ALPEBO: 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.
ALPEBO
Largest movements
- Cash -€338,741
down €338,741 (-28.5%), from €1.2m to €850,372
mainly Investment in fixed assets (net) (-€309,954) and Tax, wage and social debts (-€113,067)
- Tangible fixed assets +€298,908
up €298,908 (+15,352%), from €1,947 to €300,855
of which Land and buildings: +€271,152
- Receivables within one year -€19,999
down €19,999 (-49.0%), from €40,830 to €20,832
of which Trade receivables: -€24,714
- Tax, wage and social debts -€113,067
down €113,067 (-89.9%), from €125,836 to €12,769
- Reserves +€51,940
up €51,940 (+4.8%), from €1.1m to €1.1m
of which Distributable reserves: +€51,940
- Gross operating margin -€98,825
down €98,825 (-52.8%), from €187,097 to €88,272
- Taxes -€31,626
down €31,626 (-55.3%), from €57,176 to €25,550
- Depreciation +€10,407
up €10,407 (+1,628%), from €639 to €11,047
- Provisions -€10,000
no longer reported in 2025 (was €10,000)
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 | €1,231,890 | €1,172,161 | -€59,730 | -4.8% |
| Fixed assets | 21/28 | €1,947 | €300,855 | +€298,908 | +15,352% |
| Tangible fixed assets | 22/27 | €1,947 | €300,855 | +€298,908 | +15,352% |
| Land and buildings | 22 | - | €271,152 | +€271,152 | |
| Plant, machinery and equipment | 23 | €1,947 | €1,308 | -€639 | -32.8% |
| Furniture and vehicles | 24 | - | €28,395 | +€28,395 | |
| Current assets | 29/58 | €1,229,943 | €871,306 | -€358,637 | -29.2% |
| Amounts receivable within one year | 40/41 | €40,830 | €20,832 | -€19,999 | -49.0% |
| Trade receivables | 40 | €40,830 | €16,116 | -€24,714 | -60.5% |
| Other amounts receivable | 41 | - | €4,715 | +€4,715 | |
| Cash at bank and in hand | 54/58 | €1,189,113 | €850,372 | -€338,741 | -28.5% |
| Deferred charges and accrued income | 490/1 | - | €103 | +€103 | |
| Total equity and liabilities | 10/49 | €1,231,890 | €1,172,161 | -€59,730 | -4.8% |
| Equity | 10/15 | €1,090,383 | €1,142,323 | +€51,940 | +4.8% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Reserves | 13 | €1,083,770 | €1,135,710 | +€51,940 | +4.8% |
| Tax-exempt reserves | 132 | €147,350 | €147,350 | = | 0.0% |
| Distributable reserves | 133 | €936,420 | €988,360 | +€51,940 | +5.5% |
| Profit (loss) carried forward | 14 | €613 | €613 | = | 0.0% |
| Provisions and deferred taxes | 16 | €10,000 | €10,000 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €10,000 | €10,000 | = | 0.0% |
| Other liabilities and charges | 164/5 | €10,000 | €10,000 | = | 0.0% |
| Amounts payable | 17/49 | €131,508 | €19,838 | -€111,670 | -84.9% |
| Amounts payable within one year | 42/48 | €129,438 | €16,213 | -€113,225 | -87.5% |
| Trade debts | 44 | €2,603 | €2,617 | +€14 | +0.5% |
| Suppliers | 440/4 | €2,603 | €2,617 | +€14 | +0.5% |
| Taxes, remuneration and social security | 45 | €125,836 | €12,769 | -€113,067 | -89.9% |
| Taxes | 450/3 | €125,836 | €12,769 | -€113,067 | -89.9% |
| Other amounts payable | 47/48 | €999 | €827 | -€172 | -17.2% |
| Accrued charges and deferred income | 492/3 | €2,070 | €3,625 | +€1,556 | +75.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €639 | €11,047 | +€10,407 | +1,628% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €10,000 | - | -€10,000 | |
| Other operating charges | 640/8 | €473 | €1,263 | +€789 | +167% |
| Gross operating margin | 9900 | €187,097 | €88,272 | -€98,825 | -52.8% |
| Operating profit (loss) | 9901 | €175,985 | €75,963 | -€100,022 | -56.8% |
| Financial income | 75/76B | €2,122 | €1,769 | -€353 | -16.6% |
| Recurring financial income | 75 | €2,122 | €1,769 | -€353 | -16.6% |
| Financial charges | 65/66B | €153 | €242 | +€89 | +58.0% |
| Recurring financial charges | 65 | €153 | €242 | +€89 | +58.0% |
| Profit (loss) for the period before taxes | 9903 | €177,953 | €77,490 | -€100,464 | -56.5% |
| Income taxes | 67/77 | €57,176 | €25,550 | -€31,626 | -55.3% |
| Profit (loss) for the period | 9904 | €120,777 | €51,940 | -€68,837 | -57.0% |
| Profit (loss) for the period to be appropriated | 9905 | €120,777 | €51,940 | -€68,837 | -57.0% |
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.