ALF PROPERTIES: 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.
ALF PROPERTIES
Largest movements
- Tangible fixed assets +€40,952
up €40,952 (+5.2%), from €785,272 to €826,223
of which Land and buildings: +€66,842
- Debts after one year +€141,779
up €141,779 (+24.1%), from €587,686 to €729,465
of which Other amounts payable: +€111,500
- Profit (loss) carried forward -€93,467
down €93,467 (-49.0%), from -€190,622 to -€284,090
- Reserves -€9,771
down €9,771 (-3.6%), from €272,365 to €262,594
- Gross operating margin -€20,764
down €20,764, from €9,807 to -€10,956
- Depreciation +€7,418
up €7,418 (+13.1%), from €56,734 to €64,152
- Financial charges +€2,572
up €2,572 (+10.3%), from €25,000 to €27,572
- Financial income -€2,401
no longer reported in 2025 (was €2,401)
- Other operating charges -€212
down €212 (-6.6%), from €3,213 to €3,001
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 | €792,430 | €831,033 | +€38,602 | +4.9% |
| Fixed assets | 21/28 | €785,272 | €826,223 | +€40,952 | +5.2% |
| Tangible fixed assets | 22/27 | €785,272 | €826,223 | +€40,952 | +5.2% |
| Land and buildings | 22 | €729,392 | €796,234 | +€66,842 | +9.2% |
| Plant, machinery and equipment | 23 | €14,643 | €11,006 | -€3,636 | -24.8% |
| Furniture and vehicles | 24 | €18,677 | €14,783 | -€3,894 | -20.9% |
| Assets under construction and advance payments | 27 | €22,560 | €4,200 | -€18,360 | -81.4% |
| Current assets | 29/58 | €7,159 | €4,809 | -€2,349 | -32.8% |
| Amounts receivable within one year | 40/41 | €2,190 | €3,764 | +€1,574 | +71.9% |
| Trade receivables | 40 | - | €1,056 | +€1,056 | |
| Other amounts receivable | 41 | €2,190 | €2,708 | +€519 | +23.7% |
| Cash at bank and in hand | 54/58 | €4,969 | €1,045 | -€3,924 | -79.0% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €792,430 | €831,033 | +€38,602 | +4.9% |
| Equity | 10/15 | €106,743 | €3,505 | -€103,238 | -96.7% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €272,365 | €262,594 | -€9,771 | -3.6% |
| Tax-exempt reserves | 132 | €272,365 | €262,594 | -€9,771 | -3.6% |
| Profit (loss) carried forward | 14 | -€190,622 | -€284,090 | -€93,467 | -49.0% |
| Provisions and deferred taxes | 16 | €68,091 | €65,649 | -€2,443 | -3.6% |
| Deferred taxes | 168 | €68,091 | €65,649 | -€2,443 | -3.6% |
| Amounts payable | 17/49 | €617,596 | €761,879 | +€144,283 | +23.4% |
| Amounts payable after more than one year | 17 | €587,686 | €729,465 | +€141,779 | +24.1% |
| Financial debts | 170/4 | €576,686 | €606,965 | +€30,279 | +5.3% |
| Other amounts payable | 178/9 | €11,000 | €122,500 | +€111,500 | +1013.6% |
| Amounts payable within one year | 42/48 | €27,867 | €29,831 | +€1,965 | +7.0% |
| Current portion of amounts payable after more than one year | 42 | €24,178 | €29,359 | +€5,180 | +21.4% |
| Trade debts | 44 | €3,688 | €473 | -€3,216 | -87.2% |
| Suppliers | 440/4 | €3,688 | €473 | -€3,216 | -87.2% |
| Accrued charges and deferred income | 492/3 | €2,043 | €2,583 | +€540 | +26.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €56,734 | €64,152 | +€7,418 | +13.1% |
| Other operating charges | 640/8 | €3,213 | €3,001 | -€212 | -6.6% |
| Gross operating margin | 9900 | €9,807 | -€10,956 | -€20,764 | |
| Operating profit (loss) | 9901 | -€50,140 | -€78,109 | -€27,969 | -55.8% |
| Financial income | 75/76B | €2,401 | - | -€2,401 | |
| Recurring financial income | 75 | €2,401 | - | -€2,401 | |
| Financial charges | 65/66B | €25,000 | €27,572 | +€2,572 | +10.3% |
| Recurring financial charges | 65 | €25,000 | €27,572 | +€2,572 | +10.3% |
| Profit (loss) for the period before taxes | 9903 | -€72,738 | -€105,681 | -€32,943 | -45.3% |
| Transfer from deferred taxes | 780 | €2,443 | €2,443 | = | 0.0% |
| Profit (loss) for the period | 9904 | -€70,296 | -€103,238 | -€32,943 | -46.9% |
| Transfer from tax-exempt reserves | 789 | €9,771 | €9,771 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€60,525 | -€93,467 | -€32,943 | -54.4% |
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 8 October 2026 via checked.be.