ALPAS: 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.
ALPAS
Largest movements
- Current investments -€200,009
down €200,009 (-90.8%), from €220,254 to €20,245
- Receivables within one year -€169,385
down €169,385 (-5.0%), from €3.4m to €3.2m
of which Trade receivables: -€184,908
- Cash +€143,585
up €143,585 (+9.6%), from €1.5m to €1.6m
mainly Current investments (+€200,009) and Receivables within one year (+€169,385)
- Trade debts -€353,629
down €353,629 (-9.8%), from €3.6m to €3.2m
- Profit (loss) carried forward +€84,774
up €84,774 (+5.0%), from €1.7m to €1.8m
- Staff costs +€202,534
up €202,534 (+14.8%), from €1.4m to €1.6m
- Other operating charges -€117,559
down €117,559 (-82.1%), from €143,278 to €25,718
- Gross operating margin +€51,132
up €51,132 (+2.9%), from €1.8m to €1.8m
- Taxes +€24,359
up €24,359 (+38.7%), from €62,919 to €87,278
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 | €6,643,420 | €6,379,055 | -€264,365 | -4.0% |
| Fixed assets | 21/28 | €1,540,506 | €1,501,950 | -€38,556 | -2.5% |
| Intangible fixed assets | 21 | €42,000 | €36,000 | -€6,000 | -14.3% |
| Tangible fixed assets | 22/27 | €104,594 | €72,038 | -€32,556 | -31.1% |
| Plant, machinery and equipment | 23 | €5,880 | €2,848 | -€3,032 | -51.6% |
| Furniture and vehicles | 24 | €87,923 | €67,032 | -€20,891 | -23.8% |
| Leasing and similar rights | 25 | €10,791 | €2,158 | -€8,633 | -80.0% |
| Financial fixed assets | 28 | €1,393,912 | €1,393,912 | = | 0.0% |
| Current assets | 29/58 | €5,102,914 | €4,877,105 | -€225,809 | -4.4% |
| Amounts receivable within one year | 40/41 | €3,388,380 | €3,218,995 | -€169,385 | -5.0% |
| Trade receivables | 40 | €3,335,451 | €3,150,542 | -€184,908 | -5.5% |
| Other amounts receivable | 41 | €52,929 | €68,453 | +€15,524 | +29.3% |
| Current investments | 50/53 | €220,254 | €20,245 | -€200,009 | -90.8% |
| Cash at bank and in hand | 54/58 | €1,494,280 | €1,637,865 | +€143,585 | +9.6% |
| Total equity and liabilities | 10/49 | €6,643,420 | €6,379,055 | -€264,365 | -4.0% |
| Equity | 10/15 | €2,808,758 | €2,893,531 | +€84,774 | +3.0% |
| Contributions | 10/11 | €556,000 | €556,000 | = | 0.0% |
| Capital | 10 | €556,000 | €556,000 | = | 0.0% |
| Issued capital | 100 | €556,000 | €556,000 | = | 0.0% |
| Reserves | 13 | €550,593 | €550,593 | = | 0.0% |
| Non-distributable reserves | 130/1 | €55,600 | €55,600 | = | 0.0% |
| Legal reserve | 130 | €55,600 | €55,600 | = | 0.0% |
| Distributable reserves | 133 | €494,993 | €494,993 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,702,165 | €1,786,939 | +€84,774 | +5.0% |
| Amounts payable | 17/49 | €3,834,663 | €3,485,523 | -€349,139 | -9.1% |
| Amounts payable after more than one year | 17 | €28,469 | €24,129 | -€4,340 | -15.2% |
| Financial debts | 170/4 | €28,469 | €24,129 | -€4,340 | -15.2% |
| Amounts payable within one year | 42/48 | €3,806,193 | €3,461,394 | -€344,799 | -9.1% |
| Current portion of amounts payable after more than one year | 42 | €95,749 | €101,014 | +€5,265 | +5.5% |
| Trade debts | 44 | €3,603,159 | €3,249,531 | -€353,629 | -9.8% |
| Suppliers | 440/4 | €3,603,159 | €3,249,531 | -€353,629 | -9.8% |
| Taxes, remuneration and social security | 45 | €93,077 | €96,642 | +€3,565 | +3.8% |
| Taxes | 450/3 | €6,508 | €0 | -€6,508 | -100.0% |
| Remuneration and social security | 454/9 | €86,569 | €96,642 | +€10,073 | +11.6% |
| Other amounts payable | 47/48 | €14,208 | €14,208 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €290,906 | €0 | -€290,906 | -100.0% |
| Remuneration, social security and pensions | 62 | €1,364,171 | €1,566,705 | +€202,534 | +14.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €63,352 | €61,460 | -€1,891 | -3.0% |
| Other operating charges | 640/8 | €143,278 | €25,718 | -€117,559 | -82.1% |
| Non-recurring operating charges | 66A | €12,392 | €19,786 | +€7,394 | +59.7% |
| Gross operating margin | 9900 | €1,781,216 | €1,832,348 | +€51,132 | +2.9% |
| Operating profit (loss) | 9901 | €198,023 | €158,679 | -€39,344 | -19.9% |
| Financial income | 75/76B | €45,620 | €37,935 | -€7,686 | -16.8% |
| Recurring financial income | 75 | €45,620 | €37,935 | -€7,686 | -16.8% |
| Financial charges | 65/66B | €26,364 | €24,562 | -€1,801 | -6.8% |
| Recurring financial charges | 65 | €26,364 | €24,562 | -€1,801 | -6.8% |
| Profit (loss) for the period before taxes | 9903 | €217,280 | €172,051 | -€45,229 | -20.8% |
| Income taxes | 67/77 | €62,919 | €87,278 | +€24,359 | +38.7% |
| Profit (loss) for the period | 9904 | €154,361 | €84,774 | -€69,588 | -45.1% |
| Profit (loss) for the period to be appropriated | 9905 | €154,361 | €84,774 | -€69,588 | -45.1% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.