Alfa Engineering Projects: what changed
Two fiscal 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 Engineering Projects
Largest movements
- Tangible fixed assets +€576,073
up €576,073 (+230.0%), from €250,414 to €826,487
of which Other tangible fixed assets: +€301,796
- Receivables within one year +€209,770
up €209,770 (+16.8%), from €1.2m to €1.5m
of which Trade receivables: +€132,282
- Cash -€203,872
down €203,872 (-46.6%), from €437,204 to €233,332
mainly Investment in fixed assets (net) (-€711,620) and Receivables within one year (-€209,770)
- Receivables after one year +€161,800
up €161,800 (+60.8%), from €265,962 to €427,762
- Current investments +€60,000
up €60,000, from €0 to €60,000
- Debts after one year +€371,508
up €371,508 (+592.7%), from €62,685 to €434,193
of which Financial debts: +€368,208
- Reserves +€345,987
up €345,987 (+62.1%), from €557,383 to €903,370
- Trade debts +€107,085
up €107,085 (+26.3%), from €407,773 to €514,858
- Current portion of long-term debt +€62,871
up €62,871 (+319.0%), from €19,711 to €82,582
- Accrued charges and deferred income -€38,972
down €38,972 (-4.2%), from €932,459 to €893,486
- Staff costs +€156,615
up €156,615 (+15.2%), from €1.0m to €1.2m
- Gross operating margin +€101,926
up €101,926 (+5.9%), from €1.7m to €1.8m
- Depreciation +€83,720
up €83,720 (+131.2%), from €63,827 to €147,547
- Taxes -€47,199
down €47,199 (-29.1%), from €162,236 to €115,037
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 | €2,246,156 | €3,059,889 | +€813,733 | +36.2% |
| Fixed assets | 21/28 | €262,414 | €826,487 | +€564,073 | +215.0% |
| Tangible fixed assets | 22/27 | €250,414 | €826,487 | +€576,073 | +230.0% |
| Land and buildings | 22 | - | €299,749 | +€299,749 | |
| Plant, machinery and equipment | 23 | €86,028 | €65,884 | -€20,145 | -23.4% |
| Furniture and vehicles | 24 | €68,463 | €84,679 | +€16,216 | +23.7% |
| Leasing and similar rights | 25 | €82,010 | €60,468 | -€21,543 | -26.3% |
| Other tangible fixed assets | 26 | €13,912 | €315,708 | +€301,796 | +2169.3% |
| Financial fixed assets | 28 | €12,000 | €0 | -€12,000 | -100.0% |
| Current assets | 29/58 | €1,983,742 | €2,233,402 | +€249,660 | +12.6% |
| Amounts receivable after more than one year | 29 | €265,962 | €427,762 | +€161,800 | +60.8% |
| Other amounts receivable | 291 | €265,962 | €427,762 | +€161,800 | +60.8% |
| Amounts receivable within one year | 40/41 | €1,247,881 | €1,457,652 | +€209,770 | +16.8% |
| Trade receivables | 40 | €1,143,742 | €1,276,024 | +€132,282 | +11.6% |
| Other amounts receivable | 41 | €104,139 | €181,628 | +€77,488 | +74.4% |
| Current investments | 50/53 | €0 | €60,000 | +€60,000 | |
| Cash at bank and in hand | 54/58 | €437,204 | €233,332 | -€203,872 | -46.6% |
| Deferred charges and accrued income | 490/1 | €32,695 | €54,655 | +€21,961 | +67.2% |
| Total equity and liabilities | 10/49 | €2,246,156 | €3,059,889 | +€813,733 | +36.2% |
| Equity | 10/15 | €562,383 | €908,370 | +€345,987 | +61.5% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €557,383 | €903,370 | +€345,987 | +62.1% |
| Distributable reserves | 133 | €557,383 | €903,370 | +€345,987 | +62.1% |
| Amounts payable | 17/49 | €1,683,774 | €2,151,519 | +€467,746 | +27.8% |
| Amounts payable after more than one year | 17 | €62,685 | €434,193 | +€371,508 | +592.7% |
| Financial debts | 170/4 | €62,685 | €430,893 | +€368,208 | +587.4% |
| Other amounts payable | 178/9 | - | €3,300 | +€3,300 | |
| Amounts payable within one year | 42/48 | €688,630 | €823,840 | +€135,210 | +19.6% |
| Current portion of amounts payable after more than one year | 42 | €19,711 | €82,582 | +€62,871 | +319.0% |
| Trade debts | 44 | €407,773 | €514,858 | +€107,085 | +26.3% |
| Suppliers | 440/4 | €407,773 | €514,858 | +€107,085 | +26.3% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €259,360 | €226,400 | -€32,961 | -12.7% |
| Taxes | 450/3 | €161,521 | €121,353 | -€40,169 | -24.9% |
| Remuneration and social security | 454/9 | €97,839 | €105,047 | +€7,208 | +7.4% |
| Other amounts payable | 47/48 | €1,785 | €0 | -€1,785 | -100.0% |
| Accrued charges and deferred income | 492/3 | €932,459 | €893,486 | -€38,972 | -4.2% |
| Remuneration, social security and pensions | 62 | €1,031,881 | €1,188,496 | +€156,615 | +15.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €63,827 | €147,547 | +€83,720 | +131.2% |
| Other operating charges | 640/8 | €14,863 | €12,662 | -€2,201 | -14.8% |
| Non-recurring operating charges | 66A | - | €13,912 | +€13,912 | |
| Gross operating margin | 9900 | €1,719,062 | €1,820,988 | +€101,926 | +5.9% |
| Operating profit (loss) | 9901 | €608,490 | €458,370 | -€150,120 | -24.7% |
| Financial income | 75/76B | €3,586 | €16,792 | +€13,206 | +368.2% |
| Recurring financial income | 75 | €3,586 | €16,792 | +€13,206 | +368.2% |
| Financial charges | 65/66B | €3,395 | €14,138 | +€10,743 | +316.4% |
| Recurring financial charges | 65 | €3,395 | €14,138 | +€10,743 | +316.4% |
| Profit (loss) for the period before taxes | 9903 | €608,681 | €461,025 | -€147,657 | -24.3% |
| Income taxes | 67/77 | €162,236 | €115,037 | -€47,199 | -29.1% |
| Profit (loss) for the period | 9904 | €446,445 | €345,987 | -€100,458 | -22.5% |
| Profit (loss) for the period to be appropriated | 9905 | €446,445 | €345,987 | -€100,458 | -22.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.