ALVARIUM: 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.
ALVARIUM
Largest movements
- Receivables within one year +€163,179
up €163,179 (+519%), from €31,464 to €194,643
of which Trade receivables: +€162,178
- Cash +€102,645
up €102,645 (+72.3%), from €141,981 to €244,626
mainly Net result for the year (+€179,572) and Trade debts (+€93,073)
- Tangible fixed assets +€16,277
up €16,277 (+46.3%), from €35,172 to €51,449
of which Other tangible fixed assets: +€9,317
- Reserves +€179,572
up €179,572 (+71.8%), from €250,010 to €429,582
- Trade debts +€93,073
up €93,073 (+1,541%), from €6,038 to €99,111
- Tax, wage and social debts +€25,059
up €25,059 (+208%), from €12,027 to €37,087
- Gross operating margin +€232,285
up €232,285 (+402%), from €57,751 to €290,036
- Taxes +€87,956
up €87,956 (+24,176%), from €364 to €88,320
- Depreciation -€6,642
down €6,642 (-51.4%), from €12,934 to €6,292
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 | €1,214,259 | €1,510,364 | +€296,105 | +24.4% |
| Fixed assets | 21/28 | €35,172 | €51,449 | +€16,277 | +46.3% |
| Tangible fixed assets | 22/27 | €35,172 | €51,449 | +€16,277 | +46.3% |
| Plant, machinery and equipment | 23 | €4,613 | €5,384 | +€771 | +16.7% |
| Furniture and vehicles | 24 | €3,959 | €10,147 | +€6,189 | +156% |
| Other tangible fixed assets | 26 | €26,600 | €35,917 | +€9,317 | +35.0% |
| Current assets | 29/58 | €1,179,087 | €1,458,915 | +€279,828 | +23.7% |
| Stocks and contracts in progress | 3 | €1,004,127 | €1,014,680 | +€10,553 | +1.1% |
| Stocks | 30/36 | €1,004,127 | €1,014,680 | +€10,553 | +1.1% |
| Amounts receivable within one year | 40/41 | €31,464 | €194,643 | +€163,179 | +519% |
| Trade receivables | 40 | €27,828 | €190,006 | +€162,178 | +583% |
| Other amounts receivable | 41 | €3,636 | €4,637 | +€1,001 | +27.5% |
| Cash at bank and in hand | 54/58 | €141,981 | €244,626 | +€102,645 | +72.3% |
| Deferred charges and accrued income | 490/1 | €1,515 | €4,966 | +€3,451 | +228% |
| Total equity and liabilities | 10/49 | €1,214,259 | €1,510,364 | +€296,105 | +24.4% |
| Equity | 10/15 | €270,010 | €449,582 | +€179,572 | +66.5% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €250,010 | €429,582 | +€179,572 | +71.8% |
| Distributable reserves | 133 | €250,010 | €429,582 | +€179,572 | +71.8% |
| Amounts payable | 17/49 | €944,248 | €1,060,782 | +€116,533 | +12.3% |
| Amounts payable within one year | 42/48 | €944,248 | €1,060,782 | +€116,533 | +12.3% |
| Trade debts | 44 | €6,038 | €99,111 | +€93,073 | +1,541% |
| Suppliers | 440/4 | €6,038 | €99,111 | +€93,073 | +1,541% |
| Advances received on contracts in progress | 46 | €1,278 | - | -€1,278 | |
| Taxes, remuneration and social security | 45 | €12,027 | €37,087 | +€25,059 | +208% |
| Taxes | 450/3 | €12,027 | €37,087 | +€25,059 | +208% |
| Other amounts payable | 47/48 | €924,905 | €924,584 | -€321 | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,934 | €6,292 | -€6,642 | -51.4% |
| Other operating charges | 640/8 | €13,351 | €13,804 | +€453 | +3.4% |
| Non-recurring operating charges | 66A | €270 | €51 | -€219 | -81.0% |
| Gross operating margin | 9900 | €57,751 | €290,036 | +€232,285 | +402% |
| Operating profit (loss) | 9901 | €31,196 | €269,888 | +€238,692 | +765% |
| Financial income | 75/76B | €0 | €5 | +€5 | +5,000% |
| Recurring financial income | 75 | €0 | €5 | +€5 | +5,000% |
| Financial charges | 65/66B | €1,753 | €2,001 | +€247 | +14.1% |
| Recurring financial charges | 65 | €1,753 | €2,001 | +€247 | +14.1% |
| Profit (loss) for the period before taxes | 9903 | €29,442 | €267,892 | +€238,449 | +810% |
| Income taxes | 67/77 | €364 | €88,320 | +€87,956 | +24,176% |
| Profit (loss) for the period | 9904 | €29,079 | €179,572 | +€150,493 | +518% |
| Profit (loss) for the period to be appropriated | 9905 | €29,079 | €179,572 | +€150,493 | +518% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.