ALPHA MODE: 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 MODE
Largest movements
- Receivables within one year +€11,934
up €11,934 (+9.5%), from €126,097 to €138,031
of which Trade receivables: +€16,407
- Reserves +€48,733
up €48,733 (+119.5%), from €40,770 to €89,503
of which Distributable reserves: +€48,733
- Tax, wage and social debts -€16,333
down €16,333 (-37.9%), from €43,048 to €26,715
- Other debts -€15,000
down €15,000 (-100.0%), from €15,000 to €0
- Short-term financial debts -€4,220
down €4,220 (-23.2%), from €18,202 to €13,981
- Profit (loss) carried forward -€2,595
down €2,595 (-100.0%), from €2,595 to €0
- Gross operating margin +€37,868
up €37,868 (+247.5%), from €15,302 to €53,170
- Taxes -€4,000
down €4,000 (-100.0%), from €4,000 to €0
- Financial charges -€2,775
down €2,775 (-63.2%), from €4,394 to €1,618
- Other operating charges +€1,593
up €1,593 (+66.3%), from €2,404 to €3,997
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €200,760 | €211,277 | +€10,518 | +5.2% |
| Fixed assets | 21/28 | €4,663 | €3,246 | -€1,416 | -30.4% |
| Intangible fixed assets | 21 | €2,343 | €1,677 | -€667 | -28.5% |
| Tangible fixed assets | 22/27 | €2,319 | €1,570 | -€750 | -32.3% |
| Plant, machinery and equipment | 23 | €407 | €0 | -€407 | -100.0% |
| Furniture and vehicles | 24 | €1,913 | €1,570 | -€343 | -17.9% |
| Current assets | 29/58 | €196,097 | €208,031 | +€11,934 | +6.1% |
| Amounts receivable after more than one year | 29 | €70,000 | €70,000 | = | 0.0% |
| Other amounts receivable | 291 | €70,000 | €70,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €126,097 | €138,031 | +€11,934 | +9.5% |
| Trade receivables | 40 | €167 | €16,574 | +€16,407 | +9830.1% |
| Other amounts receivable | 41 | €125,930 | €121,457 | -€4,473 | -3.6% |
| Total equity and liabilities | 10/49 | €200,760 | €211,277 | +€10,518 | +5.2% |
| Equity | 10/15 | €117,733 | €163,871 | +€46,138 | +39.2% |
| Contributions | 10/11 | €74,368 | €74,368 | = | 0.0% |
| Reserves | 13 | €40,770 | €89,503 | +€48,733 | +119.5% |
| Non-distributable reserves | 130/1 | €7,437 | €7,437 | = | 0.0% |
| Reserves not available under the articles | 1311 | €7,437 | €7,437 | = | 0.0% |
| Distributable reserves | 133 | €33,333 | €82,066 | +€48,733 | +146.2% |
| Profit (loss) carried forward | 14 | €2,595 | €0 | -€2,595 | -100.0% |
| Amounts payable | 17/49 | €83,027 | €47,406 | -€35,620 | -42.9% |
| Amounts payable within one year | 42/48 | €83,027 | €47,406 | -€35,620 | -42.9% |
| Current portion of amounts payable after more than one year | 42 | €1,513 | €0 | -€1,513 | -100.0% |
| Financial debts | 43 | €18,202 | €13,981 | -€4,220 | -23.2% |
| Credit institutions | 430/8 | €18,202 | €13,981 | -€4,220 | -23.2% |
| Trade debts | 44 | €5,265 | €6,710 | +€1,445 | +27.5% |
| Suppliers | 440/4 | €5,265 | €6,710 | +€1,445 | +27.5% |
| Taxes, remuneration and social security | 45 | €43,048 | €26,715 | -€16,333 | -37.9% |
| Taxes | 450/3 | €43,048 | €26,715 | -€16,333 | -37.9% |
| Other amounts payable | 47/48 | €15,000 | €0 | -€15,000 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,909 | €1,416 | -€492 | -25.8% |
| Other operating charges | 640/8 | €2,404 | €3,997 | +€1,593 | +66.3% |
| Gross operating margin | 9900 | €15,302 | €53,170 | +€37,868 | +247.5% |
| Operating profit (loss) | 9901 | €10,989 | €47,756 | +€36,767 | +334.6% |
| Financial charges | 65/66B | €4,394 | €1,618 | -€2,775 | -63.2% |
| Recurring financial charges | 65 | €4,394 | €1,618 | -€2,775 | -63.2% |
| Profit (loss) for the period before taxes | 9903 | €6,595 | €46,138 | +€39,543 | +599.6% |
| Income taxes | 67/77 | €4,000 | €0 | -€4,000 | -100.0% |
| Profit (loss) for the period | 9904 | €2,595 | €46,138 | +€43,543 | +1677.9% |
| Profit (loss) for the period to be appropriated | 9905 | €2,595 | €46,138 | +€43,543 | +1677.9% |
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 5 October 2026 via checked.be.