ALPHA ADVICE: 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 ADVICE
Largest movements
- Cash -€215,830
down €215,830 (-48.9%), from €441,539 to €225,708
mainly Receivables after one year (-€105,000) and Tax, wage and social debts (-€72,557)
- Receivables after one year +€105,000
new in 2025: €105,000
- Tangible fixed assets -€92,956
down €92,956 (-2.3%), from €4.1m to €4.0m
of which Land and buildings: -€70,405
- Receivables within one year +€58,836
up €58,836 (+58.3%), from €100,919 to €159,756
of which Other amounts receivable: +€58,418
- Tax, wage and social debts -€72,557
down €72,557 (-73.4%), from €98,902 to €26,344
- Debts after one year -€57,911
down €57,911 (-1.9%), from €3.1m to €3.0m
- Gross operating margin -€760,179
down €760,179 (-84.8%), from €896,590 to €136,411
- Taxes -€230,119
down €230,119 (-99.5%), from €231,346 to €1,227
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 | €4,614,525 | €4,471,648 | -€142,876 | -3.1% |
| Fixed assets | 21/28 | €4,065,338 | €3,972,382 | -€92,956 | -2.3% |
| Tangible fixed assets | 22/27 | €4,063,338 | €3,970,382 | -€92,956 | -2.3% |
| Land and buildings | 22 | €3,940,657 | €3,870,252 | -€70,405 | -1.8% |
| Plant, machinery and equipment | 23 | €20,307 | €13,373 | -€6,934 | -34.1% |
| Furniture and vehicles | 24 | €102,373 | €86,756 | -€15,617 | -15.3% |
| Financial fixed assets | 28 | €2,000 | €2,000 | = | 0.0% |
| Current assets | 29/58 | €549,187 | €499,266 | -€49,921 | -9.1% |
| Amounts receivable after more than one year | 29 | - | €105,000 | +€105,000 | |
| Other amounts receivable | 291 | - | €105,000 | +€105,000 | |
| Amounts receivable within one year | 40/41 | €100,919 | €159,756 | +€58,836 | +58.3% |
| Trade receivables | 40 | €2,910 | €3,328 | +€418 | +14.4% |
| Other amounts receivable | 41 | €98,009 | €156,427 | +€58,418 | +59.6% |
| Cash at bank and in hand | 54/58 | €441,539 | €225,708 | -€215,830 | -48.9% |
| Deferred charges and accrued income | 490/1 | €6,729 | €8,803 | +€2,074 | +30.8% |
| Total equity and liabilities | 10/49 | €4,614,525 | €4,471,648 | -€142,876 | -3.1% |
| Equity | 10/15 | €1,191,579 | €1,179,883 | -€11,696 | -1.0% |
| Contributions | 10/11 | €12,500 | €12,500 | = | 0.0% |
| Reserves | 13 | €401,250 | €401,250 | = | 0.0% |
| Distributable reserves | 133 | €401,250 | €401,250 | = | 0.0% |
| Profit (loss) carried forward | 14 | €777,829 | €766,133 | -€11,696 | -1.5% |
| Amounts payable | 17/49 | €3,422,945 | €3,291,765 | -€131,181 | -3.8% |
| Amounts payable after more than one year | 17 | €3,058,490 | €3,000,579 | -€57,911 | -1.9% |
| Financial debts | 170/4 | €3,058,490 | €3,000,579 | -€57,911 | -1.9% |
| Amounts payable within one year | 42/48 | €364,455 | €284,083 | -€80,372 | -22.1% |
| Current portion of amounts payable after more than one year | 42 | €56,891 | €57,911 | +€1,020 | +1.8% |
| Trade debts | 44 | €7,947 | €1,366 | -€6,582 | -82.8% |
| Suppliers | 440/4 | €7,947 | €1,366 | -€6,582 | -82.8% |
| Taxes, remuneration and social security | 45 | €98,902 | €26,344 | -€72,557 | -73.4% |
| Taxes | 450/3 | €98,902 | €26,344 | -€72,557 | -73.4% |
| Other amounts payable | 47/48 | €200,715 | €198,462 | -€2,253 | -1.1% |
| Accrued charges and deferred income | 492/3 | - | €7,103 | +€7,103 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €97,401 | €93,461 | -€3,940 | -4.0% |
| Other operating charges | 640/8 | €2,698 | €5,818 | +€3,120 | +115.6% |
| Gross operating margin | 9900 | €896,590 | €136,411 | -€760,179 | -84.8% |
| Operating profit (loss) | 9901 | €796,490 | €37,132 | -€759,358 | -95.3% |
| Financial income | 75/76B | €0 | €4,037 | +€4,036 | +5045587.5% |
| Recurring financial income | 75 | €0 | €4,037 | +€4,036 | +5045587.5% |
| Financial charges | 65/66B | €48,032 | €47,136 | -€896 | -1.9% |
| Recurring financial charges | 65 | €48,032 | €47,136 | -€896 | -1.9% |
| Profit (loss) for the period before taxes | 9903 | €748,458 | -€5,967 | -€754,425 | |
| Income taxes | 67/77 | €231,346 | €1,227 | -€230,119 | -99.5% |
| Profit (loss) for the period | 9904 | €517,112 | -€7,194 | -€524,306 | |
| Profit (loss) for the period to be appropriated | 9905 | €517,112 | -€7,194 | -€524,306 |
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 11 October 2026 via checked.be.