ALF Valorisation: 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.
ALF Valorisation
Largest movements
- Cash +€154,621
up €154,621 (+5257.8%), from €2,941 to €157,562
mainly Other debts (+€200,710) and Depreciation (+€4,158)
- Tangible fixed assets +€20,318
up €20,318 (+186.2%), from €10,911 to €31,229
of which Other tangible fixed assets: +€22,420
- Receivables within one year +€14,904
up €14,904 (+380.6%), from €3,916 to €18,820
of which Trade receivables: +€13,472
- Stocks and contracts +€3,722
new in 2025: €3,722
- Other debts +€200,710
up €200,710 (+318.3%), from €63,064 to €263,774
- Profit (loss) carried forward -€7,965
down €7,965 (-4.1%), from -€192,476 to -€200,441
- Trade debts +€2,792
up €2,792 (+168.6%), from €1,656 to €4,448
- Gross operating margin -€6,737
down €6,737, from €2,975 to -€3,762
- Depreciation +€142
up €142 (+3.5%), from €4,016 to €4,158
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 | €22,268 | €217,781 | +€195,513 | +878.0% |
| Fixed assets | 21/28 | €15,411 | €35,729 | +€20,318 | +131.8% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €10,911 | €31,229 | +€20,318 | +186.2% |
| Land and buildings | 22 | €800 | €400 | -€400 | -50.0% |
| Plant, machinery and equipment | 23 | €0 | €0 | = | |
| Furniture and vehicles | 24 | €10,110 | €8,409 | -€1,702 | -16.8% |
| Other tangible fixed assets | 26 | - | €22,420 | +€22,420 | |
| Financial fixed assets | 28 | €4,500 | €4,500 | = | 0.0% |
| Current assets | 29/58 | €6,857 | €182,052 | +€175,195 | +2555.1% |
| Stocks and contracts in progress | 3 | - | €3,722 | +€3,722 | |
| Stocks | 30/36 | - | €3,722 | +€3,722 | |
| Amounts receivable within one year | 40/41 | €3,916 | €18,820 | +€14,904 | +380.6% |
| Trade receivables | 40 | €3,342 | €16,814 | +€13,472 | +403.1% |
| Other amounts receivable | 41 | €574 | €2,005 | +€1,431 | +249.4% |
| Cash at bank and in hand | 54/58 | €2,941 | €157,562 | +€154,621 | +5257.8% |
| Deferred charges and accrued income | 490/1 | - | €1,949 | +€1,949 | |
| Total equity and liabilities | 10/49 | €22,268 | €217,781 | +€195,513 | +878.0% |
| Equity | 10/15 | -€42,476 | -€50,441 | -€7,965 | -18.8% |
| Contributions | 10/11 | €150,000 | €150,000 | = | 0.0% |
| Capital | 10 | €150,000 | €150,000 | = | 0.0% |
| Issued capital | 100 | €150,000 | €150,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€192,476 | -€200,441 | -€7,965 | -4.1% |
| Amounts payable | 17/49 | €64,744 | €268,222 | +€203,478 | +314.3% |
| Amounts payable within one year | 42/48 | €64,744 | €268,222 | +€203,478 | +314.3% |
| Trade debts | 44 | €1,656 | €4,448 | +€2,792 | +168.6% |
| Suppliers | 440/4 | €1,656 | €4,448 | +€2,792 | +168.6% |
| Taxes, remuneration and social security | 45 | €24 | - | -€24 | |
| Taxes | 450/3 | €24 | - | -€24 | |
| Other amounts payable | 47/48 | €63,064 | €263,774 | +€200,710 | +318.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,016 | €4,158 | +€142 | +3.5% |
| Gross operating margin | 9900 | €2,975 | -€3,762 | -€6,737 | |
| Operating profit (loss) | 9901 | -€1,041 | -€7,919 | -€6,878 | -660.8% |
| Financial income | 75/76B | - | €7 | +€7 | |
| Recurring financial income | 75 | - | €7 | +€7 | |
| Financial charges | 65/66B | €74 | €52 | -€22 | -29.4% |
| Recurring financial charges | 65 | €74 | €52 | -€22 | -29.4% |
| Profit (loss) for the period before taxes | 9903 | -€1,115 | -€7,965 | -€6,850 | -614.3% |
| Profit (loss) for the period | 9904 | -€1,115 | -€7,965 | -€6,850 | -614.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,115 | -€7,965 | -€6,850 | -614.3% |
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 9 October 2026 via checked.be.