ALFANO S.A.: 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.
What changed
ALFANO S.A.
NACE 26.520, Manufacture of computer, electronic and optical products
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€82,629
2024 · €171,260-€88,632
Equity
€944,287
2024 · €861,658+€82,629
Cash
€662,444
2024 · €577,020+€85,424
Balance sheet total
€2.1m
2024 · €2.1m+€12,458
Largest movements
Assets
- Cash +€85,424
up €85,424 (+14.8%), from €577,020 to €662,444
mainly Depreciation (+€115,851) and Net result for the year (+€82,629)
- Receivables within one year -€55,463
down €55,463 (-27.9%), from €198,826 to €143,363
of which Trade receivables: -€53,500
- Stocks and contracts -€40,000
down €40,000 (-7.3%), from €545,000 to €505,000
Equity and liabilities
- Reserves +€82,629
up €82,629 (+10.3%), from €799,658 to €882,287
of which Distributable reserves: +€82,629
- Other debts -€56,636
down €56,636 (-11.6%), from €488,456 to €431,820
- Trade debts -€28,648
down €28,648 (-12.2%), from €234,372 to €205,724
Income statement
- Gross operating margin +€83,451
up €83,451 (+10.8%), from €770,487 to €853,938
- Staff costs +€72,483
up €72,483 (+15.7%), from €460,581 to €533,064
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.
Result 2024
€171,260
Gross operating margin
+€83,451
Staff costs
-€72,483
Depreciation
-€709
Other operating charges
+€139
Other operating items
-€91,390
Financial income
-€3,067
Financial charges
-€4,920
Taxes
+€346
Result 2025
€82,629
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€209,921
Investment
-€125,867
Financing
+€1,369
Cash 2024
€577,020
From operations (derived)
+€209,921
Net result for the year
+€82,629
Depreciation
+€115,851
Stocks and contracts
+€40,000
Receivables within one year
+€55,463
Deferred charges and accrued income
-€12,482
Trade debts
-€28,648
Tax, wage and social debts
+€13,395
Other debts
-€56,636
Accrued charges and deferred income
+€349
Investment (derived)
-€125,867
Investment in fixed assets (net)
-€125,867
Financing
+€1,369
Debts after one year
-€17,064
Current portion of long-term debt
+€18,433
Cash 2025
€662,444
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,079,116 | €2,091,574 | +€12,458 | +0.6% |
| Fixed assets | 21/28 | €756,694 | €766,710 | +€10,015 | +1.3% |
| Tangible fixed assets | 22/27 | €756,595 | €766,610 | +€10,015 | +1.3% |
| Land and buildings | 22 | €413,758 | €429,933 | +€16,175 | +3.9% |
| Plant, machinery and equipment | 23 | €319,084 | €275,990 | -€43,095 | -13.5% |
| Furniture and vehicles | 24 | €23,753 | €60,687 | +€36,935 | +155% |
| Financial fixed assets | 28 | €99 | €99 | = | 0.0% |
| Current assets | 29/58 | €1,322,422 | €1,324,865 | +€2,443 | +0.2% |
| Stocks and contracts in progress | 3 | €545,000 | €505,000 | -€40,000 | -7.3% |
| Stocks | 30/36 | €545,000 | €505,000 | -€40,000 | -7.3% |
| Amounts receivable within one year | 40/41 | €198,826 | €143,363 | -€55,463 | -27.9% |
| Trade receivables | 40 | €190,510 | €137,010 | -€53,500 | -28.1% |
| Other amounts receivable | 41 | €8,316 | €6,353 | -€1,963 | -23.6% |
| Cash at bank and in hand | 54/58 | €577,020 | €662,444 | +€85,424 | +14.8% |
| Deferred charges and accrued income | 490/1 | €1,576 | €14,058 | +€12,482 | +792% |
| Total equity and liabilities | 10/49 | €2,079,116 | €2,091,574 | +€12,458 | +0.6% |
| Equity | 10/15 | €861,658 | €944,287 | +€82,629 | +9.6% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €799,658 | €882,287 | +€82,629 | +10.3% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €793,458 | €876,087 | +€82,629 | +10.4% |
| Amounts payable | 17/49 | €1,217,458 | €1,147,287 | -€70,170 | -5.8% |
| Amounts payable after more than one year | 17 | €380,624 | €363,560 | -€17,064 | -4.5% |
| Financial debts | 170/4 | €380,624 | €363,560 | -€17,064 | -4.5% |
| Amounts payable within one year | 42/48 | €832,636 | €779,181 | -€53,455 | -6.4% |
| Current portion of amounts payable after more than one year | 42 | €77,166 | €95,600 | +€18,433 | +23.9% |
| Trade debts | 44 | €234,372 | €205,724 | -€28,648 | -12.2% |
| Suppliers | 440/4 | €234,372 | €205,724 | -€28,648 | -12.2% |
| Taxes, remuneration and social security | 45 | €32,643 | €46,038 | +€13,395 | +41.0% |
| Taxes | 450/3 | €1,766 | €6,023 | +€4,257 | +241% |
| Remuneration and social security | 454/9 | €30,877 | €40,015 | +€9,138 | +29.6% |
| Other amounts payable | 47/48 | €488,456 | €431,820 | -€56,636 | -11.6% |
| Accrued charges and deferred income | 492/3 | €4,197 | €4,546 | +€349 | +8.3% |
| Non-recurring operating income | 76A | €2,032 | €24 | -€2,008 | -98.8% |
| Remuneration, social security and pensions | 62 | €460,581 | €533,064 | +€72,483 | +15.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €115,143 | €115,851 | +€709 | +0.6% |
| Other operating charges | 640/8 | €6,106 | €5,967 | -€139 | -2.3% |
| Non-recurring operating charges | 66A | - | €91,390 | +€91,390 | |
| Gross operating margin | 9900 | €770,487 | €853,938 | +€83,451 | +10.8% |
| Operating profit (loss) | 9901 | €188,658 | €107,666 | -€80,992 | -42.9% |
| Financial income | 75/76B | €3,325 | €258 | -€3,067 | -92.2% |
| Recurring financial income | 75 | €3,325 | €258 | -€3,067 | -92.2% |
| Financial charges | 65/66B | €19,143 | €24,063 | +€4,920 | +25.7% |
| Recurring financial charges | 65 | €19,038 | €23,407 | +€4,369 | +23.0% |
| Non-recurring financial charges | 66B | €105 | €655 | +€551 | +525% |
| Profit (loss) for the period before taxes | 9903 | €172,839 | €83,861 | -€88,978 | -51.5% |
| Income taxes | 67/77 | €1,579 | €1,233 | -€346 | -21.9% |
| Profit (loss) for the period | 9904 | €171,260 | €82,629 | -€88,632 | -51.8% |
| Profit (loss) for the period to be appropriated | 9905 | €171,260 | €82,629 | -€88,632 | -51.8% |
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 17 October 2026 via checked.be.