Alwego: 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.
Alwego
Largest movements
- Cash +€481,535
up €481,535 (+448%), from €107,492 to €589,027
mainly Current investments (+€300,000) and Net result for the year (+€251,361)
- Current investments -€300,000
down €300,000 (-100%), from €300,000 to €0
- Receivables within one year -€76,966
down €76,966 (-39.5%), from €194,790 to €117,824
of which Trade receivables: -€48,209
- Stocks and contracts +€52,328
up €52,328 (+55.2%), from €94,784 to €147,111
- Intangible fixed assets +€25,688
new in 2025: €25,688
- Reserves +€151,361
up €151,361 (+21.1%), from €716,379 to €867,740
of which Distributable reserves: +€151,361
- Debts after one year -€30,199
down €30,199 (-11.1%), from €271,299 to €241,100
- Trade debts +€23,117
up €23,117 (+21.8%), from €105,939 to €129,056
- Gross operating margin +€133,393
up €133,393 (+18.9%), from €706,263 to €839,656
- Staff costs +€82,730
up €82,730 (+32.3%), from €255,753 to €338,483
- Taxes +€52,158
up €52,158 (+79.7%), from €65,404 to €117,562
- Other operating charges +€19,642
up €19,642 (+193%), from €10,184 to €29,826
- Depreciation +€10,402
up €10,402 (+10.6%), from €98,409 to €108,811
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 | €1,250,779 | €1,405,734 | +€154,955 | +12.4% |
| Fixed assets | 21/28 | €507,117 | €527,599 | +€20,481 | +4.0% |
| Intangible fixed assets | 21 | - | €25,688 | +€25,688 | |
| Tangible fixed assets | 22/27 | €506,891 | €501,684 | -€5,207 | -1.0% |
| Land and buildings | 22 | €243,126 | €233,592 | -€9,534 | -3.9% |
| Plant, machinery and equipment | 23 | €59,550 | €42,880 | -€16,670 | -28.0% |
| Furniture and vehicles | 24 | €204,214 | €225,211 | +€20,997 | +10.3% |
| Financial fixed assets | 28 | €227 | €227 | = | 0.0% |
| Current assets | 29/58 | €743,662 | €878,135 | +€134,473 | +18.1% |
| Stocks and contracts in progress | 3 | €94,784 | €147,111 | +€52,328 | +55.2% |
| Stocks | 30/36 | €94,784 | €147,111 | +€52,328 | +55.2% |
| Amounts receivable within one year | 40/41 | €194,790 | €117,824 | -€76,966 | -39.5% |
| Trade receivables | 40 | €148,105 | €99,896 | -€48,209 | -32.6% |
| Other amounts receivable | 41 | €46,685 | €17,928 | -€28,758 | -61.6% |
| Current investments | 50/53 | €300,000 | €0 | -€300,000 | -100% |
| Cash at bank and in hand | 54/58 | €107,492 | €589,027 | +€481,535 | +448% |
| Deferred charges and accrued income | 490/1 | €46,597 | €24,174 | -€22,423 | -48.1% |
| Total equity and liabilities | 10/49 | €1,250,779 | €1,405,734 | +€154,955 | +12.4% |
| Equity | 10/15 | €781,379 | €932,740 | +€151,361 | +19.4% |
| Contributions | 10/11 | €65,000 | €65,000 | = | 0.0% |
| Capital | 10 | €65,000 | €65,000 | = | 0.0% |
| Issued capital | 100 | €65,000 | €65,000 | = | 0.0% |
| Reserves | 13 | €716,379 | €867,740 | +€151,361 | +21.1% |
| Non-distributable reserves | 130/1 | €6,500 | €6,500 | = | 0.0% |
| Legal reserve | 130 | €6,500 | €6,500 | = | 0.0% |
| Tax-exempt reserves | 132 | €210,500 | €210,500 | = | 0.0% |
| Distributable reserves | 133 | €499,379 | €650,740 | +€151,361 | +30.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €0 | - | = | |
| Deferred taxes | 168 | €0 | - | = | |
| Amounts payable | 17/49 | €469,400 | €472,994 | +€3,594 | +0.8% |
| Amounts payable after more than one year | 17 | €271,299 | €241,100 | -€30,199 | -11.1% |
| Financial debts | 170/4 | €271,299 | €241,100 | -€30,199 | -11.1% |
| Amounts payable within one year | 42/48 | €198,101 | €231,894 | +€33,793 | +17.1% |
| Current portion of amounts payable after more than one year | 42 | €55,553 | €65,360 | +€9,807 | +17.7% |
| Trade debts | 44 | €105,939 | €129,056 | +€23,117 | +21.8% |
| Suppliers | 440/4 | €105,939 | €129,056 | +€23,117 | +21.8% |
| Taxes, remuneration and social security | 45 | €35,478 | €37,425 | +€1,947 | +5.5% |
| Taxes | 450/3 | €1,138 | €13,283 | +€12,145 | +1,067% |
| Remuneration and social security | 454/9 | €34,340 | €24,142 | -€10,198 | -29.7% |
| Other amounts payable | 47/48 | €1,131 | €53 | -€1,078 | -95.3% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €255,753 | €338,483 | +€82,730 | +32.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €98,409 | €108,811 | +€10,402 | +10.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | -€6,174 | -€6,174 | |
| Other operating charges | 640/8 | €10,184 | €29,826 | +€19,642 | +193% |
| Gross operating margin | 9900 | €706,263 | €839,656 | +€133,393 | +18.9% |
| Operating profit (loss) | 9901 | €341,918 | €368,710 | +€26,793 | +7.8% |
| Financial income | 75/76B | €19,495 | €9,387 | -€10,108 | -51.9% |
| Recurring financial income | 75 | €19,495 | €9,387 | -€10,108 | -51.9% |
| Financial charges | 65/66B | €8,574 | €9,174 | +€600 | +7.0% |
| Recurring financial charges | 65 | €8,574 | €9,174 | +€600 | +7.0% |
| Profit (loss) for the period before taxes | 9903 | €352,839 | €368,923 | +€16,084 | +4.6% |
| Transfer from deferred taxes | 780 | €384 | €0 | -€384 | -100% |
| Income taxes | 67/77 | €65,404 | €117,562 | +€52,158 | +79.7% |
| Profit (loss) for the period | 9904 | €287,819 | €251,361 | -€36,458 | -12.7% |
| Transfer from tax-exempt reserves | 789 | €1,153 | €0 | -€1,153 | -100% |
| Transfer to tax-exempt reserves | 689 | €210,500 | €0 | -€210,500 | -100% |
| Profit (loss) for the period to be appropriated | 9905 | €78,472 | €251,361 | +€172,889 | +220% |
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 19 October 2026 via checked.be.