ALPENCO: 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.
ALPENCO
Largest movements
- Cash -€4,400
down €4,400 (-2.7%), from €163,171 to €158,771
mainly Net result for the year (-€5,159) and Tax, wage and social debts (-€1,373)
- Profit (loss) carried forward -€5,159
down €5,159 (-3.8%), from €136,736 to €131,577
- Gross operating margin +€1,404
up €1,404 (+26.4%), from -€5,317 to -€3,913
- Financial charges +€216
up €216 (+35.8%), from €603 to €819
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 | €265,317 | €258,292 | -€7,025 | -2.6% |
| Fixed assets | 21/28 | €1,267 | €840 | -€427 | -33.7% |
| Tangible fixed assets | 22/27 | €1,267 | €840 | -€427 | -33.7% |
| Plant, machinery and equipment | 23 | €1,267 | €840 | -€427 | -33.7% |
| Current assets | 29/58 | €264,050 | €257,452 | -€6,598 | -2.5% |
| Amounts receivable within one year | 40/41 | €100,879 | €98,681 | -€2,198 | -2.2% |
| Trade receivables | 40 | €10,132 | €5,869 | -€4,263 | -42.1% |
| Other amounts receivable | 41 | €90,747 | €92,812 | +€2,065 | +2.3% |
| Cash at bank and in hand | 54/58 | €163,171 | €158,771 | -€4,400 | -2.7% |
| Total equity and liabilities | 10/49 | €265,317 | €258,292 | -€7,025 | -2.6% |
| Equity | 10/15 | €181,767 | €176,608 | -€5,159 | -2.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €26,431 | €26,431 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €24,571 | €24,571 | = | 0.0% |
| Profit (loss) carried forward | 14 | €136,736 | €131,577 | -€5,159 | -3.8% |
| Amounts payable | 17/49 | €83,550 | €81,684 | -€1,866 | -2.2% |
| Amounts payable within one year | 42/48 | €83,550 | €81,684 | -€1,866 | -2.2% |
| Trade debts | 44 | €1,857 | €535 | -€1,322 | -71.2% |
| Suppliers | 440/4 | €1,857 | €535 | -€1,322 | -71.2% |
| Taxes, remuneration and social security | 45 | €1,373 | - | -€1,373 | |
| Remuneration and social security | 454/9 | €1,373 | - | -€1,373 | |
| Other amounts payable | 47/48 | €80,320 | €81,149 | +€829 | +1.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €427 | €427 | = | 0.0% |
| Gross operating margin | 9900 | -€5,317 | -€3,913 | +€1,404 | +26.4% |
| Operating profit (loss) | 9901 | -€5,744 | -€4,340 | +€1,404 | +24.4% |
| Financial charges | 65/66B | €603 | €819 | +€216 | +35.8% |
| Recurring financial charges | 65 | €603 | €819 | +€216 | +35.8% |
| Profit (loss) for the period before taxes | 9903 | -€6,347 | -€5,159 | +€1,188 | +18.7% |
| Profit (loss) for the period | 9904 | -€6,347 | -€5,159 | +€1,188 | +18.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€6,347 | -€5,159 | +€1,188 | +18.7% |
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 15 October 2026 via checked.be.