ALFA OG: 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 OG
Largest movements
- Tangible fixed assets -€17,088
down €17,088 (-3.7%), from €466,144 to €449,056
- Cash -€9,897
down €9,897 (-13.7%), from €72,080 to €62,183
mainly Debts after one year (-€44,868) and Tax, wage and social debts (-€10,532)
- Debts after one year -€44,868
down €44,868 (-15.0%), from €298,626 to €253,758
- Reserves +€27,818
up €27,818 (+18.2%), from €152,627 to €180,445
of which Distributable reserves: +€27,818
- Tax, wage and social debts -€10,532
down €10,532 (-51.0%), from €20,670 to €10,138
- Gross operating margin -€2,248
down €2,248 (-3.5%), from €64,628 to €62,380
- Taxes -€1,201
down €1,201 (-10.6%), from €11,369 to €10,169
- Financial charges -€682
down €682 (-13.2%), from €5,160 to €4,478
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 | €538,445 | €511,460 | -€26,985 | -5.0% |
| Fixed assets | 21/28 | €466,144 | €449,056 | -€17,088 | -3.7% |
| Tangible fixed assets | 22/27 | €466,144 | €449,056 | -€17,088 | -3.7% |
| Land and buildings | 22 | €466,144 | €449,056 | -€17,088 | -3.7% |
| Current assets | 29/58 | €72,301 | €62,404 | -€9,897 | -13.7% |
| Amounts receivable within one year | 40/41 | €220 | €220 | = | 0.0% |
| Other amounts receivable | 41 | €220 | €220 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €72,080 | €62,183 | -€9,897 | -13.7% |
| Total equity and liabilities | 10/49 | €538,445 | €511,460 | -€26,985 | -5.0% |
| Equity | 10/15 | €172,627 | €200,445 | +€27,818 | +16.1% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €152,627 | €180,445 | +€27,818 | +18.2% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | - | -€2,000 | |
| Other | 1319 | - | €2,000 | +€2,000 | |
| Distributable reserves | 133 | €150,627 | €178,445 | +€27,818 | +18.5% |
| Amounts payable | 17/49 | €365,818 | €311,015 | -€54,803 | -15.0% |
| Amounts payable after more than one year | 17 | €298,626 | €253,758 | -€44,868 | -15.0% |
| Financial debts | 170/4 | €298,626 | €253,758 | -€44,868 | -15.0% |
| Amounts payable within one year | 42/48 | €67,192 | €57,256 | -€9,936 | -14.8% |
| Current portion of amounts payable after more than one year | 42 | €44,271 | €44,868 | +€597 | +1.3% |
| Trade debts | 44 | €2,251 | €2,251 | = | 0.0% |
| Suppliers | 440/4 | €2,251 | €2,251 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €20,670 | €10,138 | -€10,532 | -51.0% |
| Taxes | 450/3 | €20,670 | €10,138 | -€10,532 | -51.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,088 | €17,088 | = | 0.0% |
| Other operating charges | 640/8 | €2,658 | €2,828 | +€170 | +6.4% |
| Gross operating margin | 9900 | €64,628 | €62,380 | -€2,248 | -3.5% |
| Operating profit (loss) | 9901 | €44,882 | €42,465 | -€2,417 | -5.4% |
| Financial charges | 65/66B | €5,160 | €4,478 | -€682 | -13.2% |
| Recurring financial charges | 65 | €5,160 | €4,478 | -€682 | -13.2% |
| Profit (loss) for the period before taxes | 9903 | €39,722 | €37,987 | -€1,735 | -4.4% |
| Income taxes | 67/77 | €11,369 | €10,169 | -€1,201 | -10.6% |
| Profit (loss) for the period | 9904 | €28,353 | €27,818 | -€535 | -1.9% |
| Profit (loss) for the period to be appropriated | 9905 | €28,353 | €27,818 | -€535 | -1.9% |
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 16 October 2026 via checked.be.