ALPHA GROUP: 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 GROUP
Largest movements
- Receivables within one year +€45,149
up €45,149 (+51.2%), from €88,214 to €133,363
of which Trade receivables: +€42,377
- Cash -€4,018
down €4,018 (-73.4%), from €5,476 to €1,458
mainly Receivables within one year (-€45,149) and Investment in fixed assets (net) (-€2,351)
- Reserves +€22,900
up €22,900 (+34.3%), from €66,700 to €89,600
- Trade debts +€11,558
up €11,558, from €0 to €11,558
- Tax, wage and social debts +€6,596
up €6,596 (+37.2%), from €17,730 to €24,326
of which Taxes: +€6,596
- Gross operating margin +€3,005
up €3,005 (+9.4%), from €32,031 to €35,035
- Taxes -€1,361
down €1,361 (-29.1%), from €4,677 to €3,316
- Financial charges +€824
up €824 (+29.6%), from €2,782 to €3,605
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 | €109,665 | €149,418 | +€39,754 | +36.3% |
| Fixed assets | 21/28 | €12,475 | €11,097 | -€1,377 | -11.0% |
| Tangible fixed assets | 22/27 | €12,475 | €11,097 | -€1,377 | -11.0% |
| Plant, machinery and equipment | 23 | €6,419 | €6,099 | -€320 | -5.0% |
| Furniture and vehicles | 24 | €3,906 | €3,258 | -€648 | -16.6% |
| Other tangible fixed assets | 26 | €2,150 | €1,740 | -€410 | -19.1% |
| Current assets | 29/58 | €97,190 | €138,321 | +€41,131 | +42.3% |
| Amounts receivable within one year | 40/41 | €88,214 | €133,363 | +€45,149 | +51.2% |
| Trade receivables | 40 | €13,994 | €56,371 | +€42,377 | +302.8% |
| Other amounts receivable | 41 | €74,220 | €76,991 | +€2,772 | +3.7% |
| Current investments | 50/53 | €3,500 | €3,500 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €5,476 | €1,458 | -€4,018 | -73.4% |
| Total equity and liabilities | 10/49 | €109,665 | €149,418 | +€39,754 | +36.3% |
| Equity | 10/15 | €87,256 | €110,187 | +€22,931 | +26.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €66,700 | €89,600 | +€22,900 | +34.3% |
| Distributable reserves | 133 | €66,700 | €89,600 | +€22,900 | +34.3% |
| Profit (loss) carried forward | 14 | €1,956 | €1,987 | +€31 | +1.6% |
| Amounts payable | 17/49 | €22,408 | €39,231 | +€16,823 | +75.1% |
| Amounts payable within one year | 42/48 | €22,408 | €39,231 | +€16,823 | +75.1% |
| Current portion of amounts payable after more than one year | 42 | €4,678 | €3,347 | -€1,331 | -28.5% |
| Trade debts | 44 | €0 | €11,558 | +€11,558 | |
| Suppliers | 440/4 | €0 | €11,558 | +€11,558 | |
| Taxes, remuneration and social security | 45 | €17,730 | €24,326 | +€6,596 | +37.2% |
| Taxes | 450/3 | €17,730 | €24,326 | +€6,596 | +37.2% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,632 | €3,729 | +€97 | +2.7% |
| Other operating charges | 640/8 | €1,568 | €1,454 | -€114 | -7.3% |
| Gross operating margin | 9900 | €32,031 | €35,035 | +€3,005 | +9.4% |
| Operating profit (loss) | 9901 | €26,830 | €29,852 | +€3,022 | +11.3% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €2,782 | €3,605 | +€824 | +29.6% |
| Recurring financial charges | 65 | €2,782 | €3,605 | +€824 | +29.6% |
| Profit (loss) for the period before taxes | 9903 | €24,049 | €26,247 | +€2,198 | +9.1% |
| Income taxes | 67/77 | €4,677 | €3,316 | -€1,361 | -29.1% |
| Profit (loss) for the period | 9904 | €19,372 | €22,931 | +€3,559 | +18.4% |
| Profit (loss) for the period to be appropriated | 9905 | €19,372 | €22,931 | +€3,559 | +18.4% |
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 10 October 2026 via checked.be.