DS ALU: 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.
DS ALU
Largest movements
- Receivables within one year -€117,821
down €117,821 (-35.7%), from €330,227 to €212,406
of which Trade receivables: -€92,584
- Cash -€85,908
down €85,908 (-69.3%), from €123,989 to €38,080
mainly Advances received (-€105,229) and Trade debts (-€89,646)
- Stocks and contracts -€25,941
down €25,941 (-3.8%), from €683,948 to €658,006
of which Contracts in progress: -€19,367
- Tangible fixed assets -€18,671
down €18,671 (-11.6%), from €160,787 to €142,116
of which Furniture and vehicles: -€14,497
- Advances received -€105,229
down €105,229 (-19.7%), from €535,493 to €430,264
- Trade debts -€89,646
down €89,646 (-17.1%), from €522,998 to €433,352
- Accrued charges and deferred income -€22,331
no longer reported in 2025 (was €22,331)
- Debts after one year -€21,145
down €21,145 (-28.6%), from €73,880 to €52,735
- Gross operating margin -€44,187
down €44,187 (-6.7%), from €656,635 to €612,447
- Depreciation -€22,591
down €22,591 (-36.2%), from €62,453 to €39,862
- Staff costs -€20,836
down €20,836 (-3.6%), from €571,172 to €550,335
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 | €1,330,765 | €1,094,289 | -€236,476 | -17.8% |
| Fixed assets | 21/28 | €163,079 | €144,203 | -€18,877 | -11.6% |
| Tangible fixed assets | 22/27 | €160,787 | €142,116 | -€18,671 | -11.6% |
| Plant, machinery and equipment | 23 | €34,678 | €32,652 | -€2,026 | -5.8% |
| Furniture and vehicles | 24 | €104,473 | €89,977 | -€14,497 | -13.9% |
| Other tangible fixed assets | 26 | €21,636 | €19,487 | -€2,148 | -9.9% |
| Financial fixed assets | 28 | €2,293 | €2,087 | -€206 | -9.0% |
| Current assets | 29/58 | €1,167,686 | €950,086 | -€217,599 | -18.6% |
| Stocks and contracts in progress | 3 | €683,948 | €658,006 | -€25,941 | -3.8% |
| Stocks | 30/36 | €277,930 | €271,356 | -€6,574 | -2.4% |
| Contracts in progress | 37 | €406,018 | €386,650 | -€19,367 | -4.8% |
| Amounts receivable within one year | 40/41 | €330,227 | €212,406 | -€117,821 | -35.7% |
| Trade receivables | 40 | €274,246 | €181,662 | -€92,584 | -33.8% |
| Other amounts receivable | 41 | €55,981 | €30,744 | -€25,237 | -45.1% |
| Cash at bank and in hand | 54/58 | €123,989 | €38,080 | -€85,908 | -69.3% |
| Deferred charges and accrued income | 490/1 | €29,522 | €41,594 | +€12,072 | +40.9% |
| Total equity and liabilities | 10/49 | €1,330,765 | €1,094,289 | -€236,476 | -17.8% |
| Equity | 10/15 | €95,916 | €106,977 | +€11,060 | +11.5% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €75,916 | €86,977 | +€11,060 | +14.6% |
| Amounts payable | 17/49 | €1,234,849 | €987,313 | -€247,536 | -20.0% |
| Amounts payable after more than one year | 17 | €73,880 | €52,735 | -€21,145 | -28.6% |
| Financial debts | 170/4 | €73,880 | €52,735 | -€21,145 | -28.6% |
| Amounts payable within one year | 42/48 | €1,138,638 | €934,578 | -€204,060 | -17.9% |
| Current portion of amounts payable after more than one year | 42 | €25,866 | €21,145 | -€4,721 | -18.3% |
| Trade debts | 44 | €522,998 | €433,352 | -€89,646 | -17.1% |
| Suppliers | 440/4 | €522,998 | €433,352 | -€89,646 | -17.1% |
| Advances received on contracts in progress | 46 | €535,493 | €430,264 | -€105,229 | -19.7% |
| Taxes, remuneration and social security | 45 | €54,281 | €49,817 | -€4,465 | -8.2% |
| Taxes | 450/3 | €2,629 | €371 | -€2,258 | -85.9% |
| Remuneration and social security | 454/9 | €51,653 | €49,446 | -€2,207 | -4.3% |
| Accrued charges and deferred income | 492/3 | €22,331 | - | -€22,331 | |
| Remuneration, social security and pensions | 62 | €571,172 | €550,335 | -€20,836 | -3.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €62,453 | €39,862 | -€22,591 | -36.2% |
| Other operating charges | 640/8 | €4,237 | €3,103 | -€1,134 | -26.8% |
| Gross operating margin | 9900 | €656,635 | €612,447 | -€44,187 | -6.7% |
| Operating profit (loss) | 9901 | €18,773 | €19,147 | +€374 | +2.0% |
| Financial income | 75/76B | €84 | €355 | +€270 | +320% |
| Recurring financial income | 75 | €84 | €355 | +€270 | +320% |
| Financial charges | 65/66B | €6,039 | €4,857 | -€1,181 | -19.6% |
| Recurring financial charges | 65 | €6,039 | €4,857 | -€1,181 | -19.6% |
| Profit (loss) for the period before taxes | 9903 | €12,819 | €14,644 | +€1,825 | +14.2% |
| Income taxes | 67/77 | €3,164 | €3,584 | +€419 | +13.2% |
| Profit (loss) for the period | 9904 | €9,654 | €11,060 | +€1,406 | +14.6% |
| Profit (loss) for the period to be appropriated | 9905 | €9,654 | €11,060 | +€1,406 | +14.6% |
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 31 October 2026 via checked.be.