Alpha Charlie: 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.
What changed
Alpha Charlie
NACE 82.990, Other business support services
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€10.4m
2024 · €2.8m+€7.6m
Equity
€35.7m
2024 · €25.3m+€10.4m
Cash
€3.3m
2024 · €85,309+€3.2m
Balance sheet total
€115.2m
2024 · €100.7m+€14.4m
Largest movements
Assets
- Current investments +€11.3m
up €11.3m (+23,053%), from €49,212 to €11.4m
- Cash +€3.2m
up €3.2m (+3,802%), from €85,309 to €3.3m
mainly Net result for the year (+€10.4m) and Other debts (+€3.9m)
Equity and liabilities
- Reserves +€10.4m
up €10.4m (+89.9%), from €11.6m to €22.0m
of which Distributable reserves: +€10.4m
- Other debts +€3.9m
up €3.9m (+689%), from €563,539 to €4.4m
Income statement
- Financial income +€9.9m
up €9.9m (+270%), from €3.6m to €13.5m
of which Non-recurring financial income: +€13.0m
- Financial charges +€1.5m
up €1.5m (+526%), from €277,478 to €1.7m
of which Non-recurring financial charges: +€1.6m
- Services and other goods +€828,610
up €828,610 (+152%), from €544,658 to €1.4m
- Other operating income +€1,057
up €1,057 (+36.6%), from €2,890 to €3,947
- Turnover -€700
down €700 (-10.2%), from €6,860 to €6,160
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.
Result 2024
€2.8m
Turnover
-€700
Other operating income
+€1,057
Services and other goods
-€828,610
Other operating charges
-€34
Financial income
+€9.9m
Financial charges
-€1.5m
Taxes
+€7
Result 2025
€10.4m
raises the resultlowers the result
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.
From operations
+€14.6m
Investment
-€11.3m
Financing
-€3,473
Cash 2024
€85,309
From operations (derived)
+€14.6m
Net result for the year
+€10.4m
Receivables after one year
-€62,107
Receivables within one year
+€176,020
Smaller working-capital items
-€16,406
Trade debts
+€130,524
Tax, wage and social debts
+€44,920
Other debts
+€3.9m
Investment (derived)
-€11.3m
Investment in fixed assets (net)
+€35,717
Current investments
-€11.3m
Financing
-€3,473
Debts after one year
-€3,474
Short-term financial debts
+€1
Cash 2025
€3.3m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €100,746,247 | €115,191,653 | +€14.4m | +14.3% |
| Fixed assets | 21/28 | €86,461,324 | €86,425,607 | -€35,717 | 0.0% |
| Financial fixed assets | 28 | €86,461,324 | €86,425,607 | -€35,717 | 0.0% |
| Affiliated companies | 280/1 | €56,809,933 | €56,307,395 | -€502,538 | -0.9% |
| Participating interests | 280 | €56,047,993 | €55,545,455 | -€502,538 | -0.9% |
| Amounts receivable | 281 | €761,940 | €761,940 | = | 0.0% |
| Companies linked by participating interests | 282/3 | €29,651,391 | €30,118,212 | +€466,821 | +1.6% |
| Participating interests | 282 | €29,651,391 | €30,118,212 | +€466,821 | +1.6% |
| Current assets | 29/58 | €14,284,922 | €28,766,046 | +€14.5m | +101% |
| Amounts receivable after more than one year | 29 | €13,093,944 | €13,156,052 | +€62,107 | +0.5% |
| Other amounts receivable | 291 | €13,093,944 | €13,156,052 | +€62,107 | +0.5% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €896,233 | €720,214 | -€176,020 | -19.6% |
| Trade receivables | 40 | €0 | €10 | +€10 | |
| Other amounts receivable | 41 | €896,233 | €720,204 | -€176,030 | -19.6% |
| Current investments | 50/53 | €49,212 | €11,394,212 | +€11.3m | +23,053% |
