ALVEO: 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.
ALVEO
Largest movements
- Tangible fixed assets -€93,253
down €93,253 (-19.5%), from €479,335 to €386,082
of which Land and buildings: -€52,722
- Cash +€8,042
up €8,042 (+3.0%), from €265,625 to €273,667
mainly Net result for the year (+€105,272) and Depreciation (+€93,253)
- Reserves -€70,000
down €70,000 (-37.5%), from €186,860 to €116,860
- Debts after one year -€59,563
down €59,563 (-23.4%), from €254,317 to €194,754
- Other debts +€54,159
up €54,159 (+22.4%), from €241,915 to €296,074
- Profit (loss) carried forward -€10,628
down €10,628 (-99.4%), from €10,691 to €63
- Accrued charges and deferred income -€10,244
down €10,244 (-100%), from €10,244 to €0
- Depreciation -€22,988
down €22,988 (-19.8%), from €116,241 to €93,253
- Gross operating margin +€16,617
up €16,617 (+7.5%), from €220,480 to €237,098
- Taxes +€13,313
up €13,313 (+75.1%), from €17,715 to €31,028
- Financial charges -€11,102
down €11,102 (-62.6%), from €17,721 to €6,619
- Other operating charges -€3,041
down €3,041 (-54.0%), from €5,633 to €2,592
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 | €788,860 | €702,678 | -€86,182 | -10.9% |
| Fixed assets | 21/28 | €484,335 | €391,382 | -€92,953 | -19.2% |
| Tangible fixed assets | 22/27 | €479,335 | €386,082 | -€93,253 | -19.5% |
| Land and buildings | 22 | €374,539 | €321,817 | -€52,722 | -14.1% |
| Plant, machinery and equipment | 23 | €70,594 | €42,946 | -€27,648 | -39.2% |
| Furniture and vehicles | 24 | €30,452 | €17,569 | -€12,883 | -42.3% |
| Other tangible fixed assets | 26 | €3,750 | €3,750 | = | 0.0% |
| Financial fixed assets | 28 | €5,000 | €5,300 | +€300 | +6.0% |
| Current assets | 29/58 | €304,524 | €311,295 | +€6,771 | +2.2% |
| Amounts receivable within one year | 40/41 | €14,209 | €9,092 | -€5,117 | -36.0% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €14,209 | €9,092 | -€5,117 | -36.0% |
| Cash at bank and in hand | 54/58 | €265,625 | €273,667 | +€8,042 | +3.0% |
| Deferred charges and accrued income | 490/1 | €24,691 | €28,536 | +€3,845 | +15.6% |
| Total equity and liabilities | 10/49 | €788,860 | €702,678 | -€86,182 | -10.9% |
| Equity | 10/15 | €216,151 | €135,523 | -€80,628 | -37.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €186,860 | €116,860 | -€70,000 | -37.5% |
| Distributable reserves | 133 | €186,860 | €116,860 | -€70,000 | -37.5% |
| Profit (loss) carried forward | 14 | €10,691 | €63 | -€10,628 | -99.4% |
| Amounts payable | 17/49 | €572,709 | €567,155 | -€5,554 | -1.0% |
| Amounts payable after more than one year | 17 | €254,317 | €194,754 | -€59,563 | -23.4% |
| Financial debts | 170/4 | €254,317 | €194,754 | -€59,563 | -23.4% |
| Amounts payable within one year | 42/48 | €308,148 | €372,401 | +€64,253 | +20.9% |
| Current portion of amounts payable after more than one year | 42 | €62,490 | €63,699 | +€1,209 | +1.9% |
| Trade debts | 44 | €1,043 | €2,100 | +€1,057 | +101% |
| Suppliers | 440/4 | €1,043 | €2,100 | +€1,057 | +101% |
| Taxes, remuneration and social security | 45 | €2,700 | €10,528 | +€7,828 | +290% |
| Taxes | 450/3 | €2,700 | €10,528 | +€7,828 | +290% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €241,915 | €296,074 | +€54,159 | +22.4% |
| Accrued charges and deferred income | 492/3 | €10,244 | €0 | -€10,244 | -100% |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €116,241 | €93,253 | -€22,988 | -19.8% |
| Other operating charges | 640/8 | €5,633 | €2,592 | -€3,041 | -54.0% |
| Gross operating margin | 9900 | €220,480 | €237,098 | +€16,617 | +7.5% |
| Operating profit (loss) | 9901 | €98,606 | €141,253 | +€42,646 | +43.2% |
| Financial income | 75/76B | €1,666 | €1,666 | +€1 | 0.0% |
| Recurring financial income | 75 | €1,666 | €1,666 | +€1 | 0.0% |
| Financial charges | 65/66B | €17,721 | €6,619 | -€11,102 | -62.6% |
| Recurring financial charges | 65 | €17,721 | €6,619 | -€11,102 | -62.6% |
| Profit (loss) for the period before taxes | 9903 | €82,551 | €136,300 | +€53,749 | +65.1% |
| Income taxes | 67/77 | €17,715 | €31,028 | +€13,313 | +75.1% |
| Profit (loss) for the period | 9904 | €64,836 | €105,272 | +€40,436 | +62.4% |
| Profit (loss) for the period to be appropriated | 9905 | €64,836 | €105,272 | +€40,436 | +62.4% |
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 18 October 2026 via checked.be.