Alvase: what changed
Alvase
Largest movements
- Receivables within one year +€9,565
up €9,565 (+35.1%), from €27,278 to €36,843
of which Trade receivables: +€11,394
- Tangible fixed assets -€4,450
down €4,450 (-23.2%), from €19,207 to €14,757
of which Furniture and vehicles: -€9,486
- Cash -€3,246
down €3,246 (-9.2%), from €35,448 to €32,202
mainly Contributions, distributions and other (-€42,570) and Receivables within one year (-€9,565)
- Stocks and contracts +€1,646
up €1,646 (+47.7%), from €3,454 to €5,100
- Deferred charges and accrued income +€1,599
new in 2025: €1,599
- Other debts +€30,493
up €30,493 (+1,016%), from €3,000 to €33,493
- Reserves -€24,300
down €24,300 (-43.5%), from €55,903 to €31,603
- Tax, wage and social debts +€5,798
up €5,798 (+50.5%), from €11,488 to €17,286
- Debts after one year -€3,894
no longer reported in 2025 (was €3,894)
- Trade debts -€2,326
down €2,326 (-51.4%), from €4,529 to €2,203
- Gross operating margin -€17,451
down €17,451 (-30.6%), from €57,044 to €39,593
- Taxes -€3,327
down €3,327 (-32.3%), from €10,307 to €6,980
- Other operating charges +€738
up €738 (+115%), from €641 to €1,379
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €85,388 | €90,501 | +€5,114 | +6.0% |
| Fixed assets | 21/28 | €19,207 | €14,757 | -€4,450 | -23.2% |
| Tangible fixed assets | 22/27 | €19,207 | €14,757 | -€4,450 | -23.2% |
| Plant, machinery and equipment | 23 | €4,325 | €9,532 | +€5,207 | +120% |
| Furniture and vehicles | 24 | €13,474 | €3,988 | -€9,486 | -70.4% |
| Other tangible fixed assets | 26 | €1,408 | €1,237 | -€171 | -12.1% |
| Current assets | 29/58 | €66,180 | €75,744 | +€9,564 | +14.5% |
| Stocks and contracts in progress | 3 | €3,454 | €5,100 | +€1,646 | +47.7% |
| Stocks | 30/36 | €3,454 | €5,100 | +€1,646 | +47.7% |
| Amounts receivable within one year | 40/41 | €27,278 | €36,843 | +€9,565 | +35.1% |
| Trade receivables | 40 | €24,746 | €36,140 | +€11,394 | +46.0% |
| Other amounts receivable | 41 | €2,532 | €703 | -€1,829 | -72.2% |
| Cash at bank and in hand | 54/58 | €35,448 | €32,202 | -€3,246 | -9.2% |
| Deferred charges and accrued income | 490/1 | - | €1,599 | +€1,599 | |
| Total equity and liabilities | 10/49 | €85,388 | €90,501 | +€5,114 | +6.0% |
| Equity | 10/15 | €57,903 | €33,603 | -€24,300 | -42.0% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €55,903 | €31,603 | -€24,300 | -43.5% |
| Distributable reserves | 133 | €55,903 | €31,603 | -€24,300 | -43.5% |
| Amounts payable | 17/49 | €27,485 | €56,899 | +€29,414 | +107% |
| Amounts payable after more than one year | 17 | €3,894 | - | -€3,894 | |
| Financial debts | 170/4 | €3,894 | - | -€3,894 | |
| Amounts payable within one year | 42/48 | €23,591 | €56,899 | +€33,308 | +141% |
| Current portion of amounts payable after more than one year | 42 | €4,574 | €3,894 | -€680 | -14.9% |
| Financial debts | 43 | - | €22 | +€22 | |
| Credit institutions | 430/8 | - | €22 | +€22 | |
| Trade debts | 44 | €4,529 | €2,203 | -€2,326 | -51.4% |
| Suppliers | 440/4 | €4,529 | €2,203 | -€2,326 | -51.4% |
| Taxes, remuneration and social security | 45 | €11,488 | €17,286 | +€5,798 | +50.5% |
| Taxes | 450/3 | €11,488 | €17,286 | +€5,798 | +50.5% |
| Other amounts payable | 47/48 | €3,000 | €33,493 | +€30,493 | +1,016% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,851 | €12,577 | -€274 | -2.1% |
| Other operating charges | 640/8 | €641 | €1,379 | +€738 | +115% |
| Gross operating margin | 9900 | €57,044 | €39,593 | -€17,451 | -30.6% |
| Operating profit (loss) | 9901 | €43,553 | €25,638 | -€17,915 | -41.1% |
| Financial income | 75/76B | €230 | €1 | -€229 | -99.7% |
| Recurring financial income | 75 | €230 | €1 | -€229 | -99.7% |
| Financial charges | 65/66B | €552 | €389 | -€163 | -29.5% |
| Recurring financial charges | 65 | €552 | €389 | -€163 | -29.5% |
| Profit (loss) for the period before taxes | 9903 | €43,231 | €25,249 | -€17,982 | -41.6% |
| Income taxes | 67/77 | €10,307 | €6,980 | -€3,327 | -32.3% |
| Profit (loss) for the period | 9904 | €32,924 | €18,270 | -€14,655 | -44.5% |
| Profit (loss) for the period to be appropriated | 9905 | €32,924 | €18,270 | -€14,655 | -44.5% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.