ALFA TIME: 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 TIME
Largest movements
- Cash -€9,196
down €9,196 (-24.8%), from €37,031 to €27,836
mainly Contributions, distributions and other (-€10,353) and Other debts (-€3,491)
- Deferred charges and accrued income -€3,355
down €3,355 (-100%), from €3,355 to €0
- Reserves -€9,671
down €9,671 (-46.4%), from €20,842 to €11,170
of which Distributable reserves: -€9,671
- Other debts -€3,491
down €3,491 (-9.4%), from €37,008 to €33,517
- Tax, wage and social debts -€2,468
down €2,468 (-58.9%), from €4,187 to €1,719
- Trade debts +€2,199
up €2,199 (+55.5%), from €3,962 to €6,161
- Gross operating margin -€1,796
down €1,796 (-10.2%), from €17,656 to €15,860
- Other operating charges -€998
down €998 (-30.6%), from €3,267 to €2,269
- Financial charges -€897
down €897 (-14.8%), from €6,039 to €5,143
- Taxes +€698
up €698 (+18.5%), from €3,773 to €4,471
- Depreciation -€324
down €324 (-8.4%), from €3,875 to €3,551
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 | €72,233 | €58,768 | -€13,466 | -18.6% |
| Fixed assets | 21/28 | €15,188 | €14,930 | -€258 | -1.7% |
| Tangible fixed assets | 22/27 | €15,188 | €14,930 | -€258 | -1.7% |
| Plant, machinery and equipment | 23 | €1,725 | €1,330 | -€394 | -22.9% |
| Furniture and vehicles | 24 | €8,675 | €9,332 | +€657 | +7.6% |
| Other tangible fixed assets | 26 | €4,788 | €4,268 | -€520 | -10.9% |
| Current assets | 29/58 | €57,045 | €43,837 | -€13,208 | -23.2% |
| Amounts receivable within one year | 40/41 | €16,659 | €16,002 | -€657 | -3.9% |
| Trade receivables | 40 | €14,174 | €6,212 | -€7,962 | -56.2% |
| Other amounts receivable | 41 | €2,485 | €9,790 | +€7,305 | +294% |
| Cash at bank and in hand | 54/58 | €37,031 | €27,836 | -€9,196 | -24.8% |
| Deferred charges and accrued income | 490/1 | €3,355 | €0 | -€3,355 | -100% |
| Total equity and liabilities | 10/49 | €72,233 | €58,768 | -€13,466 | -18.6% |
| Equity | 10/15 | €27,042 | €17,370 | -€9,671 | -35.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €20,842 | €11,170 | -€9,671 | -46.4% |
| 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 | €18,982 | €9,310 | -€9,671 | -50.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €45,192 | €41,397 | -€3,795 | -8.4% |
| Amounts payable within one year | 42/48 | €45,192 | €41,397 | -€3,795 | -8.4% |
| Financial debts | 43 | €34 | €0 | -€34 | -100% |
| Credit institutions | 430/8 | €34 | €0 | -€34 | -100% |
| Trade debts | 44 | €3,962 | €6,161 | +€2,199 | +55.5% |
| Suppliers | 440/4 | €3,962 | €6,161 | +€2,199 | +55.5% |
| Taxes, remuneration and social security | 45 | €4,187 | €1,719 | -€2,468 | -58.9% |
| Taxes | 450/3 | €4,187 | €1,719 | -€2,468 | -58.9% |
| Other amounts payable | 47/48 | €37,008 | €33,517 | -€3,491 | -9.4% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,875 | €3,551 | -€324 | -8.4% |
| Other operating charges | 640/8 | €3,267 | €2,269 | -€998 | -30.6% |
| Gross operating margin | 9900 | €17,656 | €15,860 | -€1,796 | -10.2% |
| Operating profit (loss) | 9901 | €10,514 | €10,040 | -€474 | -4.5% |
| Financial income | 75/76B | €112 | €256 | +€144 | +129% |
| Recurring financial income | 75 | €112 | €256 | +€144 | +129% |
| Financial charges | 65/66B | €6,039 | €5,143 | -€897 | -14.8% |
| Recurring financial charges | 65 | €6,039 | €5,143 | -€897 | -14.8% |
| Profit (loss) for the period before taxes | 9903 | €4,586 | €5,153 | +€567 | +12.4% |
| Income taxes | 67/77 | €3,773 | €4,471 | +€698 | +18.5% |
| Profit (loss) for the period | 9904 | €813 | €682 | -€131 | -16.1% |
| Profit (loss) for the period to be appropriated | 9905 | €813 | €682 | -€131 | -16.1% |
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 14 October 2026 via checked.be.