Alfanet: 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.
Alfanet
Largest movements
- Tangible fixed assets -€7,223
down €7,223 (-29.5%), from €24,519 to €17,295
of which Furniture and vehicles: -€5,233
- Cash +€5,697
up €5,697 (+19.0%), from €29,984 to €35,681
mainly Tax, wage and social debts (+€10,621) and Net result for the year (+€10,522)
- Financial fixed assets +€5,484
new in 2025: €5,484
- Receivables within one year +€4,082
up €4,082 (+27.6%), from €14,771 to €18,853
of which Trade receivables: +€4,309
- Debts after one year -€14,406
down €14,406 (-76.0%), from €18,962 to €4,556
- Tax, wage and social debts +€10,621
up €10,621 (+52.6%), from €20,198 to €30,819
of which Remuneration and social security: +€10,020
- Profit (loss) carried forward +€10,522
up €10,522 (+15.6%), from -€67,340 to -€56,818
- Current portion of long-term debt +€4,262
up €4,262 (+250%), from €1,707 to €5,969
- Trade debts -€3,039
down €3,039 (-7.9%), from €38,609 to €35,569
- Gross operating margin +€43,646
up €43,646 (+111%), from €39,286 to €82,932
- Depreciation +€4,718
up €4,718 (+188%), from €2,506 to €7,223
- Taxes +€2,160
up €2,160 (+202%), from €1,067 to €3,227
- Financial charges -€1,567
down €1,567 (-19.0%), from €8,233 to €6,666
- Other operating charges -€1,461
down €1,461 (-22.0%), from €6,636 to €5,174
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 | €72,232 | €79,512 | +€7,280 | +10.1% |
| Fixed assets | 21/28 | €24,519 | €22,779 | -€1,739 | -7.1% |
| Tangible fixed assets | 22/27 | €24,519 | €17,295 | -€7,223 | -29.5% |
| Plant, machinery and equipment | 23 | €4,707 | €2,717 | -€1,991 | -42.3% |
| Furniture and vehicles | 24 | €19,812 | €14,579 | -€5,233 | -26.4% |
| Financial fixed assets | 28 | - | €5,484 | +€5,484 | |
| Current assets | 29/58 | €47,713 | €56,732 | +€9,019 | +18.9% |
| Stocks and contracts in progress | 3 | €152 | €152 | = | 0.0% |
| Stocks | 30/36 | €152 | €152 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €14,771 | €18,853 | +€4,082 | +27.6% |
| Trade receivables | 40 | €14,544 | €18,853 | +€4,309 | +29.6% |
| Other amounts receivable | 41 | €227 | - | -€227 | |
| Cash at bank and in hand | 54/58 | €29,984 | €35,681 | +€5,697 | +19.0% |
| Deferred charges and accrued income | 490/1 | €2,806 | €2,046 | -€760 | -27.1% |
| Total equity and liabilities | 10/49 | €72,232 | €79,512 | +€7,280 | +10.1% |
| Equity | 10/15 | -€37,922 | -€27,400 | +€10,522 | +27.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €10,818 | €10,818 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Own shares acquired | 1312 | - | €1,860 | +€1,860 | |
| Other | 1319 | €1,860 | - | -€1,860 | |
| Distributable reserves | 133 | €8,958 | €8,958 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€67,340 | -€56,818 | +€10,522 | +15.6% |
| Amounts payable | 17/49 | €110,155 | €106,912 | -€3,242 | -2.9% |
| Amounts payable after more than one year | 17 | €18,962 | €4,556 | -€14,406 | -76.0% |
| Financial debts | 170/4 | €18,962 | €4,556 | -€14,406 | -76.0% |
| Amounts payable within one year | 42/48 | €90,514 | €102,357 | +€11,843 | +13.1% |
| Current portion of amounts payable after more than one year | 42 | €1,707 | €5,969 | +€4,262 | +250% |
| Financial debts | 43 | €30,000 | €30,000 | = | 0.0% |
| Credit institutions | 430/8 | €30,000 | €30,000 | = | 0.0% |
| Trade debts | 44 | €38,609 | €35,569 | -€3,039 | -7.9% |
| Suppliers | 440/4 | €38,609 | €35,569 | -€3,039 | -7.9% |
| Taxes, remuneration and social security | 45 | €20,198 | €30,819 | +€10,621 | +52.6% |
| Taxes | 450/3 | €9,652 | €10,253 | +€600 | +6.2% |
| Remuneration and social security | 454/9 | €10,546 | €20,566 | +€10,020 | +95.0% |
| Accrued charges and deferred income | 492/3 | €679 | - | -€679 | |
| Remuneration, social security and pensions | 62 | €48,753 | €50,173 | +€1,420 | +2.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,506 | €7,223 | +€4,718 | +188% |
| Other operating charges | 640/8 | €6,636 | €5,174 | -€1,461 | -22.0% |
| Gross operating margin | 9900 | €39,286 | €82,932 | +€43,646 | +111% |
| Operating profit (loss) | 9901 | -€18,608 | €20,362 | +€38,970 | |
| Financial income | 75/76B | €66 | €53 | -€13 | -19.2% |
| Recurring financial income | 75 | €66 | €53 | -€13 | -19.2% |
| Financial charges | 65/66B | €8,233 | €6,666 | -€1,567 | -19.0% |
| Recurring financial charges | 65 | €8,233 | €6,666 | -€1,567 | -19.0% |
| Profit (loss) for the period before taxes | 9903 | -€26,775 | €13,749 | +€40,524 | |
| Income taxes | 67/77 | €1,067 | €3,227 | +€2,160 | +202% |
| Profit (loss) for the period | 9904 | -€27,842 | €10,522 | +€38,364 | |
| Profit (loss) for the period to be appropriated | 9905 | -€27,842 | €10,522 | +€38,364 |
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 19 October 2026 via checked.be.