ALPA-X: 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.
ALPA-X
Largest movements
- Financial fixed assets +€643,300
up €643,300 (+252,275%), from €255 to €643,555
- Receivables within one year -€73,472
down €73,472 (-82.1%), from €89,537 to €16,064
of which Trade receivables: -€65,651
- Cash +€27,622
up €27,622 (+76.3%), from €36,208 to €63,830
mainly Net result for the year (+€224,411) and Other debts (+€139,128)
- Tangible fixed assets -€13,855
down €13,855 (-38.6%), from €35,871 to €22,016
- Reserves +€222,745
up €222,745 (+199%), from €111,942 to €334,687
- Other debts +€139,128
new in 2025: €139,128
- Debts after one year +€117,244
up €117,244 (+519%), from €22,594 to €139,838
- Tax, wage and social debts +€62,230
up €62,230 (+770%), from €8,079 to €70,309
of which Taxes: +€62,345
- Current portion of long-term debt +€35,016
up €35,016 (+262%), from €13,382 to €48,398
- Financial income +€256,816
up €256,816 (+75,797%), from €339 to €257,155
- Taxes +€65,413
up €65,413 (+548%), from €11,931 to €77,344
- Financial charges +€8,490
up €8,490 (+1,659%), from €512 to €9,002
- Gross operating margin -€807
down €807 (-1.2%), from €69,268 to €68,461
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €163,459 | €747,147 | +€583,688 | +357% |
| Fixed assets | 21/28 | €36,126 | €665,571 | +€629,445 | +1,742% |
| Tangible fixed assets | 22/27 | €35,871 | €22,016 | -€13,855 | -38.6% |
| Furniture and vehicles | 24 | €35,871 | €22,016 | -€13,855 | -38.6% |
| Financial fixed assets | 28 | €255 | €643,555 | +€643,300 | +252,275% |
| Current assets | 29/58 | €127,333 | €81,576 | -€45,757 | -35.9% |
| Amounts receivable within one year | 40/41 | €89,537 | €16,064 | -€73,472 | -82.1% |
| Trade receivables | 40 | €81,715 | €16,064 | -€65,651 | -80.3% |
| Other amounts receivable | 41 | €7,822 | - | -€7,822 | |
| Cash at bank and in hand | 54/58 | €36,208 | €63,830 | +€27,622 | +76.3% |
| Deferred charges and accrued income | 490/1 | €1,588 | €1,681 | +€93 | +5.9% |
| Total equity and liabilities | 10/49 | €163,459 | €747,147 | +€583,688 | +357% |
| Equity | 10/15 | €116,942 | €339,687 | +€222,745 | +190% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €111,942 | €334,687 | +€222,745 | +199% |
| Distributable reserves | 133 | €111,942 | €334,687 | +€222,745 | +199% |
| Amounts payable | 17/49 | €46,516 | €407,460 | +€360,943 | +776% |
| Amounts payable after more than one year | 17 | €22,594 | €139,838 | +€117,244 | +519% |
| Financial debts | 170/4 | €22,594 | €139,838 | +€117,244 | +519% |
| Amounts payable within one year | 42/48 | €23,348 | €262,214 | +€238,866 | +1,023% |
| Current portion of amounts payable after more than one year | 42 | €13,382 | €48,398 | +€35,016 | +262% |
| Trade debts | 44 | €1,887 | €4,379 | +€2,492 | +132% |
| Suppliers | 440/4 | €1,887 | €4,379 | +€2,492 | +132% |
| Taxes, remuneration and social security | 45 | €8,079 | €70,309 | +€62,230 | +770% |
| Taxes | 450/3 | €7,964 | €70,309 | +€62,345 | +783% |
| Remuneration and social security | 454/9 | €115 | - | -€115 | |
| Other amounts payable | 47/48 | - | €139,128 | +€139,128 | |
| Accrued charges and deferred income | 492/3 | €575 | €5,408 | +€4,833 | +841% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,748 | €13,855 | +€107 | +0.8% |
| Other operating charges | 640/8 | €809 | €1,003 | +€194 | +24.0% |
| Gross operating margin | 9900 | €69,268 | €68,461 | -€807 | -1.2% |
| Operating profit (loss) | 9901 | €54,711 | €53,602 | -€1,109 | -2.0% |
| Financial income | 75/76B | €339 | €257,155 | +€256,816 | +75,797% |
| Recurring financial income | 75 | €339 | €257,155 | +€256,816 | +75,797% |
| Financial charges | 65/66B | €512 | €9,002 | +€8,490 | +1,659% |
| Recurring financial charges | 65 | €512 | €9,002 | +€8,490 | +1,659% |
| Profit (loss) for the period before taxes | 9903 | €54,538 | €301,755 | +€247,217 | +453% |
| Income taxes | 67/77 | €11,931 | €77,344 | +€65,413 | +548% |
| Profit (loss) for the period | 9904 | €42,607 | €224,411 | +€181,804 | +427% |
| Profit (loss) for the period to be appropriated | 9905 | €42,607 | €224,411 | +€181,804 | +427% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.