Nicolas ALAIMO: 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.
Nicolas ALAIMO
Largest movements
- Current investments +€73,732
up €73,732 (+245%), from €30,153 to €103,884
- Cash -€33,141
down €33,141 (-13.9%), from €237,903 to €204,762
mainly Contributions, distributions and other (-€100,000) and Current investments (-€73,732)
- Receivables after one year -€16,883
down €16,883 (-14.2%), from €118,907 to €102,025
- Other debts +€50,045
up €50,045 (+27.6%), from €181,284 to €231,329
- Reserves -€19,050
down €19,050 (-10.5%), from €181,705 to €162,655
of which Tax-exempt reserves: -€21,050
- Trade debts -€19,031
down €19,031 (-36.5%), from €52,160 to €33,130
- Tax, wage and social debts +€11,476
up €11,476 (+409%), from €2,806 to €14,282
- Gross operating margin -€11,039
down €11,039 (-8.8%), from €125,416 to €114,377
- Taxes +€4,312
up €4,312 (+16.3%), from €26,458 to €30,770
- Financial income +€1,852
up €1,852 (+156%), from €1,191 to €3,043
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 | €437,821 | €460,771 | +€22,950 | +5.2% |
| Fixed assets | 21/28 | €37,080 | €33,021 | -€4,060 | -10.9% |
| Tangible fixed assets | 22/27 | €13,080 | €9,021 | -€4,060 | -31.0% |
| Furniture and vehicles | 24 | €13,080 | €9,021 | -€4,060 | -31.0% |
| Financial fixed assets | 28 | €24,000 | €24,000 | = | 0.0% |
| Current assets | 29/58 | €400,740 | €427,750 | +€27,010 | +6.7% |
| Amounts receivable after more than one year | 29 | €118,907 | €102,025 | -€16,883 | -14.2% |
| Other amounts receivable | 291 | €118,907 | €102,025 | -€16,883 | -14.2% |
| Amounts receivable within one year | 40/41 | €12,739 | €15,697 | +€2,958 | +23.2% |
| Trade receivables | 40 | €156 | €13,773 | +€13,616 | +8,703% |
| Other amounts receivable | 41 | €12,583 | €1,924 | -€10,659 | -84.7% |
| Current investments | 50/53 | €30,153 | €103,884 | +€73,732 | +245% |
| Cash at bank and in hand | 54/58 | €237,903 | €204,762 | -€33,141 | -13.9% |
| Deferred charges and accrued income | 490/1 | €1,038 | €1,382 | +€344 | +33.2% |
| Total equity and liabilities | 10/49 | €437,821 | €460,771 | +€22,950 | +5.2% |
| Equity | 10/15 | €201,570 | €182,030 | -€19,540 | -9.7% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €181,705 | €162,655 | -€19,050 | -10.5% |
| Tax-exempt reserves | 132 | €21,050 | €0 | -€21,050 | -100% |
| Distributable reserves | 133 | €160,655 | €162,655 | +€2,000 | +1.2% |
| Profit (loss) carried forward | 14 | €1,315 | €825 | -€490 | -37.3% |
| Amounts payable | 17/49 | €236,251 | €278,741 | +€42,490 | +18.0% |
| Amounts payable within one year | 42/48 | €236,251 | €278,741 | +€42,490 | +18.0% |
| Trade debts | 44 | €52,160 | €33,130 | -€19,031 | -36.5% |
| Suppliers | 440/4 | €52,160 | €33,130 | -€19,031 | -36.5% |
| Taxes, remuneration and social security | 45 | €2,806 | €14,282 | +€11,476 | +409% |
| Taxes | 450/3 | €2,806 | €14,282 | +€11,476 | +409% |
| Other amounts payable | 47/48 | €181,284 | €231,329 | +€50,045 | +27.6% |
| Remuneration, social security and pensions | 62 | -€96 | €0 | +€96 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,239 | €4,060 | +€821 | +25.4% |
| Other operating charges | 640/8 | €372 | €1,276 | +€904 | +243% |
| Gross operating margin | 9900 | €125,416 | €114,377 | -€11,039 | -8.8% |
| Operating profit (loss) | 9901 | €121,901 | €109,041 | -€12,860 | -10.5% |
| Financial income | 75/76B | €1,191 | €3,043 | +€1,852 | +156% |
| Recurring financial income | 75 | €1,191 | €3,043 | +€1,852 | +156% |
| Financial charges | 65/66B | €830 | €855 | +€25 | +3.0% |
| Recurring financial charges | 65 | €830 | €855 | +€25 | +3.0% |
| Profit (loss) for the period before taxes | 9903 | €122,262 | €111,230 | -€11,032 | -9.0% |
| Income taxes | 67/77 | €26,458 | €30,770 | +€4,312 | +16.3% |
| Profit (loss) for the period | 9904 | €95,804 | €80,460 | -€15,345 | -16.0% |
| Transfer from tax-exempt reserves | 789 | - | €21,050 | +€21,050 | |
| Profit (loss) for the period to be appropriated | 9905 | €95,804 | €101,510 | +€5,705 | +6.0% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.