ALFA LEEUW: 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 LEEUW
Largest movements
- Receivables within one year +€96,446
up €96,446 (+1,945%), from €4,958 to €101,403
of which Trade receivables: +€74,547
- Stocks and contracts -€86,777
no longer reported in 2025 (was €86,777)
- Tangible fixed assets -€57,615
down €57,615 (-72.4%), from €79,615 to €22,000
of which Furniture and vehicles: -€42,955
- Cash -€19,196
down €19,196 (-48.9%), from €39,228 to €20,032
mainly Receivables within one year (-€96,446) and Other debts (-€71,489)
- Other debts -€71,489
down €71,489 (-80.3%), from €88,994 to €17,505
- Trade debts +€23,585
up €23,585 (+54.7%), from €43,117 to €66,702
- Tax, wage and social debts -€22,245
down €22,245 (-30.6%), from €72,603 to €50,358
of which Remuneration and social security: -€18,645
- Reserves +€3,007
up €3,007 (+14.4%), from €20,863 to €23,870
- Gross operating margin -€243,247
down €243,247 (-44.5%), from €547,142 to €303,895
- Staff costs -€208,649
down €208,649 (-44.5%), from €468,889 to €260,240
- Depreciation -€21,923
down €21,923 (-67.7%), from €32,369 to €10,446
- Financial charges +€14,780
up €14,780 (+1,405%), from €1,052 to €15,833
- Taxes -€6,200
down €6,200 (-85.5%), from €7,250 to €1,050
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 | €240,577 | €173,435 | -€67,142 | -27.9% |
| Fixed assets | 21/28 | €109,615 | €52,000 | -€57,615 | -52.6% |
| Tangible fixed assets | 22/27 | €79,615 | €22,000 | -€57,615 | -72.4% |
| Plant, machinery and equipment | 23 | €14,661 | - | -€14,661 | |
| Furniture and vehicles | 24 | €64,955 | €22,000 | -€42,955 | -66.1% |
| Financial fixed assets | 28 | €30,000 | €30,000 | = | 0.0% |
| Current assets | 29/58 | €130,962 | €121,435 | -€9,527 | -7.3% |
| Stocks and contracts in progress | 3 | €86,777 | - | -€86,777 | |
| Stocks | 30/36 | €86,777 | - | -€86,777 | |
| Amounts receivable within one year | 40/41 | €4,958 | €101,403 | +€96,446 | +1,945% |
| Trade receivables | 40 | €2,762 | €77,309 | +€74,547 | +2,699% |
| Other amounts receivable | 41 | €2,195 | €24,094 | +€21,899 | +998% |
| Cash at bank and in hand | 54/58 | €39,228 | €20,032 | -€19,196 | -48.9% |
| Total equity and liabilities | 10/49 | €240,577 | €173,435 | -€67,142 | -27.9% |
| Equity | 10/15 | €35,863 | €38,870 | +€3,007 | +8.4% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Reserves | 13 | €20,863 | €23,870 | +€3,007 | +14.4% |
| Distributable reserves | 133 | €20,863 | €23,870 | +€3,007 | +14.4% |
| Amounts payable | 17/49 | €204,714 | €134,565 | -€70,149 | -34.3% |
| Amounts payable within one year | 42/48 | €204,714 | €134,565 | -€70,149 | -34.3% |
| Trade debts | 44 | €43,117 | €66,702 | +€23,585 | +54.7% |
| Suppliers | 440/4 | €43,117 | €66,702 | +€23,585 | +54.7% |
| Taxes, remuneration and social security | 45 | €72,603 | €50,358 | -€22,245 | -30.6% |
| Taxes | 450/3 | €35,099 | €31,499 | -€3,600 | -10.3% |
| Remuneration and social security | 454/9 | €37,504 | €18,859 | -€18,645 | -49.7% |
| Other amounts payable | 47/48 | €88,994 | €17,505 | -€71,489 | -80.3% |
| Remuneration, social security and pensions | 62 | €468,889 | €260,240 | -€208,649 | -44.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,369 | €10,446 | -€21,923 | -67.7% |
| Other operating charges | 640/8 | €16,724 | €13,320 | -€3,405 | -20.4% |
| Gross operating margin | 9900 | €547,142 | €303,895 | -€243,247 | -44.5% |
| Operating profit (loss) | 9901 | €29,160 | €19,889 | -€9,271 | -31.8% |
| Financial income | 75/76B | €5 | - | -€5 | |
| Recurring financial income | 75 | €5 | - | -€5 | |
| Financial charges | 65/66B | €1,052 | €15,833 | +€14,780 | +1,405% |
| Recurring financial charges | 65 | €1,052 | €15,833 | +€14,780 | +1,405% |
| Profit (loss) for the period before taxes | 9903 | €28,113 | €4,057 | -€24,056 | -85.6% |
| Income taxes | 67/77 | €7,250 | €1,050 | -€6,200 | -85.5% |
| Profit (loss) for the period | 9904 | €20,863 | €3,007 | -€17,856 | -85.6% |
| Profit (loss) for the period to be appropriated | 9905 | €20,863 | €3,007 | -€17,856 | -85.6% |
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 27 October 2026 via checked.be.