ALFORA: 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.
ALFORA
Largest movements
- Receivables within one year +€24,573
up €24,573 (+12.9%), from €190,849 to €215,422
of which Other amounts receivable: +€39,061
- Debts after one year -€74,089
down €74,089 (-14.7%), from €504,411 to €430,322
- Reserves +€61,377
up €61,377 (+8.2%), from €748,449 to €809,826
of which Distributable reserves: +€61,377
- Advances received -€51,551
down €51,551 (-63.2%), from €81,551 to €30,000
- Trade debts +€45,665
up €45,665 (+291.4%), from €15,669 to €61,335
- Tax, wage and social debts +€35,877
up €35,877 (+134.8%), from €26,622 to €62,498
- Gross operating margin +€35,731
up €35,731 (+46.3%), from €77,096 to €112,827
- Financial income -€12,196
down €12,196 (-98.4%), from €12,394 to €198
- Financial charges +€8,669
up €8,669 (+64.6%), from €13,427 to €22,097
- Depreciation -€2,941
down €2,941 (-20.0%), from €14,706 to €11,765
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 | €1,521,595 | €1,540,529 | +€18,933 | +1.2% |
| Fixed assets | 21/28 | €1,314,059 | €1,302,294 | -€11,765 | -0.9% |
| Tangible fixed assets | 22/27 | €1,311,559 | €1,299,794 | -€11,765 | -0.9% |
| Land and buildings | 22 | €1,311,559 | €1,299,794 | -€11,765 | -0.9% |
| Financial fixed assets | 28 | €2,500 | €2,500 | = | 0.0% |
| Current assets | 29/58 | €207,536 | €238,234 | +€30,698 | +14.8% |
| Amounts receivable within one year | 40/41 | €190,849 | €215,422 | +€24,573 | +12.9% |
| Trade receivables | 40 | €172,364 | €157,876 | -€14,489 | -8.4% |
| Other amounts receivable | 41 | €18,484 | €57,546 | +€39,061 | +211.3% |
| Cash at bank and in hand | 54/58 | €16,687 | €22,813 | +€6,125 | +36.7% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €1,521,595 | €1,540,529 | +€18,933 | +1.2% |
| Equity | 10/15 | €798,449 | €859,826 | +€61,377 | +7.7% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €748,449 | €809,826 | +€61,377 | +8.2% |
| Non-distributable reserves | 130/1 | €5,000 | €5,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €5,000 | €5,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €0 | - | = | |
| Distributable reserves | 133 | €743,449 | €804,826 | +€61,377 | +8.3% |
| Provisions and deferred taxes | 16 | €0 | - | = | |
| Deferred taxes | 168 | €0 | - | = | |
| Amounts payable | 17/49 | €723,147 | €680,703 | -€42,444 | -5.9% |
| Amounts payable after more than one year | 17 | €504,411 | €430,322 | -€74,089 | -14.7% |
| Financial debts | 170/4 | €504,411 | €430,322 | -€74,089 | -14.7% |
| Amounts payable within one year | 42/48 | €217,799 | €249,582 | +€31,783 | +14.6% |
| Current portion of amounts payable after more than one year | 42 | €78,396 | €80,188 | +€1,792 | +2.3% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €15,669 | €61,335 | +€45,665 | +291.4% |
| Suppliers | 440/4 | €15,669 | €61,335 | +€45,665 | +291.4% |
| Advances received on contracts in progress | 46 | €81,551 | €30,000 | -€51,551 | -63.2% |
| Taxes, remuneration and social security | 45 | €26,622 | €62,498 | +€35,877 | +134.8% |
| Taxes | 450/3 | €26,622 | €62,498 | +€35,877 | +134.8% |
| Other amounts payable | 47/48 | €15,561 | €15,561 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €937 | €798 | -€138 | -14.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,706 | €11,765 | -€2,941 | -20.0% |
| Other operating charges | 640/8 | €2,419 | €2,442 | +€23 | +1.0% |
| Gross operating margin | 9900 | €77,096 | €112,827 | +€35,731 | +46.3% |
| Operating profit (loss) | 9901 | €59,971 | €98,620 | +€38,649 | +64.4% |
| Financial income | 75/76B | €12,394 | €198 | -€12,196 | -98.4% |
| Recurring financial income | 75 | €12,394 | €198 | -€12,196 | -98.4% |
| Financial charges | 65/66B | €13,427 | €22,097 | +€8,669 | +64.6% |
| Recurring financial charges | 65 | €13,427 | €22,097 | +€8,669 | +64.6% |
| Profit (loss) for the period before taxes | 9903 | €58,938 | €76,722 | +€17,784 | +30.2% |
| Transfer from deferred taxes | 780 | €4,451 | €0 | -€4,451 | -100.0% |
| Income taxes | 67/77 | €15,165 | €15,344 | +€180 | +1.2% |
| Profit (loss) for the period | 9904 | €48,224 | €61,377 | +€13,153 | +27.3% |
| Transfer from tax-exempt reserves | 789 | €8,640 | €0 | -€8,640 | -100.0% |
| Profit (loss) for the period to be appropriated | 9905 | €56,864 | €61,377 | +€4,513 | +7.9% |
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 5 October 2026 via checked.be.