S.M. ALAN: 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.
S.M. ALAN
Largest movements
- Cash +€6,729
up €6,729 (+137.8%), from €4,883 to €11,611
mainly Net result for the year (+€10,671) and Trade debts (+€5,394)
- Receivables within one year -€5,384
down €5,384 (-77.2%), from €6,978 to €1,594
- Tangible fixed assets -€4,871
down €4,871 (-4.5%), from €108,333 to €103,463
- Debts after one year -€13,807
down €13,807 (-27.2%), from €50,838 to €37,030
- Profit (loss) carried forward +€10,671
up €10,671 (+109.8%), from €9,722 to €20,393
- Other debts -€6,105
down €6,105 (-20.7%), from €29,478 to €23,373
- Trade debts +€5,394
new in 2025: €5,394
- Gross operating margin -€18,548
down €18,548 (-41.3%), from €44,890 to €26,342
- Other operating charges -€16,898
down €16,898 (-77.5%), from €21,815 to €4,917
- Purchases and services +€10,611
up €10,611 (+7.0%), from €150,968 to €161,579
- Turnover -€7,937
down €7,937 (-4.1%), from €195,859 to €187,922
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 | €122,744 | €118,598 | -€4,146 | -3.4% |
| Fixed assets | 21/28 | €108,333 | €103,463 | -€4,871 | -4.5% |
| Tangible fixed assets | 22/27 | €108,333 | €103,463 | -€4,871 | -4.5% |
| Land and buildings | 22 | €108,333 | €103,463 | -€4,871 | -4.5% |
| Current assets | 29/58 | €14,411 | €15,135 | +€725 | +5.0% |
| Stocks and contracts in progress | 3 | €2,550 | €1,930 | -€620 | -24.3% |
| Stocks | 30/36 | €2,550 | €1,930 | -€620 | -24.3% |
| Amounts receivable within one year | 40/41 | €6,978 | €1,594 | -€5,384 | -77.2% |
| Other amounts receivable | 41 | €6,978 | €1,594 | -€5,384 | -77.2% |
| Cash at bank and in hand | 54/58 | €4,883 | €11,611 | +€6,729 | +137.8% |
| Total equity and liabilities | 10/49 | €122,744 | €118,598 | -€4,146 | -3.4% |
| Equity | 10/15 | €28,322 | €38,993 | +€10,671 | +37.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €9,722 | €20,393 | +€10,671 | +109.8% |
| Amounts payable | 17/49 | €94,422 | €79,605 | -€14,817 | -15.7% |
| Amounts payable after more than one year | 17 | €50,838 | €37,030 | -€13,807 | -27.2% |
| Financial debts | 170/4 | €50,838 | €37,030 | -€13,807 | -27.2% |
| Amounts payable within one year | 42/48 | €43,584 | €42,575 | -€1,009 | -2.3% |
| Current portion of amounts payable after more than one year | 42 | €12,996 | €13,807 | +€811 | +6.2% |
| Trade debts | 44 | - | €5,394 | +€5,394 | |
| Suppliers | 440/4 | - | €5,394 | +€5,394 | |
| Taxes, remuneration and social security | 45 | €1,109 | - | -€1,109 | |
| Taxes | 450/3 | €1,109 | - | -€1,109 | |
| Other amounts payable | 47/48 | €29,478 | €23,373 | -€6,105 | -20.7% |
| Turnover | 70 | €195,859 | €187,922 | -€7,937 | -4.1% |
| Goods, raw materials, services and sundry goods | 60/61 | €150,968 | €161,579 | +€10,611 | +7.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,871 | €4,871 | = | 0.0% |
| Other operating charges | 640/8 | €21,815 | €4,917 | -€16,898 | -77.5% |
| Non-recurring operating charges | 66A | €121 | - | -€121 | |
| Gross operating margin | 9900 | €44,890 | €26,342 | -€18,548 | -41.3% |
| Operating profit (loss) | 9901 | €18,083 | €16,555 | -€1,529 | -8.5% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €4,308 | €3,593 | -€715 | -16.6% |
| Recurring financial charges | 65 | €4,308 | €3,593 | -€715 | -16.6% |
| Profit (loss) for the period before taxes | 9903 | €13,776 | €12,962 | -€814 | -5.9% |
| Transfer to deferred taxes | 680 | - | €2,291 | +€2,291 | |
| Profit (loss) for the period | 9904 | €13,776 | €10,671 | -€3,105 | -22.5% |
| Profit (loss) for the period to be appropriated | 9905 | €13,776 | €10,671 | -€3,105 | -22.5% |
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 12 October 2026 via checked.be.