AL.F.A.: what changed
AL.F.A.
Largest movements
- Receivables within one year +€65,065
up €65,065 (+242%), from €26,922 to €91,986
- Cash +€21,439
up €21,439 (+52.1%), from €41,170 to €62,608
mainly Other debts (+€58,932) and Advances received (+€31,497)
- Stocks and contracts -€4,845
down €4,845 (-6.8%), from €71,083 to €66,238
- Other debts +€58,932
up €58,932 (+1,664%), from €3,541 to €62,472
- Advances received +€31,497
up €31,497 (+175%), from €18,020 to €49,517
- Profit (loss) carried forward -€21,823
down €21,823 (-78.5%), from €27,815 to €5,992
- Trade debts +€10,628
up €10,628 (+101%), from €10,520 to €21,148
- Tax, wage and social debts +€10,234
up €10,234 (+134%), from €7,625 to €17,860
of which Taxes: +€10,234
- Gross operating margin +€13,679
up €13,679 (+54.0%), from €25,309 to €38,988
- Financial charges +€5,242
up €5,242, from -€2,046 to €3,196
- Taxes +€2,343
up €2,343 (+35.0%), from €6,695 to €9,038
- Other operating charges +€610
up €610 (+76.9%), from €793 to €1,404
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €147,021 | €226,489 | +€79,469 | +54.1% |
| Fixed assets | 21/28 | €7,847 | €5,657 | -€2,190 | -27.9% |
| Tangible fixed assets | 22/27 | €7,847 | €5,657 | -€2,190 | -27.9% |
| Furniture and vehicles | 24 | €7,847 | €5,657 | -€2,190 | -27.9% |
| Current assets | 29/58 | €139,174 | €220,833 | +€81,659 | +58.7% |
| Stocks and contracts in progress | 3 | €71,083 | €66,238 | -€4,845 | -6.8% |
| Stocks | 30/36 | €71,083 | €66,238 | -€4,845 | -6.8% |
| Amounts receivable within one year | 40/41 | €26,922 | €91,986 | +€65,065 | +242% |
| Trade receivables | 40 | €26,922 | €91,986 | +€65,065 | +242% |
| Cash at bank and in hand | 54/58 | €41,170 | €62,608 | +€21,439 | +52.1% |
| Total equity and liabilities | 10/49 | €147,021 | €226,489 | +€79,469 | +54.1% |
| Equity | 10/15 | €52,815 | €30,992 | -€21,823 | -41.3% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €27,815 | €5,992 | -€21,823 | -78.5% |
| Amounts payable | 17/49 | €94,206 | €195,497 | +€101,291 | +108% |
| Amounts payable after more than one year | 17 | €54,500 | €44,500 | -€10,000 | -18.3% |
| Other amounts payable | 178/9 | €54,500 | €44,500 | -€10,000 | -18.3% |
| Amounts payable within one year | 42/48 | €39,706 | €150,997 | +€111,291 | +280% |
| Trade debts | 44 | €10,520 | €21,148 | +€10,628 | +101% |
| Suppliers | 440/4 | €10,520 | €21,148 | +€10,628 | +101% |
| Advances received on contracts in progress | 46 | €18,020 | €49,517 | +€31,497 | +175% |
| Taxes, remuneration and social security | 45 | €7,625 | €17,860 | +€10,234 | +134% |
| Taxes | 450/3 | €6,775 | €17,010 | +€10,234 | +151% |
| Remuneration and social security | 454/9 | €850 | €850 | = | 0.0% |
| Other amounts payable | 47/48 | €3,541 | €62,472 | +€58,932 | +1,664% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,190 | €2,190 | = | 0.0% |
| Other operating charges | 640/8 | €793 | €1,404 | +€610 | +76.9% |
| Gross operating margin | 9900 | €25,309 | €38,988 | +€13,679 | +54.0% |
| Operating profit (loss) | 9901 | €22,326 | €35,395 | +€13,069 | +58.5% |
| Financial income | 75/76B | €38 | €16 | -€22 | -57.2% |
| Recurring financial income | 75 | €38 | €16 | -€22 | -57.2% |
| Financial charges | 65/66B | -€2,046 | €3,196 | +€5,242 | |
| Recurring financial charges | 65 | -€2,046 | €3,196 | +€5,242 | |
| Profit (loss) for the period before taxes | 9903 | €24,410 | €32,215 | +€7,805 | +32.0% |
| Income taxes | 67/77 | €6,695 | €9,038 | +€2,343 | +35.0% |
| Profit (loss) for the period | 9904 | €17,716 | €23,177 | +€5,462 | +30.8% |
| Profit (loss) for the period to be appropriated | 9905 | €17,716 | €23,177 | +€5,462 | +30.8% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.