ALVAREZ CONSULT: 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.
ALVAREZ CONSULT
Largest movements
- Cash -€66,222
down €66,222 (-17.8%), from €372,095 to €305,872
mainly Contributions, distributions and other (-€85,000) and Other debts (-€82,323)
- Receivables within one year -€19,178
down €19,178 (-97.1%), from €19,748 to €570
- Intangible fixed assets -€8,571
down €8,571 (-27.9%), from €30,687 to €22,115
- Other debts -€82,323
down €82,323 (-37.1%), from €222,008 to €139,684
- Profit (loss) carried forward -€31,604
down €31,604 (-91.5%), from €34,535 to €2,931
- Tax, wage and social debts +€29,602
up €29,602 (+219%), from €13,534 to €43,135
of which Taxes: +€33,366
- Debts after one year -€8,804
down €8,804 (-32.4%), from €27,174 to €18,371
- Gross operating margin +€74,470
up €74,470 (+147%), from €50,811 to €125,281
- Taxes +€21,050
up €21,050 (+575%), from €3,659 to €24,709
- Staff costs +€8,581
up €8,581 (+38.0%), from €22,584 to €31,165
- Other operating charges -€2,483
down €2,483 (-45.6%), from €5,446 to €2,963
- Depreciation +€1,751
up €1,751 (+17.5%), from €9,981 to €11,731
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 | €434,307 | €344,906 | -€89,401 | -20.6% |
| Fixed assets | 21/28 | €41,732 | €34,551 | -€7,181 | -17.2% |
| Intangible fixed assets | 21 | €30,687 | €22,115 | -€8,571 | -27.9% |
| Tangible fixed assets | 22/27 | €7,065 | €8,456 | +€1,391 | +19.7% |
| Furniture and vehicles | 24 | €1,738 | €4,597 | +€2,859 | +165% |
| Other tangible fixed assets | 26 | €5,327 | €3,859 | -€1,469 | -27.6% |
| Financial fixed assets | 28 | €3,980 | €3,980 | = | 0.0% |
| Current assets | 29/58 | €392,575 | €310,355 | -€82,220 | -20.9% |
| Amounts receivable within one year | 40/41 | €19,748 | €570 | -€19,178 | -97.1% |
| Trade receivables | 40 | €19,748 | €570 | -€19,178 | -97.1% |
| Cash at bank and in hand | 54/58 | €372,095 | €305,872 | -€66,222 | -17.8% |
| Deferred charges and accrued income | 490/1 | €732 | €3,913 | +€3,181 | +435% |
| Total equity and liabilities | 10/49 | €434,307 | €344,906 | -€89,401 | -20.6% |
| Equity | 10/15 | €158,535 | €126,931 | -€31,604 | -19.9% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €119,000 | €119,000 | = | 0.0% |
| Distributable reserves | 133 | €119,000 | €119,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €34,535 | €2,931 | -€31,604 | -91.5% |
| Amounts payable | 17/49 | €275,772 | €217,975 | -€57,797 | -21.0% |
| Amounts payable after more than one year | 17 | €27,174 | €18,371 | -€8,804 | -32.4% |
| Financial debts | 170/4 | €27,174 | €18,371 | -€8,804 | -32.4% |
| Amounts payable within one year | 42/48 | €248,597 | €197,109 | -€51,489 | -20.7% |
| Current portion of amounts payable after more than one year | 42 | €8,558 | €8,804 | +€245 | +2.9% |
| Trade debts | 44 | €4,498 | €5,486 | +€988 | +22.0% |
| Suppliers | 440/4 | €4,498 | €5,486 | +€988 | +22.0% |
| Taxes, remuneration and social security | 45 | €13,534 | €43,135 | +€29,602 | +219% |
| Taxes | 450/3 | €6,908 | €40,274 | +€33,366 | +483% |
| Remuneration and social security | 454/9 | €6,626 | €2,861 | -€3,764 | -56.8% |
| Other amounts payable | 47/48 | €222,008 | €139,684 | -€82,323 | -37.1% |
| Accrued charges and deferred income | 492/3 | - | €2,496 | +€2,496 | |
| Remuneration, social security and pensions | 62 | €22,584 | €31,165 | +€8,581 | +38.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,981 | €11,731 | +€1,751 | +17.5% |
| Other operating charges | 640/8 | €5,446 | €2,963 | -€2,483 | -45.6% |
| Gross operating margin | 9900 | €50,811 | €125,281 | +€74,470 | +147% |
| Operating profit (loss) | 9901 | €12,801 | €79,423 | +€66,622 | +520% |
| Financial charges | 65/66B | €1,606 | €1,318 | -€288 | -18.0% |
| Recurring financial charges | 65 | €1,606 | €1,318 | -€288 | -18.0% |
| Profit (loss) for the period before taxes | 9903 | €11,195 | €78,105 | +€66,910 | +598% |
| Income taxes | 67/77 | €3,659 | €24,709 | +€21,050 | +575% |
| Profit (loss) for the period | 9904 | €7,535 | €53,396 | +€45,860 | +609% |
| Profit (loss) for the period to be appropriated | 9905 | €7,535 | €53,396 | +€45,860 | +609% |
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 19 October 2026 via checked.be.