Alfra: 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.
What changed
Alfra
NACE 69.209, Other tax advisory services
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€197,824
2024 · €17,002+€180,822
Equity
€784,095
2024 · €690,749+€93,346
Cash
€236,922
2024 · €63,359+€173,563
Balance sheet total
€2.2m
2024 · €2.3m-€106,812
Largest movements
Assets
- Receivables within one year -€181,067
down €181,067 (-17.0%), from €1.1m to €884,196
of which Trade receivables: -€90,811
- Cash +€173,563
up €173,563 (+273.9%), from €63,359 to €236,922
mainly Net result for the year (+€197,824) and Receivables within one year (+€181,067)
- Tangible fixed assets -€63,442
down €63,442 (-14.7%), from €430,316 to €366,874
of which Plant, machinery and equipment: -€41,447
Equity and liabilities
- Trade debts -€174,545
down €174,545 (-26.5%), from €658,636 to €484,091
- Debts after one year -€103,652
down €103,652 (-30.7%), from €337,911 to €234,258
- Profit (loss) carried forward +€93,346
up €93,346 (+261.1%), from €35,749 to €129,095
- Other debts +€89,371
up €89,371 (+34.4%), from €259,462 to €348,833
- Short-term financial debts -€27,293
down €27,293 (-26.7%), from €102,293 to €75,000
Income statement
- Gross operating margin +€280,164
up €280,164 (+41.5%), from €674,843 to €955,007
- Taxes +€64,164
up €64,164 (+853.5%), from €7,518 to €71,682
- Staff costs +€43,513
up €43,513 (+9.5%), from €457,348 to €500,860
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.
Result 2024
€17,002
Gross operating margin
+€280,164
Staff costs
-€43,513
Depreciation
+€9,063
Write-downs
+€2,665
Provisions
+€990
Other operating charges
-€947
Other operating items
-€8,866
Financial income
-€474
Financial charges
+€5,906
Taxes
-€64,164
Result 2025
€197,824
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.
From operations
+€448,186
Investment
-€32,972
Financing
-€241,652
Cash 2024
€63,359
From operations (derived)
+€448,186
Net result for the year
+€197,824
Depreciation
+€111,079
Stocks and contracts
+€19,841
Receivables within one year
+€181,067
Deferred charges and accrued income
+€1,358
Provisions
+€7,094
Trade debts
-€174,545
Tax, wage and social debts
+€14,513
Other debts
+€89,371
Accrued charges and deferred income
+€584
Investment (derived)
-€32,972
Investment in fixed assets (net)
-€32,972
Financing
-€241,652
Debts after one year
-€103,652
Current portion of long-term debt
-€6,230
Short-term financial debts
-€27,293
Contributions, distributions and other
-€104,478
Cash 2025
€236,922
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,290,493 | €2,183,682 | -€106,812 | -4.7% |
| Fixed assets | 21/28 | €465,227 | €387,119 | -€78,108 | -16.8% |
| Intangible fixed assets | 21 | €34,851 | €20,185 | -€14,666 | -42.1% |
| Tangible fixed assets | 22/27 | €430,316 | €366,874 | -€63,442 | -14.7% |
| Land and buildings | 22 | €62,013 | €56,349 | -€5,664 | -9.1% |
| Plant, machinery and equipment | 23 | €210,777 | €169,330 | -€41,447 | -19.7% |
| Furniture and vehicles | 24 | €157,526 | €141,195 | -€16,331 | -10.4% |
| Financial fixed assets | 28 | €60 | €60 | = | 0.0% |
| Current assets | 29/58 | €1,825,267 | €1,796,563 | -€28,704 | -1.6% |
| Stocks and contracts in progress | 3 | €693,230 | €673,389 | -€19,841 | -2.9% |
| Stocks | 30/36 | €693,230 | €673,389 | -€19,841 | -2.9% |
| Amounts receivable within one year | 40/41 | €1,065,264 | €884,196 | -€181,067 | -17.0% |
| Trade receivables | 40 | €922,052 | €831,241 | -€90,811 | -9.8% |
| Other amounts receivable | 41 | €143,211 | €52,955 | -€90,256 | -63.0% |
