ALFA Z: 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 Z
Largest movements
- Cash -€87,445
down €87,445 (-63.7%), from €137,213 to €49,768
mainly Investment in fixed assets (net) (-€102,300) and Net result for the year (-€57,974)
- Tangible fixed assets +€68,071
up €68,071 (+137%), from €49,552 to €117,622
of which Plant, machinery and equipment: +€53,477
- Receivables within one year -€18,984
down €18,984 (-82.2%), from €23,096 to €4,112
of which Trade receivables: -€19,337
- Financial fixed assets +€5,824
up €5,824 (+146%), from €3,976 to €9,799
- Profit (loss) carried forward -€57,974
down €57,974 (-31.4%), from €184,787 to €126,813
- Tax, wage and social debts +€14,195
up €14,195 (+52.4%), from €27,089 to €41,284
of which Remuneration and social security: +€16,707
- Trade debts +€12,004
up €12,004 (+174%), from €6,903 to €18,907
- Staff costs +€224,646
up €224,646 (+167%), from €134,605 to €359,252
- Gross operating margin +€120,622
up €120,622 (+56.7%), from €212,872 to €333,494
- Taxes -€16,600
down €16,600 (-99.2%), from €16,738 to €138
- Depreciation +€11,016
up €11,016 (+63.3%), from €17,390 to €28,406
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 | €248,058 | €216,282 | -€31,775 | -12.8% |
| Fixed assets | 21/28 | €53,527 | €127,421 | +€73,894 | +138% |
| Tangible fixed assets | 22/27 | €49,552 | €117,622 | +€68,071 | +137% |
| Plant, machinery and equipment | 23 | €41,388 | €94,865 | +€53,477 | +129% |
| Furniture and vehicles | 24 | €8,164 | €22,757 | +€14,594 | +179% |
| Financial fixed assets | 28 | €3,976 | €9,799 | +€5,824 | +146% |
| Current assets | 29/58 | €194,531 | €88,861 | -€105,669 | -54.3% |
| Stocks and contracts in progress | 3 | €31,630 | €33,094 | +€1,464 | +4.6% |
| Stocks | 30/36 | €31,630 | €33,094 | +€1,464 | +4.6% |
| Amounts receivable within one year | 40/41 | €23,096 | €4,112 | -€18,984 | -82.2% |
| Trade receivables | 40 | €21,373 | €2,035 | -€19,337 | -90.5% |
| Other amounts receivable | 41 | €1,723 | €2,076 | +€353 | +20.5% |
| Cash at bank and in hand | 54/58 | €137,213 | €49,768 | -€87,445 | -63.7% |
| Deferred charges and accrued income | 490/1 | €2,592 | €1,887 | -€705 | -27.2% |
| Total equity and liabilities | 10/49 | €248,058 | €216,282 | -€31,775 | -12.8% |
| Equity | 10/15 | €205,238 | €147,264 | -€57,974 | -28.2% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €1,859 | €1,859 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | €184,787 | €126,813 | -€57,974 | -31.4% |
| Amounts payable | 17/49 | €42,820 | €69,018 | +€26,199 | +61.2% |
| Amounts payable within one year | 42/48 | €42,820 | €69,018 | +€26,199 | +61.2% |
| Trade debts | 44 | €6,903 | €18,907 | +€12,004 | +174% |
| Suppliers | 440/4 | €6,903 | €18,907 | +€12,004 | +174% |
| Taxes, remuneration and social security | 45 | €27,089 | €41,284 | +€14,195 | +52.4% |
| Taxes | 450/3 | €11,621 | €9,110 | -€2,512 | -21.6% |
| Remuneration and social security | 454/9 | €15,467 | €32,174 | +€16,707 | +108% |
| Other amounts payable | 47/48 | €8,828 | €8,828 | = | 0.0% |
| Non-recurring operating income | 76A | - | €2,930 | +€2,930 | |
| Remuneration, social security and pensions | 62 | €134,605 | €359,252 | +€224,646 | +167% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,390 | €28,406 | +€11,016 | +63.3% |
| Other operating charges | 640/8 | €2,803 | €2,515 | -€288 | -10.3% |
| Gross operating margin | 9900 | €212,872 | €333,494 | +€120,622 | +56.7% |
| Operating profit (loss) | 9901 | €58,074 | -€56,679 | -€114,753 | |
| Financial income | 75/76B | €1,768 | €1,795 | +€27 | +1.6% |
| Recurring financial income | 75 | €1,768 | €1,795 | +€27 | +1.6% |
| Financial charges | 65/66B | €2,173 | €2,953 | +€780 | +35.9% |
| Recurring financial charges | 65 | €2,173 | €2,953 | +€780 | +35.9% |
| Profit (loss) for the period before taxes | 9903 | €57,669 | -€57,837 | -€115,506 | |
| Income taxes | 67/77 | €16,738 | €138 | -€16,600 | -99.2% |
| Profit (loss) for the period | 9904 | €40,931 | -€57,974 | -€98,905 | |
| Profit (loss) for the period to be appropriated | 9905 | €40,931 | -€57,974 | -€98,905 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.