ALFAIA: what changed
Two fiscal 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.
ALFAIA
Largest movements
- Tangible fixed assets -€75,000
down €75,000 (-30.0%), from €250,000 to €175,000
- Cash -€46,714
down €46,714 (-82.9%), from €56,373 to €9,659
mainly Debts after one year (-€180,000) and Tax, wage and social debts (-€12,391)
- Stocks and contracts -€32,759
no longer reported in 2025 (was €32,759)
- Receivables within one year -€30,008
down €30,008 (-66.9%), from €44,867 to €14,859
- Debts after one year -€180,000
down €180,000 (-59.1%), from €304,450 to €124,450
- Tax, wage and social debts -€12,391
down €12,391 (-90.7%), from €13,656 to €1,265
- Accrued charges and deferred income +€6,113
up €6,113 (+11.2%), from €54,570 to €60,683
- Other operating charges +€31,490
up €31,490 (+8129.9%), from €387 to €31,878
- Gross operating margin +€28,936
up €28,936 (+52.3%), from €55,320 to €84,256
- Depreciation -€6,250
down €6,250 (-12.5%), from €50,000 to €43,750
- Financial charges -€6,113
down €6,113 (-47.2%), from €12,945 to €6,831
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 | €383,999 | €199,518 | -€184,481 | -48.0% |
| Fixed assets | 21/28 | €250,000 | €175,000 | -€75,000 | -30.0% |
| Tangible fixed assets | 22/27 | €250,000 | €175,000 | -€75,000 | -30.0% |
| Furniture and vehicles | 24 | €250,000 | €175,000 | -€75,000 | -30.0% |
| Current assets | 29/58 | €133,999 | €24,518 | -€109,481 | -81.7% |
| Stocks and contracts in progress | 3 | €32,759 | - | -€32,759 | |
| Stocks | 30/36 | €32,759 | - | -€32,759 | |
| Amounts receivable within one year | 40/41 | €44,867 | €14,859 | -€30,008 | -66.9% |
| Trade receivables | 40 | €44,867 | €14,859 | -€30,008 | -66.9% |
| Cash at bank and in hand | 54/58 | €56,373 | €9,659 | -€46,714 | -82.9% |
| Total equity and liabilities | 10/49 | €383,999 | €199,518 | -€184,481 | -48.0% |
| Equity | 10/15 | €11,163 | €12,960 | +€1,797 | +16.1% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €8,000 | €8,000 | = | 0.0% |
| Distributable reserves | 133 | €8,000 | €8,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€6,837 | -€5,040 | +€1,797 | +26.3% |
| Amounts payable | 17/49 | €372,836 | €186,558 | -€186,278 | -50.0% |
| Amounts payable after more than one year | 17 | €304,450 | €124,450 | -€180,000 | -59.1% |
| Financial debts | 170/4 | €304,450 | €124,450 | -€180,000 | -59.1% |
| Amounts payable within one year | 42/48 | €13,817 | €1,426 | -€12,391 | -89.7% |
| Taxes, remuneration and social security | 45 | €13,656 | €1,265 | -€12,391 | -90.7% |
| Taxes | 450/3 | €13,656 | €1,265 | -€12,391 | -90.7% |
| Other amounts payable | 47/48 | €161 | €161 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €54,570 | €60,683 | +€6,113 | +11.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €50,000 | €43,750 | -€6,250 | -12.5% |
| Other operating charges | 640/8 | €387 | €31,878 | +€31,490 | +8129.9% |
| Gross operating margin | 9900 | €55,320 | €84,256 | +€28,936 | +52.3% |
| Operating profit (loss) | 9901 | €4,932 | €8,628 | +€3,696 | +74.9% |
| Financial charges | 65/66B | €12,945 | €6,831 | -€6,113 | -47.2% |
| Recurring financial charges | 65 | €12,945 | €6,831 | -€6,113 | -47.2% |
| Profit (loss) for the period before taxes | 9903 | -€8,012 | €1,797 | +€9,809 | |
| Profit (loss) for the period | 9904 | -€8,012 | €1,797 | +€9,809 | |
| Profit (loss) for the period to be appropriated | 9905 | -€8,012 | €1,797 | +€9,809 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.