ALFARES: 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.
ALFARES
Largest movements
- Receivables within one year +€29,596
up €29,596 (+1036.2%), from €2,856 to €32,452
- Cash -€3,923
down €3,923 (-4.4%), from €88,694 to €84,770
mainly Trade debts (-€30,951) and Receivables within one year (-€29,596)
- Deferred charges and accrued income +€2,968
new in 2025: €2,968
- Tax, wage and social debts +€45,554
up €45,554 (+227.8%), from €20,001 to €65,556
of which Remuneration and social security: +€37,769
- Trade debts -€30,951
down €30,951 (-68.7%), from €45,035 to €14,084
- Reserves +€13,409
up €13,409 (+83.9%), from €15,989 to €29,397
- Turnover +€205,540
up €205,540 (+40.3%), from €510,136 to €715,676
- Purchases and services +€156,594
up €156,594 (+35.5%), from €440,514 to €597,108
- Staff costs +€50,212
up €50,212 (+135.9%), from €36,957 to €87,169
- Gross operating margin +€48,945
up €48,945 (+70.3%), from €69,622 to €118,568
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 | €106,025 | €135,321 | +€29,296 | +27.6% |
| Fixed assets | 21/28 | €8,203 | €8,128 | -€74 | -0.9% |
| Tangible fixed assets | 22/27 | €8,203 | €8,128 | -€74 | -0.9% |
| Plant, machinery and equipment | 23 | €3,231 | €2,491 | -€740 | -22.9% |
| Furniture and vehicles | 24 | €4,972 | €5,637 | +€665 | +13.4% |
| Current assets | 29/58 | €97,822 | €127,193 | +€29,370 | +30.0% |
| Stocks and contracts in progress | 3 | €6,273 | €7,003 | +€730 | +11.6% |
| Stocks | 30/36 | €6,273 | €7,003 | +€730 | +11.6% |
| Amounts receivable within one year | 40/41 | €2,856 | €32,452 | +€29,596 | +1036.2% |
| Other amounts receivable | 41 | €2,856 | €32,452 | +€29,596 | +1036.2% |
| Cash at bank and in hand | 54/58 | €88,694 | €84,770 | -€3,923 | -4.4% |
| Deferred charges and accrued income | 490/1 | - | €2,968 | +€2,968 | |
| Total equity and liabilities | 10/49 | €106,025 | €135,321 | +€29,296 | +27.6% |
| Equity | 10/15 | €40,989 | €54,397 | +€13,409 | +32.7% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €15,989 | €29,397 | +€13,409 | +83.9% |
| Distributable reserves | 133 | €15,989 | €29,397 | +€13,409 | +83.9% |
| Amounts payable | 17/49 | €65,037 | €80,924 | +€15,887 | +24.4% |
| Amounts payable within one year | 42/48 | €65,037 | €80,924 | +€15,887 | +24.4% |
| Trade debts | 44 | €45,035 | €14,084 | -€30,951 | -68.7% |
| Suppliers | 440/4 | €45,035 | €14,084 | -€30,951 | -68.7% |
| Taxes, remuneration and social security | 45 | €20,001 | €65,556 | +€45,554 | +227.8% |
| Taxes | 450/3 | €9,395 | €17,180 | +€7,785 | +82.9% |
| Remuneration and social security | 454/9 | €10,607 | €48,376 | +€37,769 | +356.1% |
| Other amounts payable | 47/48 | - | €1,284 | +€1,284 | |
| Turnover | 70 | €510,136 | €715,676 | +€205,540 | +40.3% |
| Goods, raw materials, services and sundry goods | 60/61 | €440,514 | €597,108 | +€156,594 | +35.5% |
| Remuneration, social security and pensions | 62 | €36,957 | €87,169 | +€50,212 | +135.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,072 | €3,038 | +€1,966 | +183.3% |
| Other operating charges | 640/8 | €9,900 | €4,832 | -€5,068 | -51.2% |
| Gross operating margin | 9900 | €69,622 | €118,568 | +€48,945 | +70.3% |
| Operating profit (loss) | 9901 | €21,693 | €23,529 | +€1,835 | +8.5% |
| Financial income | 75/76B | €23 | €9 | -€13 | -58.2% |
| Recurring financial income | 75 | €23 | €9 | -€13 | -58.2% |
| Financial charges | 65/66B | €1,545 | €5,390 | +€3,845 | +248.8% |
| Recurring financial charges | 65 | €1,545 | €5,390 | +€3,845 | +248.8% |
| Profit (loss) for the period before taxes | 9903 | €20,171 | €18,149 | -€2,022 | -10.0% |
| Income taxes | 67/77 | €4,182 | €4,740 | +€558 | +13.3% |
| Profit (loss) for the period | 9904 | €15,989 | €13,409 | -€2,580 | -16.1% |
| Profit (loss) for the period to be appropriated | 9905 | €15,989 | €13,409 | -€2,580 | -16.1% |
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 8 October 2026 via checked.be.