ALPHA CAPITAL: 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 CAPITAL
Largest movements
- Stocks and contracts -€732,934
down €732,934 (-100.0%), from €732,934 to €0
- Cash +€627,747
up €627,747 (+1856.8%), from €33,807 to €661,554
mainly Stocks and contracts (+€732,934) and Receivables after one year (+€50,514)
- Receivables after one year -€50,514
down €50,514 (-38.6%), from €130,925 to €80,411
- Other debts -€154,893
down €154,893 (-99.4%), from €155,809 to €916
- Trade debts -€13,807
down €13,807 (-94.2%), from €14,658 to €851
- Gross operating margin +€114,126
up €114,126, from -€110,970 to €3,156
- Financial income -€18,743
down €18,743 (-54.8%), from €34,222 to €15,479
- Other operating charges +€2,723
up €2,723 (+152.7%), from €1,782 to €4,505
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 | €915,533 | €751,440 | -€164,092 | -17.9% |
| Fixed assets | 21/28 | €7,287 | €6,765 | -€522 | -7.2% |
| Tangible fixed assets | 22/27 | €7,237 | €6,715 | -€522 | -7.2% |
| Plant, machinery and equipment | 23 | €2,803 | €1,532 | -€1,271 | -45.3% |
| Furniture and vehicles | 24 | €3,056 | €4,494 | +€1,437 | +47.0% |
| Other tangible fixed assets | 26 | €1,378 | €689 | -€689 | -50.0% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €908,246 | €744,676 | -€163,570 | -18.0% |
| Amounts receivable after more than one year | 29 | €130,925 | €80,411 | -€50,514 | -38.6% |
| Other amounts receivable | 291 | €130,925 | €80,411 | -€50,514 | -38.6% |
| Stocks and contracts in progress | 3 | €732,934 | €0 | -€732,934 | -100.0% |
| Stocks | 30/36 | €732,934 | €0 | -€732,934 | -100.0% |
| Amounts receivable within one year | 40/41 | €10,000 | €2,256 | -€7,744 | -77.4% |
| Other amounts receivable | 41 | €10,000 | €2,256 | -€7,744 | -77.4% |
| Cash at bank and in hand | 54/58 | €33,807 | €661,554 | +€627,747 | +1856.8% |
| Deferred charges and accrued income | 490/1 | €579 | €455 | -€124 | -21.5% |
| Total equity and liabilities | 10/49 | €915,533 | €751,440 | -€164,092 | -17.9% |
| Equity | 10/15 | €741,616 | €747,450 | +€5,834 | +0.8% |
| Contributions | 10/11 | €318,600 | €318,600 | = | 0.0% |
| Reserves | 13 | €431,010 | €431,010 | = | 0.0% |
| Non-distributable reserves | 130/1 | €21,543 | €21,543 | = | 0.0% |
| Reserves not available under the articles | 1311 | €21,543 | €21,543 | = | 0.0% |
| Distributable reserves | 133 | €409,467 | €409,467 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€7,994 | -€2,160 | +€5,834 | +73.0% |
| Amounts payable | 17/49 | €173,917 | €3,991 | -€169,926 | -97.7% |
| Amounts payable within one year | 42/48 | €173,917 | €3,991 | -€169,926 | -97.7% |
| Financial debts | 43 | €1,084 | €396 | -€687 | -63.4% |
| Credit institutions | 430/8 | €1,084 | €396 | -€687 | -63.4% |
| Trade debts | 44 | €14,658 | €851 | -€13,807 | -94.2% |
| Suppliers | 440/4 | €14,658 | €851 | -€13,807 | -94.2% |
| Taxes, remuneration and social security | 45 | €2,367 | €1,827 | -€540 | -22.8% |
| Taxes | 450/3 | €2,367 | €1,827 | -€540 | -22.8% |
| Other amounts payable | 47/48 | €155,809 | €916 | -€154,893 | -99.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,467 | €3,964 | +€497 | +14.3% |
| Other operating charges | 640/8 | €1,782 | €4,505 | +€2,723 | +152.7% |
| Gross operating margin | 9900 | -€110,970 | €3,156 | +€114,126 | |
| Operating profit (loss) | 9901 | -€116,219 | -€5,313 | +€110,906 | +95.4% |
| Financial income | 75/76B | €34,222 | €15,479 | -€18,743 | -54.8% |
| Recurring financial income | 75 | €34,222 | €15,479 | -€18,743 | -54.8% |
| Financial charges | 65/66B | €3,457 | €4,054 | +€597 | +17.3% |
| Recurring financial charges | 65 | €3,457 | €4,054 | +€597 | +17.3% |
| Profit (loss) for the period before taxes | 9903 | -€85,455 | €6,111 | +€91,567 | |
| Income taxes | 67/77 | - | €278 | +€278 | |
| Profit (loss) for the period | 9904 | -€85,455 | €5,834 | +€91,289 | |
| Profit (loss) for the period to be appropriated | 9905 | -€85,455 | €5,834 | +€91,289 |
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.