ALEFA: 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.
ALEFA
Largest movements
- Receivables within one year +€35,675
up €35,675 (+142%), from €25,073 to €60,748
of which Trade receivables: +€34,394
- Cash +€21,801
up €21,801 (+16.5%), from €132,454 to €154,255
mainly Net result for the year (+€53,022) and Depreciation (+€5,525)
- Tangible fixed assets -€3,825
down €3,825 (-58.5%), from €6,536 to €2,711
- Profit (loss) carried forward +€53,022
up €53,022 (+36.8%), from €144,189 to €197,211
- Gross operating margin +€14,540
up €14,540 (+24.5%), from €59,454 to €73,994
- Taxes +€2,227
up €2,227 (+18.8%), from €11,821 to €14,048
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 | €164,667 | €217,714 | +€53,046 | +32.2% |
| Fixed assets | 21/28 | €6,536 | €2,711 | -€3,825 | -58.5% |
| Tangible fixed assets | 22/27 | €6,536 | €2,711 | -€3,825 | -58.5% |
| Furniture and vehicles | 24 | €6,536 | €2,711 | -€3,825 | -58.5% |
| Current assets | 29/58 | €158,132 | €215,003 | +€56,871 | +36.0% |
| Amounts receivable within one year | 40/41 | €25,073 | €60,748 | +€35,675 | +142% |
| Trade receivables | 40 | €24,395 | €58,789 | +€34,394 | +141% |
| Other amounts receivable | 41 | €678 | €1,959 | +€1,281 | +189% |
| Cash at bank and in hand | 54/58 | €132,454 | €154,255 | +€21,801 | +16.5% |
| Deferred charges and accrued income | 490/1 | €605 | - | -€605 | |
| Total equity and liabilities | 10/49 | €164,667 | €217,714 | +€53,046 | +32.2% |
| Equity | 10/15 | €148,189 | €201,211 | +€53,022 | +35.8% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €144,189 | €197,211 | +€53,022 | +36.8% |
| Amounts payable | 17/49 | €16,478 | €16,503 | +€25 | +0.2% |
| Amounts payable within one year | 42/48 | €16,478 | €16,503 | +€25 | +0.2% |
| Trade debts | 44 | €1,526 | €1,266 | -€261 | -17.1% |
| Suppliers | 440/4 | €1,526 | €1,266 | -€261 | -17.1% |
| Taxes, remuneration and social security | 45 | €14,952 | €14,995 | +€43 | +0.3% |
| Taxes | 450/3 | €14,952 | €14,995 | +€43 | +0.3% |
| Other amounts payable | 47/48 | - | €242 | +€242 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,280 | €5,525 | +€245 | +4.6% |
| Other operating charges | 640/8 | €906 | €1,373 | +€467 | +51.5% |
| Gross operating margin | 9900 | €59,454 | €73,994 | +€14,540 | +24.5% |
| Operating profit (loss) | 9901 | €53,268 | €67,096 | +€13,828 | +26.0% |
| Financial income | 75/76B | €180 | €2 | -€178 | -98.6% |
| Recurring financial income | 75 | €180 | €2 | -€178 | -98.6% |
| Financial charges | 65/66B | €41 | €29 | -€12 | -28.9% |
| Recurring financial charges | 65 | €41 | €29 | -€12 | -28.9% |
| Profit (loss) for the period before taxes | 9903 | €53,407 | €67,069 | +€13,663 | +25.6% |
| Income taxes | 67/77 | €11,821 | €14,048 | +€2,227 | +18.8% |
| Profit (loss) for the period | 9904 | €41,586 | €53,022 | +€11,436 | +27.5% |
| Profit (loss) for the period to be appropriated | 9905 | €41,586 | €53,022 | +€11,436 | +27.5% |
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 1 November 2026 via checked.be.