ALFA PLUS: 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 PLUS
Largest movements
- Stocks and contracts +€344,285
up €344,285 (+72.6%), from €474,414 to €818,699
- Receivables within one year -€29,806
down €29,806 (-9.9%), from €300,206 to €270,400
of which Other amounts receivable: -€20,034
- Cash -€21,602
down €21,602 (-54.2%), from €39,864 to €18,262
mainly Stocks and contracts (-€344,285) and Tax, wage and social debts (-€134,620)
- Reserves +€613,455
new in 2025: €613,455
- Profit (loss) carried forward -€400,559
no longer reported in 2025 (was €400,559)
- Debts after one year +€231,000
new in 2025: €231,000
- Tax, wage and social debts -€134,620
down €134,620 (-89.6%), from €150,184 to €15,564
- Trade debts -€52,682
down €52,682 (-30.4%), from €173,228 to €120,546
- Gross operating margin +€259,735
up €259,735 (+257.4%), from €100,916 to €360,651
- Taxes +€59,148
up €59,148 (+477.7%), from €12,381 to €71,528
- Other operating charges +€27,968
up €27,968 (+80.9%), from €34,569 to €62,537
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 | €897,400 | €1,177,445 | +€280,045 | +31.2% |
| Fixed assets | 21/28 | €31,121 | €22,615 | -€8,506 | -27.3% |
| Tangible fixed assets | 22/27 | €26,121 | €17,365 | -€8,756 | -33.5% |
| Plant, machinery and equipment | 23 | €1,130 | €2,345 | +€1,215 | +107.6% |
| Furniture and vehicles | 24 | €24,991 | €15,020 | -€9,971 | -39.9% |
| Financial fixed assets | 28 | €5,000 | €5,250 | +€250 | +5.0% |
| Current assets | 29/58 | €866,279 | €1,154,830 | +€288,551 | +33.3% |
| Stocks and contracts in progress | 3 | €474,414 | €818,699 | +€344,285 | +72.6% |
| Stocks | 30/36 | €474,414 | €818,699 | +€344,285 | +72.6% |
| Amounts receivable within one year | 40/41 | €300,206 | €270,400 | -€29,806 | -9.9% |
| Trade receivables | 40 | €222,631 | €212,858 | -€9,772 | -4.4% |
| Other amounts receivable | 41 | €77,575 | €57,541 | -€20,034 | -25.8% |
| Cash at bank and in hand | 54/58 | €39,864 | €18,262 | -€21,602 | -54.2% |
| Deferred charges and accrued income | 490/1 | €51,796 | €47,470 | -€4,325 | -8.4% |
| Total equity and liabilities | 10/49 | €897,400 | €1,177,445 | +€280,045 | +31.2% |
| Equity | 10/15 | €406,759 | €619,655 | +€212,897 | +52.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | - | €613,455 | +€613,455 | |
| Distributable reserves | 133 | - | €613,455 | +€613,455 | |
| Profit (loss) carried forward | 14 | €400,559 | - | -€400,559 | |
| Amounts payable | 17/49 | €490,641 | €557,790 | +€67,149 | +13.7% |
| Amounts payable after more than one year | 17 | - | €231,000 | +€231,000 | |
| Financial debts | 170/4 | - | €231,000 | +€231,000 | |
| Amounts payable within one year | 42/48 | €430,641 | €266,790 | -€163,851 | -38.0% |
| Financial debts | 43 | - | €23,535 | +€23,535 | |
| Credit institutions | 430/8 | - | €23,535 | +€23,535 | |
| Trade debts | 44 | €173,228 | €120,546 | -€52,682 | -30.4% |
| Suppliers | 440/4 | €173,228 | €120,546 | -€52,682 | -30.4% |
| Taxes, remuneration and social security | 45 | €150,184 | €15,564 | -€134,620 | -89.6% |
| Taxes | 450/3 | €150,184 | €15,564 | -€134,620 | -89.6% |
| Other amounts payable | 47/48 | €107,229 | €107,145 | -€84 | -0.1% |
| Accrued charges and deferred income | 492/3 | €60,000 | €60,000 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,174 | €11,237 | +€1,063 | +10.4% |
| Other operating charges | 640/8 | €34,569 | €62,537 | +€27,968 | +80.9% |
| Non-recurring operating charges | 66A | €9,338 | - | -€9,338 | |
| Gross operating margin | 9900 | €100,916 | €360,651 | +€259,735 | +257.4% |
| Operating profit (loss) | 9901 | €46,834 | €286,877 | +€240,043 | +512.5% |
| Financial income | 75/76B | €28 | €31 | +€3 | +9.7% |
| Recurring financial income | 75 | €28 | €31 | +€3 | +9.7% |
| Financial charges | 65/66B | €3,389 | €2,483 | -€905 | -26.7% |
| Recurring financial charges | 65 | €3,389 | €2,483 | -€905 | -26.7% |
| Profit (loss) for the period before taxes | 9903 | €43,474 | €284,425 | +€240,951 | +554.2% |
| Income taxes | 67/77 | €12,381 | €71,528 | +€59,148 | +477.7% |
| Profit (loss) for the period | 9904 | €31,093 | €212,897 | +€181,804 | +584.7% |
| Profit (loss) for the period to be appropriated | 9905 | €31,093 | €212,897 | +€181,804 | +584.7% |
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 29 September 2026 via checked.be.