ALPAGO: 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.
ALPAGO
Largest movements
- Tangible fixed assets -€2,266
down €2,266 (-21.6%), from €10,482 to €8,215
- Receivables within one year -€600
down €600 (-27.6%), from €2,172 to €1,572
of which Trade receivables: -€605
- Cash -€370
down €370 (-20.7%), from €1,786 to €1,416
mainly Net result for the year (-€4,408)
- Profit (loss) carried forward -€4,408
down €4,408 (-23.9%), from -€18,466 to -€22,874
- Other debts +€1,000
up €1,000 (+3.7%), from €26,782 to €27,782
- Gross operating margin -€3,460
down €3,460, from €1,915 to -€1,545
- Financial charges +€64
up €64 (+128%), from €50 to €114
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 | €14,516 | €11,220 | -€3,296 | -22.7% |
| Fixed assets | 21/28 | €10,482 | €8,215 | -€2,266 | -21.6% |
| Tangible fixed assets | 22/27 | €10,482 | €8,215 | -€2,266 | -21.6% |
| Land and buildings | 22 | €5,106 | €4,023 | -€1,084 | -21.2% |
| Plant, machinery and equipment | 23 | €1,745 | €1,552 | -€192 | -11.0% |
| Furniture and vehicles | 24 | €3,631 | €2,641 | -€990 | -27.3% |
| Current assets | 29/58 | €4,034 | €3,005 | -€1,029 | -25.5% |
| Amounts receivable within one year | 40/41 | €2,172 | €1,572 | -€600 | -27.6% |
| Trade receivables | 40 | €2,162 | €1,557 | -€605 | -28.0% |
| Other amounts receivable | 41 | €10 | €15 | +€5 | +48.5% |
| Cash at bank and in hand | 54/58 | €1,786 | €1,416 | -€370 | -20.7% |
| Deferred charges and accrued income | 490/1 | €76 | €16 | -€59 | -78.4% |
| Total equity and liabilities | 10/49 | €14,516 | €11,220 | -€3,296 | -22.7% |
| Equity | 10/15 | -€12,266 | -€16,674 | -€4,408 | -35.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Contributions outside capital | 11 | €6,200 | €6,200 | = | 0.0% |
| Other | 1109/19 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€18,466 | -€22,874 | -€4,408 | -23.9% |
| Amounts payable | 17/49 | €26,782 | €27,894 | +€1,112 | +4.2% |
| Amounts payable within one year | 42/48 | €26,782 | €27,894 | +€1,112 | +4.2% |
| Trade debts | 44 | - | €112 | +€112 | |
| Suppliers | 440/4 | - | €112 | +€112 | |
| Other amounts payable | 47/48 | €26,782 | €27,782 | +€1,000 | +3.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,254 | €2,266 | +€12 | +0.5% |
| Other operating charges | 640/8 | €481 | €497 | +€16 | +3.3% |
| Gross operating margin | 9900 | €1,915 | -€1,545 | -€3,460 | |
| Operating profit (loss) | 9901 | -€821 | -€4,309 | -€3,488 | -425% |
| Financial income | 75/76B | - | €15 | +€15 | |
| Recurring financial income | 75 | - | €15 | +€15 | |
| Financial charges | 65/66B | €50 | €114 | +€64 | +128% |
| Recurring financial charges | 65 | €50 | €114 | +€64 | +128% |
| Profit (loss) for the period before taxes | 9903 | -€871 | -€4,408 | -€3,537 | -406% |
| Profit (loss) for the period | 9904 | -€871 | -€4,408 | -€3,537 | -406% |
| Profit (loss) for the period to be appropriated | 9905 | -€871 | -€4,408 | -€3,537 | -406% |
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 17 October 2026 via checked.be.