ALPHA LOGICA: 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 LOGICA
Largest movements
- Receivables within one year -€565,298
down €565,298 (-60.4%), from €935,932 to €370,634
of which Trade receivables: -€528,658
- Stocks and contracts -€137,521
down €137,521 (-54.7%), from €251,368 to €113,847
- Cash -€85,593
down €85,593 (-71.9%), from €118,963 to €33,370
mainly Net result for the year (-€794,114) and Trade debts (-€298,335)
- Deferred charges and accrued income -€27,460
down €27,460 (-76.6%), from €35,844 to €8,384
- Profit (loss) carried forward -€794,114
down €794,114 (-86356.2%), from -€920 to -€795,034
- Trade debts -€298,335
down €298,335 (-55.1%), from €541,170 to €242,835
- Short-term financial debts +€274,535
up €274,535 (+178.8%), from €153,525 to €428,060
- Gross operating margin -€741,178
down €741,178, from €85,442 to -€655,736
- Financial charges +€76,992
up €76,992 (+69.2%), from €111,224 to €188,216
- Financial income +€58,732
up €58,732 (+114.1%), from €51,459 to €110,192
- Staff costs -€19,922
down €19,922 (-25.4%), from €78,294 to €58,372
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 | €1,486,145 | €677,192 | -€808,953 | -54.4% |
| Fixed assets | 21/28 | €144,039 | €150,957 | +€6,918 | +4.8% |
| Tangible fixed assets | 22/27 | €104,244 | €106,671 | +€2,427 | +2.3% |
| Furniture and vehicles | 24 | €1,744 | €4,171 | +€2,427 | +139.2% |
| Other tangible fixed assets | 26 | €102,500 | €102,500 | = | 0.0% |
| Financial fixed assets | 28 | €39,795 | €44,286 | +€4,491 | +11.3% |
| Current assets | 29/58 | €1,342,107 | €526,235 | -€815,871 | -60.8% |
| Stocks and contracts in progress | 3 | €251,368 | €113,847 | -€137,521 | -54.7% |
| Stocks | 30/36 | €251,368 | €113,847 | -€137,521 | -54.7% |
| Amounts receivable within one year | 40/41 | €935,932 | €370,634 | -€565,298 | -60.4% |
| Trade receivables | 40 | €855,758 | €327,099 | -€528,658 | -61.8% |
| Other amounts receivable | 41 | €80,174 | €43,535 | -€36,640 | -45.7% |
| Cash at bank and in hand | 54/58 | €118,963 | €33,370 | -€85,593 | -71.9% |
| Deferred charges and accrued income | 490/1 | €35,844 | €8,384 | -€27,460 | -76.6% |
| Total equity and liabilities | 10/49 | €1,486,145 | €677,192 | -€808,953 | -54.4% |
| Equity | 10/15 | €780,861 | -€13,253 | -€794,114 | |
| Contributions | 10/11 | €710,710 | €710,710 | = | 0.0% |
| Capital | 10 | €710,710 | €710,710 | = | 0.0% |
| Issued capital | 100 | €710,710 | €710,710 | = | 0.0% |
| Reserves | 13 | €71,071 | €71,071 | = | 0.0% |
| Non-distributable reserves | 130/1 | €71,071 | €71,071 | = | 0.0% |
| Legal reserve | 130 | €71,071 | €71,071 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€920 | -€795,034 | -€794,114 | -86356.2% |
| Amounts payable | 17/49 | €705,284 | €690,446 | -€14,839 | -2.1% |
| Amounts payable within one year | 42/48 | €705,284 | €690,446 | -€14,839 | -2.1% |
| Financial debts | 43 | €153,525 | €428,060 | +€274,535 | +178.8% |
| Credit institutions | 430/8 | €153,525 | €428,060 | +€274,535 | +178.8% |
| Trade debts | 44 | €541,170 | €242,835 | -€298,335 | -55.1% |
| Suppliers | 440/4 | €541,170 | €242,835 | -€298,335 | -55.1% |
| Taxes, remuneration and social security | 45 | €9,296 | €18,773 | +€9,477 | +102.0% |
| Taxes | 450/3 | €556 | €392 | -€163 | -29.4% |
| Remuneration and social security | 454/9 | €8,740 | €18,381 | +€9,641 | +110.3% |
| Other amounts payable | 47/48 | €1,293 | €777 | -€516 | -39.9% |
| Non-recurring operating income | 76A | €397,726 | - | -€397,726 | |
| Remuneration, social security and pensions | 62 | €78,294 | €58,372 | -€19,922 | -25.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €813 | €1,278 | +€465 | +57.2% |
| Other operating charges | 640/8 | €1,044 | €703 | -€341 | -32.6% |
| Gross operating margin | 9900 | €85,442 | -€655,736 | -€741,178 | |
| Operating profit (loss) | 9901 | €5,292 | -€716,090 | -€721,381 | |
| Financial income | 75/76B | €51,459 | €110,192 | +€58,732 | +114.1% |
| Recurring financial income | 75 | €51,459 | €110,192 | +€58,732 | +114.1% |
| Financial charges | 65/66B | €111,224 | €188,216 | +€76,992 | +69.2% |
| Recurring financial charges | 65 | €111,224 | €188,216 | +€76,992 | +69.2% |
| Profit (loss) for the period before taxes | 9903 | -€54,473 | -€794,114 | -€739,641 | -1357.8% |
| Income taxes | 67/77 | €381 | - | -€381 | |
| Profit (loss) for the period | 9904 | -€54,853 | -€794,114 | -€739,261 | -1347.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€54,853 | -€794,114 | -€739,261 | -1347.7% |
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.