ALFA CONNECT: 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 CONNECT
Largest movements
- Tangible fixed assets +€300,546
up €300,546 (+536%), from €56,028 to €356,574
of which Land and buildings: +€290,918
- Receivables within one year +€24,744
new in 2025: €24,744
of which Other amounts receivable: +€24,529
- Deferred charges and accrued income -€4,941
no longer reported in 2025 (was €4,941)
- Debts after one year +€317,958
up €317,958 (+1,684%), from €18,881 to €336,839
- Profit (loss) carried forward -€43,434
down €43,434, from €28,148 to -€15,286
- Current portion of long-term debt +€31,955
up €31,955 (+224%), from €14,275 to €46,230
- Other debts +€18,788
up €18,788 (+8,882%), from €212 to €19,000
- Trade debts -€7,443
no longer reported in 2025 (was €7,443)
of which Suppliers: -€6,598
- Other operating charges +€49,734
up €49,734 (+1,949%), from €2,551 to €52,286
- Staff costs -€40,533
down €40,533 (-32.9%), from €123,245 to €82,712
- Depreciation +€18,407
up €18,407 (+498%), from €3,698 to €22,106
- Financial charges +€10,110
up €10,110 (+488%), from €2,073 to €12,182
- Taxes +€5,105
new in 2025: €5,105
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 | €94,828 | €409,804 | +€314,976 | +332% |
| Fixed assets | 21/28 | €56,028 | €356,574 | +€300,546 | +536% |
| Tangible fixed assets | 22/27 | €56,028 | €356,574 | +€300,546 | +536% |
| Land and buildings | 22 | - | €290,918 | +€290,918 | |
| Plant, machinery and equipment | 23 | €18,614 | €19,937 | +€1,323 | +7.1% |
| Furniture and vehicles | 24 | €37,413 | €45,719 | +€8,305 | +22.2% |
| Current assets | 29/58 | €38,800 | €53,231 | +€14,430 | +37.2% |
| Stocks and contracts in progress | 3 | €19,939 | €17,281 | -€2,658 | -13.3% |
| Stocks | 30/36 | €19,939 | €17,281 | -€2,658 | -13.3% |
| Amounts receivable within one year | 40/41 | - | €24,744 | +€24,744 | |
| Trade receivables | 40 | - | €215 | +€215 | |
| Other amounts receivable | 41 | - | €24,529 | +€24,529 | |
| Cash at bank and in hand | 54/58 | €13,920 | €11,206 | -€2,715 | -19.5% |
| Deferred charges and accrued income | 490/1 | €4,941 | - | -€4,941 | |
| Total equity and liabilities | 10/49 | €94,828 | €409,804 | +€314,976 | +332% |
| Equity | 10/15 | €32,648 | -€10,786 | -€43,434 | |
| Contributions | 10/11 | €4,500 | €4,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €28,148 | -€15,286 | -€43,434 | |
| Amounts payable | 17/49 | €62,180 | €420,590 | +€358,410 | +576% |
| Amounts payable after more than one year | 17 | €18,881 | €336,839 | +€317,958 | +1,684% |
| Financial debts | 170/4 | €18,881 | €336,839 | +€317,958 | +1,684% |
| Amounts payable within one year | 42/48 | €43,299 | €83,751 | +€40,452 | +93.4% |
| Current portion of amounts payable after more than one year | 42 | €14,275 | €46,230 | +€31,955 | +224% |
| Trade debts | 44 | €7,443 | - | -€7,443 | |
| Suppliers | 440/4 | €6,598 | - | -€6,598 | |
| Bills of exchange payable | 441 | €845 | - | -€845 | |
| Taxes, remuneration and social security | 45 | €21,370 | €18,521 | -€2,848 | -13.3% |
| Taxes | 450/3 | €7,478 | €9,301 | +€1,823 | +24.4% |
| Remuneration and social security | 454/9 | €13,891 | €9,220 | -€4,672 | -33.6% |
| Other amounts payable | 47/48 | €212 | €19,000 | +€18,788 | +8,882% |
| Remuneration, social security and pensions | 62 | €123,245 | €82,712 | -€40,533 | -32.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,698 | €22,106 | +€18,407 | +498% |
| Other operating charges | 640/8 | €2,551 | €52,286 | +€49,734 | +1,949% |
| Gross operating margin | 9900 | €154,517 | €155,958 | +€1,441 | +0.9% |
| Operating profit (loss) | 9901 | €25,023 | -€1,146 | -€26,169 | |
| Financial charges | 65/66B | €2,073 | €12,182 | +€10,110 | +488% |
| Recurring financial charges | 65 | €2,073 | €12,182 | +€10,110 | +488% |
| Profit (loss) for the period before taxes | 9903 | €22,950 | -€13,328 | -€36,278 | |
| Income taxes | 67/77 | - | €5,105 | +€5,105 | |
| Profit (loss) for the period | 9904 | €22,950 | -€18,434 | -€41,384 | |
| Profit (loss) for the period to be appropriated | 9905 | €22,950 | -€18,434 | -€41,384 |
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 19 October 2026 via checked.be.