Alvano: 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.
Alvano
Largest movements
- Tangible fixed assets -€43,808
down €43,808 (-4.1%), from €1.1m to €1.0m
- Debts after one year -€67,626
down €67,626 (-33.3%), from €202,984 to €135,358
- Profit (loss) carried forward +€36,870
up €36,870 (+42.9%), from €85,956 to €122,826
- Reserves -€14,492
down €14,492 (-4.4%), from €330,296 to €315,804
of which Tax-exempt reserves: -€14,492
- Gross operating margin -€6,724
down €6,724 (-7.0%), from €95,692 to €88,968
- Depreciation -€1,930
down €1,930 (-4.1%), from €46,973 to €45,043
- Financial charges -€1,594
down €1,594 (-20.9%), from €7,610 to €6,016
- Taxes -€1,389
down €1,389 (-9.8%), from €14,176 to €12,787
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 | €1,094,318 | €1,043,526 | -€50,792 | -4.6% |
| Fixed assets | 21/28 | €1,078,363 | €1,034,555 | -€43,808 | -4.1% |
| Tangible fixed assets | 22/27 | €1,078,363 | €1,034,555 | -€43,808 | -4.1% |
| Land and buildings | 22 | €1,078,363 | €1,034,555 | -€43,808 | -4.1% |
| Current assets | 29/58 | €15,955 | €8,971 | -€6,984 | -43.8% |
| Cash at bank and in hand | 54/58 | €15,282 | €8,265 | -€7,017 | -45.9% |
| Deferred charges and accrued income | 490/1 | €673 | €706 | +€33 | +4.9% |
| Total equity and liabilities | 10/49 | €1,094,318 | €1,043,526 | -€50,792 | -4.6% |
| Equity | 10/15 | €455,420 | €477,797 | +€22,377 | +4.9% |
| Contributions | 10/11 | €39,168 | €39,167 | -€1 | 0.0% |
| Reserves | 13 | €330,296 | €315,804 | -€14,492 | -4.4% |
| Tax-exempt reserves | 132 | €321,602 | €307,110 | -€14,492 | -4.5% |
| Distributable reserves | 133 | €8,694 | €8,694 | = | 0.0% |
| Profit (loss) carried forward | 14 | €85,956 | €122,826 | +€36,870 | +42.9% |
| Provisions and deferred taxes | 16 | €131,420 | €125,514 | -€5,906 | -4.5% |
| Deferred taxes | 168 | €131,420 | €125,514 | -€5,906 | -4.5% |
| Amounts payable | 17/49 | €507,478 | €440,215 | -€67,263 | -13.3% |
| Amounts payable after more than one year | 17 | €202,984 | €135,358 | -€67,626 | -33.3% |
| Financial debts | 170/4 | €202,984 | €135,358 | -€67,626 | -33.3% |
| Amounts payable within one year | 42/48 | €300,944 | €301,857 | +€913 | +0.3% |
| Current portion of amounts payable after more than one year | 42 | €68,072 | €69,727 | +€1,655 | +2.4% |
| Trade debts | 44 | €7,595 | €10,242 | +€2,647 | +34.9% |
| Suppliers | 440/4 | €7,595 | €10,242 | +€2,647 | +34.9% |
| Taxes, remuneration and social security | 45 | €10,176 | €3,787 | -€6,389 | -62.8% |
| Taxes | 450/3 | €10,176 | €3,787 | -€6,389 | -62.8% |
| Other amounts payable | 47/48 | €215,101 | €218,101 | +€3,000 | +1.4% |
| Accrued charges and deferred income | 492/3 | €3,550 | €3,000 | -€550 | -15.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €46,973 | €45,043 | -€1,930 | -4.1% |
| Other operating charges | 640/8 | €8,390 | €8,650 | +€260 | +3.1% |
| Gross operating margin | 9900 | €95,692 | €88,968 | -€6,724 | -7.0% |
| Operating profit (loss) | 9901 | €40,329 | €35,275 | -€5,054 | -12.5% |
| Financial charges | 65/66B | €7,610 | €6,016 | -€1,594 | -20.9% |
| Recurring financial charges | 65 | €7,610 | €6,016 | -€1,594 | -20.9% |
| Profit (loss) for the period before taxes | 9903 | €32,719 | €29,259 | -€3,460 | -10.6% |
| Transfer from deferred taxes | 780 | €5,907 | €5,906 | -€1 | 0.0% |
| Income taxes | 67/77 | €14,176 | €12,787 | -€1,389 | -9.8% |
| Profit (loss) for the period | 9904 | €24,450 | €22,378 | -€2,072 | -8.5% |
| Transfer from tax-exempt reserves | 789 | €14,492 | €14,492 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €38,942 | €36,870 | -€2,072 | -5.3% |
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 6 October 2026 via checked.be.