ALFO: 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.
ALFO
Largest movements
- Cash +€51,309
up €51,309 (+33.5%), from €153,386 to €204,694
mainly Net result for the year (+€34,211) and Trade debts (+€8,042)
- Tangible fixed assets -€4,027
down €4,027 (-22.6%), from €17,796 to €13,769
of which Furniture and vehicles: -€2,892
- Reserves +€34,211
up €34,211 (+40.0%), from €85,524 to €119,735
- Trade debts +€8,042
up €8,042 (+389.6%), from €2,064 to €10,106
- Tax, wage and social debts +€3,819
up €3,819 (+203.7%), from €1,875 to €5,694
- Gross operating margin +€37,749
up €37,749 (+183.0%), from €20,631 to €58,380
- Taxes +€11,915
up €11,915 (+242.9%), from €4,905 to €16,819
- Depreciation +€2,532
up €2,532 (+86.1%), from €2,939 to €5,471
- Staff costs -€671
down €671 (-60.4%), from €1,110 to €440
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 | €205,135 | €251,277 | +€46,141 | +22.5% |
| Fixed assets | 21/28 | €17,796 | €13,769 | -€4,027 | -22.6% |
| Tangible fixed assets | 22/27 | €17,796 | €13,769 | -€4,027 | -22.6% |
| Land and buildings | 22 | - | €1,311 | +€1,311 | |
| Plant, machinery and equipment | 23 | €9,934 | €7,488 | -€2,446 | -24.6% |
| Furniture and vehicles | 24 | €7,862 | €4,970 | -€2,892 | -36.8% |
| Current assets | 29/58 | €187,339 | €237,507 | +€50,168 | +26.8% |
| Amounts receivable within one year | 40/41 | €32,121 | €30,895 | -€1,225 | -3.8% |
| Trade receivables | 40 | €29,837 | €30,166 | +€330 | +1.1% |
| Other amounts receivable | 41 | €2,284 | €729 | -€1,555 | -68.1% |
| Cash at bank and in hand | 54/58 | €153,386 | €204,694 | +€51,309 | +33.5% |
| Deferred charges and accrued income | 490/1 | €1,833 | €1,918 | +€85 | +4.6% |
| Total equity and liabilities | 10/49 | €205,135 | €251,277 | +€46,141 | +22.5% |
| Equity | 10/15 | €200,967 | €235,178 | +€34,211 | +17.0% |
| Contributions | 10/11 | €20,451 | €20,451 | = | 0.0% |
| Reserves | 13 | €85,524 | €119,735 | +€34,211 | +40.0% |
| Distributable reserves | 133 | €85,524 | €119,735 | +€34,211 | +40.0% |
| Profit (loss) carried forward | 14 | €94,992 | €94,992 | = | 0.0% |
| Amounts payable | 17/49 | €4,168 | €16,098 | +€11,930 | +286.2% |
| Amounts payable within one year | 42/48 | €4,168 | €16,098 | +€11,930 | +286.2% |
| Trade debts | 44 | €2,064 | €10,106 | +€8,042 | +389.6% |
| Suppliers | 440/4 | €2,064 | €10,106 | +€8,042 | +389.6% |
| Taxes, remuneration and social security | 45 | €1,875 | €5,694 | +€3,819 | +203.7% |
| Taxes | 450/3 | €1,875 | €5,694 | +€3,819 | +203.7% |
| Other amounts payable | 47/48 | €229 | €298 | +€69 | +30.1% |
| Remuneration, social security and pensions | 62 | €1,110 | €440 | -€671 | -60.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,939 | €5,471 | +€2,532 | +86.1% |
| Other operating charges | 640/8 | €1,461 | €1,496 | +€35 | +2.4% |
| Gross operating margin | 9900 | €20,631 | €58,380 | +€37,749 | +183.0% |
| Operating profit (loss) | 9901 | €15,120 | €50,973 | +€35,853 | +237.1% |
| Financial income | 75/76B | €614 | €104 | -€509 | -83.0% |
| Recurring financial income | 75 | €614 | €104 | -€509 | -83.0% |
| Financial charges | 65/66B | €354 | €47 | -€308 | -86.8% |
| Recurring financial charges | 65 | €354 | €47 | -€308 | -86.8% |
| Profit (loss) for the period before taxes | 9903 | €15,379 | €51,031 | +€35,651 | +231.8% |
| Income taxes | 67/77 | €4,905 | €16,819 | +€11,915 | +242.9% |
| Profit (loss) for the period | 9904 | €10,475 | €34,211 | +€23,737 | +226.6% |
| Profit (loss) for the period to be appropriated | 9905 | €10,475 | €34,211 | +€23,737 | +226.6% |
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.