Alfa Certi: 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.
Alfa Certi
Largest movements
- Receivables within one year +€25,544
up €25,544 (+27.6%), from €92,447 to €117,990
of which Other amounts receivable: +€16,270
- Reserves +€27,638
up €27,638 (+20.1%), from €137,770 to €165,408
- Advances received +€10,302
new in 2025: €10,302
- Trade debts -€6,639
down €6,639 (-97.3%), from €6,826 to €187
- Other debts -€5,699
down €5,699 (-26.8%), from €21,272 to €15,573
- Gross operating margin -€30,020
down €30,020 (-39.8%), from €75,432 to €45,411
- Taxes -€5,471
down €5,471 (-39.6%), from €13,814 to €8,343
- Financial income +€1,804
up €1,804 (+67.5%), from €2,673 to €4,477
- Depreciation +€1,620
up €1,620 (+14.2%), from €11,405 to €13,025
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 | €183,536 | €209,099 | +€25,562 | +13.9% |
| Fixed assets | 21/28 | €50,340 | €49,424 | -€916 | -1.8% |
| Tangible fixed assets | 22/27 | €49,840 | €48,924 | -€916 | -1.8% |
| Furniture and vehicles | 24 | €47,440 | €35,288 | -€12,152 | -25.6% |
| Other tangible fixed assets | 26 | €2,400 | €13,636 | +€11,236 | +468% |
| Financial fixed assets | 28 | €500 | €500 | = | 0.0% |
| Current assets | 29/58 | €133,196 | €159,675 | +€26,479 | +19.9% |
| Amounts receivable within one year | 40/41 | €92,447 | €117,990 | +€25,544 | +27.6% |
| Trade receivables | 40 | €13,836 | €23,110 | +€9,274 | +67.0% |
| Other amounts receivable | 41 | €78,611 | €94,881 | +€16,270 | +20.7% |
| Cash at bank and in hand | 54/58 | €40,750 | €41,370 | +€621 | +1.5% |
| Deferred charges and accrued income | 490/1 | €0 | €314 | +€314 | |
| Total equity and liabilities | 10/49 | €183,536 | €209,099 | +€25,562 | +13.9% |
| Equity | 10/15 | €138,770 | €166,408 | +€27,638 | +19.9% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €137,770 | €165,408 | +€27,638 | +20.1% |
| Distributable reserves | 133 | €137,770 | €165,408 | +€27,638 | +20.1% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €44,767 | €42,691 | -€2,076 | -4.6% |
| Amounts payable within one year | 42/48 | €44,767 | €42,691 | -€2,076 | -4.6% |
| Trade debts | 44 | €6,826 | €187 | -€6,639 | -97.3% |
| Suppliers | 440/4 | €6,826 | €187 | -€6,639 | -97.3% |
| Advances received on contracts in progress | 46 | - | €10,302 | +€10,302 | |
| Taxes, remuneration and social security | 45 | €16,669 | €16,628 | -€41 | -0.2% |
| Taxes | 450/3 | €16,669 | €16,628 | -€41 | -0.2% |
| Other amounts payable | 47/48 | €21,272 | €15,573 | -€5,699 | -26.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,405 | €13,025 | +€1,620 | +14.2% |
| Other operating charges | 640/8 | €391 | €866 | +€474 | +121% |
| Gross operating margin | 9900 | €75,432 | €45,411 | -€30,020 | -39.8% |
| Operating profit (loss) | 9901 | €63,635 | €31,521 | -€32,114 | -50.5% |
| Financial income | 75/76B | €2,673 | €4,477 | +€1,804 | +67.5% |
| Recurring financial income | 75 | €2,673 | €4,477 | +€1,804 | +67.5% |
| Financial charges | 65/66B | €233 | €17 | -€216 | -92.9% |
| Recurring financial charges | 65 | €233 | €17 | -€216 | -92.9% |
| Profit (loss) for the period before taxes | 9903 | €66,075 | €35,981 | -€30,094 | -45.5% |
| Income taxes | 67/77 | €13,814 | €8,343 | -€5,471 | -39.6% |
| Profit (loss) for the period | 9904 | €52,262 | €27,638 | -€24,623 | -47.1% |
| Profit (loss) for the period to be appropriated | 9905 | €52,262 | €27,638 | -€24,623 | -47.1% |
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 18 October 2026 via checked.be.