 | -7.4% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €478,316 | €441,393 | -€36,923 | -7.7% |
| Distributable reserves | 133 | €478,316 | €441,393 | -€36,923 | -7.7% |
| Amounts payable | 17/49 | €104,429 | €99,762 | -€4,667 | -4.5% |
| Amounts payable within one year | 42/48 | €104,429 | €99,762 | -€4,667 | -4.5% |
| Trade debts | 44 | €2,922 | €4,792 | +€1,869 | +64.0% |
| Suppliers | 440/4 | €2,922 | €4,792 | +€1,869 | +64.0% |
| Taxes, remuneration and social security | 45 | €4,801 | €179 | -€4,621 | -96.3% |
| Taxes | 450/3 | €1,467 | €179 | -€1,288 | -87.8% |
| Remuneration and social security | 454/9 | €3,334 | €0 | -€3,334 | -100% |
| Other amounts payable | 47/48 | €96,707 | €94,791 | -€1,915 | -2.0% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €157,005 | €3,000 | -€154,005 | -98.1% |
| Remuneration, social security and pensions | 62 | €86,611 | €88,804 | +€2,193 | +2.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,748 | €16,851 | +€103 | +0.6% |
| Other operating charges | 640/8 | €4,921 | €3,047 | -€1,874 | -38.1% |
| Gross operating margin | 9900 | €146,359 | €4,467 | -€141,892 | -96.9% |
| Operating profit (loss) | 9901 | €38,078 | -€104,235 | -€142,313 | |
| Financial income | 75/76B | €162,448 | €86,078 | -€76,370 | -47.0% |
| Recurring financial income | 75 | €162,448 | €86,078 | -€76,370 | -47.0% |
| Financial charges | 65/66B | €279,425 | €18,573 | -€260,853 | -93.4% |
| Recurring financial charges | 65 | €279,425 | €18,573 | -€260,853 | -93.4% |
| Profit (loss) for the period before taxes | 9903 | -€78,899 | -€36,730 | +€42,169 | +53.4% |
| Income taxes | 67/77 | €185 | €194 | +€9 | +4.9% |
| Profit (loss) for the period | 9904 | -€79,084 | -€36,923 | +€42,160 | +53.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€79,084 | -€36,923 | +€42,160 | +53.3% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.