ALCAM: 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.
ALCAM
Largest movements
- Current investments -€45,128
down €45,128 (-68.7%), from €65,680 to €20,553
- Cash -€6,679
down €6,679 (-64.6%), from €10,346 to €3,667
mainly Net result for the year (-€50,302) and Stocks and contracts (-€4,339)
- Stocks and contracts +€4,339
up €4,339 (+139%), from €3,131 to €7,469
- Tangible fixed assets -€1,974
down €1,974 (-5.2%), from €37,949 to €35,975
of which Other tangible fixed assets: -€1,749
- Profit (loss) carried forward -€50,302
down €50,302 (-13.6%), from -€371,170 to -€421,472
- Gross operating margin -€17,938
down €17,938 (-60.9%), from -€29,439 to -€47,377
- Depreciation -€5,940
down €5,940 (-75.1%), from €7,914 to €1,974
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 | €143,750 | €94,272 | -€49,478 | -34.4% |
| Fixed assets | 21/28 | €39,709 | €37,735 | -€1,974 | -5.0% |
| Tangible fixed assets | 22/27 | €37,949 | €35,975 | -€1,974 | -5.2% |
| Plant, machinery and equipment | 23 | €33,500 | €33,500 | = | 0.0% |
| Furniture and vehicles | 24 | €2,250 | €2,025 | -€225 | -10.0% |
| Other tangible fixed assets | 26 | €2,199 | €450 | -€1,749 | -79.5% |
| Financial fixed assets | 28 | €1,761 | €1,761 | = | 0.0% |
| Current assets | 29/58 | €104,040 | €56,537 | -€47,504 | -45.7% |
| Stocks and contracts in progress | 3 | €3,131 | €7,469 | +€4,339 | +139% |
| Stocks | 30/36 | €3,131 | €7,469 | +€4,339 | +139% |
| Amounts receivable within one year | 40/41 | €24,884 | €24,773 | -€111 | -0.4% |
| Trade receivables | 40 | €23,460 | €23,460 | = | 0.0% |
| Other amounts receivable | 41 | €1,424 | €1,313 | -€111 | -7.8% |
| Current investments | 50/53 | €65,680 | €20,553 | -€45,128 | -68.7% |
| Cash at bank and in hand | 54/58 | €10,346 | €3,667 | -€6,679 | -64.6% |
| Deferred charges and accrued income | 490/1 | - | €75 | +€75 | |
| Total equity and liabilities | 10/49 | €143,750 | €94,272 | -€49,478 | -34.4% |
| Equity | 10/15 | -€141,843 | -€192,145 | -€50,302 | -35.5% |
| Contributions | 10/11 | €206,000 | €206,000 | = | 0.0% |
| Capital | 10 | €206,000 | €206,000 | = | 0.0% |
| Issued capital | 100 | €206,000 | €206,000 | = | 0.0% |
| Reserves | 13 | €23,326 | €23,326 | = | 0.0% |
| Non-distributable reserves | 130/1 | €20,600 | €20,600 | = | 0.0% |
| Legal reserve | 130 | €20,600 | €20,600 | = | 0.0% |
| Distributable reserves | 133 | €2,726 | €2,726 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€371,170 | -€421,472 | -€50,302 | -13.6% |
| Amounts payable | 17/49 | €285,593 | €286,417 | +€824 | +0.3% |
| Amounts payable within one year | 42/48 | €285,593 | €286,417 | +€824 | +0.3% |
| Trade debts | 44 | €959 | €1,991 | +€1,032 | +108% |
| Suppliers | 440/4 | €959 | €1,991 | +€1,032 | +108% |
| Other amounts payable | 47/48 | €284,634 | €284,426 | -€208 | -0.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,914 | €1,974 | -€5,940 | -75.1% |
| Other operating charges | 640/8 | €505 | €520 | +€14 | +2.8% |
| Gross operating margin | 9900 | -€29,439 | -€47,377 | -€17,938 | -60.9% |
| Operating profit (loss) | 9901 | -€37,859 | -€49,871 | -€12,013 | -31.7% |
| Financial income | 75/76B | €558 | €300 | -€258 | -46.3% |
| Recurring financial income | 75 | €558 | €300 | -€258 | -46.3% |
| Financial charges | 65/66B | €639 | €731 | +€92 | +14.3% |
| Recurring financial charges | 65 | €639 | €731 | +€92 | +14.3% |
| Profit (loss) for the period before taxes | 9903 | -€37,939 | -€50,302 | -€12,362 | -32.6% |
| Income taxes | 67/77 | €41 | - | -€41 | |
| Profit (loss) for the period | 9904 | -€37,980 | -€50,302 | -€12,322 | -32.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€37,980 | -€50,302 | -€12,322 | -32.4% |
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 18 October 2026 via checked.be.