ALFAMED: 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.
ALFAMED
Largest movements
- Cash -€57,371
down €57,371 (-24.0%), from €239,527 to €182,156
mainly Contributions, distributions and other (-€817,536) and Debts after one year (-€30,000)
- Tangible fixed assets -€34,385
down €34,385 (-6.2%), from €554,385 to €520,000
of which Land and buildings: -€31,365
- Current investments +€25,000
up €25,000 (+12.5%), from €200,000 to €225,000
- Reserves -€341,354
down €341,354 (-46.4%), from €736,190 to €394,836
- Other debts +€334,146
up €334,146 (+69.1%), from €483,391 to €817,536
- Debts after one year -€30,000
down €30,000 (-48.0%), from €62,500 to €32,500
- Tax, wage and social debts -€21,610
down €21,610 (-28.2%), from €76,507 to €54,896
- Gross operating margin -€13,128
down €13,128 (-1.9%), from €701,329 to €688,201
- Financial income +€8,205
up €8,205 (+71.6%), from €11,464 to €19,669
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 | €1,455,213 | €1,388,735 | -€66,478 | -4.6% |
| Fixed assets | 21/28 | €554,385 | €520,000 | -€34,385 | -6.2% |
| Tangible fixed assets | 22/27 | €554,385 | €520,000 | -€34,385 | -6.2% |
| Land and buildings | 22 | €517,775 | €486,410 | -€31,365 | -6.1% |
| Plant, machinery and equipment | 23 | €16,555 | €12,466 | -€4,089 | -24.7% |
| Furniture and vehicles | 24 | €20,055 | €21,124 | +€1,069 | +5.3% |
| Current assets | 29/58 | €900,828 | €868,735 | -€32,094 | -3.6% |
| Amounts receivable within one year | 40/41 | €312,747 | €319,082 | +€6,335 | +2.0% |
| Trade receivables | 40 | €5,247 | €774 | -€4,473 | -85.2% |
| Other amounts receivable | 41 | €307,500 | €318,307 | +€10,808 | +3.5% |
| Current investments | 50/53 | €200,000 | €225,000 | +€25,000 | +12.5% |
| Cash at bank and in hand | 54/58 | €239,527 | €182,156 | -€57,371 | -24.0% |
| Deferred charges and accrued income | 490/1 | €148,555 | €142,497 | -€6,058 | -4.1% |
| Total equity and liabilities | 10/49 | €1,455,213 | €1,388,735 | -€66,478 | -4.6% |
| Equity | 10/15 | €791,990 | €450,636 | -€341,354 | -43.1% |
| Contributions | 10/11 | €55,800 | €55,800 | = | 0.0% |
| Reserves | 13 | €736,190 | €394,836 | -€341,354 | -46.4% |
| Distributable reserves | 133 | €736,190 | €394,836 | -€341,354 | -46.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €663,223 | €938,099 | +€274,876 | +41.4% |
| Amounts payable after more than one year | 17 | €62,500 | €32,500 | -€30,000 | -48.0% |
| Financial debts | 170/4 | €62,500 | €32,500 | -€30,000 | -48.0% |
| Amounts payable within one year | 42/48 | €600,723 | €905,599 | +€304,876 | +50.8% |
| Current portion of amounts payable after more than one year | 42 | €30,000 | €30,000 | = | 0.0% |
| Trade debts | 44 | €10,825 | €3,166 | -€7,659 | -70.8% |
| Suppliers | 440/4 | €10,825 | €3,166 | -€7,659 | -70.8% |
| Taxes, remuneration and social security | 45 | €76,507 | €54,896 | -€21,610 | -28.2% |
| Taxes | 450/3 | €76,507 | €54,896 | -€21,610 | -28.2% |
| Other amounts payable | 47/48 | €483,391 | €817,536 | +€334,146 | +69.1% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €6,386 | €9,128 | +€2,742 | +42.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €50,053 | €48,373 | -€1,681 | -3.4% |
| Other operating charges | 640/8 | €8,215 | €13,255 | +€5,040 | +61.4% |
| Gross operating margin | 9900 | €701,329 | €688,201 | -€13,128 | -1.9% |
| Operating profit (loss) | 9901 | €636,675 | €617,446 | -€19,229 | -3.0% |
| Financial income | 75/76B | €11,464 | €19,669 | +€8,205 | +71.6% |
| Recurring financial income | 75 | €11,464 | €19,669 | +€8,205 | +71.6% |
| Financial charges | 65/66B | €5,683 | €4,087 | -€1,596 | -28.1% |
| Recurring financial charges | 65 | €5,683 | €4,087 | -€1,596 | -28.1% |
| Profit (loss) for the period before taxes | 9903 | €642,455 | €633,028 | -€9,428 | -1.5% |
| Income taxes | 67/77 | €159,065 | €156,846 | -€2,219 | -1.4% |
| Profit (loss) for the period | 9904 | €483,391 | €476,182 | -€7,209 | -1.5% |
| Profit (loss) for the period to be appropriated | 9905 | €483,391 | €476,182 | -€7,209 | -1.5% |
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 11 October 2026 via checked.be.