RED ALLIGATOR: 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.
RED ALLIGATOR
Largest movements
- Stocks and contracts -€15,939
down €15,939 (-28.6%), from €55,771 to €39,832
- Tangible fixed assets -€7,530
down €7,530 (-21.7%), from €34,722 to €27,192
- Reserves -€73,500
down €73,500 (-94.8%), from €77,500 to €4,000
- Other debts +€70,544
up €70,544 (+310%), from €22,785 to €93,329
- Profit (loss) carried forward -€27,415
down €27,415, from €7,435 to -€19,980
- Tax, wage and social debts +€10,608
up €10,608 (+222%), from €4,781 to €15,389
- Debts after one year -€6,363
down €6,363 (-22.1%), from €28,752 to €22,389
- Gross operating margin -€29,418
down €29,418, from €14,411 to -€15,006
- Depreciation +€5,386
up €5,386 (+251%), from €2,144 to €7,530
- Other operating charges -€3,189
down €3,189 (-73.1%), from €4,364 to €1,175
- Financial charges +€2,214
up €2,214 (+212%), from €1,046 to €3,260
- Taxes -€2,111
down €2,111 (-82.5%), from €2,559 to €448
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 | €211,952 | €185,772 | -€26,180 | -12.4% |
| Fixed assets | 21/28 | €34,893 | €27,363 | -€7,530 | -21.6% |
| Tangible fixed assets | 22/27 | €34,722 | €27,192 | -€7,530 | -21.7% |
| Furniture and vehicles | 24 | €34,722 | €27,192 | -€7,530 | -21.7% |
| Financial fixed assets | 28 | €171 | €171 | = | 0.0% |
| Current assets | 29/58 | €177,059 | €158,409 | -€18,649 | -10.5% |
| Stocks and contracts in progress | 3 | €55,771 | €39,832 | -€15,939 | -28.6% |
| Stocks | 30/36 | €55,771 | €39,832 | -€15,939 | -28.6% |
| Amounts receivable within one year | 40/41 | €10,503 | €10,154 | -€349 | -3.3% |
| Trade receivables | 40 | €10,503 | €10,154 | -€349 | -3.3% |
| Current investments | 50/53 | €52,602 | €51,950 | -€652 | -1.2% |
| Cash at bank and in hand | 54/58 | €55,493 | €54,315 | -€1,178 | -2.1% |
| Deferred charges and accrued income | 490/1 | €2,690 | €2,159 | -€531 | -19.8% |
| Total equity and liabilities | 10/49 | €211,952 | €185,772 | -€26,180 | -12.4% |
| Equity | 10/15 | €117,935 | €17,020 | -€100,915 | -85.6% |
| Contributions | 10/11 | €33,000 | €33,000 | = | 0.0% |
| Reserves | 13 | €77,500 | €4,000 | -€73,500 | -94.8% |
| Distributable reserves | 133 | €77,500 | €4,000 | -€73,500 | -94.8% |
| Profit (loss) carried forward | 14 | €7,435 | -€19,980 | -€27,415 | |
| Amounts payable | 17/49 | €94,017 | €168,752 | +€74,735 | +79.5% |
| Amounts payable after more than one year | 17 | €28,752 | €22,389 | -€6,363 | -22.1% |
| Financial debts | 170/4 | €28,752 | €22,389 | -€6,363 | -22.1% |
| Amounts payable within one year | 42/48 | €65,265 | €146,363 | +€81,098 | +124% |
| Current portion of amounts payable after more than one year | 42 | €9,724 | €6,363 | -€3,361 | -34.6% |
| Trade debts | 44 | €27,975 | €31,282 | +€3,307 | +11.8% |
| Suppliers | 440/4 | €27,975 | €31,282 | +€3,307 | +11.8% |
| Taxes, remuneration and social security | 45 | €4,781 | €15,389 | +€10,608 | +222% |
| Taxes | 450/3 | €4,781 | €15,389 | +€10,608 | +222% |
| Other amounts payable | 47/48 | €22,785 | €93,329 | +€70,544 | +310% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,144 | €7,530 | +€5,386 | +251% |
| Other operating charges | 640/8 | €4,364 | €1,175 | -€3,189 | -73.1% |
| Gross operating margin | 9900 | €14,411 | -€15,006 | -€29,418 | |
| Operating profit (loss) | 9901 | €7,903 | -€23,712 | -€31,615 | |
| Financial income | 75/76B | €22 | €5 | -€17 | -77.0% |
| Recurring financial income | 75 | €22 | €5 | -€17 | -77.0% |
| Financial charges | 65/66B | €1,046 | €3,260 | +€2,214 | +212% |
| Recurring financial charges | 65 | €1,046 | €3,260 | +€2,214 | +212% |
| Profit (loss) for the period before taxes | 9903 | €6,880 | -€26,967 | -€33,846 | |
| Income taxes | 67/77 | €2,559 | €448 | -€2,111 | -82.5% |
| Profit (loss) for the period | 9904 | €4,321 | -€27,415 | -€31,736 | |
| Profit (loss) for the period to be appropriated | 9905 | €4,321 | -€27,415 | -€31,736 |
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 22 October 2026 via checked.be.