ALVOLAS: 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.
ALVOLAS
Largest movements
- Current investments +€50,000
new in 2025: €50,000
- Cash -€47,630
down €47,630 (-48.6%), from €98,081 to €50,451
mainly Current investments (-€50,000) and Contributions, distributions and other (-€10,000)
- Stocks and contracts -€9,687
down €9,687 (-52.8%), from €18,334 to €8,648
- Tangible fixed assets -€8,795
down €8,795 (-16.6%), from €53,032 to €44,236
of which Furniture and vehicles: -€7,726
- Receivables within one year +€7,791
up €7,791 (+12.1%), from €64,139 to €71,931
of which Trade receivables: +€8,332
- Trade debts -€9,200
down €9,200 (-91.1%), from €10,103 to €903
- Reserves +€9,068
up €9,068 (+5.3%), from €170,586 to €179,654
of which Distributable reserves: +€9,068
- Debts after one year -€5,110
down €5,110 (-40.2%), from €12,704 to €7,594
- Gross operating margin -€17,550
down €17,550 (-25.3%), from €69,346 to €51,795
- Taxes -€6,125
down €6,125 (-34.9%), from €17,558 to €11,433
- Depreciation +€2,532
up €2,532 (+16.8%), from €15,075 to €17,607
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 | €237,196 | €229,166 | -€8,031 | -3.4% |
| Fixed assets | 21/28 | €53,032 | €44,236 | -€8,795 | -16.6% |
| Tangible fixed assets | 22/27 | €53,032 | €44,236 | -€8,795 | -16.6% |
| Plant, machinery and equipment | 23 | €4,866 | €2,583 | -€2,282 | -46.9% |
| Furniture and vehicles | 24 | €35,263 | €27,537 | -€7,726 | -21.9% |
| Other tangible fixed assets | 26 | €12,903 | €14,116 | +€1,213 | +9.4% |
| Current assets | 29/58 | €184,165 | €184,930 | +€765 | +0.4% |
| Stocks and contracts in progress | 3 | €18,334 | €8,648 | -€9,687 | -52.8% |
| Stocks | 30/36 | €18,334 | €8,648 | -€9,687 | -52.8% |
| Amounts receivable within one year | 40/41 | €64,139 | €71,931 | +€7,791 | +12.1% |
| Trade receivables | 40 | €57,363 | €65,695 | +€8,332 | +14.5% |
| Other amounts receivable | 41 | €6,776 | €6,236 | -€541 | -8.0% |
| Current investments | 50/53 | - | €50,000 | +€50,000 | |
| Cash at bank and in hand | 54/58 | €98,081 | €50,451 | -€47,630 | -48.6% |
| Deferred charges and accrued income | 490/1 | €3,610 | €3,900 | +€290 | +8.0% |
| Total equity and liabilities | 10/49 | €237,196 | €229,166 | -€8,031 | -3.4% |
| Equity | 10/15 | €190,586 | €199,654 | +€9,068 | +4.8% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €170,586 | €179,654 | +€9,068 | +5.3% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €170,586 | €179,654 | +€9,068 | +5.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €46,610 | €29,512 | -€17,098 | -36.7% |
| Amounts payable after more than one year | 17 | €12,704 | €7,594 | -€5,110 | -40.2% |
| Financial debts | 170/4 | €12,704 | €7,594 | -€5,110 | -40.2% |
| Amounts payable within one year | 42/48 | €33,348 | €21,479 | -€11,870 | -35.6% |
| Current portion of amounts payable after more than one year | 42 | €4,912 | €5,110 | +€198 | +4.0% |
| Trade debts | 44 | €10,103 | €903 | -€9,200 | -91.1% |
| Suppliers | 440/4 | €10,103 | €903 | -€9,200 | -91.1% |
| Advances received on contracts in progress | 46 | €962 | €0 | -€962 | -100.0% |
| Taxes, remuneration and social security | 45 | €825 | €714 | -€111 | -13.5% |
| Taxes | 450/3 | €825 | €714 | -€111 | -13.5% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €16,547 | €14,752 | -€1,795 | -10.8% |
| Accrued charges and deferred income | 492/3 | €559 | €440 | -€119 | -21.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,075 | €17,607 | +€2,532 | +16.8% |
| Other operating charges | 640/8 | €2,741 | €2,566 | -€175 | -6.4% |
| Gross operating margin | 9900 | €69,346 | €51,795 | -€17,550 | -25.3% |
| Operating profit (loss) | 9901 | €51,529 | €31,622 | -€19,907 | -38.6% |
| Financial income | 75/76B | €226 | €91 | -€135 | -59.7% |
| Recurring financial income | 75 | €226 | €91 | -€135 | -59.7% |
| Financial charges | 65/66B | €1,635 | €1,213 | -€422 | -25.8% |
| Recurring financial charges | 65 | €1,635 | €1,213 | -€422 | -25.8% |
| Profit (loss) for the period before taxes | 9903 | €50,120 | €30,501 | -€19,619 | -39.1% |
| Income taxes | 67/77 | €17,558 | €11,433 | -€6,125 | -34.9% |
| Profit (loss) for the period | 9904 | €32,563 | €19,068 | -€13,495 | -41.4% |
| Profit (loss) for the period to be appropriated | 9905 | €32,563 | €19,068 | -€13,495 | -41.4% |
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.