ALWE: 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.
ALWE
Largest movements
- Tangible fixed assets +€100,204
up €100,204 (+6.8%), from €1.5m to €1.6m
of which Land and buildings: +€498,445
- Debts after one year +€290,790
up €290,790 (+61.4%), from €473,848 to €764,638
- Other debts -€147,077
down €147,077 (-96.0%), from €153,157 to €6,081
- Profit (loss) carried forward -€51,527
down €51,527 (-37.0%), from -€139,238 to -€190,766
- Gross operating margin -€82,386
down €82,386 (-89.9%), from €91,614 to €9,228
- Depreciation +€8,362
up €8,362 (+20.0%), from €41,894 to €50,256
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 | €1,494,178 | €1,589,563 | +€95,384 | +6.4% |
| Fixed assets | 21/28 | €1,478,964 | €1,579,168 | +€100,204 | +6.8% |
| Tangible fixed assets | 22/27 | €1,478,964 | €1,579,168 | +€100,204 | +6.8% |
| Land and buildings | 22 | €918,503 | €1,416,948 | +€498,445 | +54.3% |
| Plant, machinery and equipment | 23 | €4,047 | €3,135 | -€912 | -22.5% |
| Furniture and vehicles | 24 | €3,906 | €2,000 | -€1,906 | -48.8% |
| Other tangible fixed assets | 26 | €17,507 | €41,657 | +€24,150 | +137.9% |
| Assets under construction and advance payments | 27 | €535,001 | €115,429 | -€419,572 | -78.4% |
| Current assets | 29/58 | €15,214 | €10,394 | -€4,820 | -31.7% |
| Amounts receivable within one year | 40/41 | €1,900 | €1,400 | -€500 | -26.3% |
| Trade receivables | 40 | €1,900 | €1,400 | -€500 | -26.3% |
| Cash at bank and in hand | 54/58 | €11,009 | €6,791 | -€4,218 | -38.3% |
| Deferred charges and accrued income | 490/1 | €2,305 | €2,203 | -€102 | -4.4% |
| Total equity and liabilities | 10/49 | €1,494,178 | €1,589,563 | +€95,384 | +6.4% |
| Equity | 10/15 | €860,762 | €809,234 | -€51,527 | -6.0% |
| Contributions | 10/11 | €1,000,000 | €1,000,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€139,238 | -€190,766 | -€51,527 | -37.0% |
| Amounts payable | 17/49 | €633,417 | €780,328 | +€146,912 | +23.2% |
| Amounts payable after more than one year | 17 | €473,848 | €764,638 | +€290,790 | +61.4% |
| Other amounts payable | 178/9 | €473,848 | €764,638 | +€290,790 | +61.4% |
| Amounts payable within one year | 42/48 | €158,197 | €14,874 | -€143,324 | -90.6% |
| Trade debts | 44 | €4,866 | €8,617 | +€3,751 | +77.1% |
| Suppliers | 440/4 | €4,866 | €8,617 | +€3,751 | +77.1% |
| Taxes, remuneration and social security | 45 | €174 | €176 | +€2 | +1.0% |
| Taxes | 450/3 | €174 | €176 | +€2 | +1.0% |
| Other amounts payable | 47/48 | €153,157 | €6,081 | -€147,077 | -96.0% |
| Accrued charges and deferred income | 492/3 | €1,371 | €816 | -€555 | -40.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,894 | €50,256 | +€8,362 | +20.0% |
| Other operating charges | 640/8 | €10,201 | €10,571 | +€370 | +3.6% |
| Gross operating margin | 9900 | €91,614 | €9,228 | -€82,386 | -89.9% |
| Operating profit (loss) | 9901 | €39,519 | -€51,599 | -€91,118 | |
| Financial income | 75/76B | - | €400 | +€400 | |
| Recurring financial income | 75 | - | €400 | +€400 | |
| Financial charges | 65/66B | €215 | €152 | -€63 | -29.3% |
| Recurring financial charges | 65 | €215 | €152 | -€63 | -29.3% |
| Profit (loss) for the period before taxes | 9903 | €39,304 | -€51,351 | -€90,655 | |
| Income taxes | 67/77 | €174 | €176 | +€2 | +1.0% |
| Profit (loss) for the period | 9904 | €39,129 | -€51,527 | -€90,657 | |
| Profit (loss) for the period to be appropriated | 9905 | €39,129 | -€51,527 | -€90,657 |
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 29 September 2026 via checked.be.