ALWEN: 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.
ALWEN
Largest movements
- Tangible fixed assets -€74,535
down €74,535 (-83.4%), from €89,327 to €14,791
of which Plant, machinery and equipment: -€63,418
- Cash +€42,035
up €42,035 (+43.9%), from €95,822 to €137,857
mainly Investment in fixed assets (net) (+€56,992) and Net result for the year (+€29,637)
- Stocks and contracts -€15,800
no longer reported in 2025 (was €15,800)
- Receivables within one year +€12,555
up €12,555 (+57.9%), from €21,678 to €34,233
of which Trade receivables: +€12,526
- Deferred charges and accrued income -€6,639
down €6,639 (-96.3%), from €6,896 to €257
- Debts after one year -€35,532
no longer reported in 2025 (was €35,532)
- Profit (loss) carried forward +€27,971
up €27,971 (+90.3%), from €30,986 to €58,957
- Current portion of long-term debt -€23,412
no longer reported in 2025 (was €23,412)
- Trade debts -€10,475
down €10,475 (-34.7%), from €30,143 to €19,668
- Tax, wage and social debts +€3,226
up €3,226 (+18.6%), from €17,319 to €20,545
of which Taxes: +€11,927
- Gross operating margin -€123,192
down €123,192 (-55.1%), from €223,400 to €100,208
- Staff costs -€76,612
down €76,612 (-64.9%), from €118,064 to €41,452
- Depreciation -€31,592
down €31,592 (-64.1%), from €49,260 to €17,668
- Financial charges +€3,203
up €3,203 (+92.5%), from €3,461 to €6,663
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 | €229,648 | €187,138 | -€42,510 | -18.5% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €89,452 | €14,791 | -€74,660 | -83.5% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €89,327 | €14,791 | -€74,535 | -83.4% |
| Plant, machinery and equipment | 23 | €71,340 | €7,921 | -€63,418 | -88.9% |
| Furniture and vehicles | 24 | €897 | €6,870 | +€5,973 | +666% |
| Leasing and similar rights | 25 | €17,090 | €0 | -€17,090 | -100% |
| Financial fixed assets | 28 | €125 | - | -€125 | |
| Current assets | 29/58 | €140,196 | €172,347 | +€32,151 | +22.9% |
| Stocks and contracts in progress | 3 | €15,800 | - | -€15,800 | |
| Stocks | 30/36 | €15,800 | - | -€15,800 | |
| Amounts receivable within one year | 40/41 | €21,678 | €34,233 | +€12,555 | +57.9% |
| Trade receivables | 40 | €21,626 | €34,152 | +€12,526 | +57.9% |
| Other amounts receivable | 41 | €52 | €81 | +€29 | +55.9% |
| Cash at bank and in hand | 54/58 | €95,822 | €137,857 | +€42,035 | +43.9% |
| Deferred charges and accrued income | 490/1 | €6,896 | €257 | -€6,639 | -96.3% |
| Total equity and liabilities | 10/49 | €229,648 | €187,138 | -€42,510 | -18.5% |
| Equity | 10/15 | €55,929 | €80,859 | +€24,930 | +44.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €30,986 | €58,957 | +€27,971 | +90.3% |
| Investment grants | 15 | €4,483 | €1,442 | -€3,041 | -67.8% |
| Amounts payable | 17/49 | €173,719 | €106,279 | -€67,440 | -38.8% |
| Amounts payable after more than one year | 17 | €35,532 | - | -€35,532 | |
| Financial debts | 170/4 | €35,532 | - | -€35,532 | |
| Amounts payable within one year | 42/48 | €138,138 | €105,854 | -€32,284 | -23.4% |
| Current portion of amounts payable after more than one year | 42 | €23,412 | - | -€23,412 | |
| Trade debts | 44 | €30,143 | €19,668 | -€10,475 | -34.7% |
| Suppliers | 440/4 | €30,143 | €19,668 | -€10,475 | -34.7% |
| Taxes, remuneration and social security | 45 | €17,319 | €20,545 | +€3,226 | +18.6% |
| Taxes | 450/3 | €4,857 | €16,784 | +€11,927 | +246% |
| Remuneration and social security | 454/9 | €12,461 | €3,761 | -€8,701 | -69.8% |
| Other amounts payable | 47/48 | €67,264 | €65,642 | -€1,623 | -2.4% |
| Accrued charges and deferred income | 492/3 | €49 | €425 | +€376 | +764% |
| Remuneration, social security and pensions | 62 | €118,064 | €41,452 | -€76,612 | -64.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €49,260 | €17,668 | -€31,592 | -64.1% |
| Other operating charges | 640/8 | €2,232 | €2,060 | -€172 | -7.7% |
| Non-recurring operating charges | 66A | - | €5,629 | +€5,629 | |
| Gross operating margin | 9900 | €223,400 | €100,208 | -€123,192 | -55.1% |
| Operating profit (loss) | 9901 | €53,844 | €33,400 | -€20,444 | -38.0% |
| Financial income | 75/76B | €2,475 | €3,041 | +€566 | +22.9% |
| Recurring financial income | 75 | €2,475 | €3,041 | +€566 | +22.9% |
| Financial charges | 65/66B | €3,461 | €6,663 | +€3,203 | +92.5% |
| Recurring financial charges | 65 | €3,461 | €6,663 | +€3,203 | +92.5% |
| Profit (loss) for the period before taxes | 9903 | €52,858 | €29,778 | -€23,080 | -43.7% |
| Income taxes | 67/77 | €148 | €141 | -€7 | -4.5% |
| Profit (loss) for the period | 9904 | €52,710 | €29,637 | -€23,074 | -43.8% |
| Profit (loss) for the period to be appropriated | 9905 | €52,710 | €29,637 | -€23,074 | -43.8% |
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 18 October 2026 via checked.be.