D. Alen: 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.
D. Alen
Largest movements
- Cash -€74,379
down €74,379 (-68.2%), from €108,982 to €34,603
mainly Contributions, distributions and other (-€200,049) and Receivables within one year (-€39,446)
- Receivables within one year +€39,446
up €39,446 (+7.4%), from €532,073 to €571,519
of which Other amounts receivable: +€38,627
- Current investments +€38,128
up €38,128 (+2.2%), from €1.7m to €1.8m
- Reserves -€41,770
down €41,770 (-1.7%), from €2.4m to €2.4m
- Tax, wage and social debts +€32,542
up €32,542 (+71.6%), from €45,426 to €77,968
of which Taxes: +€32,542
- Gross operating margin -€63,937
down €63,937 (-25.8%), from €247,984 to €184,047
- Taxes -€21,422
down €21,422 (-25.8%), from €82,988 to €61,565
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 | €2,466,937 | €2,455,551 | -€11,385 | -0.5% |
| Fixed assets | 21/28 | €93,367 | €78,628 | -€14,739 | -15.8% |
| Tangible fixed assets | 22/27 | €93,367 | €78,628 | -€14,739 | -15.8% |
| Land and buildings | 22 | €89,441 | €76,594 | -€12,846 | -14.4% |
| Furniture and vehicles | 24 | €3,926 | €2,033 | -€1,893 | -48.2% |
| Current assets | 29/58 | €2,373,570 | €2,376,924 | +€3,354 | +0.1% |
| Amounts receivable within one year | 40/41 | €532,073 | €571,519 | +€39,446 | +7.4% |
| Trade receivables | 40 | €90,434 | €91,253 | +€819 | +0.9% |
| Other amounts receivable | 41 | €441,639 | €480,267 | +€38,627 | +8.7% |
| Current investments | 50/53 | €1,730,797 | €1,768,925 | +€38,128 | +2.2% |
| Cash at bank and in hand | 54/58 | €108,982 | €34,603 | -€74,379 | -68.2% |
| Deferred charges and accrued income | 490/1 | €1,718 | €1,877 | +€159 | +9.3% |
| Total equity and liabilities | 10/49 | €2,466,937 | €2,455,551 | -€11,385 | -0.5% |
| Equity | 10/15 | €2,416,350 | €2,374,579 | -€41,770 | -1.7% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €2,403,950 | €2,362,179 | -€41,770 | -1.7% |
| Distributable reserves | 133 | €2,403,950 | €2,362,179 | -€41,770 | -1.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €50,587 | €80,972 | +€30,385 | +60.1% |
| Amounts payable within one year | 42/48 | €49,657 | €80,972 | +€31,315 | +63.1% |
| Trade debts | 44 | €4,231 | €3,004 | -€1,227 | -29.0% |
| Suppliers | 440/4 | €4,231 | €3,004 | -€1,227 | -29.0% |
| Taxes, remuneration and social security | 45 | €45,426 | €77,968 | +€32,542 | +71.6% |
| Taxes | 450/3 | €45,426 | €77,968 | +€32,542 | +71.6% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €930 | €0 | -€930 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,514 | €14,739 | +€2,226 | +17.8% |
| Other operating charges | 640/8 | €2,525 | €3,715 | +€1,190 | +47.1% |
| Gross operating margin | 9900 | €247,984 | €184,047 | -€63,937 | -25.8% |
| Operating profit (loss) | 9901 | €232,945 | €165,592 | -€67,353 | -28.9% |
| Financial income | 75/76B | €56,301 | €54,888 | -€1,413 | -2.5% |
| Recurring financial income | 75 | €56,301 | €54,888 | -€1,413 | -2.5% |
| Financial charges | 65/66B | €2,839 | €636 | -€2,204 | -77.6% |
| Recurring financial charges | 65 | €2,839 | €636 | -€2,204 | -77.6% |
| Profit (loss) for the period before taxes | 9903 | €286,407 | €219,844 | -€66,562 | -23.2% |
| Income taxes | 67/77 | €82,988 | €61,565 | -€21,422 | -25.8% |
| Profit (loss) for the period | 9904 | €203,419 | €158,279 | -€45,140 | -22.2% |
| Profit (loss) for the period to be appropriated | 9905 | €203,419 | €158,279 | -€45,140 | -22.2% |
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 14 October 2026 via checked.be.