ALPHA FINANCE: 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 FINANCE
Largest movements
- Tangible fixed assets +€44,076
up €44,076 (+4.3%), from €1.0m to €1.1m
of which Assets under construction and advance payments: +€47,446
- Other debts +€129,349
up €129,349 (+40.8%), from €316,874 to €446,223
- Debts after one year -€62,206
down €62,206 (-8.0%), from €779,831 to €717,624
of which Financial debts: -€62,206
- Trade debts -€56,939
down €56,939 (-47.5%), from €119,851 to €62,912
- Current portion of long-term debt +€39,008
new in 2025: €39,008
- Profit (loss) carried forward -€26,872
down €26,872 (-34.7%), from -€77,492 to -€104,365
- Financial charges +€44,041
up €44,041 (+1,672%), from €2,633 to €46,674
- Gross operating margin +€21,840
up €21,840 (+50.1%), from €43,625 to €65,465
- Depreciation +€2,809
up €2,809 (+501%), from €561 to €3,370
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 | €1,208,841 | €1,249,388 | +€40,547 | +3.4% |
| Fixed assets | 21/28 | €1,020,854 | €1,064,930 | +€44,076 | +4.3% |
| Tangible fixed assets | 22/27 | €1,020,854 | €1,064,930 | +€44,076 | +4.3% |
| Land and buildings | 22 | €48,208 | €48,208 | = | 0.0% |
| Plant, machinery and equipment | 23 | €24,715 | €22,214 | -€2,501 | -10.1% |
| Furniture and vehicles | 24 | €4,078 | €3,208 | -€870 | -21.3% |
| Assets under construction and advance payments | 27 | €943,854 | €991,300 | +€47,446 | +5.0% |
| Current assets | 29/58 | €187,987 | €184,458 | -€3,530 | -1.9% |
| Amounts receivable within one year | 40/41 | €182,000 | €181,557 | -€443 | -0.2% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €182,000 | €181,557 | -€443 | -0.2% |
| Cash at bank and in hand | 54/58 | €5,881 | €779 | -€5,102 | -86.8% |
| Deferred charges and accrued income | 490/1 | €107 | €2,122 | +€2,015 | +1,889% |
| Total equity and liabilities | 10/49 | €1,208,841 | €1,249,388 | +€40,547 | +3.4% |
| Equity | 10/15 | -€8,236 | -€35,108 | -€26,872 | -326% |
| Contributions | 10/11 | €62,960 | €62,960 | = | 0.0% |
| Capital | 10 | €62,960 | €62,960 | = | 0.0% |
| Issued capital | 100 | €62,960 | €62,960 | = | 0.0% |
| Reserves | 13 | €6,296 | €6,296 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,296 | €6,296 | = | 0.0% |
| Legal reserve | 130 | €6,296 | €6,296 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€77,492 | -€104,365 | -€26,872 | -34.7% |
| Amounts payable | 17/49 | €1,217,077 | €1,284,496 | +€67,419 | +5.5% |
| Amounts payable after more than one year | 17 | €779,831 | €717,624 | -€62,206 | -8.0% |
| Financial debts | 170/4 | €700,000 | €637,794 | -€62,206 | -8.9% |
| Other amounts payable | 178/9 | €79,831 | €79,831 | = | 0.0% |
| Amounts payable within one year | 42/48 | €437,246 | €566,377 | +€129,130 | +29.5% |
| Current portion of amounts payable after more than one year | 42 | - | €39,008 | +€39,008 | |
| Financial debts | 43 | €0 | €12,599 | +€12,599 | |
| Credit institutions | 430/8 | €0 | €12,599 | +€12,599 | |
| Trade debts | 44 | €119,851 | €62,912 | -€56,939 | -47.5% |
| Suppliers | 440/4 | €119,851 | €62,912 | -€56,939 | -47.5% |
| Taxes, remuneration and social security | 45 | €521 | €5,635 | +€5,114 | +981% |
| Taxes | 450/3 | €521 | €5,635 | +€5,114 | +981% |
| Other amounts payable | 47/48 | €316,874 | €446,223 | +€129,349 | +40.8% |
| Accrued charges and deferred income | 492/3 | - | €495 | +€495 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €561 | €3,370 | +€2,809 | +501% |
| Other operating charges | 640/8 | €42,049 | €42,293 | +€245 | +0.6% |
| Gross operating margin | 9900 | €43,625 | €65,465 | +€21,840 | +50.1% |
| Operating profit (loss) | 9901 | €1,016 | €19,801 | +€18,786 | +1,850% |
| Financial charges | 65/66B | €2,633 | €46,674 | +€44,041 | +1,672% |
| Recurring financial charges | 65 | €2,633 | €46,674 | +€44,041 | +1,672% |
| Profit (loss) for the period before taxes | 9903 | -€1,618 | -€26,872 | -€25,255 | -1,561% |
| Profit (loss) for the period | 9904 | -€1,618 | -€26,872 | -€25,255 | -1,561% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,618 | -€26,872 | -€25,255 | -1,561% |
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 24 October 2026 via checked.be.