A'ALPS: what changed
Two fiscal 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.
A'ALPS
Largest movements
- Stocks and contracts +€5,380
up €5,380 (+35.7%), from €15,062 to €20,442
- Cash +€2,806
up €2,806 (+77.9%), from €3,600 to €6,406
mainly Tax, wage and social debts (+€6,909) and Trade debts (+€6,318)
- Tangible fixed assets +€978
new in 2025: €978
- Receivables within one year +€347
up €347 (+16.5%), from €2,104 to €2,451
of which Other amounts receivable: +€1,639
- Tax, wage and social debts +€6,909
up €6,909 (+265.9%), from €2,598 to €9,507
of which Remuneration and social security: +€6,250
- Trade debts +€6,318
up €6,318 (+274.6%), from €2,300 to €8,618
- Profit (loss) carried forward -€3,716
down €3,716 (-155.9%), from -€2,383 to -€6,098
- Staff costs +€7,222
up €7,222 (+35.2%), from €20,534 to €27,756
- Gross operating margin +€6,581
up €6,581 (+33.0%), from €19,960 to €26,541
- Other operating charges +€520
up €520 (+31.5%), from €1,651 to €2,170
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 | €23,976 | €33,487 | +€9,511 | +39.7% |
| Fixed assets | 21/28 | €3,210 | €4,188 | +€978 | +30.5% |
| Tangible fixed assets | 22/27 | - | €978 | +€978 | |
| Furniture and vehicles | 24 | - | €978 | +€978 | |
| Financial fixed assets | 28 | €3,210 | €3,210 | = | 0.0% |
| Current assets | 29/58 | €20,766 | €29,299 | +€8,533 | +41.1% |
| Stocks and contracts in progress | 3 | €15,062 | €20,442 | +€5,380 | +35.7% |
| Stocks | 30/36 | €15,062 | €20,442 | +€5,380 | +35.7% |
| Amounts receivable within one year | 40/41 | €2,104 | €2,451 | +€347 | +16.5% |
| Trade receivables | 40 | €1,292 | - | -€1,292 | |
| Other amounts receivable | 41 | €812 | €2,451 | +€1,639 | +201.7% |
| Cash at bank and in hand | 54/58 | €3,600 | €6,406 | +€2,806 | +77.9% |
| Total equity and liabilities | 10/49 | €23,976 | €33,487 | +€9,511 | +39.7% |
| Equity | 10/15 | €19,077 | €15,362 | -€3,716 | -19.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €2,860 | €2,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€2,383 | -€6,098 | -€3,716 | -155.9% |
| Amounts payable | 17/49 | €4,898 | €18,125 | +€13,226 | +270.0% |
| Amounts payable within one year | 42/48 | €4,898 | €18,125 | +€13,226 | +270.0% |
| Trade debts | 44 | €2,300 | €8,618 | +€6,318 | +274.6% |
| Suppliers | 440/4 | €2,300 | €8,618 | +€6,318 | +274.6% |
| Taxes, remuneration and social security | 45 | €2,598 | €9,507 | +€6,909 | +265.9% |
| Taxes | 450/3 | €909 | €1,568 | +€659 | +72.5% |
| Remuneration and social security | 454/9 | €1,689 | €7,938 | +€6,250 | +370.1% |
| Remuneration, social security and pensions | 62 | €20,534 | €27,756 | +€7,222 | +35.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €244 | +€244 | |
| Other operating charges | 640/8 | €1,651 | €2,170 | +€520 | +31.5% |
| Gross operating margin | 9900 | €19,960 | €26,541 | +€6,581 | +33.0% |
| Operating profit (loss) | 9901 | -€2,224 | -€3,630 | -€1,406 | -63.2% |
| Financial charges | 65/66B | €316 | €85 | -€231 | -73.0% |
| Recurring financial charges | 65 | €316 | €85 | -€231 | -73.0% |
| Profit (loss) for the period before taxes | 9903 | -€2,540 | -€3,716 | -€1,175 | -46.3% |
| Income taxes | 67/77 | €107 | - | -€107 | |
| Profit (loss) for the period | 9904 | -€2,647 | -€3,716 | -€1,068 | -40.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,647 | -€3,716 | -€1,068 | -40.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.