ALFA STUC: 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 STUC
Largest movements
- Receivables within one year +€11,807
up €11,807 (+84.3%), from €14,010 to €25,817
of which Other amounts receivable: +€14,357
- Cash -€5,679
down €5,679 (-83.4%), from €6,809 to €1,129
mainly Receivables within one year (-€11,807) and Trade debts (-€10,001)
- Reserves +€13,399
up €13,399 (+40.5%), from €33,085 to €46,484
of which Distributable reserves: +€13,399
- Trade debts -€10,001
down €10,001 (-61.8%), from €16,190 to €6,189
- Tax, wage and social debts +€4,077
up €4,077 (+62.7%), from €6,505 to €10,581
- Debts after one year -€1,620
down €1,620 (-45.2%), from €3,588 to €1,968
- Gross operating margin +€7,293
up €7,293 (+40.2%), from €18,151 to €25,443
- Taxes +€2,591
up €2,591 (+64.8%), from €3,995 to €6,586
- Depreciation +€1,326
up €1,326 (+50.5%), from €2,627 to €3,953
- Financial charges -€467
down €467 (-38.9%), from €1,202 to €735
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 | €77,929 | €83,843 | +€5,914 | +7.6% |
| Fixed assets | 21/28 | €14,451 | €13,998 | -€453 | -3.1% |
| Tangible fixed assets | 22/27 | €14,451 | €13,998 | -€453 | -3.1% |
| Land and buildings | 22 | €1,510 | €1,208 | -€302 | -20.0% |
| Furniture and vehicles | 24 | €1,736 | €3,894 | +€2,159 | +124% |
| Other tangible fixed assets | 26 | €11,206 | €8,896 | -€2,309 | -20.6% |
| Current assets | 29/58 | €63,478 | €69,845 | +€6,367 | +10.0% |
| Amounts receivable after more than one year | 29 | €41,500 | €41,500 | = | 0.0% |
| Other amounts receivable | 291 | €41,500 | €41,500 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €14,010 | €25,817 | +€11,807 | +84.3% |
| Trade receivables | 40 | €2,550 | - | -€2,550 | |
| Other amounts receivable | 41 | €11,460 | €25,817 | +€14,357 | +125% |
| Cash at bank and in hand | 54/58 | €6,809 | €1,129 | -€5,679 | -83.4% |
| Deferred charges and accrued income | 490/1 | €1,159 | €1,398 | +€239 | +20.6% |
| Total equity and liabilities | 10/49 | €77,929 | €83,843 | +€5,914 | +7.6% |
| Equity | 10/15 | €50,085 | €63,484 | +€13,399 | +26.8% |
| Contributions | 10/11 | €17,000 | €17,000 | = | 0.0% |
| Reserves | 13 | €33,085 | €46,484 | +€13,399 | +40.5% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €31,225 | €44,624 | +€13,399 | +42.9% |
| Amounts payable | 17/49 | €27,844 | €20,359 | -€7,485 | -26.9% |
| Amounts payable after more than one year | 17 | €3,588 | €1,968 | -€1,620 | -45.2% |
| Financial debts | 170/4 | €3,588 | €1,968 | -€1,620 | -45.2% |
| Amounts payable within one year | 42/48 | €24,256 | €18,391 | -€5,865 | -24.2% |
| Current portion of amounts payable after more than one year | 42 | €1,561 | €1,620 | +€59 | +3.8% |
| Trade debts | 44 | €16,190 | €6,189 | -€10,001 | -61.8% |
| Suppliers | 440/4 | €16,190 | €6,189 | -€10,001 | -61.8% |
| Taxes, remuneration and social security | 45 | €6,505 | €10,581 | +€4,077 | +62.7% |
| Taxes | 450/3 | €6,505 | €10,581 | +€4,077 | +62.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,627 | €3,953 | +€1,326 | +50.5% |
| Other operating charges | 640/8 | €798 | €780 | -€19 | -2.3% |
| Gross operating margin | 9900 | €18,151 | €25,443 | +€7,293 | +40.2% |
| Operating profit (loss) | 9901 | €14,725 | €20,710 | +€5,985 | +40.6% |
| Financial income | 75/76B | - | €10 | +€10 | |
| Recurring financial income | 75 | - | €10 | +€10 | |
| Financial charges | 65/66B | €1,202 | €735 | -€467 | -38.9% |
| Recurring financial charges | 65 | €1,202 | €735 | -€467 | -38.9% |
| Profit (loss) for the period before taxes | 9903 | €13,523 | €19,985 | +€6,462 | +47.8% |
| Income taxes | 67/77 | €3,995 | €6,586 | +€2,591 | +64.8% |
| Profit (loss) for the period | 9904 | €9,527 | €13,399 | +€3,872 | +40.6% |
| Profit (loss) for the period to be appropriated | 9905 | €9,527 | €13,399 | +€3,872 | +40.6% |
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 23 October 2026 via checked.be.