ALPABA: 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.
ALPABA
Largest movements
- Tangible fixed assets +€741,703
up €741,703 (+46.4%), from €1.6m to €2.3m
of which Land and buildings: +€737,656
- Other debts +€764,090
up €764,090 (+86.4%), from €884,550 to €1.6m
- Profit (loss) carried forward -€246,020
down €246,020 (-141.1%), from -€174,420 to -€420,440
- Debts after one year +€126,295
up €126,295 (+15.0%), from €839,644 to €965,939
- Investment grants +€83,065
new in 2025: €83,065
- Trade debts -€40,675
down €40,675 (-68.5%), from €59,406 to €18,731
- Depreciation +€96,262
up €96,262 (+115.7%), from €83,169 to €179,431
- Financial charges +€23,396
up €23,396 (+143.5%), from €16,306 to €39,701
- Staff costs +€19,513
new in 2025: €19,513
- Financial income +€6,677
new in 2025: €6,677
- Gross operating margin -€4,880
down €4,880 (-230.6%), from -€2,117 to -€6,997
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 | €1,629,641 | €2,351,148 | +€721,507 | +44.3% |
| Fixed assets | 21/28 | €1,599,164 | €2,340,866 | +€741,703 | +46.4% |
| Tangible fixed assets | 22/27 | €1,599,164 | €2,340,866 | +€741,703 | +46.4% |
| Land and buildings | 22 | €1,592,937 | €2,330,592 | +€737,656 | +46.3% |
| Furniture and vehicles | 24 | €6,227 | €10,274 | +€4,047 | +65.0% |
| Current assets | 29/58 | €30,477 | €10,281 | -€20,196 | -66.3% |
| Amounts receivable within one year | 40/41 | €7,824 | €7,553 | -€271 | -3.5% |
| Trade receivables | 40 | €3,630 | €4,840 | +€1,210 | +33.3% |
| Other amounts receivable | 41 | €4,194 | €2,713 | -€1,481 | -35.3% |
| Cash at bank and in hand | 54/58 | €21,639 | €2,728 | -€18,911 | -87.4% |
| Deferred charges and accrued income | 490/1 | €1,014 | - | -€1,014 | |
| Total equity and liabilities | 10/49 | €1,629,641 | €2,351,148 | +€721,507 | +44.3% |
| Equity | 10/15 | -€153,960 | -€316,915 | -€162,955 | -105.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€174,420 | -€420,440 | -€246,020 | -141.1% |
| Investment grants | 15 | - | €83,065 | +€83,065 | |
| Amounts payable | 17/49 | €1,783,600 | €2,668,062 | +€884,462 | +49.6% |
| Amounts payable after more than one year | 17 | €839,644 | €965,939 | +€126,295 | +15.0% |
| Financial debts | 170/4 | €839,644 | €965,939 | +€126,295 | +15.0% |
| Amounts payable within one year | 42/48 | €943,956 | €1,702,123 | +€758,167 | +80.3% |
| Current portion of amounts payable after more than one year | 42 | - | €32,693 | +€32,693 | |
| Trade debts | 44 | €59,406 | €18,731 | -€40,675 | -68.5% |
| Suppliers | 440/4 | €59,406 | €18,731 | -€40,675 | -68.5% |
| Taxes, remuneration and social security | 45 | - | €2,058 | +€2,058 | |
| Remuneration and social security | 454/9 | - | €2,058 | +€2,058 | |
| Other amounts payable | 47/48 | €884,550 | €1,648,640 | +€764,090 | +86.4% |
| Remuneration, social security and pensions | 62 | - | €19,513 | +€19,513 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €83,169 | €179,431 | +€96,262 | +115.7% |
| Other operating charges | 640/8 | €5,011 | €7,055 | +€2,045 | +40.8% |
| Gross operating margin | 9900 | -€2,117 | -€6,997 | -€4,880 | -230.6% |
| Operating profit (loss) | 9901 | -€90,296 | -€212,996 | -€122,700 | -135.9% |
| Financial income | 75/76B | - | €6,677 | +€6,677 | |
| Recurring financial income | 75 | - | €6,677 | +€6,677 | |
| Financial charges | 65/66B | €16,306 | €39,701 | +€23,396 | +143.5% |
| Recurring financial charges | 65 | €16,306 | €39,701 | +€23,396 | +143.5% |
| Profit (loss) for the period before taxes | 9903 | -€106,602 | -€246,020 | -€139,419 | -130.8% |
| Profit (loss) for the period | 9904 | -€106,602 | -€246,020 | -€139,419 | -130.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€106,602 | -€246,020 | -€139,419 | -130.8% |
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 7 October 2026 via checked.be.