ALVERENIGD: 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.
ALVERENIGD
Largest movements
- Stocks and contracts -€529,553
down €529,553 (-18.7%), from €2.8m to €2.3m
of which Stocks: -€529,553
- Cash -€409,339
down €409,339 (-100.0%), from €409,352 to €13
mainly Short-term financial debts (-€881,799) and Net result for the year (-€389,046)
- Receivables within one year -€235,656
down €235,656 (-92.7%), from €254,137 to €18,481
of which Other amounts receivable: -€249,657
- Short-term financial debts -€881,799
down €881,799 (-41.4%), from €2.1m to €1.2m
- Profit (loss) carried forward -€389,046
down €389,046 (-750%), from -€51,867 to -€440,913
- Trade debts +€75,719
up €75,719 (+142%), from €53,206 to €128,924
- Tax, wage and social debts +€42,665
up €42,665, from €0 to €42,665
- Gross operating margin -€468,342
down €468,342, from €172,886 to -€295,456
- Financial charges -€102,782
down €102,782 (-53.7%), from €191,336 to €88,554
- Financial income -€6,235
down €6,235 (-100%), from €6,235 to €0
of which Financial income: -€6,235
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 | €3,492,613 | €2,317,617 | -€1.2m | -33.6% |
| Formation expenses | 20 | €896 | €448 | -€448 | -50.0% |
| Current assets | 29/58 | €3,491,717 | €2,317,169 | -€1.2m | -33.6% |
| Stocks and contracts in progress | 3 | €2,828,228 | €2,298,675 | -€529,553 | -18.7% |
| Stocks | 30/36 | €2,828,228 | €2,298,675 | -€529,553 | -18.7% |
| Contracts in progress | 37 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €254,137 | €18,481 | -€235,656 | -92.7% |
| Trade receivables | 40 | €4,480 | €18,481 | +€14,001 | +313% |
| Other amounts receivable | 41 | €249,657 | €0 | -€249,657 | -100% |
| Cash at bank and in hand | 54/58 | €409,352 | €13 | -€409,339 | -100.0% |
| Total equity and liabilities | 10/49 | €3,492,613 | €2,317,617 | -€1.2m | -33.6% |
| Equity | 10/15 | -€41,867 | -€430,913 | -€389,046 | -929% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€51,867 | -€440,913 | -€389,046 | -750% |
| Amounts payable | 17/49 | €3,534,480 | €2,748,530 | -€785,950 | -22.2% |
| Amounts payable after more than one year | 17 | €768,126 | €768,126 | = | 0.0% |
| Financial debts | 170/4 | €768,126 | €768,126 | = | 0.0% |
| Amounts payable within one year | 42/48 | €2,762,698 | €1,979,406 | -€783,292 | -28.4% |
| Financial debts | 43 | €2,127,513 | €1,245,714 | -€881,799 | -41.4% |
| Credit institutions | 430/8 | €2,127,513 | €1,245,714 | -€881,799 | -41.4% |
| Trade debts | 44 | €53,206 | €128,924 | +€75,719 | +142% |
| Suppliers | 440/4 | €53,206 | €128,924 | +€75,719 | +142% |
| Taxes, remuneration and social security | 45 | €0 | €42,665 | +€42,665 | |
| Taxes | 450/3 | €0 | €42,665 | +€42,665 | |
| Other amounts payable | 47/48 | €581,979 | €562,102 | -€19,877 | -3.4% |
| Accrued charges and deferred income | 492/3 | €3,657 | €998 | -€2,658 | -72.7% |
| Non-recurring operating income | 76A | - | €32,633 | +€32,633 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €448 | €448 | = | 0.0% |
| Other operating charges | 640/8 | €3,657 | €4,589 | +€932 | +25.5% |
| Gross operating margin | 9900 | €172,886 | -€295,456 | -€468,342 | |
| Operating profit (loss) | 9901 | €168,781 | -€300,492 | -€469,274 | |
| Financial income | 75/76B | €6,235 | €0 | -€6,235 | -100% |
| Recurring financial income | 75 | €6,235 | €0 | -€6,235 | -100% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €191,336 | €88,554 | -€102,782 | -53.7% |
| Recurring financial charges | 65 | €191,336 | €88,554 | -€102,782 | -53.7% |
| Profit (loss) for the period before taxes | 9903 | -€16,319 | -€389,046 | -€372,727 | -2,284% |
| Profit (loss) for the period | 9904 | -€16,319 | -€389,046 | -€372,727 | -2,284% |
| Profit (loss) for the period to be appropriated | 9905 | -€16,319 | -€389,046 | -€372,727 | -2,284% |
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 26 October 2026 via checked.be.