Alvénat: 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.
Alvénat
Largest movements
- Stocks and contracts +€52,899
up €52,899 (+33.2%), from €159,159 to €212,059
- Intangible fixed assets +€22,704
up €22,704 (+97.2%), from €23,349 to €46,054
- Tangible fixed assets +€18,163
up €18,163 (+27.8%), from €65,289 to €83,452
of which Furniture and vehicles: +€23,071
- Receivables within one year +€16,930
up €16,930 (+32.0%), from €52,984 to €69,914
- Cash -€4,579
down €4,579 (-11.2%), from €40,744 to €36,165
mainly Investment in fixed assets (net) (-€75,044) and Stocks and contracts (-€52,899)
- Trade debts +€109,670
up €109,670 (+424%), from €25,883 to €135,553
- Profit (loss) carried forward -€26,755
down €26,755 (-3.6%), from -€736,984 to -€763,739
- Accrued charges and deferred income +€11,699
up €11,699 (+2,055%), from €569 to €12,268
- Debts after one year +€10,062
up €10,062 (+1.4%), from €714,962 to €725,024
of which Financial debts: +€10,062
- Tax, wage and social debts +€5,938
up €5,938 (+59.3%), from €10,009 to €15,947
of which Taxes: +€5,739
- Gross operating margin -€39,984
down €39,984 (-38.6%), from €103,539 to €63,555
- Depreciation +€5,062
up €5,062 (+17.4%), from €29,114 to €34,176
- Staff costs +€4,976
up €4,976 (+11.5%), from €43,430 to €48,406
- Financial charges -€1,378
down €1,378 (-16.8%), from €8,203 to €6,825
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 | €343,153 | €453,277 | +€110,124 | +32.1% |
| Fixed assets | 21/28 | €88,638 | €129,506 | +€40,868 | +46.1% |
| Intangible fixed assets | 21 | €23,349 | €46,054 | +€22,704 | +97.2% |
| Tangible fixed assets | 22/27 | €65,289 | €83,452 | +€18,163 | +27.8% |
| Plant, machinery and equipment | 23 | €29,250 | €30,386 | +€1,136 | +3.9% |
| Furniture and vehicles | 24 | €16,401 | €39,472 | +€23,071 | +141% |
| Leasing and similar rights | 25 | €13,631 | €9,087 | -€4,544 | -33.3% |
| Other tangible fixed assets | 26 | €6,007 | €4,507 | -€1,500 | -25.0% |
| Current assets | 29/58 | €254,514 | €323,771 | +€69,257 | +27.2% |
| Stocks and contracts in progress | 3 | €159,159 | €212,059 | +€52,899 | +33.2% |
| Stocks | 30/36 | €159,159 | €212,059 | +€52,899 | +33.2% |
| Amounts receivable within one year | 40/41 | €52,984 | €69,914 | +€16,930 | +32.0% |
| Trade receivables | 40 | €52,984 | €69,914 | +€16,930 | +32.0% |
| Cash at bank and in hand | 54/58 | €40,744 | €36,165 | -€4,579 | -11.2% |
| Deferred charges and accrued income | 490/1 | €1,627 | €5,634 | +€4,007 | +246% |
| Total equity and liabilities | 10/49 | €343,153 | €453,277 | +€110,124 | +32.1% |
| Equity | 10/15 | -€556,984 | -€583,739 | -€26,755 | -4.8% |
| Contributions | 10/11 | €180,000 | €180,000 | = | 0.0% |
| Capital | 10 | €180,000 | €180,000 | = | 0.0% |
| Issued capital | 100 | €180,000 | €180,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€736,984 | -€763,739 | -€26,755 | -3.6% |
| Amounts payable | 17/49 | €900,137 | €1,037,016 | +€136,880 | +15.2% |
| Amounts payable after more than one year | 17 | €714,962 | €725,024 | +€10,062 | +1.4% |
| Financial debts | 170/4 | €7,937 | €17,999 | +€10,062 | +127% |
| Other amounts payable | 178/9 | €707,025 | €707,025 | = | 0.0% |
| Amounts payable within one year | 42/48 | €184,606 | €299,724 | +€115,119 | +62.4% |
| Current portion of amounts payable after more than one year | 42 | €106,863 | €106,375 | -€488 | -0.5% |
| Trade debts | 44 | €25,883 | €135,553 | +€109,670 | +424% |
| Suppliers | 440/4 | €25,883 | €135,553 | +€109,670 | +424% |
| Taxes, remuneration and social security | 45 | €10,009 | €15,947 | +€5,938 | +59.3% |
| Taxes | 450/3 | €1,683 | €7,422 | +€5,739 | +341% |
| Remuneration and social security | 454/9 | €8,326 | €8,525 | +€199 | +2.4% |
| Other amounts payable | 47/48 | €41,850 | €41,850 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €569 | €12,268 | +€11,699 | +2,055% |
| Remuneration, social security and pensions | 62 | €43,430 | €48,406 | +€4,976 | +11.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,114 | €34,176 | +€5,062 | +17.4% |
| Other operating charges | 640/8 | €745 | €736 | -€9 | -1.2% |
| Gross operating margin | 9900 | €103,539 | €63,555 | -€39,984 | -38.6% |
| Operating profit (loss) | 9901 | €30,250 | -€19,763 | -€50,013 | |
| Financial income | 75/76B | €267 | €1 | -€266 | -99.7% |
| Recurring financial income | 75 | €267 | €1 | -€266 | -99.7% |
| Financial charges | 65/66B | €8,203 | €6,825 | -€1,378 | -16.8% |
| Recurring financial charges | 65 | €8,203 | €6,825 | -€1,378 | -16.8% |
| Profit (loss) for the period before taxes | 9903 | €22,314 | -€26,588 | -€48,901 | |
| Income taxes | 67/77 | €137 | €168 | +€31 | +22.8% |
| Profit (loss) for the period | 9904 | €22,177 | -€26,755 | -€48,932 | |
| Profit (loss) for the period to be appropriated | 9905 | €22,177 | -€26,755 | -€48,932 |
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 17 October 2026 via checked.be.