ALVOFIN: 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.
ALVOFIN
Largest movements
- Cash -€57,006
down €57,006 (-52.1%), from €109,388 to €52,382
mainly Contributions, distributions and other (-€179,443) and Investment in fixed assets (net) (-€6,145)
- Receivables within one year -€4,071
down €4,071 (-48.4%), from €8,414 to €4,343
of which Trade receivables: -€2,604
- Tangible fixed assets +€1,467
up €1,467 (+13.1%), from €11,162 to €12,629
of which Other tangible fixed assets: +€5,199
- Reserves -€119,478
down €119,478 (-100%), from €119,478 to €0
- Other debts +€60,450
up €60,450 (+2,431%), from €2,487 to €62,937
- Trade debts -€2,983
down €2,983 (-99.9%), from €2,986 to €3
- Tax, wage and social debts +€2,598
up €2,598 (+31.4%), from €8,265 to €10,862
of which Taxes: +€6,235
- Gross operating margin +€8,943
up €8,943 (+12.4%), from €71,853 to €80,797
- Taxes +€4,757
up €4,757 (+43.6%), from €10,918 to €15,675
- Depreciation +€1,452
up €1,452 (+45.0%), from €3,227 to €4,678
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 | €134,715 | €75,680 | -€59,035 | -43.8% |
| Fixed assets | 21/28 | €11,162 | €12,629 | +€1,467 | +13.1% |
| Tangible fixed assets | 22/27 | €11,162 | €12,629 | +€1,467 | +13.1% |
| Furniture and vehicles | 24 | €11,162 | €7,430 | -€3,732 | -33.4% |
| Other tangible fixed assets | 26 | - | €5,199 | +€5,199 | |
| Current assets | 29/58 | €123,553 | €63,051 | -€60,502 | -49.0% |
| Amounts receivable after more than one year | 29 | €5,077 | €5,619 | +€542 | +10.7% |
| Other amounts receivable | 291 | €5,077 | €5,619 | +€542 | +10.7% |
| Amounts receivable within one year | 40/41 | €8,414 | €4,343 | -€4,071 | -48.4% |
| Trade receivables | 40 | €2,622 | €18 | -€2,604 | -99.3% |
| Other amounts receivable | 41 | €5,792 | €4,325 | -€1,467 | -25.3% |
| Cash at bank and in hand | 54/58 | €109,388 | €52,382 | -€57,006 | -52.1% |
| Deferred charges and accrued income | 490/1 | €675 | €708 | +€33 | +5.0% |
| Total equity and liabilities | 10/49 | €134,715 | €75,680 | -€59,035 | -43.8% |
| Equity | 10/15 | €120,978 | €1,500 | -€119,478 | -98.8% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Reserves | 13 | €119,478 | €0 | -€119,478 | -100% |
| Distributable reserves | 133 | €119,478 | €0 | -€119,478 | -100% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €13,737 | €74,180 | +€60,444 | +440% |
| Amounts payable within one year | 42/48 | €13,737 | €73,802 | +€60,066 | +437% |
| Trade debts | 44 | €2,986 | €3 | -€2,983 | -99.9% |
| Suppliers | 440/4 | €2,986 | €3 | -€2,983 | -99.9% |
| Taxes, remuneration and social security | 45 | €8,265 | €10,862 | +€2,598 | +31.4% |
| Taxes | 450/3 | €4,627 | €10,862 | +€6,235 | +135% |
| Remuneration and social security | 454/9 | €3,637 | €0 | -€3,637 | -100% |
| Other amounts payable | 47/48 | €2,487 | €62,937 | +€60,450 | +2,431% |
| Accrued charges and deferred income | 492/3 | - | €378 | +€378 | |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,227 | €4,678 | +€1,452 | +45.0% |
| Other operating charges | 640/8 | €962 | €847 | -€115 | -12.0% |
| Gross operating margin | 9900 | €71,853 | €80,797 | +€8,943 | +12.4% |
| Operating profit (loss) | 9901 | €67,664 | €75,272 | +€7,607 | +11.2% |
| Financial income | 75/76B | €50 | €555 | +€505 | +1,011% |
| Recurring financial income | 75 | €50 | €555 | +€505 | +1,011% |
| Financial charges | 65/66B | €141 | €187 | +€46 | +32.3% |
| Recurring financial charges | 65 | €141 | €187 | +€46 | +32.3% |
| Profit (loss) for the period before taxes | 9903 | €67,573 | €75,640 | +€8,067 | +11.9% |
| Income taxes | 67/77 | €10,918 | €15,675 | +€4,757 | +43.6% |
| Profit (loss) for the period | 9904 | €56,655 | €59,965 | +€3,310 | +5.8% |
| Profit (loss) for the period to be appropriated | 9905 | €56,655 | €59,965 | +€3,310 | +5.8% |
Source: filed annual accounts (NBB), financial years ended 30 June 2025 and 30 June 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.