ALBEPA: 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.
ALBEPA
Largest movements
- Tangible fixed assets +€128,282
up €128,282 (+32.5%), from €394,188 to €522,470
of which Land and buildings: +€144,630
- Cash -€48,496
down €48,496 (-96.2%), from €50,431 to €1,935
mainly Investment in fixed assets (net) (-€142,706) and Debts after one year (-€12,740)
- Receivables within one year -€14,500
down €14,500 (-4.1%), from €354,664 to €340,164
of which Other amounts receivable: -€14,500
- Other debts +€58,044
up €58,044 (+114%), from €51,126 to €109,169
- Profit (loss) carried forward +€21,478
up €21,478 (+45.5%), from €47,211 to €68,689
- Debts after one year -€12,740
down €12,740 (-5.4%), from €235,917 to €223,177
- Gross operating margin +€23,509
up €23,509 (+117%), from €20,140 to €43,649
- Depreciation +€3,109
up €3,109 (+27.5%), from €11,315 to €14,424
- Financial charges -€1,607
down €1,607 (-26.1%), from €6,151 to €4,544
- Other operating charges +€528
up €528 (+34.2%), from €1,545 to €2,072
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 | €799,526 | €866,739 | +€67,213 | +8.4% |
| Fixed assets | 21/28 | €394,188 | €522,470 | +€128,282 | +32.5% |
| Tangible fixed assets | 22/27 | €394,188 | €522,470 | +€128,282 | +32.5% |
| Land and buildings | 22 | €362,215 | €506,845 | +€144,630 | +39.9% |
| Plant, machinery and equipment | 23 | €31,056 | €15,017 | -€16,040 | -51.6% |
| Furniture and vehicles | 24 | €917 | €608 | -€308 | -33.6% |
| Current assets | 29/58 | €405,338 | €344,269 | -€61,069 | -15.1% |
| Amounts receivable within one year | 40/41 | €354,664 | €340,164 | -€14,500 | -4.1% |
| Trade receivables | 40 | €79,705 | €79,705 | = | 0.0% |
| Other amounts receivable | 41 | €274,959 | €260,459 | -€14,500 | -5.3% |
| Cash at bank and in hand | 54/58 | €50,431 | €1,935 | -€48,496 | -96.2% |
| Deferred charges and accrued income | 490/1 | €243 | €2,170 | +€1,927 | +793% |
| Total equity and liabilities | 10/49 | €799,526 | €866,739 | +€67,213 | +8.4% |
| Equity | 10/15 | €498,795 | €521,403 | +€22,609 | +4.5% |
| Contributions | 10/11 | €446,208 | €446,208 | = | 0.0% |
| Capital | 10 | €446,208 | €446,208 | = | 0.0% |
| Issued capital | 100 | €446,208 | €446,208 | = | 0.0% |
| Reserves | 13 | €5,375 | €6,506 | +€1,130 | +21.0% |
| Non-distributable reserves | 130/1 | €5,375 | €6,506 | +€1,130 | +21.0% |
| Legal reserve | 130 | €5,375 | €6,506 | +€1,130 | +21.0% |
| Profit (loss) carried forward | 14 | €47,211 | €68,689 | +€21,478 | +45.5% |
| Amounts payable | 17/49 | €300,731 | €345,336 | +€44,605 | +14.8% |
| Amounts payable after more than one year | 17 | €235,917 | €223,177 | -€12,740 | -5.4% |
| Financial debts | 170/4 | €235,917 | €223,177 | -€12,740 | -5.4% |
| Amounts payable within one year | 42/48 | €63,723 | €122,159 | +€58,435 | +91.7% |
| Current portion of amounts payable after more than one year | 42 | €11,160 | €12,740 | +€1,579 | +14.2% |
| Trade debts | 44 | €1,438 | €250 | -€1,188 | -82.6% |
| Suppliers | 440/4 | €1,438 | €250 | -€1,188 | -82.6% |
| Other amounts payable | 47/48 | €51,126 | €109,169 | +€58,044 | +114% |
| Accrued charges and deferred income | 492/3 | €1,091 | - | -€1,091 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,315 | €14,424 | +€3,109 | +27.5% |
| Other operating charges | 640/8 | €1,545 | €2,072 | +€528 | +34.2% |
| Gross operating margin | 9900 | €20,140 | €43,649 | +€23,509 | +117% |
| Operating profit (loss) | 9901 | €7,280 | €27,152 | +€19,872 | +273% |
| Financial charges | 65/66B | €6,151 | €4,544 | -€1,607 | -26.1% |
| Recurring financial charges | 65 | €6,151 | €4,544 | -€1,607 | -26.1% |
| Profit (loss) for the period before taxes | 9903 | €1,130 | €22,609 | +€21,479 | +1,902% |
| Profit (loss) for the period | 9904 | €1,130 | €22,609 | +€21,479 | +1,902% |
| Profit (loss) for the period to be appropriated | 9905 | €1,130 | €22,609 | +€21,479 | +1,902% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.