ALPHA Expertise: what changed
Two fiscal 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 Expertise
Largest movements
- Tangible fixed assets -€39,801
down €39,801 (-17.2%), from €231,875 to €192,074
of which Land and buildings: -€23,226
- Receivables within one year +€27,331
up €27,331 (+95.5%), from €28,629 to €55,960
of which Trade receivables: +€23,951
- Cash +€16,667
up €16,667 (+50.7%), from €32,857 to €49,524
mainly Depreciation (+€40,484) and Current investments (+€13,202)
- Current investments -€13,202
down €13,202 (-4.8%), from €272,736 to €259,533
- Debts after one year -€18,343
down €18,343 (-22.6%), from €81,168 to €62,826
- Reserves +€10,449
up €10,449 (+3.1%), from €332,714 to €343,164
- Financial income -€74,789
down €74,789 (-88.5%), from €84,555 to €9,766
of which Non-recurring financial income: -€81,556
- Depreciation +€10,612
up €10,612 (+35.5%), from €29,872 to €40,484
- Taxes -€8,865
down €8,865 (-63.0%), from €14,074 to €5,209
- Financial charges +€1,396
up €1,396 (+94.3%), from €1,481 to €2,877
- Gross operating margin -€1,101
down €1,101 (-2.1%), from €51,483 to €50,382
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 | €593,683 | €584,304 | -€9,379 | -1.6% |
| Fixed assets | 21/28 | €231,875 | €192,074 | -€39,801 | -17.2% |
| Tangible fixed assets | 22/27 | €231,875 | €192,074 | -€39,801 | -17.2% |
| Land and buildings | 22 | €151,823 | €128,597 | -€23,226 | -15.3% |
| Plant, machinery and equipment | 23 | €4,110 | €3,714 | -€397 | -9.7% |
| Furniture and vehicles | 24 | €75,941 | €59,764 | -€16,178 | -21.3% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €361,808 | €392,230 | +€30,421 | +8.4% |
| Amounts receivable after more than one year | 29 | €25,000 | €25,000 | = | 0.0% |
| Other amounts receivable | 291 | €25,000 | €25,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €28,629 | €55,960 | +€27,331 | +95.5% |
| Trade receivables | 40 | €12,726 | €36,677 | +€23,951 | +188.2% |
| Other amounts receivable | 41 | €15,903 | €19,282 | +€3,379 | +21.2% |
| Current investments | 50/53 | €272,736 | €259,533 | -€13,202 | -4.8% |
| Cash at bank and in hand | 54/58 | €32,857 | €49,524 | +€16,667 | +50.7% |
| Deferred charges and accrued income | 490/1 | €2,587 | €2,212 | -€374 | -14.5% |
| Total equity and liabilities | 10/49 | €593,683 | €584,304 | -€9,379 | -1.6% |
| Equity | 10/15 | €486,942 | €497,392 | +€10,449 | +2.1% |
| Contributions | 10/11 | €64,986 | €64,986 | = | 0.0% |
| Reserves | 13 | €332,714 | €343,164 | +€10,449 | +3.1% |
| Distributable reserves | 133 | €332,714 | €343,164 | +€10,449 | +3.1% |
| Profit (loss) carried forward | 14 | €89,242 | €89,242 | = | 0.0% |
| Amounts payable | 17/49 | €106,741 | €86,912 | -€19,829 | -18.6% |
| Amounts payable after more than one year | 17 | €81,168 | €62,826 | -€18,343 | -22.6% |
| Financial debts | 170/4 | €81,168 | €62,826 | -€18,343 | -22.6% |
| Amounts payable within one year | 42/48 | €25,572 | €24,086 | -€1,486 | -5.8% |
| Current portion of amounts payable after more than one year | 42 | €17,782 | €18,343 | +€561 | +3.2% |
| Financial debts | 43 | - | €426 | +€426 | |
| Credit institutions | 430/8 | - | €426 | +€426 | |
| Trade debts | 44 | €2,072 | €2,597 | +€524 | +25.3% |
| Suppliers | 440/4 | €2,072 | €2,597 | +€524 | +25.3% |
| Taxes, remuneration and social security | 45 | €5,718 | €2,721 | -€2,997 | -52.4% |
| Taxes | 450/3 | €5,718 | €2,721 | -€2,997 | -52.4% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Non-recurring operating income | 76A | - | €3,000 | +€3,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,872 | €40,484 | +€10,612 | +35.5% |
| Other operating charges | 640/8 | €1,087 | €1,128 | +€41 | +3.8% |
| Gross operating margin | 9900 | €51,483 | €50,382 | -€1,101 | -2.1% |
| Operating profit (loss) | 9901 | €20,524 | €8,770 | -€11,754 | -57.3% |
| Financial income | 75/76B | €84,555 | €9,766 | -€74,789 | -88.5% |
| Recurring financial income | 75 | €2,999 | €9,766 | +€6,767 | +225.7% |
| Non-recurring financial income | 76B | €81,556 | €0 | -€81,556 | -100.0% |
| Financial charges | 65/66B | €1,481 | €2,877 | +€1,396 | +94.3% |
| Recurring financial charges | 65 | €1,481 | €2,877 | +€1,396 | +94.3% |
| Profit (loss) for the period before taxes | 9903 | €103,598 | €15,658 | -€87,940 | -84.9% |
| Income taxes | 67/77 | €14,074 | €5,209 | -€8,865 | -63.0% |
| Profit (loss) for the period | 9904 | €89,524 | €10,449 | -€79,075 | -88.3% |
| Profit (loss) for the period to be appropriated | 9905 | €89,524 | €10,449 | -€79,075 | -88.3% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.