ALFA-MI: 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-MI
Largest movements
- Tangible fixed assets +€504,279
up €504,279 (+19.5%), from €2.6m to €3.1m
of which Land and buildings: +€489,075
- Cash -€60,480
down €60,480 (-89.2%), from €67,792 to €7,312
mainly Investment in fixed assets (net) (-€609,306) and Other debts (-€584,039)
- Debts after one year +€995,779
up €995,779 (+66.2%), from €1.5m to €2.5m
of which Other amounts payable: +€785,799
- Other debts -€584,039
down €584,039 (-65.9%), from €885,799 to €301,760
- Gross operating margin +€31,331
up €31,331 (+19.2%), from €162,825 to €194,156
- Depreciation +€26,793
up €26,793 (+34.2%), from €78,234 to €105,027
- Other operating charges +€12,705
up €12,705 (+38.7%), from €32,811 to €45,516
- Financial charges +€5,518
up €5,518 (+35.4%), from €15,584 to €21,102
- Financial income -€2,702
down €2,702 (-92.5%), from €2,921 to €219
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 | €2,705,800 | €3,148,936 | +€443,137 | +16.4% |
| Fixed assets | 21/28 | €2,581,384 | €3,085,663 | +€504,279 | +19.5% |
| Tangible fixed assets | 22/27 | €2,581,384 | €3,085,663 | +€504,279 | +19.5% |
| Land and buildings | 22 | €2,389,112 | €2,878,187 | +€489,075 | +20.5% |
| Plant, machinery and equipment | 23 | €192,272 | €207,476 | +€15,204 | +7.9% |
| Current assets | 29/58 | €124,416 | €63,274 | -€61,143 | -49.1% |
| Amounts receivable within one year | 40/41 | €56,624 | €55,962 | -€663 | -1.2% |
| Trade receivables | 40 | €33,824 | €52,866 | +€19,042 | +56.3% |
| Other amounts receivable | 41 | €22,800 | €3,096 | -€19,704 | -86.4% |
| Cash at bank and in hand | 54/58 | €67,792 | €7,312 | -€60,480 | -89.2% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €2,705,800 | €3,148,936 | +€443,137 | +16.4% |
| Equity | 10/15 | €156,324 | €179,054 | +€22,730 | +14.5% |
| Contributions | 10/11 | €118,600 | €118,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €35,864 | €58,594 | +€22,730 | +63.4% |
| Amounts payable | 17/49 | €2,549,476 | €2,969,882 | +€420,407 | +16.5% |
| Amounts payable after more than one year | 17 | €1,505,130 | €2,500,909 | +€995,779 | +66.2% |
| Financial debts | 170/4 | €1,505,130 | €1,715,110 | +€209,980 | +14.0% |
| Other amounts payable | 178/9 | - | €785,799 | +€785,799 | |
| Amounts payable within one year | 42/48 | €1,044,346 | €447,881 | -€596,465 | -57.1% |
| Current portion of amounts payable after more than one year | 42 | €95,000 | €111,506 | +€16,506 | +17.4% |
| Trade debts | 44 | €59,949 | €31,165 | -€28,784 | -48.0% |
| Suppliers | 440/4 | €59,949 | €31,165 | -€28,784 | -48.0% |
| Taxes, remuneration and social security | 45 | €3,598 | €3,450 | -€148 | -4.1% |
| Taxes | 450/3 | €3,598 | €3,450 | -€148 | -4.1% |
| Other amounts payable | 47/48 | €885,799 | €301,760 | -€584,039 | -65.9% |
| Accrued charges and deferred income | 492/3 | - | €21,093 | +€21,093 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €78,234 | €105,027 | +€26,793 | +34.2% |
| Other operating charges | 640/8 | €32,811 | €45,516 | +€12,705 | +38.7% |
| Gross operating margin | 9900 | €162,825 | €194,156 | +€31,331 | +19.2% |
| Operating profit (loss) | 9901 | €51,780 | €43,613 | -€8,167 | -15.8% |
| Financial income | 75/76B | €2,921 | €219 | -€2,702 | -92.5% |
| Recurring financial income | 75 | €2,921 | €219 | -€2,702 | -92.5% |
| Financial charges | 65/66B | €15,584 | €21,102 | +€5,518 | +35.4% |
| Recurring financial charges | 65 | €15,584 | €21,102 | +€5,518 | +35.4% |
| Profit (loss) for the period before taxes | 9903 | €39,118 | €22,730 | -€16,387 | -41.9% |
| Profit (loss) for the period | 9904 | €39,118 | €22,730 | -€16,387 | -41.9% |
| Profit (loss) for the period to be appropriated | 9905 | €39,118 | €22,730 | -€16,387 | -41.9% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.