Alpaerts: 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.
Alpaerts
Largest movements
- Tangible fixed assets +€37,631
up €37,631 (+17.4%), from €216,439 to €254,070
- Profit (loss) carried forward +€29,043
up €29,043 (+59.7%), from -€48,638 to -€19,595
- Gross operating margin +€6,928
up €6,928 (+12.9%), from €53,622 to €60,550
- Depreciation +€3,750
up €3,750 (+23.6%), from €15,884 to €19,634
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 | €700,270 | €736,424 | +€36,154 | +5.2% |
| Fixed assets | 21/28 | €216,439 | €254,070 | +€37,631 | +17.4% |
| Tangible fixed assets | 22/27 | €216,439 | €254,070 | +€37,631 | +17.4% |
| Land and buildings | 22 | €216,439 | €254,070 | +€37,631 | +17.4% |
| Current assets | 29/58 | €483,831 | €482,354 | -€1,477 | -0.3% |
| Amounts receivable within one year | 40/41 | €479,632 | €479,883 | +€251 | +0.1% |
| Trade receivables | 40 | €3,384 | €3,539 | +€155 | +4.6% |
| Other amounts receivable | 41 | €476,248 | €476,345 | +€97 | 0.0% |
| Cash at bank and in hand | 54/58 | €2,965 | €2,471 | -€494 | -16.7% |
| Deferred charges and accrued income | 490/1 | €1,234 | €0 | -€1,234 | -100% |
| Total equity and liabilities | 10/49 | €700,270 | €736,424 | +€36,154 | +5.2% |
| Equity | 10/15 | €645,444 | €674,487 | +€29,043 | +4.5% |
| Contributions | 10/11 | €652,828 | €652,828 | = | 0.0% |
| Capital | 10 | €652,828 | €652,828 | = | 0.0% |
| Issued capital | 100 | €652,828 | €652,828 | = | 0.0% |
| Reserves | 13 | €41,254 | €41,254 | = | 0.0% |
| Non-distributable reserves | 130/1 | €41,254 | €41,254 | = | 0.0% |
| Legal reserve | 130 | €41,254 | €41,254 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€48,638 | -€19,595 | +€29,043 | +59.7% |
| Amounts payable | 17/49 | €54,826 | €61,937 | +€7,112 | +13.0% |
| Amounts payable within one year | 42/48 | €54,826 | €61,937 | +€7,112 | +13.0% |
| Trade debts | 44 | €732 | €6,947 | +€6,215 | +849% |
| Suppliers | 440/4 | €732 | €6,947 | +€6,215 | +849% |
| Other amounts payable | 47/48 | €54,094 | €54,990 | +€897 | +1.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,884 | €19,634 | +€3,750 | +23.6% |
| Other operating charges | 640/8 | €11,566 | €11,891 | +€326 | +2.8% |
| Gross operating margin | 9900 | €53,622 | €60,550 | +€6,928 | +12.9% |
| Operating profit (loss) | 9901 | €26,173 | €29,025 | +€2,852 | +10.9% |
| Financial income | 75/76B | €0 | €380 | +€380 | +158,342% |
| Recurring financial income | 75 | €0 | €380 | +€380 | +158,342% |
| Financial charges | 65/66B | €380 | €362 | -€18 | -4.6% |
| Recurring financial charges | 65 | €380 | €362 | -€18 | -4.6% |
| Profit (loss) for the period before taxes | 9903 | €25,793 | €29,043 | +€3,250 | +12.6% |
| Profit (loss) for the period | 9904 | €25,793 | €29,043 | +€3,250 | +12.6% |
| Profit (loss) for the period to be appropriated | 9905 | €25,793 | €29,043 | +€3,250 | +12.6% |
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 18 October 2026 via checked.be.