ALFRA BUILDING: 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.
What changed
ALFRA BUILDING
NACE 68.121, Development of residential building projects
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€83,433
2024 · €35,677+€47,756
Equity
€474,518
2024 · €391,085+€83,433
Cash
-
2024 · €665-€665
Balance sheet total
€1.5m
2024 · €1.9m-€400,483
Largest movements
Assets
- Tangible fixed assets -€357,977
down €357,977 (-24.4%), from €1.5m to €1.1m
of which Land and buildings: -€438,224
- Deferred charges and accrued income -€53,188
down €53,188 (-87.2%), from €61,015 to €7,827
Equity and liabilities
- Other debts -€207,405
down €207,405 (-44.7%), from €464,210 to €256,805
- Short-term financial debts -€194,771
down €194,771 (-99.9%), from €195,000 to €229
- Debts after one year -€163,116
down €163,116 (-28.7%), from €567,548 to €404,432
- Trade debts +€125,943
up €125,943 (+234%), from €53,718 to €179,660
- Profit (loss) carried forward +€89,604
up €89,604, from -€49,613 to €39,992
Income statement
- Gross operating margin +€96,047
up €96,047 (+63.8%), from €150,528 to €246,575
- Financial charges +€16,372
up €16,372 (+51.2%), from €32,008 to €48,380
- Other operating charges +€12,249
up €12,249 (+35.2%), from €34,757 to €47,006
- Depreciation +€11,916
up €11,916 (+24.8%), from €48,131 to €60,047
- Taxes +€9,766
new in 2025: €9,766
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
€35,677
Gross operating margin
+€96,047
Depreciation
-€11,916
Other operating charges
-€12,249
Financial charges
-€16,372
Taxes
-€9,766
Deferred taxes and other
+€2,012
Result 2025
€83,433
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€115,712
Investment
+€295,476
Financing
-€411,853
Cash 2024
€665
From operations (derived)
+€115,712
Net result for the year
+€83,433
Depreciation
+€60,047
Receivables within one year
-€8,893
Deferred charges and accrued income
+€53,188
Provisions
-€2,057
Trade debts
+€125,943
Tax, wage and social debts
+€14,446
Other debts
-€207,405
Accrued charges and deferred income
-€2,990
Investment (derived)
+€295,476
Investment in fixed assets (net)
+€295,476
Financing
-€411,853
Debts after one year
-€163,116
Current portion of long-term debt
-€53,966
Short-term financial debts
-€194,771
Cash 2025
€0
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,865,678 | €1,465,195 | -€400,483 | -21.5% |
| Fixed assets | 21/28 | €1,465,556 | €1,110,033 | -€355,523 | -24.3% |
| Tangible fixed assets | 22/27 | €1,465,556 | €1,107,579 | -€357,977 | -24.4% |
| Land and buildings | 22 | €1,404,524 | €966,300 | -€438,224 | -31.2% |
| Plant, machinery and equipment | 23 | €3,617 | €2,403 | -€1,213 | -33.5% |
| Furniture and vehicles | 24 | - | €95,507 | +€95,507 | |
| Leasing and similar rights | 25 | €57,415 | €43,368 | -€14,047 | -24.5% |
| Financial fixed assets | 28 | - | €2,454 | +€2,454 | |
| Current assets | 29/58 | €400,122 | €355,162 | -€44,960 | -11.2% |
| Amounts receivable after more than one year | 29 | €160,000 | €160,000 | = | 0.0% |
| Other amounts receivable | 291 | €160,000 | €160,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €178,442 | €187,335 | +€8,893 | +5.0% |
| Trade receivables | 40 | €73,435 | €185,366 | +€111,930 | +152% |
| Other amounts receivable | 41 | €105,007 | €1,969 | -€103,038 | -98.1% |
| Cash at bank and in hand | 54/58 | €665 | - | -€665 | |
| Deferred charges and accrued income | 490/1 | €61,015 | €7,827 | -€53,188 | -87.2% |
| Total equity and liabilities | 10/49 | €1,865,678 | €1,465,195 | -€400,483 | -21.5% |
| Equity | 10/15 | €391,085 | €474,518 | +€83,433 | +21.3% |
| Contributions | 10/11 | €237,184 | €237,184 | = | 0.0% |
| Reserves | 13 | €203,513 | €197,342 | -€6,171 | -3.0% |
| Tax-exempt reserves | 132 | €203,513 | €197,342 | -€6,171 | -3.0% |
| Profit (loss) carried forward | 14 | -€49,613 | €39,992 | +€89,604 | |
| Provisions and deferred taxes | 16 | €67,838 | €65,781 | -€2,057 | -3.0% |
| Deferred taxes | 168 | €67,838 | €65,781 | -€2,057 | -3.0% |
| Amounts payable | 17/49 | €1,406,756 | €924,897 | -€481,859 | -34.3% |
| Amounts payable after more than one year | 17 | €567,548 | €404,432 | -€163,116 | -28.7% |
| Financial debts | 170/4 | €567,548 | €404,432 | -€163,116 | -28.7% |
| Amounts payable within one year | 42/48 | €832,805 | €517,052 | -€315,753 | -37.9% |
| Current portion of amounts payable after more than one year | 42 | €94,676 | €40,709 | -€53,966 | -57.0% |
| Financial debts | 43 | €195,000 | €229 | -€194,771 | -99.9% |
| Credit institutions | 430/8 | €195,000 | €229 | -€194,771 | -99.9% |
| Trade debts | 44 | €53,718 | €179,660 | +€125,943 | +234% |
| Suppliers | 440/4 | €53,718 | €179,660 | +€125,943 | +234% |
| Taxes, remuneration and social security | 45 | €25,202 | €39,648 | +€14,446 | +57.3% |
| Taxes | 450/3 | €25,202 | €39,648 | +€14,446 | +57.3% |
| Other amounts payable | 47/48 | €464,210 | €256,805 | -€207,405 | -44.7% |
| Accrued charges and deferred income | 492/3 | €6,403 | €3,412 | -€2,990 | -46.7% |
| Non-recurring operating income | 76A | - | €183,456 | +€183,456 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €48,131 | €60,047 | +€11,916 | +24.8% |
| Other operating charges | 640/8 | €34,757 | €47,006 | +€12,249 | +35.2% |
| Gross operating margin | 9900 | €150,528 | €246,575 | +€96,047 | +63.8% |
| Operating profit (loss) | 9901 | €67,640 | €139,522 | +€71,882 | +106% |
| Financial charges | 65/66B | €32,008 | €48,380 | +€16,372 | +51.2% |
| Recurring financial charges | 65 | €32,008 | €48,380 | +€16,372 | +51.2% |
| Profit (loss) for the period before taxes | 9903 | €35,633 | €91,143 | +€55,510 | +156% |
| Transfer from deferred taxes | 780 | €45 | €2,057 | +€2,012 | +4,474% |
| Income taxes | 67/77 | - | €9,766 | +€9,766 | |
| Profit (loss) for the period | 9904 | €35,677 | €83,433 | +€47,756 | +134% |
| Transfer from tax-exempt reserves | 789 | €135 | €6,171 | +€6,036 | +4,475% |
| Profit (loss) for the period to be appropriated | 9905 | €35,812 | €89,604 | +€53,792 | +150% |
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 16 October 2026 via checked.be.