ALFA CONSULT: what changed
What changed
ALFA CONSULT
NACE 68.203, Renting and operating of own or leased non-residential real estate, excluding land
filed annual accounts (NBB)
Net result for the year
-€72,520
2024 · -€127,311+€54,791
Equity
-€105,911
2024 · -€33,391-€72,520
Cash
€46,041
2024 · €48,725-€2,684
Balance sheet total
€1.2m
2024 · €1.2m-€67,247
Largest movements
Assets
- Tangible fixed assets -€90,692
down €90,692 (-8.3%), from €1.1m to €996,512
of which Land and buildings: -€102,758
- Intangible fixed assets +€25,000
new in 2025: €25,000
Equity and liabilities
- Profit (loss) carried forward -€72,520
down €72,520 (-10.8%), from -€671,141 to -€743,661
- Other debts +€54,585
up €54,585 (+113%), from €48,484 to €103,069
- Debts after one year -€53,120
down €53,120 (-4.7%), from €1.1m to €1.1m
- Revaluation surpluses -€26,135
down €26,135 (-5.4%), from €481,500 to €455,365
- Reserves +€26,135
up €26,135 (+30.3%), from €86,250 to €112,385
of which Distributable reserves: +€26,135
Income statement
- Gross operating margin +€75,481
up €75,481 (+89.7%), from €84,137 to €159,618
- Staff costs +€9,306
up €9,306 (+17.6%), from €52,872 to €62,177
- Other operating charges +€9,123
up €9,123 (+54.6%), from €16,707 to €25,831
- Depreciation +€2,908
up €2,908 (+2.6%), from €113,004 to €115,912
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
-€127,311
Gross operating margin
+€75,481
Staff costs
-€9,306
Depreciation
-€2,908
Other operating charges
-€9,123
Financial income
-€5
Financial charges
+€652
Result 2025
-€72,520
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€98,615
Investment
-€50,221
Financing
-€51,078
Cash 2024
€48,725
From operations (derived)
+€98,615
Net result for the year
-€72,520
Depreciation
+€115,912
Receivables within one year
-€5,412
Deferred charges and accrued income
+€4,284
Trade debts
-€6,793
Tax, wage and social debts
-€3,691
Other debts
+€54,585
Accrued charges and deferred income
+€12,250
Investment (derived)
-€50,221
Investment in fixed assets (net)
-€50,221
Financing
-€51,078
Debts after one year
-€53,120
Current portion of long-term debt
+€2,042
Cash 2025
€46,041
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,249,491 | €1,182,244 | -€67,247 | -5.4% |
| Fixed assets | 21/28 | €1,087,204 | €1,021,512 | -€65,692 | -6.0% |
| Intangible fixed assets | 21 | - | €25,000 | +€25,000 | |
| Tangible fixed assets | 22/27 | €1,087,204 | €996,512 | -€90,692 | -8.3% |
| Land and buildings | 22 | €1,029,025 | €926,268 | -€102,758 | -10.0% |
| Plant, machinery and equipment | 23 | €49,303 | €60,314 | +€11,011 | +22.3% |
| Furniture and vehicles | 24 | €8,875 | €9,931 | +€1,055 | +11.9% |
| Current assets | 29/58 | €162,288 | €160,732 | -€1,556 | -1.0% |
| Amounts receivable within one year | 40/41 | €101,570 | €106,982 | +€5,412 | +5.3% |
| Trade receivables | 40 | €96,280 | €104,020 | +€7,740 | +8.0% |
| Other amounts receivable | 41 | €5,290 | €2,962 | -€2,328 | -44.0% |
| Cash at bank and in hand | 54/58 | €48,725 | €46,041 | -€2,684 | -5.5% |
| Deferred charges and accrued income | 490/1 | €11,993 | €7,709 | -€4,284 | -35.7% |
| Total equity and liabilities | 10/49 | €1,249,491 | €1,182,244 | -€67,247 | -5.4% |
| Equity | 10/15 | -€33,391 | -€105,911 | -€72,520 | -217% |
| Contributions | 10/11 | €70,000 | €70,000 | = | 0.0% |
| Capital | 10 | €70,000 | €70,000 | = | 0.0% |
| Issued capital | 100 | €70,000 | €70,000 | = | 0.0% |
| Revaluation surpluses | 12 | €481,500 | €455,365 | -€26,135 | -5.4% |
| Reserves | 13 | €86,250 | €112,385 | +€26,135 | +30.3% |
| Tax-exempt reserves | 132 | €32,750 | €32,750 | = | 0.0% |
| Distributable reserves | 133 | €53,500 | €79,635 | +€26,135 | +48.8% |
| Profit (loss) carried forward | 14 | -€671,141 | -€743,661 | -€72,520 | -10.8% |
| Amounts payable | 17/49 | €1,282,883 | €1,288,155 | +€5,272 | +0.4% |
| Amounts payable after more than one year | 17 | €1,124,422 | €1,071,302 | -€53,120 | -4.7% |
| Financial debts | 170/4 | €1,124,422 | €1,071,302 | -€53,120 | -4.7% |
| Amounts payable within one year | 42/48 | €145,235 | €191,378 | +€46,143 | +31.8% |
| Current portion of amounts payable after more than one year | 42 | €69,051 | €71,093 | +€2,042 | +3.0% |
| Trade debts | 44 | €16,334 | €9,541 | -€6,793 | -41.6% |
| Suppliers | 440/4 | €16,334 | €9,541 | -€6,793 | -41.6% |
| Taxes, remuneration and social security | 45 | €11,366 | €7,675 | -€3,691 | -32.5% |
| Taxes | 450/3 | €421 | €1,395 | +€974 | +231% |
| Remuneration and social security | 454/9 | €10,945 | €6,280 | -€4,665 | -42.6% |
| Other amounts payable | 47/48 | €48,484 | €103,069 | +€54,585 | +113% |
| Accrued charges and deferred income | 492/3 | €13,226 | €25,476 | +€12,250 | +92.6% |
| Remuneration, social security and pensions | 62 | €52,872 | €62,177 | +€9,306 | +17.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €113,004 | €115,912 | +€2,908 | +2.6% |
| Other operating charges | 640/8 | €16,707 | €25,831 | +€9,123 | +54.6% |
| Gross operating margin | 9900 | €84,137 | €159,618 | +€75,481 | +89.7% |
| Operating profit (loss) | 9901 | -€98,446 | -€44,302 | +€54,144 | +55.0% |
| Financial income | 75/76B | €5 | - | -€5 | |
| Recurring financial income | 75 | €5 | - | -€5 | |
| Financial charges | 65/66B | €28,870 | €28,218 | -€652 | -2.3% |
| Recurring financial charges | 65 | €28,870 | €28,218 | -€652 | -2.3% |
| Profit (loss) for the period before taxes | 9903 | -€127,311 | -€72,520 | +€54,791 | +43.0% |
| Profit (loss) for the period | 9904 | -€127,311 | -€72,520 | +€54,791 | +43.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€127,311 | -€72,520 | +€54,791 | +43.0% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.