Ets ALBERT CLOSE: 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.
Ets ALBERT CLOSE
Largest movements
- Financial fixed assets +€100,000
up €100,000 (+23.2%), from €431,685 to €531,685
- Cash +€86,196
up €86,196 (+34.9%), from €246,867 to €333,063
mainly Receivables within one year (+€66,954) and Depreciation (+€65,197)
- Receivables within one year -€66,954
down €66,954 (-31.9%), from €209,796 to €142,842
of which Trade receivables: -€59,321
- Tangible fixed assets -€54,345
down €54,345 (-20.5%), from €264,497 to €210,152
of which Land and buildings: -€38,653
- Stocks and contracts -€51,744
down €51,744 (-14.8%), from €350,308 to €298,564
- Reserves +€64,000
up €64,000 (+21.3%), from €300,700 to €364,700
of which Distributable reserves: +€64,000
- Current portion of long-term debt -€62,095
down €62,095 (-68.7%), from €90,417 to €28,322
- Short-term financial debts +€57,348
up €57,348 (+57.3%), from €100,000 to €157,348
of which Other loans: +€157,348
- Tax, wage and social debts +€39,903
up €39,903 (+110.6%), from €36,094 to €75,997
of which Taxes: +€43,513
- Debts after one year -€28,322
down €28,322 (-24.7%), from €114,529 to €86,207
of which Financial debts: -€28,322
- Staff costs -€62,680
down €62,680 (-21.9%), from €286,339 to €223,658
- Taxes +€28,550
up €28,550 (+1216.1%), from €2,348 to €30,897
- Financial income +€17,447
up €17,447 (+127.7%), from €13,661 to €31,108
of which Financial income: +€17,915
- Write-downs -€12,723
new in 2025: -€12,723
- Gross operating margin +€11,283
up €11,283 (+3.1%), from €369,890 to €381,172
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 | €1,516,188 | €1,560,290 | +€44,102 | +2.9% |
| Fixed assets | 21/28 | €696,182 | €741,837 | +€45,655 | +6.6% |
| Tangible fixed assets | 22/27 | €264,497 | €210,152 | -€54,345 | -20.5% |
| Land and buildings | 22 | €187,016 | €148,364 | -€38,653 | -20.7% |
| Plant, machinery and equipment | 23 | €28,112 | €24,616 | -€3,496 | -12.4% |
| Furniture and vehicles | 24 | €49,368 | €37,173 | -€12,196 | -24.7% |
| Financial fixed assets | 28 | €431,685 | €531,685 | +€100,000 | +23.2% |
| Current assets | 29/58 | €820,006 | €818,453 | -€1,553 | -0.2% |
| Stocks and contracts in progress | 3 | €350,308 | €298,564 | -€51,744 | -14.8% |
| Stocks | 30/36 | €350,308 | €298,564 | -€51,744 | -14.8% |
| Amounts receivable within one year | 40/41 | €209,796 | €142,842 | -€66,954 | -31.9% |
| Trade receivables | 40 | €193,923 | €134,602 | -€59,321 | -30.6% |
| Other amounts receivable | 41 | €15,873 | €8,240 | -€7,633 | -48.1% |
| Cash at bank and in hand | 54/58 | €246,867 | €333,063 | +€86,196 | +34.9% |
| Deferred charges and accrued income | 490/1 | €13,034 | €43,984 | +€30,949 | +237.4% |
| Total equity and liabilities | 10/49 | €1,516,188 | €1,560,290 | +€44,102 | +2.9% |
| Equity | 10/15 | €1,071,872 | €1,136,693 | +€64,821 | +6.0% |
| Contributions | 10/11 | €264,750 | €264,750 | = | 0.0% |
| Capital | 10 | €264,750 | €264,750 | = | 0.0% |
| Issued capital | 100 | €264,750 | €264,750 | = | 0.0% |
| Reserves | 13 | €300,700 | €364,700 | +€64,000 | +21.3% |
| Non-distributable reserves | 130/1 | €94,700 | €94,700 | = | 0.0% |
| Legal reserve | 130 | €26,475 | €26,475 | = | 0.0% |
| Other | 1319 | €68,225 | €68,225 | = | 0.0% |
| Distributable reserves | 133 | €206,000 | €270,000 | +€64,000 | +31.1% |
| Profit (loss) carried forward | 14 | €506,422 | €507,243 | +€821 | +0.2% |
| Amounts payable | 17/49 | €444,315 | €423,597 | -€20,718 | -4.7% |
| Amounts payable after more than one year | 17 | €114,529 | €86,207 | -€28,322 | -24.7% |
| Financial debts | 170/4 | €84,529 | €56,207 | -€28,322 | -33.5% |
| Other amounts payable | 178/9 | €30,000 | €30,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €316,164 | €334,397 | +€18,233 | +5.8% |
| Current portion of amounts payable after more than one year | 42 | €90,417 | €28,322 | -€62,095 | -68.7% |
| Financial debts | 43 | €100,000 | €157,348 | +€57,348 | +57.3% |
| Credit institutions | 430/8 | €100,000 | - | -€100,000 | |
| Other loans | 439 | - | €157,348 | +€157,348 | |
| Trade debts | 44 | €85,826 | €61,798 | -€24,027 | -28.0% |
| Suppliers | 440/4 | €85,826 | €61,798 | -€24,027 | -28.0% |
| Advances received on contracts in progress | 46 | €3,827 | - | -€3,827 | |
| Taxes, remuneration and social security | 45 | €36,094 | €75,997 | +€39,903 | +110.6% |
| Taxes | 450/3 | €12,095 | €55,608 | +€43,513 | +359.8% |
| Remuneration and social security | 454/9 | €23,999 | €20,389 | -€3,611 | -15.0% |
| Other amounts payable | 47/48 | - | €10,932 | +€10,932 | |
| Accrued charges and deferred income | 492/3 | €13,622 | €2,993 | -€10,629 | -78.0% |
| Remuneration, social security and pensions | 62 | €286,339 | €223,658 | -€62,680 | -21.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €59,755 | €65,197 | +€5,442 | +9.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | -€12,723 | -€12,723 | |
| Other operating charges | 640/8 | €24,148 | €25,573 | +€1,425 | +5.9% |
| Non-recurring operating charges | 66A | €303 | €431 | +€128 | +42.4% |
| Gross operating margin | 9900 | €369,890 | €381,172 | +€11,283 | +3.1% |
| Operating profit (loss) | 9901 | -€655 | €79,035 | +€79,691 | |
| Financial income | 75/76B | €13,661 | €31,108 | +€17,447 | +127.7% |
| Recurring financial income | 75 | €13,034 | €30,949 | +€17,915 | +137.4% |
| Non-recurring financial income | 76B | €627 | €158 | -€468 | -74.7% |
| Financial charges | 65/66B | €11,497 | €14,425 | +€2,928 | +25.5% |
| Recurring financial charges | 65 | €11,497 | €14,425 | +€2,928 | +25.5% |
| Profit (loss) for the period before taxes | 9903 | €1,509 | €95,718 | +€94,209 | +6243.4% |
| Income taxes | 67/77 | €2,348 | €30,897 | +€28,550 | +1216.1% |
| Profit (loss) for the period | 9904 | -€839 | €64,821 | +€65,659 | |
| Profit (loss) for the period to be appropriated | 9905 | -€839 | €64,821 | +€65,659 |
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 9 October 2026 via checked.be.