Al-Fa Projects: 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.
Al-Fa Projects
Largest movements
- Receivables within one year -€6,886
down €6,886 (-79.4%), from €8,674 to €1,788
of which Trade receivables: -€6,503
- Cash -€6,802
down €6,802 (-89.0%), from €7,639 to €837
mainly Trade debts (-€5,273) and Net result for the year (-€3,811)
- Tangible fixed assets -€204
down €204 (-68.9%), from €297 to €92
- Trade debts -€5,273
down €5,273 (-98.8%), from €5,339 to €66
- Profit (loss) carried forward -€3,811
down €3,811 (-10.2%), from -€37,430 to -€41,241
- Other debts -€3,734
down €3,734 (-13.2%), from €28,234 to €24,501
- Tax, wage and social debts -€1,075
no longer reported in 2025 (was €1,075)
- Gross operating margin -€7,950
down €7,950, from €4,783 to -€3,166
- Taxes -€1,075
no longer reported in 2025 (was €1,075)
- Financial income +€82
new in 2025: €82
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 | €16,609 | €2,717 | -€13,892 | -83.6% |
| Fixed assets | 21/28 | €297 | €92 | -€204 | -68.9% |
| Tangible fixed assets | 22/27 | €297 | €92 | -€204 | -68.9% |
| Furniture and vehicles | 24 | €297 | €92 | -€204 | -68.9% |
| Current assets | 29/58 | €16,313 | €2,625 | -€13,688 | -83.9% |
| Amounts receivable within one year | 40/41 | €8,674 | €1,788 | -€6,886 | -79.4% |
| Trade receivables | 40 | €8,282 | €1,779 | -€6,503 | -78.5% |
| Other amounts receivable | 41 | €392 | €8 | -€384 | -97.8% |
| Cash at bank and in hand | 54/58 | €7,639 | €837 | -€6,802 | -89.0% |
| Total equity and liabilities | 10/49 | €16,609 | €2,717 | -€13,892 | -83.6% |
| Equity | 10/15 | -€18,038 | -€21,849 | -€3,811 | -21.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €792 | €792 | = | 0.0% |
| Non-distributable reserves | 130/1 | €792 | €792 | = | 0.0% |
| Reserves not available under the articles | 1311 | €792 | €792 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€37,430 | -€41,241 | -€3,811 | -10.2% |
| Amounts payable | 17/49 | €34,648 | €24,566 | -€10,082 | -29.1% |
| Amounts payable within one year | 42/48 | €34,648 | €24,566 | -€10,082 | -29.1% |
| Trade debts | 44 | €5,339 | €66 | -€5,273 | -98.8% |
| Suppliers | 440/4 | €5,339 | €66 | -€5,273 | -98.8% |
| Taxes, remuneration and social security | 45 | €1,075 | - | -€1,075 | |
| Taxes | 450/3 | €1,075 | - | -€1,075 | |
| Other amounts payable | 47/48 | €28,234 | €24,501 | -€3,734 | -13.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €229 | €204 | -€24 | -10.6% |
| Other operating charges | 640/8 | €276 | €273 | -€2 | -0.8% |
| Gross operating margin | 9900 | €4,783 | -€3,166 | -€7,950 | |
| Operating profit (loss) | 9901 | €4,279 | -€3,644 | -€7,923 | |
| Financial income | 75/76B | - | €82 | +€82 | |
| Recurring financial income | 75 | - | €82 | +€82 | |
| Financial charges | 65/66B | €252 | €249 | -€3 | -1.2% |
| Recurring financial charges | 65 | €252 | €249 | -€3 | -1.2% |
| Profit (loss) for the period before taxes | 9903 | €4,027 | -€3,811 | -€7,838 | |
| Income taxes | 67/77 | €1,075 | - | -€1,075 | |
| Profit (loss) for the period | 9904 | €2,952 | -€3,811 | -€6,763 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,952 | -€3,811 | -€6,763 |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.