ALFREN: 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.
ALFREN
Largest movements
- Cash +€165,364
up €165,364 (+84.9%), from €194,668 to €360,032
mainly Net result for the year (+€257,988) and Tax, wage and social debts (+€21,432)
- Current investments +€77,000
up €77,000 (+62.6%), from €123,000 to €200,000
- Tangible fixed assets +€34,126
new in 2025: €34,126
- Receivables within one year +€6,423
up €6,423 (+46.8%), from €13,726 to €20,150
of which Other amounts receivable: +€5,698
- Profit (loss) carried forward +€257,988
up €257,988 (+87.2%), from €295,824 to €553,812
- Tax, wage and social debts +€21,432
up €21,432 (+35.7%), from €59,950 to €81,382
- Gross operating margin +€82,664
up €82,664 (+32.0%), from €258,154 to €340,818
- Taxes +€22,365
up €22,365 (+37.3%), from €59,950 to €82,314
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 | €359,283 | €638,912 | +€279,629 | +77.8% |
| Fixed assets | 21/28 | - | €34,126 | +€34,126 | |
| Tangible fixed assets | 22/27 | - | €34,126 | +€34,126 | |
| Furniture and vehicles | 24 | - | €34,126 | +€34,126 | |
| Current assets | 29/58 | €359,283 | €604,786 | +€245,503 | +68.3% |
| Amounts receivable within one year | 40/41 | €13,726 | €20,150 | +€6,423 | +46.8% |
| Trade receivables | 40 | €525 | €1,250 | +€725 | +138.1% |
| Other amounts receivable | 41 | €13,201 | €18,900 | +€5,698 | +43.2% |
| Current investments | 50/53 | €123,000 | €200,000 | +€77,000 | +62.6% |
| Cash at bank and in hand | 54/58 | €194,668 | €360,032 | +€165,364 | +84.9% |
| Deferred charges and accrued income | 490/1 | €27,889 | €24,604 | -€3,284 | -11.8% |
| Total equity and liabilities | 10/49 | €359,283 | €638,912 | +€279,629 | +77.8% |
| Equity | 10/15 | €299,324 | €557,312 | +€257,988 | +86.2% |
| Contributions | 10/11 | €3,500 | €3,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €295,824 | €553,812 | +€257,988 | +87.2% |
| Amounts payable | 17/49 | €59,959 | €81,600 | +€21,641 | +36.1% |
| Amounts payable within one year | 42/48 | €59,959 | €81,600 | +€21,641 | +36.1% |
| Trade debts | 44 | €9 | €218 | +€209 | +2253.7% |
| Suppliers | 440/4 | €9 | €218 | +€209 | +2253.7% |
| Taxes, remuneration and social security | 45 | €59,950 | €81,382 | +€21,432 | +35.7% |
| Taxes | 450/3 | €59,950 | €81,382 | +€21,432 | +35.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €0 | €3,185 | +€3,185 | |
| Other operating charges | 640/8 | €387 | €1,200 | +€813 | +209.9% |
| Gross operating margin | 9900 | €258,154 | €340,818 | +€82,664 | +32.0% |
| Operating profit (loss) | 9901 | €257,767 | €336,433 | +€78,666 | +30.5% |
| Financial income | 75/76B | €766 | €3,993 | +€3,227 | +421.5% |
| Recurring financial income | 75 | €766 | €3,993 | +€3,227 | +421.5% |
| Financial charges | 65/66B | €211 | €124 | -€87 | -41.2% |
| Recurring financial charges | 65 | €211 | €124 | -€87 | -41.2% |
| Profit (loss) for the period before taxes | 9903 | €258,322 | €340,302 | +€81,980 | +31.7% |
| Income taxes | 67/77 | €59,950 | €82,314 | +€22,365 | +37.3% |
| Profit (loss) for the period | 9904 | €198,372 | €257,988 | +€59,616 | +30.1% |
| Profit (loss) for the period to be appropriated | 9905 | €198,372 | €257,988 | +€59,616 | +30.1% |
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.