Alvergreen: 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.
Alvergreen
Largest movements
- Tangible fixed assets +€454,359
up €454,359 (+75.9%), from €598,667 to €1.1m
- Receivables within one year +€409,121
up €409,121 (+97,617%), from €419 to €409,540
of which Trade receivables: +€401,053
- Debts after one year +€394,193
up €394,193 (+70.7%), from €557,519 to €951,712
- Reserves +€288,702
up €288,702 (+7,080%), from €4,078 to €292,780
- Tax, wage and social debts +€86,978
up €86,978 (+2,388%), from €3,643 to €90,620
of which Taxes: +€84,603
- Other debts +€68,070
up €68,070 (+303%), from €22,489 to €90,559
- Current portion of long-term debt +€19,306
up €19,306 (+54.2%), from €35,598 to €54,904
- Gross operating margin +€385,417
up €385,417 (+618%), from €62,382 to €447,799
- Taxes +€86,936
up €86,936 (+7,903%), from €1,100 to €88,036
- Financial charges +€7,347
up €7,347 (+37.8%), from €19,418 to €26,765
- Depreciation +€5,739
up €5,739 (+17.0%), from €33,772 to €39,511
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 | €626,978 | €1,485,910 | +€858,932 | +137% |
| Fixed assets | 21/28 | €598,667 | €1,055,791 | +€457,124 | +76.4% |
| Intangible fixed assets | 21 | - | €2,765 | +€2,765 | |
| Tangible fixed assets | 22/27 | €598,667 | €1,053,026 | +€454,359 | +75.9% |
| Land and buildings | 22 | €598,667 | €1,053,026 | +€454,359 | +75.9% |
| Current assets | 29/58 | €28,311 | €430,119 | +€401,808 | +1,419% |
| Amounts receivable within one year | 40/41 | €419 | €409,540 | +€409,121 | +97,617% |
| Trade receivables | 40 | €419 | €401,472 | +€401,053 | +95,692% |
| Other amounts receivable | 41 | - | €8,068 | +€8,068 | |
| Cash at bank and in hand | 54/58 | €26,248 | €16,108 | -€10,140 | -38.6% |
| Deferred charges and accrued income | 490/1 | €1,643 | €4,470 | +€2,827 | +172% |
| Total equity and liabilities | 10/49 | €626,978 | €1,485,910 | +€858,932 | +137% |
| Equity | 10/15 | €6,078 | €294,780 | +€288,702 | +4,750% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €4,078 | €292,780 | +€288,702 | +7,080% |
| Distributable reserves | 133 | €4,078 | €292,780 | +€288,702 | +7,080% |
| Amounts payable | 17/49 | €620,900 | €1,191,130 | +€570,230 | +91.8% |
| Amounts payable after more than one year | 17 | €557,519 | €951,712 | +€394,193 | +70.7% |
| Financial debts | 170/4 | €557,519 | €951,712 | +€394,193 | +70.7% |
| Amounts payable within one year | 42/48 | €63,381 | €238,418 | +€175,037 | +276% |
| Current portion of amounts payable after more than one year | 42 | €35,598 | €54,904 | +€19,306 | +54.2% |
| Trade debts | 44 | €1,651 | €2,335 | +€683 | +41.4% |
| Suppliers | 440/4 | €1,651 | €2,335 | +€683 | +41.4% |
| Taxes, remuneration and social security | 45 | €3,643 | €90,620 | +€86,978 | +2,388% |
| Taxes | 450/3 | €3,643 | €88,245 | +€84,603 | +2,322% |
| Remuneration and social security | 454/9 | - | €2,375 | +€2,375 | |
| Other amounts payable | 47/48 | €22,489 | €90,559 | +€68,070 | +303% |
| Accrued charges and deferred income | 492/3 | - | €1,000 | +€1,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,772 | €39,511 | +€5,739 | +17.0% |
| Other operating charges | 640/8 | €4,015 | €4,786 | +€771 | +19.2% |
| Gross operating margin | 9900 | €62,382 | €447,799 | +€385,417 | +618% |
| Operating profit (loss) | 9901 | €24,596 | €403,502 | +€378,906 | +1,541% |
| Financial charges | 65/66B | €19,418 | €26,765 | +€7,347 | +37.8% |
| Recurring financial charges | 65 | €19,418 | €26,765 | +€7,347 | +37.8% |
| Profit (loss) for the period before taxes | 9903 | €5,178 | €376,738 | +€371,560 | +7,176% |
| Income taxes | 67/77 | €1,100 | €88,036 | +€86,936 | +7,903% |
| Profit (loss) for the period | 9904 | €4,078 | €288,702 | +€284,624 | +6,980% |
| Profit (loss) for the period to be appropriated | 9905 | €4,078 | €288,702 | +€284,624 | +6,980% |
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 23 October 2026 via checked.be.