Alfa Development: 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 Development
Largest movements
- Receivables within one year -€88,256
down €88,256 (-100.0%), from €88,256 to €0
- Tangible fixed assets -€68,839
down €68,839 (-4.2%), from €1.7m to €1.6m
- Profit (loss) carried forward +€467,727
up €467,727 (+39.6%), from -€1.2m to -€714,881
- Reserves -€453,566
down €453,566 (-96.2%), from €471,392 to €17,826
of which Tax-exempt reserves: -€453,566
- Provisions -€246,303
down €246,303 (-21.8%), from €1.1m to €885,256
of which Deferred taxes: -€233,551
- Other debts +€236,600
up €236,600 (+182.1%), from €129,948 to €366,548
- Debts after one year -€128,973
down €128,973 (-14.4%), from €895,535 to €766,562
- Financial charges -€759,886
down €759,886 (-85.9%), from €884,840 to €124,954
of which Non-recurring financial charges: -€741,005
- Gross operating margin -€159,080
down €159,080 (-78.9%), from €201,737 to €42,657
- Other operating charges +€2,018
up €2,018 (+3.0%), from €66,237 to €68,255
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 | €1,796,715 | €1,643,664 | -€153,051 | -8.5% |
| Fixed assets | 21/28 | €1,708,118 | €1,639,279 | -€68,839 | -4.0% |
| Tangible fixed assets | 22/27 | €1,658,118 | €1,589,279 | -€68,839 | -4.2% |
| Land and buildings | 22 | €1,658,118 | €1,589,279 | -€68,839 | -4.2% |
| Financial fixed assets | 28 | €50,000 | €50,000 | = | 0.0% |
| Current assets | 29/58 | €88,597 | €4,385 | -€84,212 | -95.1% |
| Amounts receivable within one year | 40/41 | €88,256 | €0 | -€88,256 | -100.0% |
| Trade receivables | 40 | €88,256 | €0 | -€88,256 | -100.0% |
| Cash at bank and in hand | 54/58 | €341 | €4,385 | +€4,044 | +1186.4% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €1,796,715 | €1,643,664 | -€153,051 | -8.5% |
| Equity | 10/15 | -€691,216 | -€677,054 | +€14,161 | +2.0% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €471,392 | €17,826 | -€453,566 | -96.2% |
| Tax-exempt reserves | 132 | €453,566 | €0 | -€453,566 | -100.0% |
| Distributable reserves | 133 | €17,826 | €17,826 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,182,608 | -€714,881 | +€467,727 | +39.6% |
| Provisions and deferred taxes | 16 | €1,131,560 | €885,256 | -€246,303 | -21.8% |
| Provisions for liabilities and charges | 160/5 | €898,008 | €885,256 | -€12,752 | -1.4% |
| Other liabilities and charges | 164/5 | €898,008 | €885,256 | -€12,752 | -1.4% |
| Deferred taxes | 168 | €233,551 | €0 | -€233,551 | -100.0% |
| Amounts payable | 17/49 | €1,356,371 | €1,435,462 | +€79,091 | +5.8% |
| Amounts payable after more than one year | 17 | €895,535 | €766,562 | -€128,973 | -14.4% |
| Financial debts | 170/4 | €895,535 | €766,562 | -€128,973 | -14.4% |
| Amounts payable within one year | 42/48 | €446,902 | €588,264 | +€141,362 | +31.6% |
| Current portion of amounts payable after more than one year | 42 | €122,919 | €128,972 | +€6,053 | +4.9% |
| Trade debts | 44 | €194,035 | €92,744 | -€101,291 | -52.2% |
| Suppliers | 440/4 | €194,035 | €92,744 | -€101,291 | -52.2% |
| Other amounts payable | 47/48 | €129,948 | €366,548 | +€236,600 | +182.1% |
| Accrued charges and deferred income | 492/3 | €13,934 | €80,636 | +€66,702 | +478.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €68,839 | €68,839 | = | 0.0% |
| Other operating charges | 640/8 | €66,237 | €68,255 | +€2,018 | +3.0% |
| Gross operating margin | 9900 | €201,737 | €42,657 | -€159,080 | -78.9% |
| Operating profit (loss) | 9901 | €66,661 | -€94,437 | -€161,098 | |
| Financial income | 75/76B | €0 | €1 | +€1 | +1257.1% |
| Recurring financial income | 75 | €0 | €1 | +€1 | +1257.1% |
| Financial charges | 65/66B | €884,840 | €124,954 | -€759,886 | -85.9% |
| Recurring financial charges | 65 | €143,835 | €124,954 | -€18,881 | -13.1% |
| Non-recurring financial charges | 66B | €741,005 | €0 | -€741,005 | -100.0% |
| Profit (loss) for the period before taxes | 9903 | -€818,179 | -€219,390 | +€598,789 | +73.2% |
| Transfer from deferred taxes | 780 | €10,946 | €233,551 | +€222,605 | +2033.6% |
| Profit (loss) for the period | 9904 | -€807,233 | €14,161 | +€821,394 | |
| Transfer from tax-exempt reserves | 789 | €21,258 | €453,566 | +€432,308 | +2033.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€785,975 | €467,727 | +€1.3m |
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 10 October 2026 via checked.be.