D. ALGUT: 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.
D. ALGUT
Largest movements
- Deferred charges and accrued income -€136,988
down €136,988 (-78.6%), from €174,188 to €37,200
- Cash -€52,612
down €52,612 (-17.4%), from €302,961 to €250,349
mainly Other debts (-€116,609) and Tax, wage and social debts (-€63,236)
- Receivables within one year +€29,174
up €29,174 (+47826.2%), from €61 to €29,235
of which Other amounts receivable: +€29,235
- Tangible fixed assets -€19,484
down €19,484 (-94.9%), from €20,528 to €1,044
of which Furniture and vehicles: -€18,475
- Other debts -€116,609
down €116,609 (-85.9%), from €135,674 to €19,065
- Tax, wage and social debts -€63,236
no longer reported in 2025 (was €63,236)
- Gross operating margin -€260,168
down €260,168 (-84.8%), from €306,754 to €46,586
- Taxes -€62,971
down €62,971 (-90.0%), from €69,932 to €6,961
- Depreciation +€11,316
up €11,316 (+138.5%), from €8,168 to €19,484
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 | €497,738 | €317,828 | -€179,910 | -36.1% |
| Fixed assets | 21/28 | €20,528 | €1,044 | -€19,484 | -94.9% |
| Tangible fixed assets | 22/27 | €20,528 | €1,044 | -€19,484 | -94.9% |
| Plant, machinery and equipment | 23 | €2,053 | €1,044 | -€1,009 | -49.1% |
| Furniture and vehicles | 24 | €18,475 | - | -€18,475 | |
| Current assets | 29/58 | €477,210 | €316,784 | -€160,426 | -33.6% |
| Amounts receivable within one year | 40/41 | €61 | €29,235 | +€29,174 | +47826.2% |
| Trade receivables | 40 | €61 | - | -€61 | |
| Other amounts receivable | 41 | - | €29,235 | +€29,235 | |
| Cash at bank and in hand | 54/58 | €302,961 | €250,349 | -€52,612 | -17.4% |
| Deferred charges and accrued income | 490/1 | €174,188 | €37,200 | -€136,988 | -78.6% |
| Total equity and liabilities | 10/49 | €497,738 | €317,828 | -€179,910 | -36.1% |
| Equity | 10/15 | €298,337 | €298,337 | = | 0.0% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Reserves | 13 | €298,237 | €298,237 | = | 0.0% |
| Distributable reserves | 133 | €298,237 | €298,237 | = | 0.0% |
| Amounts payable | 17/49 | €199,401 | €19,491 | -€179,910 | -90.2% |
| Amounts payable within one year | 42/48 | €199,401 | €19,091 | -€180,310 | -90.4% |
| Trade debts | 44 | €491 | €26 | -€465 | -94.7% |
| Suppliers | 440/4 | €491 | €26 | -€465 | -94.7% |
| Taxes, remuneration and social security | 45 | €63,236 | - | -€63,236 | |
| Taxes | 450/3 | €63,236 | - | -€63,236 | |
| Other amounts payable | 47/48 | €135,674 | €19,065 | -€116,609 | -85.9% |
| Accrued charges and deferred income | 492/3 | - | €400 | +€400 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,168 | €19,484 | +€11,316 | +138.5% |
| Other operating charges | 640/8 | €587 | €730 | +€143 | +24.4% |
| Gross operating margin | 9900 | €306,754 | €46,586 | -€260,168 | -84.8% |
| Operating profit (loss) | 9901 | €297,999 | €26,372 | -€271,627 | -91.2% |
| Financial charges | 65/66B | €973 | €346 | -€627 | -64.4% |
| Recurring financial charges | 65 | €973 | €346 | -€627 | -64.4% |
| Profit (loss) for the period before taxes | 9903 | €297,026 | €26,026 | -€271,000 | -91.2% |
| Income taxes | 67/77 | €69,932 | €6,961 | -€62,971 | -90.0% |
| Profit (loss) for the period | 9904 | €227,094 | €19,065 | -€208,029 | -91.6% |
| Profit (loss) for the period to be appropriated | 9905 | €227,094 | €19,065 | -€208,029 | -91.6% |
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 29 September 2026 via checked.be.