ALPHA 4: 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.
ALPHA 4
Largest movements
- Receivables within one year -€47,997
down €47,997 (-94.3%), from €50,895 to €2,898
of which Trade receivables: -€25,068
- Cash +€35,247
up €35,247 (+549.6%), from €6,413 to €41,660
mainly Receivables within one year (+€47,997) and Other debts (+€30,000)
- Deferred charges and accrued income +€16,582
up €16,582 (+284.3%), from €5,833 to €22,415
- Tangible fixed assets -€12,370
down €12,370 (-3.3%), from €378,387 to €366,017
of which Furniture and vehicles: -€12,923
- Other debts +€30,000
new in 2025: €30,000
- Profit (loss) carried forward -€17,248
down €17,248 (-22.3%), from €77,360 to €60,112
- Tax, wage and social debts -€14,272
down €14,272 (-34.7%), from €41,107 to €26,836
of which Taxes: -€14,272
- Debts after one year -€12,436
down €12,436 (-4.1%), from €304,936 to €292,500
- Trade debts +€7,153
up €7,153 (+354.0%), from €2,021 to €9,174
- Gross operating margin +€10,907
up €10,907 (+19.5%), from €55,873 to €66,780
- Financial charges +€3,749
up €3,749 (+25.3%), from €14,840 to €18,589
- Taxes +€2,140
up €2,140 (+43.7%), from €4,894 to €7,034
- Depreciation +€1,497
up €1,497 (+5.7%), from €26,030 to €27,526
- Financial income +€899
up €899 (+91.8%), from €979 to €1,878
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 | €442,475 | €433,558 | -€8,917 | -2.0% |
| Formation expenses | 20 | €947 | €568 | -€379 | -40.0% |
| Fixed assets | 21/28 | €378,387 | €366,017 | -€12,370 | -3.3% |
| Tangible fixed assets | 22/27 | €378,387 | €366,017 | -€12,370 | -3.3% |
| Land and buildings | 22 | €362,911 | €363,464 | +€553 | +0.2% |
| Furniture and vehicles | 24 | €15,477 | €2,553 | -€12,923 | -83.5% |
| Current assets | 29/58 | €63,141 | €66,973 | +€3,832 | +6.1% |
| Amounts receivable within one year | 40/41 | €50,895 | €2,898 | -€47,997 | -94.3% |
| Trade receivables | 40 | €25,068 | - | -€25,068 | |
| Other amounts receivable | 41 | €25,827 | €2,898 | -€22,929 | -88.8% |
| Cash at bank and in hand | 54/58 | €6,413 | €41,660 | +€35,247 | +549.6% |
| Deferred charges and accrued income | 490/1 | €5,833 | €22,415 | +€16,582 | +284.3% |
| Total equity and liabilities | 10/49 | €442,475 | €433,558 | -€8,917 | -2.0% |
| Equity | 10/15 | €79,860 | €62,612 | -€17,248 | -21.6% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €77,360 | €60,112 | -€17,248 | -22.3% |
| Amounts payable | 17/49 | €362,615 | €370,946 | +€8,331 | +2.3% |
| Amounts payable after more than one year | 17 | €304,936 | €292,500 | -€12,436 | -4.1% |
| Financial debts | 170/4 | €304,936 | €292,500 | -€12,436 | -4.1% |
| Amounts payable within one year | 42/48 | €57,291 | €78,446 | +€21,155 | +36.9% |
| Current portion of amounts payable after more than one year | 42 | €14,163 | €12,436 | -€1,727 | -12.2% |
| Trade debts | 44 | €2,021 | €9,174 | +€7,153 | +354.0% |
| Suppliers | 440/4 | €2,021 | €9,174 | +€7,153 | +354.0% |
| Taxes, remuneration and social security | 45 | €41,107 | €26,836 | -€14,272 | -34.7% |
| Taxes | 450/3 | €36,707 | €22,436 | -€14,272 | -38.9% |
| Remuneration and social security | 454/9 | €4,400 | €4,400 | = | 0.0% |
| Other amounts payable | 47/48 | - | €30,000 | +€30,000 | |
| Accrued charges and deferred income | 492/3 | €387 | - | -€387 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,030 | €27,526 | +€1,497 | +5.7% |
| Other operating charges | 640/8 | €3,317 | €2,758 | -€559 | -16.8% |
| Gross operating margin | 9900 | €55,873 | €66,780 | +€10,907 | +19.5% |
| Operating profit (loss) | 9901 | €26,527 | €36,496 | +€9,969 | +37.6% |
| Financial income | 75/76B | €979 | €1,878 | +€899 | +91.8% |
| Recurring financial income | 75 | €979 | €1,878 | +€899 | +91.8% |
| Financial charges | 65/66B | €14,840 | €18,589 | +€3,749 | +25.3% |
| Recurring financial charges | 65 | €14,840 | €18,589 | +€3,749 | +25.3% |
| Profit (loss) for the period before taxes | 9903 | €12,666 | €19,785 | +€7,120 | +56.2% |
| Income taxes | 67/77 | €4,894 | €7,034 | +€2,140 | +43.7% |
| Profit (loss) for the period | 9904 | €7,772 | €12,752 | +€4,980 | +64.1% |
| Profit (loss) for the period to be appropriated | 9905 | €7,772 | €12,752 | +€4,980 | +64.1% |
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 9 October 2026 via checked.be.