ALVAROMA: 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.
ALVAROMA
Largest movements
- Current investments +€2.6m
new in 2025: €2.6m
- Financial fixed assets -€325,000
down €325,000 (-100.0%), from €325,030 to €30
- Tangible fixed assets +€129,554
up €129,554 (+42.1%), from €307,476 to €437,030
of which Furniture and vehicles: +€71,421
- Receivables within one year -€104,523
down €104,523 (-69.7%), from €150,060 to €45,537
of which Other amounts receivable: -€110,638
- Cash +€54,793
up €54,793 (+87.2%), from €62,831 to €117,624
- Profit (loss) carried forward +€2.4m
up €2.4m (+888%), from €274,518 to €2.7m
- Other debts -€196,482
down €196,482 (-94.2%), from €208,471 to €11,989
- Tax, wage and social debts +€190,329
up €190,329 (+344%), from €55,316 to €245,644
- Financial income +€4.2m
up €4.2m (+2,461,093%), from €170 to €4.2m
- Gross operating margin -€199,783
down €199,783 (-81.0%), from €246,693 to €46,910
- Depreciation +€24,784
up €24,784 (+237%), from €10,463 to €35,247
- Financial charges +€20,302
up €20,302 (+358%), from €5,674 to €25,976
- Taxes -€9,250
down €9,250 (-62.7%), from €14,761 to €5,511
From the 2023 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
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €847,783 | €3,245,212 | +€2.4m | +283% |
| Fixed assets | 21/28 | €632,506 | €437,060 | -€195,446 | -30.9% |
| Tangible fixed assets | 22/27 | €307,476 | €437,030 | +€129,554 | +42.1% |
| Land and buildings | 22 | €291,051 | €348,918 | +€57,866 | +19.9% |
| Plant, machinery and equipment | 23 | €2,588 | €2,854 | +€266 | +10.3% |
| Furniture and vehicles | 24 | €13,837 | €85,258 | +€71,421 | +516% |
| Financial fixed assets | 28 | €325,030 | €30 | -€325,000 | -100.0% |
| Current assets | 29/58 | €215,277 | €2,808,151 | +€2.6m | +1,204% |
| Amounts receivable within one year | 40/41 | €150,060 | €45,537 | -€104,523 | -69.7% |
| Trade receivables | 40 | €30,050 | €36,165 | +€6,115 | +20.3% |
| Other amounts receivable | 41 | €120,010 | €9,372 | -€110,638 | -92.2% |
| Current investments | 50/53 | - | €2,644,000 | +€2.6m | |
| Cash at bank and in hand | 54/58 | €62,831 | €117,624 | +€54,793 | +87.2% |
| Deferred charges and accrued income | 490/1 | €2,386 | €990 | -€1,395 | -58.5% |
| Total equity and liabilities | 10/49 | €847,783 | €3,245,212 | +€2.4m | +283% |
| Equity | 10/15 | €397,978 | €2,835,894 | +€2.4m | +613% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Reserves | 13 | €103,000 | €103,000 | = | 0.0% |
| Distributable reserves | 133 | €103,000 | €103,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €274,518 | €2,712,434 | +€2.4m | +888% |
| Amounts payable | 17/49 | €449,805 | €409,318 | -€40,488 | -9.0% |
| Amounts payable after more than one year | 17 | €153,118 | €124,443 | -€28,675 | -18.7% |
| Financial debts | 170/4 | €153,118 | €124,443 | -€28,675 | -18.7% |
| Amounts payable within one year | 42/48 | €296,687 | €284,874 | -€11,813 | -4.0% |
| Current portion of amounts payable after more than one year | 42 | €26,319 | €19,238 | -€7,081 | -26.9% |
| Trade debts | 44 | €6,581 | €8,003 | +€1,421 | +21.6% |
| Suppliers | 440/4 | €6,581 | €8,003 | +€1,421 | +21.6% |
| Taxes, remuneration and social security | 45 | €55,316 | €245,644 | +€190,329 | +344% |
| Taxes | 450/3 | €55,316 | €245,644 | +€190,329 | +344% |
| Other amounts payable | 47/48 | €208,471 | €11,989 | -€196,482 | -94.2% |
| Non-recurring operating income | 76A | €22,367 | €2,789 | -€19,579 | -87.5% |
| Remuneration, social security and pensions | 62 | €1,741 | €2,488 | +€746 | +42.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,463 | €35,247 | +€24,784 | +237% |
| Other operating charges | 640/8 | €3,477 | €4,954 | +€1,477 | +42.5% |
| Non-recurring operating charges | 66A | €713 | - | -€713 | |
| Gross operating margin | 9900 | €246,693 | €46,910 | -€199,783 | -81.0% |
| Operating profit (loss) | 9901 | €230,299 | €4,222 | -€226,077 | -98.2% |
| Financial income | 75/76B | €170 | €4,190,181 | +€4.2m | +2,461,093% |
| Recurring financial income | 75 | €170 | €4,190,181 | +€4.2m | +2,461,093% |
| Financial charges | 65/66B | €5,674 | €25,976 | +€20,302 | +358% |
| Recurring financial charges | 65 | €5,674 | €25,976 | +€20,302 | +358% |
| Profit (loss) for the period before taxes | 9903 | €224,795 | €4,168,427 | +€3.9m | +1,754% |
| Income taxes | 67/77 | €14,761 | €5,511 | -€9,250 | -62.7% |
| Profit (loss) for the period | 9904 | €210,034 | €4,162,916 | +€4.0m | +1,882% |
| Profit (loss) for the period to be appropriated | 9905 | €210,034 | €4,162,916 | +€4.0m | +1,882% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 22 October 2026 via checked.be.