| Other investments | 51/53 | €49,212 | €11,394,212 | +€11.3m | +23,053% |
| Cash at bank and in hand | 54/58 | €85,309 | €3,328,460 | +€3.2m | +3,802% |
| Deferred charges and accrued income | 490/1 | €160,224 | €167,108 | +€6,884 | +4.3% |
| Total equity and liabilities | 10/49 | €100,746,247 | €115,191,653 | +€14.4m | +14.3% |
| Equity | 10/15 | €25,259,361 | €35,659,022 | +€10.4m | +41.2% |
| Contributions | 10/11 | €13,686,051 | €13,686,051 | = | 0.0% |
| Reserves | 13 | €11,573,310 | €21,972,971 | +€10.4m | +89.9% |
| Tax-exempt reserves | 132 | €2,645 | €2,645 | = | 0.0% |
| Distributable reserves | 133 | €11,570,665 | €21,970,326 | +€10.4m | +89.9% |
| Amounts payable | 17/49 | €75,486,886 | €79,532,631 | +€4.0m | +5.4% |
| Amounts payable after more than one year | 17 | €74,715,742 | €74,712,269 | -€3,474 | 0.0% |
| Other amounts payable | 178/9 | €74,715,742 | €74,712,269 | -€3,474 | 0.0% |
| Amounts payable within one year | 42/48 | €761,622 | €4,820,362 | +€4.1m | +533% |
| Financial debts | 43 | - | €1 | +€1 | |
| Credit institutions | 430/8 | - | €1 | +€1 | |
| Trade debts | 44 | €193,858 | €324,382 | +€130,524 | +67.3% |
| Suppliers | 440/4 | €193,858 | €324,382 | +€130,524 | +67.3% |
| Taxes, remuneration and social security | 45 | €4,225 | €49,145 | +€44,920 | +1,063% |
| Taxes | 450/3 | €4,225 | €49,145 | +€44,920 | +1,063% |
| Other amounts payable | 47/48 | €563,539 | €4,446,835 | +€3.9m | +689% |
| Accrued charges and deferred income | 492/3 | €9,522 | €0 | -€9,522 | -100% |
| Operating income | 70/76A | €9,750 | €10,107 | +€357 | +3.7% |
| Turnover | 70 | €6,860 | €6,160 | -€700 | -10.2% |
| Other operating income | 74 | €2,890 | €3,947 | +€1,057 | +36.6% |
| Operating charges | 60/66A | €545,725 | €1,374,369 | +€828,644 | +152% |
| Services and other goods | 61 | €544,658 | €1,373,269 | +€828,610 | +152% |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €0 | - | = | |
| Other operating charges | 640/8 | €1,066 | €1,100 | +€34 | +3.2% |
| Operating profit (loss) | 9901 | -€535,975 | -€1,364,262 | -€828,287 | -155% |
| Financial income | 75/76B | €3,644,011 | €13,499,800 | +€9.9m | +270% |
| Recurring financial income | 75 | €3,644,011 | €525,487 | -€3.1m | -85.6% |
| Income from financial fixed assets | 750 | €3,129,922 | €0 | -€3.1m | -100% |
| Income from current assets | 751 | €512,324 | €509,954 | -€2,370 | -0.5% |
| Other financial income | 752/9 | €1,765 | €15,533 | +€13,768 | +780% |
| Non-recurring financial income | 76B | €0 | €12,974,313 | +€13.0m | |
| Financial charges | 65/66B | €277,478 | €1,735,807 | +€1.5m | +526% |
| Recurring financial charges | 65 | €131,993 | €26,076 | -€105,916 | -80.2% |
| Debt charges | 650 | €131,814 | €3,902 | -€127,912 | -97.0% |
| Other financial charges | 652/9 | €178 | €22,174 | +€21,996 | +12,335% |
| Non-recurring financial charges | 66B | €145,485 | €1,709,731 | +€1.6m | +1,075% |
| Profit (loss) for the period before taxes | 9903 | €2,830,559 | €10,399,731 | +€7.6m | +267% |
| Income taxes | 67/77 | €78 | €70 | -€7 | -9.6% |
| Taxes | 670/3 | €78 | €70 | -€7 | -9.6% |
| Profit (loss) for the period | 9904 | €2,830,481 | €10,399,661 | +€7.6m | +267% |
| Profit (loss) for the period to be appropriated | 9905 | €2,830,481 | €10,399,661 | +€7.6m | +267% |
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 31 October 2026 via checked.be.