ALPE PROJECTS: 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.
ALPE PROJECTS
Largest movements
- Financial fixed assets -€74,974
down €74,974 (-8.0%), from €940,974 to €866,000
- Receivables within one year +€56,814
up €56,814 (+11.4%), from €496,390 to €553,205
of which Other amounts receivable: +€121,665
- Tangible fixed assets -€23,396
down €23,396 (-18.9%), from €123,766 to €100,370
of which Furniture and vehicles: -€12,313
- Profit (loss) carried forward +€153,134
up €153,134 (+32.2%), from €474,950 to €628,084
- Debts after one year -€99,163
down €99,163 (-54.8%), from €180,832 to €81,669
- Reserves -€51,496
down €51,496 (-96.5%), from €53,356 to €1,860
of which Tax-exempt reserves: -€51,496
- Trade debts -€23,818
down €23,818 (-91.6%), from €26,012 to €2,193
- Gross operating margin +€79,422
up €79,422 (+109.2%), from €72,740 to €152,162
- Financial income -€36,841
down €36,841 (-54.5%), from €67,595 to €30,754
- Other operating charges +€13,160
up €13,160 (+1133.3%), from €1,161 to €14,321
- Depreciation +€12,297
up €12,297 (+101.6%), from €12,099 to €24,396
- Taxes +€11,618
up €11,618 (+33.5%), from €34,697 to €46,314
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 | €1,833,301 | €1,800,441 | -€32,860 | -1.8% |
| Fixed assets | 21/28 | €1,064,740 | €966,370 | -€98,370 | -9.2% |
| Tangible fixed assets | 22/27 | €123,766 | €100,370 | -€23,396 | -18.9% |
| Land and buildings | 22 | €85,356 | €75,717 | -€9,639 | -11.3% |
| Plant, machinery and equipment | 23 | €1,770 | €325 | -€1,445 | -81.6% |
| Furniture and vehicles | 24 | €36,640 | €24,328 | -€12,313 | -33.6% |
| Financial fixed assets | 28 | €940,974 | €866,000 | -€74,974 | -8.0% |
| Current assets | 29/58 | €768,562 | €834,071 | +€65,509 | +8.5% |
| Amounts receivable after more than one year | 29 | €261,497 | €261,497 | = | 0.0% |
| Other amounts receivable | 291 | €261,497 | €261,497 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €496,390 | €553,205 | +€56,814 | +11.4% |
| Trade receivables | 40 | €103,207 | €38,357 | -€64,851 | -62.8% |
| Other amounts receivable | 41 | €393,183 | €514,848 | +€121,665 | +30.9% |
| Cash at bank and in hand | 54/58 | €10,271 | €19,370 | +€9,098 | +88.6% |
| Deferred charges and accrued income | 490/1 | €403 | €0 | -€403 | -100.0% |
| Total equity and liabilities | 10/49 | €1,833,301 | €1,800,441 | -€32,860 | -1.8% |
| Equity | 10/15 | €540,706 | €642,344 | +€101,638 | +18.8% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €53,356 | €1,860 | -€51,496 | -96.5% |
| Tax-exempt reserves | 132 | €51,496 | €0 | -€51,496 | -100.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €474,950 | €628,084 | +€153,134 | +32.2% |
| Provisions and deferred taxes | 16 | €13,198 | €0 | -€13,198 | -100.0% |
| Deferred taxes | 168 | €13,198 | €0 | -€13,198 | -100.0% |
| Amounts payable | 17/49 | €1,279,398 | €1,158,097 | -€121,300 | -9.5% |
| Amounts payable after more than one year | 17 | €180,832 | €81,669 | -€99,163 | -54.8% |
| Financial debts | 170/4 | €180,832 | €81,669 | -€99,163 | -54.8% |
| Amounts payable within one year | 42/48 | €1,098,565 | €1,076,428 | -€22,137 | -2.0% |
| Current portion of amounts payable after more than one year | 42 | €84,961 | €92,925 | +€7,963 | +9.4% |
| Financial debts | 43 | €20,000 | €34,421 | +€14,421 | +72.1% |
| Credit institutions | 430/8 | €20,000 | €34,421 | +€14,421 | +72.1% |
| Trade debts | 44 | €26,012 | €2,193 | -€23,818 | -91.6% |
| Suppliers | 440/4 | €26,012 | €2,193 | -€23,818 | -91.6% |
| Taxes, remuneration and social security | 45 | €27,555 | €18,932 | -€8,623 | -31.3% |
| Taxes | 450/3 | €27,161 | €16,011 | -€11,150 | -41.1% |
| Remuneration and social security | 454/9 | €394 | €2,920 | +€2,527 | +641.4% |
| Other amounts payable | 47/48 | €940,038 | €927,957 | -€12,081 | -1.3% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €1,764 | €1,757 | -€7 | -0.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,099 | €24,396 | +€12,297 | +101.6% |
| Other operating charges | 640/8 | €1,161 | €14,321 | +€13,160 | +1133.3% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €72,740 | €152,162 | +€79,422 | +109.2% |
| Operating profit (loss) | 9901 | €57,716 | €111,688 | +€53,972 | +93.5% |
| Financial income | 75/76B | €67,595 | €30,754 | -€36,841 | -54.5% |
| Recurring financial income | 75 | €67,595 | €30,754 | -€36,841 | -54.5% |
| Financial charges | 65/66B | €5,548 | €7,688 | +€2,140 | +38.6% |
| Recurring financial charges | 65 | €5,548 | €7,688 | +€2,140 | +38.6% |
| Profit (loss) for the period before taxes | 9903 | €119,764 | €134,755 | +€14,991 | +12.5% |
| Transfer from deferred taxes | 780 | - | €13,198 | +€13,198 | |
| Income taxes | 67/77 | €34,697 | €46,314 | +€11,618 | +33.5% |
| Profit (loss) for the period | 9904 | €85,067 | €101,638 | +€16,571 | +19.5% |
| Transfer from tax-exempt reserves | 789 | - | €51,496 | +€51,496 | |
| Profit (loss) for the period to be appropriated | 9905 | €85,067 | €153,134 | +€68,067 | +80.0% |
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 2 October 2026 via checked.be.