ALFAFOCUS: 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.
ALFAFOCUS
Largest movements
- Cash +€28,293
up €28,293 (+108.5%), from €26,080 to €54,374
mainly Debts after one year (+€30,000) and Depreciation (+€13,927)
- Tangible fixed assets -€13,927
down €13,927 (-22.3%), from €62,514 to €48,588
of which Furniture and vehicles: -€13,326
- Stocks and contracts -€1,298
down €1,298 (-20.4%), from €6,374 to €5,077
- Debts after one year +€30,000
new in 2025: €30,000
- Other debts -€26,563
down €26,563 (-86.6%), from €30,680 to €4,117
- Reserves +€7,858
up €7,858 (+12.7%), from €61,783 to €69,641
- Trade debts +€1,764
new in 2025: €1,764
- Depreciation +€2,564
up €2,564 (+22.6%), from €11,363 to €13,927
- Taxes -€2,037
down €2,037 (-39.0%), from €5,225 to €3,188
- Financial charges +€961
up €961 (+160.8%), from €598 to €1,559
- Other operating charges +€502
up €502 (+45.2%), from €1,109 to €1,611
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.
Cash bridge derived
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 | €99,285 | €113,147 | +€13,862 | +14.0% |
| Fixed assets | 21/28 | €63,045 | €49,119 | -€13,927 | -22.1% |
| Tangible fixed assets | 22/27 | €62,514 | €48,588 | -€13,927 | -22.3% |
| Plant, machinery and equipment | 23 | €4,061 | €3,460 | -€600 | -14.8% |
| Furniture and vehicles | 24 | €58,454 | €45,127 | -€13,326 | -22.8% |
| Financial fixed assets | 28 | €531 | €531 | = | 0.0% |
| Current assets | 29/58 | €36,240 | €64,028 | +€27,788 | +76.7% |
| Stocks and contracts in progress | 3 | €6,374 | €5,077 | -€1,298 | -20.4% |
| Stocks | 30/36 | €6,374 | €5,077 | -€1,298 | -20.4% |
| Amounts receivable within one year | 40/41 | €2,872 | €2,735 | -€138 | -4.8% |
| Trade receivables | 40 | €2,506 | €511 | -€1,995 | -79.6% |
| Other amounts receivable | 41 | €366 | €2,223 | +€1,857 | +507.3% |
| Cash at bank and in hand | 54/58 | €26,080 | €54,374 | +€28,293 | +108.5% |
| Deferred charges and accrued income | 490/1 | €913 | €1,843 | +€930 | +101.9% |
| Total equity and liabilities | 10/49 | €99,285 | €113,147 | +€13,862 | +14.0% |
| Equity | 10/15 | €67,983 | €75,841 | +€7,858 | +11.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €61,783 | €69,641 | +€7,858 | +12.7% |
| Distributable reserves | 133 | €61,783 | €69,641 | +€7,858 | +12.7% |
| Amounts payable | 17/49 | €31,302 | €37,306 | +€6,003 | +19.2% |
| Amounts payable after more than one year | 17 | - | €30,000 | +€30,000 | |
| Financial debts | 170/4 | - | €30,000 | +€30,000 | |
| Amounts payable within one year | 42/48 | €31,115 | €6,106 | -€25,009 | -80.4% |
| Trade debts | 44 | - | €1,764 | +€1,764 | |
| Suppliers | 440/4 | - | €1,764 | +€1,764 | |
| Taxes, remuneration and social security | 45 | €435 | €225 | -€210 | -48.2% |
| Taxes | 450/3 | €435 | €225 | -€210 | -48.2% |
| Other amounts payable | 47/48 | €30,680 | €4,117 | -€26,563 | -86.6% |
| Accrued charges and deferred income | 492/3 | €187 | €1,200 | +€1,013 | +540.2% |
| Non-recurring operating income | 76A | €7,187 | - | -€7,187 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,363 | €13,927 | +€2,564 | +22.6% |
| Other operating charges | 640/8 | €1,109 | €1,611 | +€502 | +45.2% |
| Gross operating margin | 9900 | €28,337 | €28,143 | -€194 | -0.7% |
| Operating profit (loss) | 9901 | €15,865 | €12,605 | -€3,260 | -20.5% |
| Financial income | 75/76B | €4 | - | -€4 | |
| Recurring financial income | 75 | €4 | - | -€4 | |
| Financial charges | 65/66B | €598 | €1,559 | +€961 | +160.8% |
| Recurring financial charges | 65 | €598 | €1,559 | +€961 | +160.8% |
| Profit (loss) for the period before taxes | 9903 | €15,271 | €11,046 | -€4,225 | -27.7% |
| Income taxes | 67/77 | €5,225 | €3,188 | -€2,037 | -39.0% |
| Profit (loss) for the period | 9904 | €10,046 | €7,858 | -€2,188 | -21.8% |
| Profit (loss) for the period to be appropriated | 9905 | €10,046 | €7,858 | -€2,188 | -21.8% |
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 12 October 2026 via checked.be.