ALPHA PHOTO & ELECTRONICS: 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.
What changed
ALPHA PHOTO & ELECTRONICS
NACE 47.400, Retail sale of information and communication equipment
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€40,260
2024 · €45,345-€5,085
Equity
€703,741
2024 · €663,480+€40,260
Cash
€88,820
2024 · €84,989+€3,831
Balance sheet total
€1.6m
2024 · €1.6m-€34,932
Largest movements
Assets
- Stocks and contracts -€37,892
down €37,892 (-2.5%), from €1.5m to €1.4m
Equity and liabilities
- Trade debts -€52,217
down €52,217 (-23.7%), from €219,919 to €167,702
- Reserves +€40,260
up €40,260 (+11.0%), from €366,008 to €406,269
Income statement
- Gross operating margin -€17,290
down €17,290 (-10.4%), from €167,047 to €149,757
- Financial charges -€12,321
down €12,321 (-48.7%), from €25,295 to €12,974
- Staff costs +€3,537
up €3,537 (+5.0%), from €70,398 to €73,935
- Financial income -€3,010
down €3,010 (-99.2%), from €3,035 to €25
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.
Result 2024
€45,345
Gross operating margin
-€17,290
Staff costs
-€3,537
Depreciation
+€1,409
Other operating charges
+€30
Other operating items
+€3,554
Financial income
-€3,010
Financial charges
+€12,321
Taxes
+€1,438
Result 2025
€40,260
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€3,834
Investment
€0
Financing
-€3
Cash 2024
€84,989
From operations (derived)
+€3,834
Net result for the year
+€40,260
Depreciation
+€3,734
Stocks and contracts
+€37,892
Receivables within one year
-€930
Deferred charges and accrued income
-€1,932
Trade debts
-€52,217
Tax, wage and social debts
-€10,471
Other debts
-€12,500
Financing
-€3
Current portion of long-term debt
-€3
Cash 2025
€88,820
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,614,388 | €1,579,457 | -€34,932 | -2.2% |
| Fixed assets | 21/28 | €9,156 | €5,422 | -€3,734 | -40.8% |
| Tangible fixed assets | 22/27 | €6,804 | €3,070 | -€3,734 | -54.9% |
| Plant, machinery and equipment | 23 | €250 | - | -€250 | |
| Furniture and vehicles | 24 | €6,554 | €3,070 | -€3,484 | -53.2% |
| Financial fixed assets | 28 | €2,352 | €2,352 | = | 0.0% |
| Current assets | 29/58 | €1,605,232 | €1,574,034 | -€31,198 | -1.9% |
| Stocks and contracts in progress | 3 | €1,487,889 | €1,449,998 | -€37,892 | -2.5% |
| Stocks | 30/36 | €1,487,889 | €1,449,998 | -€37,892 | -2.5% |
| Amounts receivable within one year | 40/41 | €23,389 | €24,319 | +€930 | +4.0% |
| Trade receivables | 40 | €21,363 | €22,293 | +€930 | +4.4% |
| Other amounts receivable | 41 | €2,026 | €2,026 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €84,989 | €88,820 | +€3,831 | +4.5% |
| Deferred charges and accrued income | 490/1 | €8,965 | €10,898 | +€1,932 | +21.6% |
| Total equity and liabilities | 10/49 | €1,614,388 | €1,579,457 | -€34,932 | -2.2% |
| Equity | 10/15 | €663,480 | €703,741 | +€40,260 | +6.1% |
| Contributions | 10/11 | €297,472 | €297,472 | = | 0.0% |
| Reserves | 13 | €366,008 | €406,269 | +€40,260 | +11.0% |
| Distributable reserves | 133 | €366,008 | €406,269 | +€40,260 | +11.0% |
| Amounts payable | 17/49 | €950,908 | €875,716 | -€75,192 | -7.9% |
| Amounts payable within one year | 42/48 | €950,908 | €875,716 | -€75,192 | -7.9% |
| Current portion of amounts payable after more than one year | 42 | €100,854 | €100,851 | -€3 | 0.0% |
| Trade debts | 44 | €219,919 | €167,702 | -€52,217 | -23.7% |
| Suppliers | 440/4 | €219,919 | €167,702 | -€52,217 | -23.7% |
| Taxes, remuneration and social security | 45 | €68,895 | €58,424 | -€10,471 | -15.2% |
| Taxes | 450/3 | €60,230 | €50,051 | -€10,179 | -16.9% |
| Remuneration and social security | 454/9 | €8,666 | €8,373 | -€292 | -3.4% |
| Other amounts payable | 47/48 | €561,239 | €548,739 | -€12,500 | -2.2% |
| Remuneration, social security and pensions | 62 | €70,398 | €73,935 | +€3,537 | +5.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,142 | €3,734 | -€1,409 | -27.4% |
| Other operating charges | 640/8 | €714 | €684 | -€30 | -4.1% |
| Non-recurring operating charges | 66A | €3,554 | - | -€3,554 | |
| Gross operating margin | 9900 | €167,047 | €149,757 | -€17,290 | -10.4% |
| Operating profit (loss) | 9901 | €87,238 | €71,404 | -€15,835 | -18.2% |
| Financial income | 75/76B | €3,035 | €25 | -€3,010 | -99.2% |
| Recurring financial income | 75 | €3,035 | €25 | -€3,010 | -99.2% |
| Financial charges | 65/66B | €25,295 | €12,974 | -€12,321 | -48.7% |
| Recurring financial charges | 65 | €25,295 | €12,974 | -€12,321 | -48.7% |
| Profit (loss) for the period before taxes | 9903 | €64,979 | €58,455 | -€6,523 | -10.0% |
| Income taxes | 67/77 | €19,633 | €18,195 | -€1,438 | -7.3% |
| Profit (loss) for the period | 9904 | €45,345 | €40,260 | -€5,085 | -11.2% |
| Profit (loss) for the period to be appropriated | 9905 | €45,345 | €40,260 | -€5,085 | -11.2% |
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 21 October 2026 via checked.be.