ALVODAK: 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.
ALVODAK
Largest movements
- Cash -€236,298
down €236,298 (-33.8%), from €698,434 to €462,135
mainly Trade debts (-€412,252) and Investment in fixed assets (net) (-€47,511)
- Receivables within one year -€118,373
down €118,373 (-30.5%), from €387,898 to €269,525
of which Trade receivables: -€112,690
- Trade debts -€412,252
down €412,252 (-76.0%), from €542,789 to €130,538
- Profit (loss) carried forward +€42,642
up €42,642 (+16.8%), from -€253,542 to -€210,900
- Other debts +€31,714
up €31,714, from €0 to €31,714
- Gross operating margin +€96,091
up €96,091 (+793%), from €12,113 to €108,204
- Depreciation -€74,877
down €74,877 (-69.9%), from €107,083 to €32,206
- Financial charges +€10,259
up €10,259 (+687%), from €1,494 to €11,753
- Other operating charges -€3,316
down €3,316 (-12.1%), from €27,455 to €24,139
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 | €2,260,622 | €1,912,152 | -€348,470 | -15.4% |
| Fixed assets | 21/28 | €1,165,187 | €1,180,492 | +€15,305 | +1.3% |
| Tangible fixed assets | 22/27 | €1,165,187 | €1,180,492 | +€15,305 | +1.3% |
| Land and buildings | 22 | €1,162,224 | €1,178,328 | +€16,104 | +1.4% |
| Plant, machinery and equipment | 23 | €2,964 | €2,165 | -€799 | -27.0% |
| Furniture and vehicles | 24 | €0 | €0 | = | |
| Current assets | 29/58 | €1,095,435 | €731,660 | -€363,775 | -33.2% |
| Amounts receivable within one year | 40/41 | €387,898 | €269,525 | -€118,373 | -30.5% |
| Trade receivables | 40 | €372,526 | €259,836 | -€112,690 | -30.3% |
| Other amounts receivable | 41 | €15,372 | €9,689 | -€5,683 | -37.0% |
| Cash at bank and in hand | 54/58 | €698,434 | €462,135 | -€236,298 | -33.8% |
| Deferred charges and accrued income | 490/1 | €9,103 | - | -€9,103 | |
| Total equity and liabilities | 10/49 | €2,260,622 | €1,912,152 | -€348,470 | -15.4% |
| Equity | 10/15 | €1,409,948 | €1,445,473 | +€35,525 | +2.5% |
| Contributions | 10/11 | €1,140,781 | €1,140,781 | = | 0.0% |
| Capital | 10 | €1,140,000 | €1,140,000 | = | 0.0% |
| Issued capital | 100 | €1,140,000 | €1,140,000 | = | 0.0% |
| Contributions outside capital | 11 | €781 | €781 | = | 0.0% |
| Share premium | 1100/10 | €781 | €781 | = | 0.0% |
| Reserves | 13 | €522,709 | €515,592 | -€7,117 | -1.4% |
| Non-distributable reserves | 130/1 | €23,798 | €23,798 | = | 0.0% |
| Legal reserve | 130 | €23,798 | €23,798 | = | 0.0% |
| Tax-exempt reserves | 132 | - | €538 | +€538 | |
| Distributable reserves | 133 | €498,911 | €491,257 | -€7,654 | -1.5% |
| Profit (loss) carried forward | 14 | -€253,542 | -€210,900 | +€42,642 | +16.8% |
| Provisions and deferred taxes | 16 | €113,876 | €110,735 | -€3,140 | -2.8% |
| Deferred taxes | 168 | €113,876 | €110,735 | -€3,140 | -2.8% |
| Amounts payable | 17/49 | €736,799 | €355,944 | -€380,855 | -51.7% |
| Amounts payable after more than one year | 17 | €192,339 | €192,339 | = | 0.0% |
| Other amounts payable | 178/9 | €192,339 | €192,339 | = | 0.0% |
| Amounts payable within one year | 42/48 | €544,460 | €163,605 | -€380,855 | -70.0% |
| Trade debts | 44 | €542,789 | €130,538 | -€412,252 | -76.0% |
| Suppliers | 440/4 | €542,789 | €130,538 | -€412,252 | -76.0% |
| Taxes, remuneration and social security | 45 | €1,671 | €1,354 | -€317 | -19.0% |
| Taxes | 450/3 | €1,671 | €1,354 | -€317 | -19.0% |
| Other amounts payable | 47/48 | €0 | €31,714 | +€31,714 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €107,083 | €32,206 | -€74,877 | -69.9% |
| Other operating charges | 640/8 | €27,455 | €24,139 | -€3,316 | -12.1% |
| Non-recurring operating charges | 66A | - | €7,717 | +€7,717 | |
| Gross operating margin | 9900 | €12,113 | €108,204 | +€96,091 | +793% |
| Operating profit (loss) | 9901 | -€122,425 | €44,141 | +€166,566 | |
| Financial income | 75/76B | €0 | €4 | +€4 | |
| Recurring financial income | 75 | €0 | €4 | +€4 | |
| Financial charges | 65/66B | €1,494 | €11,753 | +€10,259 | +687% |
| Recurring financial charges | 65 | €1,494 | €11,753 | +€10,259 | +687% |
| Profit (loss) for the period before taxes | 9903 | -€123,919 | €32,392 | +€156,311 | |
| Transfer from deferred taxes | 780 | €5,811 | €7,117 | +€1,306 | +22.5% |
| Income taxes | 67/77 | €324 | €6 | -€317 | -98.0% |
| Profit (loss) for the period | 9904 | -€118,432 | €39,502 | +€157,934 | |
| Transfer from tax-exempt reserves | 789 | €1,937 | €3,140 | +€1,203 | +62.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€116,495 | €42,642 | +€159,138 |
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 13 October 2026 via checked.be.