ALFAR: 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.
ALFAR
Largest movements
- Receivables within one year -€4,156
down €4,156 (-15.2%), from €27,340 to €23,183
of which Trade receivables: -€4,570
- Cash +€3,740
up €3,740 (+11.6%), from €32,363 to €36,103
mainly Receivables within one year (+€4,156) and Depreciation (+€3,158)
- Stocks and contracts -€738
down €738 (-17.9%), from €4,119 to €3,380
- Trade debts -€1,196
down €1,196 (-44.9%), from €2,665 to €1,470
- Gross operating margin +€6,433
up €6,433, from -€1,943 to €4,490
- Depreciation +€945
up €945 (+42.7%), from €2,214 to €3,158
- Staff costs +€138
new in 2025: €138
- Other operating charges +€133
up €133 (+17.8%), from €746 to €879
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 | €73,824 | €72,407 | -€1,417 | -1.9% |
| Fixed assets | 21/28 | €8,893 | €8,707 | -€186 | -2.1% |
| Tangible fixed assets | 22/27 | €8,893 | €8,707 | -€186 | -2.1% |
| Land and buildings | 22 | €5,882 | €5,790 | -€92 | -1.6% |
| Furniture and vehicles | 24 | €3,012 | €2,917 | -€95 | -3.1% |
| Current assets | 29/58 | €64,931 | €63,700 | -€1,231 | -1.9% |
| Stocks and contracts in progress | 3 | €4,119 | €3,380 | -€738 | -17.9% |
| Stocks | 30/36 | €4,119 | €3,380 | -€738 | -17.9% |
| Amounts receivable within one year | 40/41 | €27,340 | €23,183 | -€4,156 | -15.2% |
| Trade receivables | 40 | €10,049 | €5,479 | -€4,570 | -45.5% |
| Other amounts receivable | 41 | €17,291 | €17,704 | +€413 | +2.4% |
| Cash at bank and in hand | 54/58 | €32,363 | €36,103 | +€3,740 | +11.6% |
| Deferred charges and accrued income | 490/1 | €1,109 | €1,033 | -€76 | -6.9% |
| Total equity and liabilities | 10/49 | €73,824 | €72,407 | -€1,417 | -1.9% |
| Equity | 10/15 | €69,361 | €69,627 | +€266 | +0.4% |
| Contributions | 10/11 | €12,367 | €12,367 | = | 0.0% |
| Reserves | 13 | €1,855 | €1,855 | = | 0.0% |
| Distributable reserves | 133 | €1,855 | €1,855 | = | 0.0% |
| Profit (loss) carried forward | 14 | €55,139 | €55,405 | +€266 | +0.5% |
| Amounts payable | 17/49 | €4,463 | €2,780 | -€1,683 | -37.7% |
| Amounts payable within one year | 42/48 | €4,463 | €2,780 | -€1,683 | -37.7% |
| Trade debts | 44 | €2,665 | €1,470 | -€1,196 | -44.9% |
| Suppliers | 440/4 | €2,665 | €1,470 | -€1,196 | -44.9% |
| Taxes, remuneration and social security | 45 | €1,572 | €1,310 | -€262 | -16.6% |
| Taxes | 450/3 | €572 | €310 | -€262 | -45.7% |
| Remuneration and social security | 454/9 | €1,000 | €1,000 | = | 0.0% |
| Other amounts payable | 47/48 | €226 | - | -€226 | |
| Remuneration, social security and pensions | 62 | - | €138 | +€138 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,214 | €3,158 | +€945 | +42.7% |
| Other operating charges | 640/8 | €746 | €879 | +€133 | +17.8% |
| Gross operating margin | 9900 | -€1,943 | €4,490 | +€6,433 | |
| Operating profit (loss) | 9901 | -€4,903 | €314 | +€5,218 | |
| Financial income | 75/76B | €29 | €7 | -€22 | -75.3% |
| Recurring financial income | 75 | €29 | €7 | -€22 | -75.3% |
| Financial charges | 65/66B | €59 | €55 | -€3 | -5.3% |
| Recurring financial charges | 65 | €59 | €55 | -€3 | -5.3% |
| Profit (loss) for the period before taxes | 9903 | -€4,933 | €266 | +€5,199 | |
| Profit (loss) for the period | 9904 | -€4,933 | €266 | +€5,199 | |
| Profit (loss) for the period to be appropriated | 9905 | -€4,933 | €266 | +€5,199 |
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 9 October 2026 via checked.be.