ALPHA - J: 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 - J
Largest movements
- Cash +€86,862
up €86,862 (+13.5%), from €644,520 to €731,382
mainly Net result for the year (+€79,852) and Depreciation (+€30,959)
- Receivables within one year +€28,049
up €28,049 (+62.0%), from €45,236 to €73,286
of which Other amounts receivable: +€26,852
- Tangible fixed assets -€13,105
down €13,105 (-13.2%), from €99,391 to €86,286
of which Plant, machinery and equipment: -€16,675
- Reserves +€80,000
up €80,000 (+12.0%), from €665,202 to €745,202
of which Distributable reserves: +€80,000
- Trade debts +€25,036
up €25,036 (+41.9%), from €59,729 to €84,765
- Gross operating margin -€87,328
down €87,328 (-12.0%), from €727,386 to €640,058
- Staff costs -€47,438
down €47,438 (-9.0%), from €529,451 to €482,013
- Taxes -€14,113
down €14,113 (-35.2%), from €40,056 to €25,943
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 | €1,049,422 | €1,154,192 | +€104,770 | +10.0% |
| Fixed assets | 21/28 | €99,391 | €86,286 | -€13,105 | -13.2% |
| Tangible fixed assets | 22/27 | €99,391 | €86,286 | -€13,105 | -13.2% |
| Land and buildings | 22 | €4,593 | €3,578 | -€1,015 | -22.1% |
| Plant, machinery and equipment | 23 | €65,615 | €48,940 | -€16,675 | -25.4% |
| Furniture and vehicles | 24 | €29,183 | €19,655 | -€9,528 | -32.6% |
| Leasing and similar rights | 25 | - | €14,113 | +€14,113 | |
| Current assets | 29/58 | €950,032 | €1,067,907 | +€117,875 | +12.4% |
| Amounts receivable after more than one year | 29 | €234,430 | €234,430 | = | 0.0% |
| Trade receivables | 290 | €234,430 | €234,430 | = | 0.0% |
| Stocks and contracts in progress | 3 | €15,927 | €14,612 | -€1,315 | -8.3% |
| Stocks | 30/36 | €15,927 | €14,612 | -€1,315 | -8.3% |
| Amounts receivable within one year | 40/41 | €45,236 | €73,286 | +€28,049 | +62.0% |
| Trade receivables | 40 | €6,645 | €7,842 | +€1,197 | +18.0% |
| Other amounts receivable | 41 | €38,591 | €65,444 | +€26,852 | +69.6% |
| Cash at bank and in hand | 54/58 | €644,520 | €731,382 | +€86,862 | +13.5% |
| Deferred charges and accrued income | 490/1 | €9,919 | €14,198 | +€4,279 | +43.1% |
| Total equity and liabilities | 10/49 | €1,049,422 | €1,154,192 | +€104,770 | +10.0% |
| Equity | 10/15 | €684,187 | €764,039 | +€79,852 | +11.7% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €665,202 | €745,202 | +€80,000 | +12.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Tax-exempt reserves | 132 | €26,342 | €26,342 | = | 0.0% |
| Distributable reserves | 133 | €637,000 | €717,000 | +€80,000 | +12.6% |
| Profit (loss) carried forward | 14 | €393 | €245 | -€148 | -37.6% |
| Amounts payable | 17/49 | €365,235 | €390,154 | +€24,918 | +6.8% |
| Amounts payable after more than one year | 17 | €0 | €8,697 | +€8,697 | |
| Financial debts | 170/4 | €0 | €8,697 | +€8,697 | |
| Amounts payable within one year | 42/48 | €355,596 | €381,457 | +€25,860 | +7.3% |
| Current portion of amounts payable after more than one year | 42 | €0 | €3,159 | +€3,159 | |
| Trade debts | 44 | €59,729 | €84,765 | +€25,036 | +41.9% |
| Suppliers | 440/4 | €59,729 | €84,765 | +€25,036 | +41.9% |
| Advances received on contracts in progress | 46 | €2,025 | €2,025 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €124,266 | €113,143 | -€11,123 | -9.0% |
| Taxes | 450/3 | €105,533 | €105,160 | -€373 | -0.4% |
| Remuneration and social security | 454/9 | €18,733 | €7,983 | -€10,750 | -57.4% |
| Other amounts payable | 47/48 | €169,576 | €178,364 | +€8,788 | +5.2% |
| Accrued charges and deferred income | 492/3 | €9,639 | €0 | -€9,639 | -100.0% |
| Remuneration, social security and pensions | 62 | €529,451 | €482,013 | -€47,438 | -9.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,112 | €30,959 | +€3,847 | +14.2% |
| Other operating charges | 640/8 | €5,619 | €11,187 | +€5,569 | +99.1% |
| Non-recurring operating charges | 66A | €342 | €0 | -€342 | -100.0% |
| Gross operating margin | 9900 | €727,386 | €640,058 | -€87,328 | -12.0% |
| Operating profit (loss) | 9901 | €164,863 | €115,899 | -€48,963 | -29.7% |
| Financial income | 75/76B | €74 | €4 | -€70 | -94.8% |
| Recurring financial income | 75 | €74 | €4 | -€70 | -94.8% |
| Financial charges | 65/66B | €7,015 | €10,109 | +€3,093 | +44.1% |
| Recurring financial charges | 65 | €7,015 | €10,109 | +€3,093 | +44.1% |
| Profit (loss) for the period before taxes | 9903 | €157,921 | €105,795 | -€52,127 | -33.0% |
| Income taxes | 67/77 | €40,056 | €25,943 | -€14,113 | -35.2% |
| Profit (loss) for the period | 9904 | €117,865 | €79,852 | -€38,013 | -32.3% |
| Profit (loss) for the period to be appropriated | 9905 | €117,865 | €79,852 | -€38,013 | -32.3% |
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 12 October 2026 via checked.be.