ALFIN: 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.
ALFIN
Largest movements
- Receivables within one year +€53,971
up €53,971 (+142%), from €37,885 to €91,855
of which Other amounts receivable: +€69,835
- Cash +€33,695
up €33,695 (+330%), from €10,210 to €43,906
mainly Net result for the year (+€62,979) and Tax, wage and social debts (+€26,890)
- Tangible fixed assets -€5,860
down €5,860 (-65.8%), from €8,901 to €3,040
- Reserves +€62,676
up €62,676 (+55.7%), from €112,531 to €175,207
of which Distributable reserves: +€62,676
- Tax, wage and social debts +€26,890
up €26,890 (+255%), from €10,541 to €37,431
- Other debts -€7,044
down €7,044 (-70.3%), from €10,022 to €2,978
- Gross operating margin +€97,118
up €97,118 (+722%), from €13,447 to €110,565
- Provisions +€51,750
no longer reported in 2025 (was -€51,750)
- Taxes +€17,136
up €17,136 (+250%), from €6,841 to €23,977
- Other operating charges +€5,934
up €5,934 (+471%), from €1,259 to €7,193
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 | €226,194 | €309,971 | +€83,777 | +37.0% |
| Fixed assets | 21/28 | €177,960 | €172,099 | -€5,860 | -3.3% |
| Tangible fixed assets | 22/27 | €8,901 | €3,040 | -€5,860 | -65.8% |
| Furniture and vehicles | 24 | €8,901 | €3,040 | -€5,860 | -65.8% |
| Financial fixed assets | 28 | €169,059 | €169,059 | = | 0.0% |
| Current assets | 29/58 | €48,234 | €137,872 | +€89,638 | +186% |
| Amounts receivable within one year | 40/41 | €37,885 | €91,855 | +€53,971 | +142% |
| Trade receivables | 40 | €37,433 | €21,569 | -€15,864 | -42.4% |
| Other amounts receivable | 41 | €452 | €70,286 | +€69,835 | +15,467% |
| Cash at bank and in hand | 54/58 | €10,210 | €43,906 | +€33,695 | +330% |
| Deferred charges and accrued income | 490/1 | €139 | €2,111 | +€1,972 | +1,414% |
| Total equity and liabilities | 10/49 | €226,194 | €309,971 | +€83,777 | +37.0% |
| Equity | 10/15 | €204,337 | €267,316 | +€62,979 | +30.8% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Contributions outside capital | 11 | €62,000 | €62,000 | = | 0.0% |
| Other | 1109/19 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €112,531 | €175,207 | +€62,676 | +55.7% |
| Non-distributable reserves | 130/1 | €658 | €658 | = | 0.0% |
| Reserves not available under the articles | 1311 | €658 | €658 | = | 0.0% |
| Tax-exempt reserves | 132 | €2,059 | €2,059 | = | 0.0% |
| Distributable reserves | 133 | €109,814 | €172,490 | +€62,676 | +57.1% |
| Profit (loss) carried forward | 14 | €29,806 | €30,108 | +€303 | +1.0% |
| Amounts payable | 17/49 | €21,857 | €42,656 | +€20,799 | +95.2% |
| Amounts payable within one year | 42/48 | €21,857 | €42,656 | +€20,799 | +95.2% |
| Trade debts | 44 | €1,294 | €2,246 | +€952 | +73.6% |
| Suppliers | 440/4 | €1,294 | €2,246 | +€952 | +73.6% |
| Taxes, remuneration and social security | 45 | €10,541 | €37,431 | +€26,890 | +255% |
| Taxes | 450/3 | €10,541 | €37,431 | +€26,890 | +255% |
| Other amounts payable | 47/48 | €10,022 | €2,978 | -€7,044 | -70.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,950 | €8,906 | -€44 | -0.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €7,868 | €7,092 | -€776 | -9.9% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€51,750 | - | +€51,750 | |
| Other operating charges | 640/8 | €1,259 | €7,193 | +€5,934 | +471% |
| Gross operating margin | 9900 | €13,447 | €110,565 | +€97,118 | +722% |
| Operating profit (loss) | 9901 | €47,121 | €87,375 | +€40,254 | +85.4% |
| Financial income | 75/76B | €1 | €44 | +€43 | +4,517% |
| Recurring financial income | 75 | €1 | €44 | +€43 | +4,517% |
| Financial charges | 65/66B | €283 | €464 | +€181 | +63.9% |
| Recurring financial charges | 65 | €283 | €464 | +€181 | +63.9% |
| Profit (loss) for the period before taxes | 9903 | €46,839 | €86,956 | +€40,117 | +85.6% |
| Income taxes | 67/77 | €6,841 | €23,977 | +€17,136 | +250% |
| Profit (loss) for the period | 9904 | €39,998 | €62,979 | +€22,981 | +57.5% |
| Profit (loss) for the period to be appropriated | 9905 | €39,998 | €62,979 | +€22,981 | +57.5% |
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 24 October 2026 via checked.be.