ALVETCON: 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.
ALVETCON
Largest movements
- Receivables within one year +€259,617
up €259,617 (+131%), from €198,168 to €457,786
of which Trade receivables: +€187,757
- Cash +€242,783
up €242,783 (+82.3%), from €294,925 to €537,708
mainly Other debts (+€533,153) and Net result for the year (+€475,209)
- Tangible fixed assets -€37,249
down €37,249 (-4.6%), from €814,737 to €777,488
of which Land and buildings: -€22,765
- Other debts +€533,153
up €533,153 (+1,632%), from €32,663 to €565,816
- Reserves -€88,791
down €88,791 (-6.4%), from €1.4m to €1.3m
- Tax, wage and social debts +€22,824
up €22,824 (+23.2%), from €98,391 to €121,215
- Gross operating margin +€52,369
up €52,369 (+8.4%), from €621,152 to €673,520
- Taxes -€29,621
down €29,621 (-16.2%), from €182,953 to €153,332
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,562,697 | €2,026,724 | +€464,027 | +29.7% |
| Fixed assets | 21/28 | €815,737 | €778,488 | -€37,249 | -4.6% |
| Tangible fixed assets | 22/27 | €814,737 | €777,488 | -€37,249 | -4.6% |
| Land and buildings | 22 | €782,877 | €760,112 | -€22,765 | -2.9% |
| Plant, machinery and equipment | 23 | €306 | €0 | -€306 | -100% |
| Furniture and vehicles | 24 | €29,871 | €16,382 | -€13,489 | -45.2% |
| Other tangible fixed assets | 26 | €1,684 | €994 | -€690 | -41.0% |
| Financial fixed assets | 28 | €1,000 | €1,000 | = | 0.0% |
| Current assets | 29/58 | €746,960 | €1,248,236 | +€501,277 | +67.1% |
| Amounts receivable within one year | 40/41 | €198,168 | €457,786 | +€259,617 | +131% |
| Trade receivables | 40 | €198,150 | €385,907 | +€187,757 | +94.8% |
| Other amounts receivable | 41 | €18 | €71,878 | +€71,860 | +390,331% |
| Current investments | 50/53 | €247,539 | €247,539 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €294,925 | €537,708 | +€242,783 | +82.3% |
| Deferred charges and accrued income | 490/1 | €6,327 | €5,203 | -€1,124 | -17.8% |
| Total equity and liabilities | 10/49 | €1,562,697 | €2,026,724 | +€464,027 | +29.7% |
| Equity | 10/15 | €1,422,529 | €1,333,738 | -€88,791 | -6.2% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €1,388,855 | €1,300,064 | -€88,791 | -6.4% |
| Distributable reserves | 133 | €1,388,855 | €1,300,064 | -€88,791 | -6.4% |
| Profit (loss) carried forward | 14 | €15,124 | €15,124 | = | 0.0% |
| Amounts payable | 17/49 | €140,168 | €692,986 | +€552,819 | +394% |
| Amounts payable after more than one year | 17 | €925 | €925 | = | 0.0% |
| Financial debts | 170/4 | €0 | - | = | |
| Other amounts payable | 178/9 | €925 | €925 | = | 0.0% |
| Amounts payable within one year | 42/48 | €138,343 | €689,651 | +€551,308 | +399% |
| Current portion of amounts payable after more than one year | 42 | €5,400 | €0 | -€5,400 | -100% |
| Trade debts | 44 | €989 | €170 | -€819 | -82.8% |
| Suppliers | 440/4 | €989 | €170 | -€819 | -82.8% |
| Advances received on contracts in progress | 46 | €900 | €2,450 | +€1,550 | +172% |
| Taxes, remuneration and social security | 45 | €98,391 | €121,215 | +€22,824 | +23.2% |
| Taxes | 450/3 | €98,391 | €121,215 | +€22,824 | +23.2% |
| Other amounts payable | 47/48 | €32,663 | €565,816 | +€533,153 | +1,632% |
| Accrued charges and deferred income | 492/3 | €899 | €2,410 | +€1,511 | +168% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,515 | €37,249 | -€1,266 | -3.3% |
| Other operating charges | 640/8 | €5,220 | €5,230 | +€10 | +0.2% |
| Gross operating margin | 9900 | €621,152 | €673,520 | +€52,369 | +8.4% |
| Operating profit (loss) | 9901 | €577,417 | €631,041 | +€53,624 | +9.3% |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €1,817 | €2,501 | +€684 | +37.7% |
| Recurring financial charges | 65 | €1,817 | €2,501 | +€684 | +37.7% |
| Profit (loss) for the period before taxes | 9903 | €575,601 | €628,541 | +€52,940 | +9.2% |
| Income taxes | 67/77 | €182,953 | €153,332 | -€29,621 | -16.2% |
| Profit (loss) for the period | 9904 | €392,647 | €475,209 | +€82,561 | +21.0% |
| Profit (loss) for the period to be appropriated | 9905 | €392,647 | €475,209 | +€82,561 | +21.0% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.