ALEXOFIN: 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.
ALEXOFIN
Largest movements
- Receivables within one year +€456,307
up €456,307 (+1,590%), from €28,702 to €485,010
of which Other amounts receivable: +€452,882
- Current investments -€248,280
down €248,280 (-100%), from €248,280 to €0
- Cash -€244,733
down €244,733 (-99.1%), from €247,004 to €2,272
mainly Receivables within one year (-€456,307) and Contributions, distributions and other (-€206,500)
- Deferred charges and accrued income -€26,479
down €26,479 (-94.4%), from €28,046 to €1,567
- Other debts +€207,090
up €207,090 (+55,267%), from €375 to €207,465
- Reserves -€204,640
down €204,640 (-15.2%), from €1.3m to €1.1m
of which Distributable reserves: -€204,640
- Profit (loss) carried forward -€50,714
down €50,714 (-22.1%), from -€229,269 to -€279,983
- Tax, wage and social debts -€15,438
down €15,438 (-97.5%), from €15,828 to €390
of which Taxes: -€9,469
- Financial income +€38,250
up €38,250 (+239%), from €16,002 to €54,252
- Gross operating margin -€7,728
down €7,728 (-10.5%), from -€73,588 to -€81,316
- Depreciation +€4,633
up €4,633 (+31.3%), from €14,824 to €19,456
- Financial charges -€1,029
down €1,029 (-33.0%), from €3,119 to €2,089
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 | €1,156,744 | €1,086,401 | -€70,343 | -6.1% |
| Fixed assets | 21/28 | €71,710 | €64,552 | -€7,158 | -10.0% |
| Intangible fixed assets | 21 | €6,715 | €4,759 | -€1,956 | -29.1% |
| Tangible fixed assets | 22/27 | €61,946 | €58,794 | -€3,152 | -5.1% |
| Furniture and vehicles | 24 | €24,067 | €25,666 | +€1,599 | +6.6% |
| Other tangible fixed assets | 26 | €37,879 | €33,128 | -€4,751 | -12.5% |
| Financial fixed assets | 28 | €3,050 | €1,000 | -€2,050 | -67.2% |
| Current assets | 29/58 | €1,085,033 | €1,021,849 | -€63,185 | -5.8% |
| Amounts receivable after more than one year | 29 | €533,000 | €533,000 | = | 0.0% |
| Other amounts receivable | 291 | €533,000 | €533,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €28,702 | €485,010 | +€456,307 | +1,590% |
| Trade receivables | 40 | €28,702 | €32,127 | +€3,425 | +11.9% |
| Other amounts receivable | 41 | - | €452,882 | +€452,882 | |
| Current investments | 50/53 | €248,280 | €0 | -€248,280 | -100% |
| Cash at bank and in hand | 54/58 | €247,004 | €2,272 | -€244,733 | -99.1% |
| Deferred charges and accrued income | 490/1 | €28,046 | €1,567 | -€26,479 | -94.4% |
| Total equity and liabilities | 10/49 | €1,156,744 | €1,086,401 | -€70,343 | -6.1% |
| Equity | 10/15 | €1,128,719 | €871,505 | -€257,214 | -22.8% |
| Contributions | 10/11 | €8,060 | €6,200 | -€1,860 | -23.1% |
| Reserves | 13 | €1,349,928 | €1,145,288 | -€204,640 | -15.2% |
| Tax-exempt reserves | 132 | €465 | €465 | = | 0.0% |
| Distributable reserves | 133 | €1,349,463 | €1,144,823 | -€204,640 | -15.2% |
| Profit (loss) carried forward | 14 | -€229,269 | -€279,983 | -€50,714 | -22.1% |
| Amounts payable | 17/49 | €28,024 | €214,896 | +€186,872 | +667% |
| Amounts payable within one year | 42/48 | €28,024 | €214,896 | +€186,872 | +667% |
| Trade debts | 44 | €11,821 | €7,042 | -€4,780 | -40.4% |
| Suppliers | 440/4 | €11,821 | €7,042 | -€4,780 | -40.4% |
| Taxes, remuneration and social security | 45 | €15,828 | €390 | -€15,438 | -97.5% |
| Taxes | 450/3 | €9,858 | €390 | -€9,469 | -96.0% |
| Remuneration and social security | 454/9 | €5,970 | €0 | -€5,970 | -100% |
| Other amounts payable | 47/48 | €375 | €207,465 | +€207,090 | +55,267% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,824 | €19,456 | +€4,633 | +31.3% |
| Other operating charges | 640/8 | €2,107 | €1,791 | -€315 | -15.0% |
| Gross operating margin | 9900 | -€73,588 | -€81,316 | -€7,728 | -10.5% |
| Operating profit (loss) | 9901 | -€90,518 | -€102,563 | -€12,045 | -13.3% |
| Financial income | 75/76B | €16,002 | €54,252 | +€38,250 | +239% |
| Recurring financial income | 75 | €16,002 | €54,252 | +€38,250 | +239% |
| Financial charges | 65/66B | €3,119 | €2,089 | -€1,029 | -33.0% |
| Recurring financial charges | 65 | €3,119 | €2,089 | -€1,029 | -33.0% |
| Profit (loss) for the period before taxes | 9903 | -€77,634 | -€50,400 | +€27,234 | +35.1% |
| Income taxes | 67/77 | €385 | €314 | -€71 | -18.4% |
| Profit (loss) for the period | 9904 | -€78,019 | -€50,714 | +€27,305 | +35.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€78,019 | -€50,714 | +€27,305 | +35.0% |
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 23 October 2026 via checked.be.