ALFA Vastgoed: 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 Vastgoed
Largest movements
- Tangible fixed assets +€29,858
up €29,858 (+677%), from €4,412 to €34,271
- Cash -€25,565
down €25,565 (-25.9%), from €98,538 to €72,972
mainly Investment in fixed assets (net) (-€37,688) and Current investments (-€23,333)
- Current investments +€23,333
new in 2025: €23,333
- Receivables within one year +€2,559
up €2,559 (+22.0%), from €11,658 to €14,217
of which Other amounts receivable: +€1,710
- Profit (loss) carried forward +€15,792
up €15,792 (+18.8%), from €83,797 to €99,589
- Other debts +€9,730
up €9,730 (+140%), from €6,938 to €16,668
- Tax, wage and social debts +€3,751
up €3,751 (+12.3%), from €30,416 to €34,168
- Gross operating margin -€73,003
down €73,003 (-70.5%), from €103,537 to €30,534
- Taxes -€19,980
down €19,980 (-76.9%), from €25,973 to €5,994
- Depreciation +€6,691
up €6,691 (+293%), from €2,283 to €8,974
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 | €124,676 | €153,718 | +€29,041 | +23.3% |
| Fixed assets | 21/28 | €14,480 | €43,195 | +€28,714 | +198% |
| Intangible fixed assets | 21 | €10,068 | €8,924 | -€1,144 | -11.4% |
| Tangible fixed assets | 22/27 | €4,412 | €34,271 | +€29,858 | +677% |
| Furniture and vehicles | 24 | €4,412 | €34,271 | +€29,858 | +677% |
| Current assets | 29/58 | €110,196 | €110,523 | +€327 | +0.3% |
| Amounts receivable within one year | 40/41 | €11,658 | €14,217 | +€2,559 | +22.0% |
| Trade receivables | 40 | €11,658 | €12,507 | +€849 | +7.3% |
| Other amounts receivable | 41 | - | €1,710 | +€1,710 | |
| Current investments | 50/53 | - | €23,333 | +€23,333 | |
| Cash at bank and in hand | 54/58 | €98,538 | €72,972 | -€25,565 | -25.9% |
| Total equity and liabilities | 10/49 | €124,676 | €153,718 | +€29,041 | +23.3% |
| Equity | 10/15 | €86,797 | €102,589 | +€15,792 | +18.2% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €83,797 | €99,589 | +€15,792 | +18.8% |
| Amounts payable | 17/49 | €37,879 | €51,128 | +€13,249 | +35.0% |
| Amounts payable within one year | 42/48 | €37,879 | €51,128 | +€13,249 | +35.0% |
| Trade debts | 44 | €524 | €293 | -€232 | -44.2% |
| Suppliers | 440/4 | €524 | €293 | -€232 | -44.2% |
| Taxes, remuneration and social security | 45 | €30,416 | €34,168 | +€3,751 | +12.3% |
| Taxes | 450/3 | €30,416 | €34,168 | +€3,751 | +12.3% |
| Other amounts payable | 47/48 | €6,938 | €16,668 | +€9,730 | +140% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,283 | €8,974 | +€6,691 | +293% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | €103,537 | €30,534 | -€73,003 | -70.5% |
| Operating profit (loss) | 9901 | €100,867 | €21,161 | -€79,706 | -79.0% |
| Financial income | 75/76B | €51 | €695 | +€644 | +1,262% |
| Recurring financial income | 75 | €51 | €695 | +€644 | +1,262% |
| Financial charges | 65/66B | €108 | €70 | -€38 | -35.0% |
| Recurring financial charges | 65 | €108 | €70 | -€38 | -35.0% |
| Profit (loss) for the period before taxes | 9903 | €100,810 | €21,786 | -€79,025 | -78.4% |
| Income taxes | 67/77 | €25,973 | €5,994 | -€19,980 | -76.9% |
| Profit (loss) for the period | 9904 | €74,837 | €15,792 | -€59,045 | -78.9% |
| Profit (loss) for the period to be appropriated | 9905 | €74,837 | €15,792 | -€59,045 | -78.9% |
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 31 October 2026 via checked.be.