ALPHA-B: 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-B
Largest movements
- Tangible fixed assets -€168,382
down €168,382 (-14.4%), from €1.2m to €997,071
of which Land and buildings: -€166,388
- Debts after one year -€152,376
down €152,376 (-32.4%), from €470,239 to €317,863
- Profit (loss) carried forward -€100,128
down €100,128 (-27.9%), from -€358,900 to -€459,028
- Other debts +€83,996
up €83,996 (+676%), from €12,425 to €96,421
- Write-downs +€72,853
new in 2025: €72,853
- Gross operating margin +€21,101
up €21,101 (+15.2%), from €138,998 to €160,099
- Financial charges -€4,641
down €4,641 (-22.1%), from €21,032 to €16,391
- Financial income -€2,724
down €2,724 (-22.2%), from €12,283 to €9,559
- Staff costs +€1,967
no longer reported in 2025 (was -€1,967)
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 | €1,198,942 | €1,022,366 | -€176,576 | -14.7% |
| Fixed assets | 21/28 | €1,165,453 | €997,071 | -€168,382 | -14.4% |
| Tangible fixed assets | 22/27 | €1,165,453 | €997,071 | -€168,382 | -14.4% |
| Land and buildings | 22 | €1,158,239 | €991,851 | -€166,388 | -14.4% |
| Plant, machinery and equipment | 23 | €5,916 | €5,220 | -€696 | -11.8% |
| Furniture and vehicles | 24 | €1,298 | - | -€1,298 | |
| Current assets | 29/58 | €33,489 | €25,295 | -€8,194 | -24.5% |
| Amounts receivable within one year | 40/41 | €31,262 | €21,820 | -€9,442 | -30.2% |
| Trade receivables | 40 | €31,262 | €21,708 | -€9,554 | -30.6% |
| Other amounts receivable | 41 | - | €112 | +€112 | |
| Cash at bank and in hand | 54/58 | €2,227 | €3,475 | +€1,248 | +56.0% |
| Total equity and liabilities | 10/49 | €1,198,942 | €1,022,366 | -€176,576 | -14.7% |
| Equity | 10/15 | €548,578 | €438,891 | -€109,687 | -20.0% |
| Contributions | 10/11 | €875,575 | €875,575 | = | 0.0% |
| Reserves | 13 | €3,227 | €3,227 | = | 0.0% |
| Non-distributable reserves | 130/1 | €3,227 | €3,227 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,227 | €3,227 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€358,900 | -€459,028 | -€100,128 | -27.9% |
| Investment grants | 15 | €28,676 | €19,117 | -€9,559 | -33.3% |
| Amounts payable | 17/49 | €650,364 | €583,475 | -€66,889 | -10.3% |
| Amounts payable after more than one year | 17 | €470,239 | €317,863 | -€152,376 | -32.4% |
| Financial debts | 170/4 | €470,239 | €317,863 | -€152,376 | -32.4% |
| Amounts payable within one year | 42/48 | €180,125 | €265,612 | +€85,487 | +47.5% |
| Current portion of amounts payable after more than one year | 42 | €151,774 | €152,376 | +€602 | +0.4% |
| Trade debts | 44 | €10,081 | €6,432 | -€3,649 | -36.2% |
| Suppliers | 440/4 | €10,081 | €6,432 | -€3,649 | -36.2% |
| Taxes, remuneration and social security | 45 | €5,845 | €10,383 | +€4,538 | +77.6% |
| Taxes | 450/3 | €3,052 | €8,998 | +€5,946 | +195% |
| Remuneration and social security | 454/9 | €2,793 | €1,385 | -€1,408 | -50.4% |
| Other amounts payable | 47/48 | €12,425 | €96,421 | +€83,996 | +676% |
| Remuneration, social security and pensions | 62 | -€1,967 | - | +€1,967 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €166,787 | €168,382 | +€1,595 | +1.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €72,853 | +€72,853 | |
| Other operating charges | 640/8 | €10,898 | €12,160 | +€1,262 | +11.6% |
| Gross operating margin | 9900 | €138,998 | €160,099 | +€21,101 | +15.2% |
| Operating profit (loss) | 9901 | -€36,720 | -€93,296 | -€56,576 | -154% |
| Financial income | 75/76B | €12,283 | €9,559 | -€2,724 | -22.2% |
| Recurring financial income | 75 | €12,283 | €9,559 | -€2,724 | -22.2% |
| Financial charges | 65/66B | €21,032 | €16,391 | -€4,641 | -22.1% |
| Recurring financial charges | 65 | €21,032 | €16,391 | -€4,641 | -22.1% |
| Profit (loss) for the period before taxes | 9903 | -€45,469 | -€100,128 | -€54,659 | -120% |
| Income taxes | 67/77 | €352 | - | -€352 | |
| Profit (loss) for the period | 9904 | -€45,821 | -€100,128 | -€54,307 | -119% |
| Profit (loss) for the period to be appropriated | 9905 | -€45,821 | -€100,128 | -€54,307 | -119% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.