ALFISK: 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.
ALFISK
Largest movements
- Cash -€12,949
down €12,949 (-47.1%), from €27,477 to €14,528
mainly Investment in fixed assets (net) (-€23,012) and Other debts (-€20,388)
- Receivables within one year -€8,427
down €8,427 (-15.5%), from €54,541 to €46,114
of which Trade receivables: -€43,573
- Tangible fixed assets +€5,919
up €5,919 (+3.3%), from €181,457 to €187,376
of which Plant, machinery and equipment: +€13,181
- Reserves +€23,836
up €23,836 (+31.4%), from €75,882 to €99,718
- Other debts -€20,388
down €20,388 (-31.6%), from €64,609 to €44,221
- Debts after one year -€17,956
down €17,956 (-22.0%), from €81,612 to €63,656
- Trade debts -€4,608
down €4,608 (-52.0%), from €8,862 to €4,254
- Current portion of long-term debt +€4,195
up €4,195 (+18.9%), from €22,242 to €26,437
- Gross operating margin -€21,310
down €21,310 (-17.8%), from €119,777 to €98,468
- Financial charges -€14,460
down €14,460 (-76.6%), from €18,870 to €4,410
- Staff costs -€4,418
down €4,418 (-9.8%), from €45,283 to €40,865
- Taxes -€3,135
down €3,135 (-24.5%), from €12,787 to €9,651
- Depreciation +€2,858
up €2,858 (+20.1%), from €14,235 to €17,092
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 | €263,475 | €248,018 | -€15,456 | -5.9% |
| Fixed assets | 21/28 | €181,457 | €187,376 | +€5,919 | +3.3% |
| Tangible fixed assets | 22/27 | €181,457 | €187,376 | +€5,919 | +3.3% |
| Land and buildings | 22 | €177,585 | €165,824 | -€11,761 | -6.6% |
| Plant, machinery and equipment | 23 | €3,397 | €16,578 | +€13,181 | +388.0% |
| Furniture and vehicles | 24 | €474 | €4,974 | +€4,500 | +948.4% |
| Current assets | 29/58 | €82,018 | €60,642 | -€21,376 | -26.1% |
| Amounts receivable within one year | 40/41 | €54,541 | €46,114 | -€8,427 | -15.5% |
| Trade receivables | 40 | €43,573 | - | -€43,573 | |
| Other amounts receivable | 41 | €10,968 | €46,114 | +€35,146 | +320.4% |
| Cash at bank and in hand | 54/58 | €27,477 | €14,528 | -€12,949 | -47.1% |
| Total equity and liabilities | 10/49 | €263,475 | €248,018 | -€15,456 | -5.9% |
| Equity | 10/15 | €75,882 | €99,718 | +€23,836 | +31.4% |
| Reserves | 13 | €75,882 | €99,718 | +€23,836 | +31.4% |
| Distributable reserves | 133 | €75,882 | €99,718 | +€23,836 | +31.4% |
| Amounts payable | 17/49 | €187,593 | €148,301 | -€39,292 | -20.9% |
| Amounts payable after more than one year | 17 | €81,612 | €63,656 | -€17,956 | -22.0% |
| Financial debts | 170/4 | €81,612 | €63,656 | -€17,956 | -22.0% |
| Amounts payable within one year | 42/48 | €105,981 | €84,645 | -€21,336 | -20.1% |
| Current portion of amounts payable after more than one year | 42 | €22,242 | €26,437 | +€4,195 | +18.9% |
| Financial debts | 43 | €403 | €294 | -€109 | -27.1% |
| Credit institutions | 430/8 | €403 | €294 | -€109 | -27.1% |
| Trade debts | 44 | €8,862 | €4,254 | -€4,608 | -52.0% |
| Suppliers | 440/4 | €8,862 | €4,254 | -€4,608 | -52.0% |
| Taxes, remuneration and social security | 45 | €9,865 | €9,439 | -€426 | -4.3% |
| Taxes | 450/3 | €9,865 | €9,439 | -€426 | -4.3% |
| Other amounts payable | 47/48 | €64,609 | €44,221 | -€20,388 | -31.6% |
| Remuneration, social security and pensions | 62 | €45,283 | €40,865 | -€4,418 | -9.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,235 | €17,092 | +€2,858 | +20.1% |
| Other operating charges | 640/8 | €3,653 | €3,286 | -€367 | -10.0% |
| Gross operating margin | 9900 | €119,777 | €98,468 | -€21,310 | -17.8% |
| Operating profit (loss) | 9901 | €56,606 | €37,225 | -€19,382 | -34.2% |
| Financial income | 75/76B | - | €673 | +€673 | |
| Recurring financial income | 75 | - | €673 | +€673 | |
| Financial charges | 65/66B | €18,870 | €4,410 | -€14,460 | -76.6% |
| Recurring financial charges | 65 | €18,870 | €4,410 | -€14,460 | -76.6% |
| Profit (loss) for the period before taxes | 9903 | €37,736 | €33,488 | -€4,249 | -11.3% |
| Income taxes | 67/77 | €12,787 | €9,651 | -€3,135 | -24.5% |
| Profit (loss) for the period | 9904 | €24,950 | €23,836 | -€1,114 | -4.5% |
| Profit (loss) for the period to be appropriated | 9905 | €24,950 | €23,836 | -€1,114 | -4.5% |
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 7 October 2026 via checked.be.