Alpala: 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.
Alpala
Largest movements
- Current investments +€198,026
new in 2025: €198,026
- Cash -€101,362
down €101,362 (-17.7%), from €574,177 to €472,815
mainly Contributions, distributions and other (-€300,000) and Current investments (-€198,026)
- Reserves +€202,026
up €202,026 (+26.2%), from €769,970 to €971,996
- Debts after one year -€100,000
down €100,000 (-1.7%), from €5.8m to €5.7m
- Gross operating margin -€43,926
down €43,926 (-26.7%), from €164,523 to €120,597
- Taxes -€9,498
down €9,498 (-89.4%), from €10,626 to €1,128
- Financial charges -€1,956
down €1,956 (-1.7%), from €117,342 to €115,386
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 | €7,579,563 | €7,684,979 | +€105,416 | +1.4% |
| Fixed assets | 21/28 | €7,001,879 | €7,000,939 | -€939 | 0.0% |
| Tangible fixed assets | 22/27 | €1,879 | €939 | -€939 | -50.0% |
| Plant, machinery and equipment | 23 | €1,879 | €939 | -€939 | -50.0% |
| Financial fixed assets | 28 | €7,000,000 | €7,000,000 | = | 0.0% |
| Current assets | 29/58 | €577,684 | €684,039 | +€106,355 | +18.4% |
| Amounts receivable within one year | 40/41 | €2,110 | €12,258 | +€10,148 | +481% |
| Trade receivables | 40 | €2,100 | €3,166 | +€1,066 | +50.8% |
| Other amounts receivable | 41 | €10 | €9,092 | +€9,082 | +92,487% |
| Current investments | 50/53 | - | €198,026 | +€198,026 | |
| Cash at bank and in hand | 54/58 | €574,177 | €472,815 | -€101,362 | -17.7% |
| Deferred charges and accrued income | 490/1 | €1,398 | €941 | -€457 | -32.7% |
| Total equity and liabilities | 10/49 | €7,579,563 | €7,684,979 | +€105,416 | +1.4% |
| Equity | 10/15 | €1,019,970 | €1,221,996 | +€202,026 | +19.8% |
| Contributions | 10/11 | €250,000 | €250,000 | = | 0.0% |
| Reserves | 13 | €769,970 | €971,996 | +€202,026 | +26.2% |
| Distributable reserves | 133 | €769,970 | €971,996 | +€202,026 | +26.2% |
| Amounts payable | 17/49 | €6,559,593 | €6,462,983 | -€96,611 | -1.5% |
| Amounts payable after more than one year | 17 | €5,825,000 | €5,725,000 | -€100,000 | -1.7% |
| Financial debts | 170/4 | €5,825,000 | €5,725,000 | -€100,000 | -1.7% |
| Amounts payable within one year | 42/48 | €658,871 | €661,855 | +€2,984 | +0.5% |
| Current portion of amounts payable after more than one year | 42 | €300,000 | €300,000 | = | 0.0% |
| Trade debts | 44 | €19 | €3,531 | +€3,512 | +18,580% |
| Suppliers | 440/4 | €19 | €3,531 | +€3,512 | +18,580% |
| Taxes, remuneration and social security | 45 | €57,106 | €56,578 | -€528 | -0.9% |
| Taxes | 450/3 | €57,106 | €56,578 | -€528 | -0.9% |
| Other amounts payable | 47/48 | €301,746 | €301,746 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €75,723 | €76,128 | +€405 | +0.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €939 | €939 | = | 0.0% |
| Other operating charges | 640/8 | €1,097 | €1,118 | +€22 | +2.0% |
| Gross operating margin | 9900 | €164,523 | €120,597 | -€43,926 | -26.7% |
| Operating profit (loss) | 9901 | €162,487 | €118,540 | -€43,948 | -27.0% |
| Financial income | 75/76B | €500,000 | €500,000 | = | 0.0% |
| Recurring financial income | 75 | €500,000 | €500,000 | = | 0.0% |
| Financial charges | 65/66B | €117,342 | €115,386 | -€1,956 | -1.7% |
| Recurring financial charges | 65 | €117,342 | €115,386 | -€1,956 | -1.7% |
| Profit (loss) for the period before taxes | 9903 | €545,145 | €503,154 | -€41,991 | -7.7% |
| Income taxes | 67/77 | €10,626 | €1,128 | -€9,498 | -89.4% |
| Profit (loss) for the period | 9904 | €534,519 | €502,026 | -€32,493 | -6.1% |
| Profit (loss) for the period to be appropriated | 9905 | €534,519 | €502,026 | -€32,493 | -6.1% |
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 24 October 2026 via checked.be.