ALVINO: 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.
ALVINO
Largest movements
- Tangible fixed assets -€222,283
down €222,283 (-57.1%), from €389,302 to €167,019
of which Land and buildings: -€210,411
- Cash +€28,920
up €28,920 (+13.0%), from €222,258 to €251,178
mainly Investment in fixed assets (net) (+€202,950) and Net result for the year (+€52,370)
- Receivables within one year -€27,498
down €27,498 (-98.7%), from €27,861 to €363
of which Other amounts receivable: -€27,377
- Debts after one year -€199,500
down €199,500 (-100.0%), from €199,500 to €0
- Other debts -€92,752
down €92,752 (-82.0%), from €113,125 to €20,373
- Reserves +€52,122
up €52,122 (+84.6%), from €61,628 to €113,751
of which Distributable reserves: +€54,000
- Tax, wage and social debts +€19,783
up €19,783 (+303.6%), from €6,516 to €26,298
- Gross operating margin +€91,279
up €91,279 (+422.1%), from €21,625 to €112,904
- Taxes +€33,479
up €33,479, from -€626 to €32,853
- Depreciation -€12,407
down €12,407 (-39.1%), from €31,740 to €19,333
- Financial charges -€7,637
down €7,637 (-60.9%), from €12,540 to €4,904
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.
Cash bridge derived
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 | €642,247 | €420,612 | -€221,635 | -34.5% |
| Fixed assets | 21/28 | €389,312 | €167,029 | -€222,283 | -57.1% |
| Tangible fixed assets | 22/27 | €389,302 | €167,019 | -€222,283 | -57.1% |
| Land and buildings | 22 | €348,743 | €138,332 | -€210,411 | -60.3% |
| Furniture and vehicles | 24 | €40,560 | €28,688 | -€11,872 | -29.3% |
| Financial fixed assets | 28 | €10 | €10 | = | 0.0% |
| Current assets | 29/58 | €252,935 | €253,583 | +€648 | +0.3% |
| Amounts receivable within one year | 40/41 | €27,861 | €363 | -€27,498 | -98.7% |
| Trade receivables | 40 | €484 | €363 | -€121 | -25.0% |
| Other amounts receivable | 41 | €27,377 | €0 | -€27,377 | -100.0% |
| Cash at bank and in hand | 54/58 | €222,258 | €251,178 | +€28,920 | +13.0% |
| Deferred charges and accrued income | 490/1 | €2,816 | €2,042 | -€774 | -27.5% |
| Total equity and liabilities | 10/49 | €642,247 | €420,612 | -€221,635 | -34.5% |
| Equity | 10/15 | €320,515 | €372,053 | +€51,537 | +16.1% |
| Contributions | 10/11 | €13,333 | €13,333 | = | 0.0% |
| Contributions outside capital | 11 | €13,333 | - | -€13,333 | |
| Other | 1109/19 | €13,333 | - | -€13,333 | |
| Reserves | 13 | €61,628 | €113,751 | +€52,122 | +84.6% |
| Tax-exempt reserves | 132 | €59,628 | €57,751 | -€1,878 | -3.1% |
| Distributable reserves | 133 | €2,000 | €56,000 | +€54,000 | +2700.0% |
| Profit (loss) carried forward | 14 | €245,554 | €244,969 | -€585 | -0.2% |
| Provisions and deferred taxes | 16 | €2,225 | €1,258 | -€967 | -43.5% |
| Deferred taxes | 168 | €2,225 | €1,258 | -€967 | -43.5% |
| Amounts payable | 17/49 | €319,507 | €47,301 | -€272,206 | -85.2% |
| Amounts payable after more than one year | 17 | €199,500 | €0 | -€199,500 | -100.0% |
| Financial debts | 170/4 | €199,500 | €0 | -€199,500 | -100.0% |
| Amounts payable within one year | 42/48 | €120,007 | €47,301 | -€72,706 | -60.6% |
| Financial debts | 43 | €366 | €613 | +€247 | +67.5% |
| Credit institutions | 430/8 | €366 | €613 | +€247 | +67.5% |
| Trade debts | 44 | - | €17 | +€17 | |
| Suppliers | 440/4 | - | €17 | +€17 | |
| Taxes, remuneration and social security | 45 | €6,516 | €26,298 | +€19,783 | +303.6% |
| Taxes | 450/3 | €6,516 | €26,298 | +€19,783 | +303.6% |
| Other amounts payable | 47/48 | €113,125 | €20,373 | -€92,752 | -82.0% |
| Non-recurring operating income | 76A | - | €87,050 | +€87,050 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,740 | €19,333 | -€12,407 | -39.1% |
| Other operating charges | 640/8 | €4,897 | €4,410 | -€487 | -9.9% |
| Gross operating margin | 9900 | €21,625 | €112,904 | +€91,279 | +422.1% |
| Operating profit (loss) | 9901 | -€15,013 | €89,161 | +€104,173 | |
| Financial income | 75/76B | €55 | €0 | -€55 | -100.0% |
| Recurring financial income | 75 | €55 | €0 | -€55 | -100.0% |
| Financial charges | 65/66B | €12,540 | €4,904 | -€7,637 | -60.9% |
| Recurring financial charges | 65 | €12,540 | €4,904 | -€7,637 | -60.9% |
| Profit (loss) for the period before taxes | 9903 | -€27,498 | €84,257 | +€111,755 | |
| Transfer from deferred taxes | 780 | €967 | €967 | = | 0.0% |
| Income taxes | 67/77 | -€626 | €32,853 | +€33,479 | |
| Profit (loss) for the period | 9904 | -€25,906 | €52,370 | +€78,276 | |
| Transfer from tax-exempt reserves | 789 | €1,878 | €1,878 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€24,028 | €54,248 | +€78,276 |
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 12 October 2026 via checked.be.