ALFA NOT: 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 NOT
Largest movements
- Receivables within one year +€123,323
up €123,323 (+1,557%), from €7,920 to €131,243
of which Trade receivables: +€121,000
- Current investments +€47,030
up €47,030 (+13.3%), from €354,882 to €401,912
- Cash -€8,399
down €8,399 (-5.7%), from €147,107 to €138,708
mainly Contributions, distributions and other (-€225,000) and Receivables within one year (-€123,323)
- Other debts +€150,143
up €150,143 (+214%), from €70,218 to €220,362
- Tax, wage and social debts +€16,650
up €16,650 (+213%), from €7,825 to €24,476
- Reserves -€8,834
down €8,834 (-2.1%), from €414,732 to €405,898
- Gross operating margin +€43,912
up €43,912 (+19.1%), from €230,103 to €274,015
- Financial income +€8,078
up €8,078 (+267%), from €3,023 to €11,101
- Financial charges +€4,298
up €4,298 (+416%), from €1,033 to €5,331
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 | €512,652 | €675,233 | +€162,581 | +31.7% |
| Current assets | 29/58 | €512,652 | €675,233 | +€162,581 | +31.7% |
| Amounts receivable within one year | 40/41 | €7,920 | €131,243 | +€123,323 | +1,557% |
| Trade receivables | 40 | - | €121,000 | +€121,000 | |
| Other amounts receivable | 41 | €7,920 | €10,243 | +€2,323 | +29.3% |
| Current investments | 50/53 | €354,882 | €401,912 | +€47,030 | +13.3% |
| Cash at bank and in hand | 54/58 | €147,107 | €138,708 | -€8,399 | -5.7% |
| Deferred charges and accrued income | 490/1 | €2,743 | €3,369 | +€626 | +22.8% |
| Total equity and liabilities | 10/49 | €512,652 | €675,233 | +€162,581 | +31.7% |
| Equity | 10/15 | €433,332 | €424,498 | -€8,834 | -2.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €414,732 | €405,898 | -€8,834 | -2.1% |
| Distributable reserves | 133 | €414,732 | €405,898 | -€8,834 | -2.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €79,320 | €250,735 | +€171,415 | +216% |
| Amounts payable within one year | 42/48 | €78,341 | €245,403 | +€167,063 | +213% |
| Trade debts | 44 | €297 | €566 | +€269 | +90.8% |
| Suppliers | 440/4 | €297 | €566 | +€269 | +90.8% |
| Taxes, remuneration and social security | 45 | €7,825 | €24,476 | +€16,650 | +213% |
| Taxes | 450/3 | €7,825 | €24,476 | +€16,650 | +213% |
| Other amounts payable | 47/48 | €70,218 | €220,362 | +€150,143 | +214% |
| Accrued charges and deferred income | 492/3 | €980 | €5,332 | +€4,352 | +444% |
| Other operating charges | 640/8 | €513 | €528 | +€14 | +2.8% |
| Gross operating margin | 9900 | €230,103 | €274,015 | +€43,912 | +19.1% |
| Operating profit (loss) | 9901 | €229,590 | €273,488 | +€43,898 | +19.1% |
| Financial income | 75/76B | €3,023 | €11,101 | +€8,078 | +267% |
| Recurring financial income | 75 | €3,023 | €11,101 | +€8,078 | +267% |
| Financial charges | 65/66B | €1,033 | €5,331 | +€4,298 | +416% |
| Recurring financial charges | 65 | €1,033 | €5,331 | +€4,298 | +416% |
| Profit (loss) for the period before taxes | 9903 | €231,580 | €279,258 | +€47,678 | +20.6% |
| Income taxes | 67/77 | €63,055 | €63,092 | +€37 | +0.1% |
| Profit (loss) for the period | 9904 | €168,525 | €216,166 | +€47,641 | +28.3% |
| Profit (loss) for the period to be appropriated | 9905 | €168,525 | €216,166 | +€47,641 | +28.3% |
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 13 October 2026 via checked.be.