| Cash at bank and in hand | 54/58 | €63,359 | €236,922 | +€173,563 | +273.9% |
| Deferred charges and accrued income | 490/1 | €3,414 | €2,056 | -€1,358 | -39.8% |
| Total equity and liabilities | 10/49 | €2,290,493 | €2,183,682 | -€106,812 | -4.7% |
| Equity | 10/15 | €690,749 | €784,095 | +€93,346 | +13.5% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Capital | 10 | €100,000 | €100,000 | = | 0.0% |
| Issued capital | 100 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €555,000 | €555,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €90,948 | €90,948 | = | 0.0% |
| Legal reserve | 130 | €10,000 | €10,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €80,948 | €80,948 | = | 0.0% |
| Distributable reserves | 133 | €464,052 | €464,052 | = | 0.0% |
| Profit (loss) carried forward | 14 | €35,749 | €129,095 | +€93,346 | +261.1% |
| Provisions and deferred taxes | 16 | €18,245 | €25,338 | +€7,094 | +38.9% |
| Provisions for liabilities and charges | 160/5 | €18,245 | €25,338 | +€7,094 | +38.9% |
| Other liabilities and charges | 164/5 | €18,245 | €25,338 | +€7,094 | +38.9% |
| Amounts payable | 17/49 | €1,581,499 | €1,374,248 | -€207,251 | -13.1% |
| Amounts payable after more than one year | 17 | €337,911 | €234,258 | -€103,652 | -30.7% |
| Financial debts | 170/4 | €337,911 | €234,258 | -€103,652 | -30.7% |
| Amounts payable within one year | 42/48 | €1,237,282 | €1,133,099 | -€104,183 | -8.4% |
| Current portion of amounts payable after more than one year | 42 | €139,431 | €133,201 | -€6,230 | -4.5% |
| Financial debts | 43 | €102,293 | €75,000 | -€27,293 | -26.7% |
| Credit institutions | 430/8 | €102,293 | €75,000 | -€27,293 | -26.7% |
| Trade debts | 44 | €658,636 | €484,091 | -€174,545 | -26.5% |
| Suppliers | 440/4 | €658,636 | €484,091 | -€174,545 | -26.5% |
| Taxes, remuneration and social security | 45 | €77,461 | €91,974 | +€14,513 | +18.7% |
| Taxes | 450/3 | €16,649 | €33,459 | +€16,810 | +101.0% |
| Remuneration and social security | 454/9 | €60,812 | €58,515 | -€2,297 | -3.8% |
| Other amounts payable | 47/48 | €259,462 | €348,833 | +€89,371 | +34.4% |
| Accrued charges and deferred income | 492/3 | €6,307 | €6,890 | +€584 | +9.3% |
| Remuneration, social security and pensions | 62 | €457,348 | €500,860 | +€43,513 | +9.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €120,142 | €111,079 | -€9,063 | -7.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €2,332 | -€333 | -€2,665 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €8,083 | €7,094 | -€990 | -12.2% |
| Other operating charges | 640/8 | €19,996 | €20,943 | +€947 | +4.7% |
| Non-recurring operating charges | 66A | - | €8,866 | +€8,866 | |
| Gross operating margin | 9900 | €674,843 | €955,007 | +€280,164 | +41.5% |
| Operating profit (loss) | 9901 | €66,943 | €306,498 | +€239,555 | +357.9% |
| Financial income | 75/76B | €3,758 | €3,284 | -€474 | -12.6% |
| Recurring financial income | 75 | €3,758 | €3,284 | -€474 | -12.6% |
| Financial charges | 65/66B | €46,181 | €40,275 | -€5,906 | -12.8% |
| Recurring financial charges | 65 | €46,181 | €40,275 | -€5,906 | -12.8% |
| Profit (loss) for the period before taxes | 9903 | €24,520 | €269,506 | +€244,986 | +999.1% |
| Income taxes | 67/77 | €7,518 | €71,682 | +€64,164 | +853.5% |
| Profit (loss) for the period | 9904 | €17,002 | €197,824 | +€180,822 | +1063.5% |
| Profit (loss) for the period to be appropriated | 9905 | €17,002 | €197,824 | +€180,822 | +1063.5% |
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 4 October 2026 via checked.be.