ALFA SYSTEMS: 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 SYSTEMS
Largest movements
- Cash +€203,617
up €203,617 (+874%), from €23,305 to €226,921
mainly Investment in fixed assets (net) (+€136,698) and Deferred charges and accrued income (+€32,032)
- Tangible fixed assets -€163,255
down €163,255 (-21.9%), from €744,146 to €580,891
of which Land and buildings: -€219,370
- Deferred charges and accrued income -€32,032
down €32,032 (-82.0%), from €39,062 to €7,030
- Stocks and contracts -€26,800
down €26,800 (-42.4%), from €63,265 to €36,465
- Receivables within one year -€21,005
down €21,005 (-26.1%), from €80,331 to €59,326
- Debts after one year -€51,603
down €51,603 (-10.1%), from €510,928 to €459,325
- Profit (loss) carried forward +€22,942
up €22,942 (+16.3%), from -€140,661 to -€117,719
- Tax, wage and social debts -€12,762
down €12,762 (-50.5%), from €25,274 to €12,512
of which Taxes: -€9,864
- Depreciation +€26,558
new in 2025: €26,558
- Staff costs -€22,026
down €22,026 (-79.0%), from €27,876 to €5,851
- Gross operating margin +€21,598
up €21,598 (+32.0%), from €67,590 to €89,188
- Write-downs +€11,663
new in 2025: €11,663
- Other operating charges -€1,994
down €1,994 (-13.1%), from €15,172 to €13,178
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 | €954,807 | €915,331 | -€39,476 | -4.1% |
| Fixed assets | 21/28 | €748,844 | €585,589 | -€163,255 | -21.8% |
| Tangible fixed assets | 22/27 | €744,146 | €580,891 | -€163,255 | -21.9% |
| Land and buildings | 22 | €744,146 | €524,776 | -€219,370 | -29.5% |
| Furniture and vehicles | 24 | - | €56,114 | +€56,114 | |
| Financial fixed assets | 28 | €4,698 | €4,698 | = | 0.0% |
| Current assets | 29/58 | €205,962 | €329,742 | +€123,780 | +60.1% |
| Stocks and contracts in progress | 3 | €63,265 | €36,465 | -€26,800 | -42.4% |
| Stocks | 30/36 | €63,265 | €36,465 | -€26,800 | -42.4% |
| Amounts receivable within one year | 40/41 | €80,331 | €59,326 | -€21,005 | -26.1% |
| Trade receivables | 40 | €80,331 | €59,326 | -€21,005 | -26.1% |
| Cash at bank and in hand | 54/58 | €23,305 | €226,921 | +€203,617 | +874% |
| Deferred charges and accrued income | 490/1 | €39,062 | €7,030 | -€32,032 | -82.0% |
| Total equity and liabilities | 10/49 | €954,807 | €915,331 | -€39,476 | -4.1% |
| Equity | 10/15 | -€26,792 | -€3,850 | +€22,942 | +85.6% |
| Contributions | 10/11 | €30,987 | €30,987 | = | 0.0% |
| Reserves | 13 | €82,882 | €82,882 | = | 0.0% |
| Non-distributable reserves | 130/1 | €3,099 | €3,099 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,099 | €3,099 | = | 0.0% |
| Distributable reserves | 133 | €79,784 | €79,784 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€140,661 | -€117,719 | +€22,942 | +16.3% |
| Amounts payable | 17/49 | €981,599 | €919,181 | -€62,418 | -6.4% |
| Amounts payable after more than one year | 17 | €510,928 | €459,325 | -€51,603 | -10.1% |
| Financial debts | 170/4 | €510,928 | €459,325 | -€51,603 | -10.1% |
| Amounts payable within one year | 42/48 | €459,473 | €451,149 | -€8,324 | -1.8% |
| Current portion of amounts payable after more than one year | 42 | €50,400 | €51,180 | +€780 | +1.5% |
| Trade debts | 44 | €9,675 | €4,097 | -€5,577 | -57.6% |
| Suppliers | 440/4 | €9,675 | €4,097 | -€5,577 | -57.6% |
| Taxes, remuneration and social security | 45 | €25,274 | €12,512 | -€12,762 | -50.5% |
| Taxes | 450/3 | €20,628 | €10,763 | -€9,864 | -47.8% |
| Remuneration and social security | 454/9 | €4,647 | €1,749 | -€2,898 | -62.4% |
| Other amounts payable | 47/48 | €374,124 | €383,359 | +€9,235 | +2.5% |
| Accrued charges and deferred income | 492/3 | €11,198 | €8,708 | -€2,490 | -22.2% |
| Non-recurring operating income | 76A | - | €57,638 | +€57,638 | |
| Remuneration, social security and pensions | 62 | €27,876 | €5,851 | -€22,026 | -79.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €26,558 | +€26,558 | |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €11,663 | +€11,663 | |
| Other operating charges | 640/8 | €15,172 | €13,178 | -€1,994 | -13.1% |
| Gross operating margin | 9900 | €67,590 | €89,188 | +€21,598 | +32.0% |
| Operating profit (loss) | 9901 | €24,542 | €31,939 | +€7,397 | +30.1% |
| Financial income | 75/76B | €0 | €113 | +€112 | +56,150% |
| Recurring financial income | 75 | €0 | €113 | +€112 | +56,150% |
| Financial charges | 65/66B | €9,648 | €8,922 | -€726 | -7.5% |
| Recurring financial charges | 65 | €9,648 | €8,922 | -€726 | -7.5% |
| Profit (loss) for the period before taxes | 9903 | €14,893 | €23,129 | +€8,236 | +55.3% |
| Income taxes | 67/77 | €181 | €187 | +€7 | +3.7% |
| Profit (loss) for the period | 9904 | €14,713 | €22,942 | +€8,229 | +55.9% |
| Profit (loss) for the period to be appropriated | 9905 | €14,713 | €22,942 | +€8,229 | +55.9% |
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 20 October 2026 via checked.be.