Alpha Lupus: 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 Lupus
Largest movements
- Receivables after one year +€30,071
up €30,071 (+79.1%), from €37,994 to €68,065
- Receivables within one year +€6,180
up €6,180 (+24.7%), from €24,990 to €31,170
of which Trade receivables: +€27,508
- Other debts +€37,434
up €37,434 (+92.6%), from €40,425 to €77,859
- Debts after one year -€10,856
down €10,856 (-4.6%), from €236,057 to €225,201
- Tax, wage and social debts +€6,570
up €6,570 (+137%), from €4,782 to €11,352
- Gross operating margin +€30,568
up €30,568 (+41.1%), from €74,451 to €105,019
- Financial income +€18,837
up €18,837 (+843%), from €2,234 to €21,072
- Taxes +€8,703
up €8,703 (+100%), from €8,671 to €17,374
- Depreciation +€8,221
up €8,221 (+32.1%), from €25,593 to €33,815
- Other operating charges -€1,565
down €1,565 (-68.3%), from €2,291 to €726
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 | €515,979 | €547,650 | +€31,671 | +6.1% |
| Fixed assets | 21/28 | €412,536 | €407,630 | -€4,907 | -1.2% |
| Tangible fixed assets | 22/27 | €338,626 | €333,719 | -€4,907 | -1.4% |
| Land and buildings | 22 | €331,820 | €321,376 | -€10,444 | -3.1% |
| Furniture and vehicles | 24 | €6,806 | €7,193 | +€387 | +5.7% |
| Other tangible fixed assets | 26 | - | €5,150 | +€5,150 | |
| Financial fixed assets | 28 | €73,911 | €73,911 | = | 0.0% |
| Current assets | 29/58 | €103,443 | €140,020 | +€36,578 | +35.4% |
| Amounts receivable after more than one year | 29 | €37,994 | €68,065 | +€30,071 | +79.1% |
| Other amounts receivable | 291 | €37,994 | €68,065 | +€30,071 | +79.1% |
| Amounts receivable within one year | 40/41 | €24,990 | €31,170 | +€6,180 | +24.7% |
| Trade receivables | 40 | €3,662 | €31,170 | +€27,508 | +751% |
| Other amounts receivable | 41 | €21,328 | €0 | -€21,328 | -100% |
| Cash at bank and in hand | 54/58 | €39,045 | €40,785 | +€1,740 | +4.5% |
| Deferred charges and accrued income | 490/1 | €1,414 | €0 | -€1,414 | -100% |
| Total equity and liabilities | 10/49 | €515,979 | €547,650 | +€31,671 | +6.1% |
| Equity | 10/15 | €214,844 | €215,182 | +€338 | +0.2% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €213,844 | €213,844 | = | 0.0% |
| Distributable reserves | 133 | €213,844 | €213,844 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €338 | +€338 | |
| Amounts payable | 17/49 | €301,135 | €332,468 | +€31,333 | +10.4% |
| Amounts payable after more than one year | 17 | €236,057 | €225,201 | -€10,856 | -4.6% |
| Financial debts | 170/4 | €236,057 | €225,201 | -€10,856 | -4.6% |
| Amounts payable within one year | 42/48 | €64,838 | €107,267 | +€42,428 | +65.4% |
| Current portion of amounts payable after more than one year | 42 | €10,665 | €10,856 | +€191 | +1.8% |
| Trade debts | 44 | €8,967 | €7,199 | -€1,768 | -19.7% |
| Suppliers | 440/4 | €8,967 | €7,199 | -€1,768 | -19.7% |
| Taxes, remuneration and social security | 45 | €4,782 | €11,352 | +€6,570 | +137% |
| Taxes | 450/3 | €4,782 | €11,352 | +€6,570 | +137% |
| Other amounts payable | 47/48 | €40,425 | €77,859 | +€37,434 | +92.6% |
| Accrued charges and deferred income | 492/3 | €240 | €0 | -€240 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,593 | €33,815 | +€8,221 | +32.1% |
| Other operating charges | 640/8 | €2,291 | €726 | -€1,565 | -68.3% |
| Gross operating margin | 9900 | €74,451 | €105,019 | +€30,568 | +41.1% |
| Operating profit (loss) | 9901 | €46,567 | €70,478 | +€23,912 | +51.3% |
| Financial income | 75/76B | €2,234 | €21,072 | +€18,837 | +843% |
| Recurring financial income | 75 | €2,234 | €21,072 | +€18,837 | +843% |
| Financial charges | 65/66B | €5,382 | €4,837 | -€545 | -10.1% |
| Recurring financial charges | 65 | €5,382 | €4,837 | -€545 | -10.1% |
| Profit (loss) for the period before taxes | 9903 | €43,419 | €86,713 | +€43,293 | +99.7% |
| Income taxes | 67/77 | €8,671 | €17,374 | +€8,703 | +100% |
| Profit (loss) for the period | 9904 | €34,748 | €69,338 | +€34,590 | +99.5% |
| Profit (loss) for the period to be appropriated | 9905 | €34,748 | €69,338 | +€34,590 | +99.5% |
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 13 October 2026 via checked.be.