"ALEPHAR": 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.
"ALEPHAR"
Largest movements
- Cash +€128,868
up €128,868 (+931.1%), from €13,841 to €142,709
mainly Net result for the year (+€112,231) and Receivables within one year (+€14,211)
- Receivables within one year -€14,211
down €14,211 (-17.3%), from €82,037 to €67,826
of which Other amounts receivable: -€10,735
- Profit (loss) carried forward +€112,231
up €112,231 (+1000.1%), from €11,222 to €123,453
- Gross operating margin +€137,778
up €137,778 (+2554.4%), from €5,394 to €143,172
- Taxes +€30,306
up €30,306 (+2724.1%), from €1,112 to €31,418
- Financial income +€1,644
up €1,644 (+83.4%), from €1,973 to €3,617
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 | €100,322 | €214,003 | +€113,680 | +113.3% |
| Fixed assets | 21/28 | €4,445 | €3,408 | -€1,037 | -23.3% |
| Tangible fixed assets | 22/27 | €4,045 | €3,008 | -€1,037 | -25.6% |
| Furniture and vehicles | 24 | €4,045 | €3,008 | -€1,037 | -25.6% |
| Financial fixed assets | 28 | €400 | €400 | = | 0.0% |
| Current assets | 29/58 | €95,878 | €210,595 | +€114,718 | +119.7% |
| Amounts receivable within one year | 40/41 | €82,037 | €67,826 | -€14,211 | -17.3% |
| Trade receivables | 40 | €9,725 | €6,250 | -€3,475 | -35.7% |
| Other amounts receivable | 41 | €72,311 | €61,576 | -€10,735 | -14.8% |
| Cash at bank and in hand | 54/58 | €13,841 | €142,709 | +€128,868 | +931.1% |
| Deferred charges and accrued income | 490/1 | - | €60 | +€60 | |
| Total equity and liabilities | 10/49 | €100,322 | €214,003 | +€113,680 | +113.3% |
| Equity | 10/15 | €13,222 | €125,453 | +€112,231 | +848.8% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €11,222 | €123,453 | +€112,231 | +1000.1% |
| Amounts payable | 17/49 | €87,100 | €88,550 | +€1,450 | +1.7% |
| Amounts payable within one year | 42/48 | €87,100 | €88,550 | +€1,450 | +1.7% |
| Trade debts | 44 | €1,618 | €1,430 | -€188 | -11.6% |
| Suppliers | 440/4 | €1,618 | €1,430 | -€188 | -11.6% |
| Taxes, remuneration and social security | 45 | €3,433 | €5,054 | +€1,621 | +47.2% |
| Taxes | 450/3 | €3,433 | €5,054 | +€1,621 | +47.2% |
| Other amounts payable | 47/48 | €82,049 | €82,066 | +€17 | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €994 | €1,037 | +€43 | +4.3% |
| Other operating charges | 640/8 | €0 | - | -€0 | |
| Gross operating margin | 9900 | €5,394 | €143,172 | +€137,778 | +2554.4% |
| Operating profit (loss) | 9901 | €4,399 | €142,134 | +€137,735 | +3131.0% |
| Financial income | 75/76B | €1,973 | €3,617 | +€1,644 | +83.4% |
| Recurring financial income | 75 | €1,973 | €3,617 | +€1,644 | +83.4% |
| Financial charges | 65/66B | €2,639 | €2,102 | -€536 | -20.3% |
| Recurring financial charges | 65 | €2,639 | €2,102 | -€536 | -20.3% |
| Profit (loss) for the period before taxes | 9903 | €3,733 | €143,649 | +€139,916 | +3747.7% |
| Income taxes | 67/77 | €1,112 | €31,418 | +€30,306 | +2724.1% |
| Profit (loss) for the period | 9904 | €2,621 | €112,231 | +€109,610 | +4182.2% |
| Profit (loss) for the period to be appropriated | 9905 | €2,621 | €112,231 | +€109,610 | +4182.2% |
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 3 October 2026 via checked.be.