ALVOS: what changed
Two fiscal 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.
ALVOS
Largest movements
- Tangible fixed assets -€59,196
down €59,196 (-7.8%), from €754,961 to €695,766
of which Plant, machinery and equipment: -€68,179
- Receivables within one year -€10,794
down €10,794 (-17.3%), from €62,556 to €51,762
of which Trade receivables: -€10,735
- Other debts -€198,629
down €198,629 (-21.8%), from €909,647 to €711,017
- Trade debts +€146,688
up €146,688 (+51.8%), from €283,293 to €429,982
- Profit (loss) carried forward -€76,464
down €76,464 (-14.8%), from -€517,530 to -€593,993
- Tax, wage and social debts +€68,044
up €68,044 (+53.5%), from €127,116 to €195,161
of which Remuneration and social security: +€47,474
- Gross operating margin +€315,706
up €315,706 (+68.1%), from €463,715 to €779,421
- Staff costs +€129,972
up €129,972 (+24.6%), from €527,824 to €657,796
- Depreciation +€73,536
up €73,536 (+85.1%), from €86,444 to €159,980
- Financial charges +€8,203
up €8,203 (+41.9%), from €19,555 to €27,758
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 | €930,353 | €869,993 | -€60,360 | -6.5% |
| Fixed assets | 21/28 | €754,961 | €695,766 | -€59,196 | -7.8% |
| Tangible fixed assets | 22/27 | €754,961 | €695,766 | -€59,196 | -7.8% |
| Plant, machinery and equipment | 23 | €342,124 | €273,946 | -€68,179 | -19.9% |
| Furniture and vehicles | 24 | €5,177 | €4,305 | -€871 | -16.8% |
| Other tangible fixed assets | 26 | €407,661 | €417,515 | +€9,854 | +2.4% |
| Current assets | 29/58 | €175,392 | €174,227 | -€1,165 | -0.7% |
| Stocks and contracts in progress | 3 | €79,916 | €87,428 | +€7,512 | +9.4% |
| Stocks | 30/36 | €79,916 | €87,428 | +€7,512 | +9.4% |
| Amounts receivable within one year | 40/41 | €62,556 | €51,762 | -€10,794 | -17.3% |
| Trade receivables | 40 | €62,345 | €51,609 | -€10,735 | -17.2% |
| Other amounts receivable | 41 | €211 | €153 | -€58 | -27.7% |
| Cash at bank and in hand | 54/58 | €32,920 | €35,037 | +€2,117 | +6.4% |
| Total equity and liabilities | 10/49 | €930,353 | €869,993 | -€60,360 | -6.5% |
| Equity | 10/15 | -€389,703 | -€466,167 | -€76,464 | -19.6% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €65,827 | €65,827 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €59,627 | €59,627 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€517,530 | -€593,993 | -€76,464 | -14.8% |
| Amounts payable | 17/49 | €1,320,056 | €1,336,160 | +€16,104 | +1.2% |
| Amounts payable within one year | 42/48 | €1,320,056 | €1,336,160 | +€16,104 | +1.2% |
| Trade debts | 44 | €283,293 | €429,982 | +€146,688 | +51.8% |
| Suppliers | 440/4 | €283,293 | €429,982 | +€146,688 | +51.8% |
| Taxes, remuneration and social security | 45 | €127,116 | €195,161 | +€68,044 | +53.5% |
| Taxes | 450/3 | €50,928 | €71,499 | +€20,571 | +40.4% |
| Remuneration and social security | 454/9 | €76,188 | €123,662 | +€47,474 | +62.3% |
| Other amounts payable | 47/48 | €909,647 | €711,017 | -€198,629 | -21.8% |
| Non-recurring operating income | 76A | - | €40,000 | +€40,000 | |
| Remuneration, social security and pensions | 62 | €527,824 | €657,796 | +€129,972 | +24.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €86,444 | €159,980 | +€73,536 | +85.1% |
| Other operating charges | 640/8 | €9,615 | €9,904 | +€288 | +3.0% |
| Gross operating margin | 9900 | €463,715 | €779,421 | +€315,706 | +68.1% |
| Operating profit (loss) | 9901 | -€160,168 | -€48,258 | +€111,910 | +69.9% |
| Financial income | 75/76B | €32 | - | -€32 | |
| Recurring financial income | 75 | €32 | - | -€32 | |
| Financial charges | 65/66B | €19,555 | €27,758 | +€8,203 | +41.9% |
| Recurring financial charges | 65 | €19,555 | €27,758 | +€8,203 | +41.9% |
| Profit (loss) for the period before taxes | 9903 | -€179,691 | -€76,016 | +€103,675 | +57.7% |
| Income taxes | 67/77 | €5,159 | €447 | -€4,712 | -91.3% |
| Profit (loss) for the period | 9904 | -€184,851 | -€76,464 | +€108,387 | +58.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€184,851 | -€76,464 | +€108,387 | +58.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.