ALPHA L: 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 L
Largest movements
- Receivables within one year +€83,048
up €83,048 (+54.7%), from €151,785 to €234,833
of which Trade receivables: +€63,670
- Cash -€4,625
no longer reported in 2025 (was €4,625)
mainly Receivables within one year (-€83,048) and Tax, wage and social debts (-€18,074)
- Tangible fixed assets -€4,167
down €4,167 (-100.0%), from €4,167 to €0
- Trade debts +€59,913
up €59,913 (+141.0%), from €42,479 to €102,391
- Profit (loss) carried forward +€19,166
up €19,166 (+26.8%), from €71,626 to €90,793
- Tax, wage and social debts -€18,074
down €18,074 (-46.9%), from €38,502 to €20,428
of which Remuneration and social security: -€10,391
- Current portion of long-term debt +€8,362
up €8,362, from €0 to €8,362
- Short-term financial debts +€4,950
new in 2025: €4,950
- Gross operating margin -€109,659
down €109,659 (-76.0%), from €144,374 to €34,715
- Staff costs -€42,051
down €42,051 (-94.0%), from €44,734 to €2,683
- Taxes -€11,881
down €11,881 (-61.8%), from €19,210 to €7,329
- Financial charges -€1,844
down €1,844 (-61.0%), from €3,023 to €1,179
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 | €160,577 | €234,894 | +€74,317 | +46.3% |
| Fixed assets | 21/28 | €4,167 | €0 | -€4,167 | -100.0% |
| Tangible fixed assets | 22/27 | €4,167 | €0 | -€4,167 | -100.0% |
| Furniture and vehicles | 24 | €4,167 | €0 | -€4,167 | -100.0% |
| Current assets | 29/58 | €156,411 | €234,894 | +€78,484 | +50.2% |
| Amounts receivable within one year | 40/41 | €151,785 | €234,833 | +€83,048 | +54.7% |
| Trade receivables | 40 | €99,181 | €162,851 | +€63,670 | +64.2% |
| Other amounts receivable | 41 | €52,604 | €71,982 | +€19,378 | +36.8% |
| Cash at bank and in hand | 54/58 | €4,625 | - | -€4,625 | |
| Deferred charges and accrued income | 490/1 | - | €61 | +€61 | |
| Total equity and liabilities | 10/49 | €160,577 | €234,894 | +€74,317 | +46.3% |
| Equity | 10/15 | €79,596 | €98,763 | +€19,166 | +24.1% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €5,970 | €5,970 | = | 0.0% |
| Distributable reserves | 133 | €5,970 | €5,970 | = | 0.0% |
| Profit (loss) carried forward | 14 | €71,626 | €90,793 | +€19,166 | +26.8% |
| Amounts payable | 17/49 | €80,981 | €136,131 | +€55,151 | +68.1% |
| Amounts payable within one year | 42/48 | €80,981 | €136,131 | +€55,151 | +68.1% |
| Current portion of amounts payable after more than one year | 42 | €0 | €8,362 | +€8,362 | |
| Financial debts | 43 | - | €4,950 | +€4,950 | |
| Credit institutions | 430/8 | - | €4,950 | +€4,950 | |
| Trade debts | 44 | €42,479 | €102,391 | +€59,913 | +141.0% |
| Suppliers | 440/4 | €42,479 | €102,391 | +€59,913 | +141.0% |
| Taxes, remuneration and social security | 45 | €38,502 | €20,428 | -€18,074 | -46.9% |
| Taxes | 450/3 | €28,111 | €20,428 | -€7,683 | -27.3% |
| Remuneration and social security | 454/9 | €10,391 | - | -€10,391 | |
| Other amounts payable | 47/48 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €44,734 | €2,683 | -€42,051 | -94.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,167 | €4,167 | +€0 | 0.0% |
| Other operating charges | 640/8 | €110 | €1,321 | +€1,211 | +1101.0% |
| Gross operating margin | 9900 | €144,374 | €34,715 | -€109,659 | -76.0% |
| Operating profit (loss) | 9901 | €95,363 | €26,544 | -€68,820 | -72.2% |
| Financial income | 75/76B | €0 | €1,131 | +€1,131 | +11309300.0% |
| Recurring financial income | 75 | €0 | €1,131 | +€1,131 | +11309300.0% |
| Financial charges | 65/66B | €3,023 | €1,179 | -€1,844 | -61.0% |
| Recurring financial charges | 65 | €3,023 | €1,179 | -€1,844 | -61.0% |
| Profit (loss) for the period before taxes | 9903 | €92,340 | €26,496 | -€65,845 | -71.3% |
| Income taxes | 67/77 | €19,210 | €7,329 | -€11,881 | -61.8% |
| Profit (loss) for the period | 9904 | €73,130 | €19,166 | -€53,964 | -73.8% |
| Profit (loss) for the period to be appropriated | 9905 | €73,130 | €19,166 | -€53,964 | -73.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.