ALFASEC: 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.
ALFASEC
Largest movements
- Cash +€26,771
up €26,771 (+10.3%), from €258,922 to €285,693
mainly Other debts (+€176,660) and Net result for the year (+€50,486)
- Receivables within one year -€24,605
down €24,605 (-34.8%), from €70,649 to €46,044
of which Trade receivables: -€21,605
- Tangible fixed assets +€12,953
up €12,953 (+14.1%), from €91,662 to €104,615
of which Land and buildings: +€11,434
- Other debts +€176,660
up €176,660 (+1435.2%), from €12,309 to €188,969
- Reserves -€126,000
down €126,000 (-39.4%), from €320,000 to €194,000
- Advances received -€21,340
no longer reported in 2026 (was €21,340)
- Trade debts -€19,306
down €19,306 (-45.9%), from €42,081 to €22,775
- Gross operating margin -€27,116
down €27,116 (-28.5%), from €95,066 to €67,950
- Financial income +€22,496
up €22,496 (+224960600.0%), from €0 to €22,496
of which Non-recurring financial income: +€22,414
- Depreciation +€3,897
up €3,897 (+36.0%), from €10,827 to €14,724
- Taxes -€2,920
down €2,920 (-12.6%), from €23,095 to €20,174
- Financial charges +€1,978
up €1,978 (+98.4%), from €2,010 to €3,987
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €423,875 | €438,664 | +€14,788 | +3.5% |
| Fixed assets | 21/28 | €91,812 | €104,765 | +€12,953 | +14.1% |
| Tangible fixed assets | 22/27 | €91,662 | €104,615 | +€12,953 | +14.1% |
| Land and buildings | 22 | €68,360 | €79,794 | +€11,434 | +16.7% |
| Furniture and vehicles | 24 | €20,040 | €21,559 | +€1,519 | +7.6% |
| Other tangible fixed assets | 26 | €3,263 | €3,263 | = | 0.0% |
| Financial fixed assets | 28 | €150 | €150 | = | 0.0% |
| Current assets | 29/58 | €332,063 | €333,898 | +€1,836 | +0.6% |
| Amounts receivable within one year | 40/41 | €70,649 | €46,044 | -€24,605 | -34.8% |
| Trade receivables | 40 | €67,649 | €46,044 | -€21,605 | -31.9% |
| Other amounts receivable | 41 | €3,000 | - | -€3,000 | |
| Cash at bank and in hand | 54/58 | €258,922 | €285,693 | +€26,771 | +10.3% |
| Deferred charges and accrued income | 490/1 | €2,492 | €2,162 | -€331 | -13.3% |
| Total equity and liabilities | 10/49 | €423,875 | €438,664 | +€14,788 | +3.5% |
| Equity | 10/15 | €344,141 | €218,627 | -€125,514 | -36.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €320,000 | €194,000 | -€126,000 | -39.4% |
| Distributable reserves | 133 | €320,000 | €194,000 | -€126,000 | -39.4% |
| Profit (loss) carried forward | 14 | €5,541 | €6,027 | +€486 | +8.8% |
| Amounts payable | 17/49 | €79,735 | €220,037 | +€140,302 | +176.0% |
| Amounts payable within one year | 42/48 | €79,735 | €220,037 | +€140,302 | +176.0% |
| Trade debts | 44 | €42,081 | €22,775 | -€19,306 | -45.9% |
| Suppliers | 440/4 | €42,081 | €22,775 | -€19,306 | -45.9% |
| Advances received on contracts in progress | 46 | €21,340 | - | -€21,340 | |
| Taxes, remuneration and social security | 45 | €4,004 | €8,292 | +€4,288 | +107.1% |
| Taxes | 450/3 | €4,004 | €8,292 | +€4,288 | +107.1% |
| Other amounts payable | 47/48 | €12,309 | €188,969 | +€176,660 | +1435.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,827 | €14,724 | +€3,897 | +36.0% |
| Other operating charges | 640/8 | €513 | €1,074 | +€561 | +109.3% |
| Gross operating margin | 9900 | €95,066 | €67,950 | -€27,116 | -28.5% |
| Operating profit (loss) | 9901 | €83,726 | €52,152 | -€31,574 | -37.7% |
| Financial income | 75/76B | €0 | €22,496 | +€22,496 | +224960600.0% |
| Recurring financial income | 75 | €0 | €82 | +€82 | +817600.0% |
| Non-recurring financial income | 76B | - | €22,414 | +€22,414 | |
| Financial charges | 65/66B | €2,010 | €3,987 | +€1,978 | +98.4% |
| Recurring financial charges | 65 | €2,010 | €3,987 | +€1,978 | +98.4% |
| Profit (loss) for the period before taxes | 9903 | €81,716 | €70,661 | -€11,056 | -13.5% |
| Income taxes | 67/77 | €23,095 | €20,174 | -€2,920 | -12.6% |
| Profit (loss) for the period | 9904 | €58,622 | €50,486 | -€8,136 | -13.9% |
| Profit (loss) for the period to be appropriated | 9905 | €58,622 | €50,486 | -€8,136 | -13.9% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.