ALAAF: 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.
ALAAF
Largest movements
- Tangible fixed assets -€97,199
down €97,199 (-8.3%), from €1.2m to €1.1m
of which Land and buildings: -€66,615
- Cash +€87,060
up €87,060 (+86.1%), from €101,168 to €188,229
mainly Depreciation (+€103,256) and Net result for the year (+€101,908)
- Receivables within one year +€85,032
up €85,032 (+53.0%), from €160,340 to €245,372
of which Other amounts receivable: +€85,032
- Receivables after one year -€30,000
down €30,000 (-4.5%), from €667,500 to €637,500
- Reserves +€101,908
up €101,908 (+16.9%), from €603,621 to €705,528
of which Distributable reserves: +€109,211
- Debts after one year -€47,255
down €47,255 (-11.7%), from €404,325 to €357,070
- Accrued charges and deferred income -€30,253
down €30,253 (-4.3%), from €700,362 to €670,109
- Tax, wage and social debts +€22,579
up €22,579 (+105%), from €21,423 to €44,002
- Gross operating margin +€82,884
up €82,884 (+47.7%), from €173,602 to €256,485
- Taxes +€22,606
up €22,606 (+124%), from €18,180 to €40,786
- Depreciation +€7,478
up €7,478 (+7.8%), from €95,778 to €103,256
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 | €2,132,010 | €2,177,258 | +€45,248 | +2.1% |
| Fixed assets | 21/28 | €1,176,291 | €1,079,092 | -€97,199 | -8.3% |
| Tangible fixed assets | 22/27 | €1,176,291 | €1,079,092 | -€97,199 | -8.3% |
| Land and buildings | 22 | €840,554 | €773,940 | -€66,615 | -7.9% |
| Plant, machinery and equipment | 23 | €6,438 | €4,793 | -€1,645 | -25.5% |
| Furniture and vehicles | 24 | €3,528 | €2,739 | -€789 | -22.4% |
| Other tangible fixed assets | 26 | €325,770 | €297,620 | -€28,150 | -8.6% |
| Current assets | 29/58 | €955,719 | €1,098,166 | +€142,447 | +14.9% |
| Amounts receivable after more than one year | 29 | €667,500 | €637,500 | -€30,000 | -4.5% |
| Trade receivables | 290 | €667,500 | €637,500 | -€30,000 | -4.5% |
| Amounts receivable within one year | 40/41 | €160,340 | €245,372 | +€85,032 | +53.0% |
| Trade receivables | 40 | €78,650 | €78,650 | = | 0.0% |
| Other amounts receivable | 41 | €81,690 | €166,722 | +€85,032 | +104% |
| Current investments | 50/53 | €22,267 | €22,267 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €101,168 | €188,229 | +€87,060 | +86.1% |
| Deferred charges and accrued income | 490/1 | €4,444 | €4,798 | +€354 | +8.0% |
| Total equity and liabilities | 10/49 | €2,132,010 | €2,177,258 | +€45,248 | +2.1% |
| Equity | 10/15 | €913,487 | €1,015,395 | +€101,908 | +11.2% |
| Contributions | 10/11 | €309,867 | €309,867 | = | 0.0% |
| Reserves | 13 | €603,621 | €705,528 | +€101,908 | +16.9% |
| Tax-exempt reserves | 132 | €78,132 | €70,829 | -€7,303 | -9.3% |
| Distributable reserves | 133 | €525,488 | €634,700 | +€109,211 | +20.8% |
| Provisions and deferred taxes | 16 | €40,250 | €36,488 | -€3,762 | -9.3% |
| Deferred taxes | 168 | €40,250 | €36,488 | -€3,762 | -9.3% |
| Amounts payable | 17/49 | €1,178,273 | €1,125,375 | -€52,898 | -4.5% |
| Amounts payable after more than one year | 17 | €404,325 | €357,070 | -€47,255 | -11.7% |
| Financial debts | 170/4 | €404,325 | €357,070 | -€47,255 | -11.7% |
| Amounts payable within one year | 42/48 | €73,586 | €98,196 | +€24,610 | +33.4% |
| Current portion of amounts payable after more than one year | 42 | €51,771 | €52,417 | +€646 | +1.2% |
| Trade debts | 44 | €392 | €1,777 | +€1,384 | +353% |
| Suppliers | 440/4 | €392 | €1,777 | +€1,384 | +353% |
| Taxes, remuneration and social security | 45 | €21,423 | €44,002 | +€22,579 | +105% |
| Taxes | 450/3 | €21,423 | €44,002 | +€22,579 | +105% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €700,362 | €670,109 | -€30,253 | -4.3% |
| Non-recurring operating income | 76A | €3,877 | €0 | -€3,877 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €95,778 | €103,256 | +€7,478 | +7.8% |
| Other operating charges | 640/8 | €9,560 | €9,231 | -€329 | -3.4% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €173,602 | €256,485 | +€82,884 | +47.7% |
| Operating profit (loss) | 9901 | €68,263 | €143,998 | +€75,735 | +111% |
| Financial income | 75/76B | €1,126 | €2,149 | +€1,023 | +90.8% |
| Recurring financial income | 75 | €1,126 | €2,149 | +€1,023 | +90.8% |
| Financial charges | 65/66B | €8,141 | €7,216 | -€925 | -11.4% |
| Recurring financial charges | 65 | €8,141 | €7,216 | -€925 | -11.4% |
| Profit (loss) for the period before taxes | 9903 | €61,249 | €138,931 | +€77,682 | +127% |
| Transfer from deferred taxes | 780 | €3,762 | €3,762 | = | 0.0% |
| Income taxes | 67/77 | €18,180 | €40,786 | +€22,606 | +124% |
| Profit (loss) for the period | 9904 | €46,832 | €101,908 | +€55,076 | +118% |
| Transfer from tax-exempt reserves | 789 | €7,303 | €7,303 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €54,135 | €109,211 | +€55,076 | +102% |
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 20 October 2026 via checked.be.