ALVADI: 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.
ALVADI
Largest movements
- Cash +€52,534
up €52,534 (+53.8%), from €97,646 to €150,181
mainly Depreciation (+€37,725) and Net result for the year (+€11,646)
- Tangible fixed assets -€37,725
down €37,725 (-8.0%), from €468,883 to €431,158
of which Land and buildings: -€28,259
- Reserves +€11,646
up €11,646 (+3.8%), from €306,241 to €317,886
of which Distributable reserves: +€11,646
- Other operating charges +€642
up €642 (+28.8%), from €2,225 to €2,867
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 | €573,987 | €584,049 | +€10,062 | +1.8% |
| Fixed assets | 21/28 | €468,883 | €431,158 | -€37,725 | -8.0% |
| Tangible fixed assets | 22/27 | €468,883 | €431,158 | -€37,725 | -8.0% |
| Land and buildings | 22 | €437,476 | €409,217 | -€28,259 | -6.5% |
| Plant, machinery and equipment | 23 | €4,068 | €2,761 | -€1,307 | -32.1% |
| Furniture and vehicles | 24 | €27,339 | €19,180 | -€8,159 | -29.8% |
| Current assets | 29/58 | €105,103 | €152,891 | +€47,788 | +45.5% |
| Amounts receivable within one year | 40/41 | €5,224 | €349 | -€4,875 | -93.3% |
| Trade receivables | 40 | €533 | €0 | -€533 | -100% |
| Other amounts receivable | 41 | €4,691 | €349 | -€4,343 | -92.6% |
| Cash at bank and in hand | 54/58 | €97,646 | €150,181 | +€52,534 | +53.8% |
| Deferred charges and accrued income | 490/1 | €2,233 | €2,362 | +€128 | +5.8% |
| Total equity and liabilities | 10/49 | €573,987 | €584,049 | +€10,062 | +1.8% |
| Equity | 10/15 | €495,604 | €507,249 | +€11,646 | +2.3% |
| Contributions | 10/11 | €150,000 | €150,000 | = | 0.0% |
| Capital | 10 | €150,000 | €150,000 | = | 0.0% |
| Issued capital | 100 | €150,000 | €150,000 | = | 0.0% |
| Reserves | 13 | €306,241 | €317,886 | +€11,646 | +3.8% |
| Non-distributable reserves | 130/1 | €15,000 | €15,000 | = | 0.0% |
| Legal reserve | 130 | €15,000 | €15,000 | = | 0.0% |
| Distributable reserves | 133 | €291,241 | €302,886 | +€11,646 | +4.0% |
| Profit (loss) carried forward | 14 | €39,363 | €39,363 | = | 0.0% |
| Amounts payable | 17/49 | €78,383 | €76,800 | -€1,583 | -2.0% |
| Amounts payable within one year | 42/48 | €78,383 | €76,800 | -€1,583 | -2.0% |
| Trade debts | 44 | €339 | €120 | -€219 | -64.6% |
| Suppliers | 440/4 | €339 | €120 | -€219 | -64.6% |
| Taxes, remuneration and social security | 45 | €1,244 | €1,650 | +€406 | +32.6% |
| Taxes | 450/3 | €1,244 | €1,650 | +€406 | +32.6% |
| Other amounts payable | 47/48 | €76,800 | €75,030 | -€1,770 | -2.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,723 | €37,725 | +€2 | 0.0% |
| Other operating charges | 640/8 | €2,225 | €2,867 | +€642 | +28.8% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €58,503 | €58,135 | -€368 | -0.6% |
| Operating profit (loss) | 9901 | €18,554 | €17,543 | -€1,011 | -5.5% |
| Financial charges | 65/66B | €249 | €246 | -€3 | -1.2% |
| Recurring financial charges | 65 | €249 | €246 | -€3 | -1.2% |
| Profit (loss) for the period before taxes | 9903 | €18,306 | €17,297 | -€1,009 | -5.5% |
| Income taxes | 67/77 | €5,960 | €5,651 | -€308 | -5.2% |
| Profit (loss) for the period | 9904 | €12,346 | €11,646 | -€700 | -5.7% |
| Profit (loss) for the period to be appropriated | 9905 | €12,346 | €11,646 | -€700 | -5.7% |
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 17 October 2026 via checked.be.