ALPHA PRAGMA: 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 PRAGMA
Largest movements
- Receivables within one year -€7,824
down €7,824 (-9.5%), from €82,347 to €74,522
- Tangible fixed assets -€2,717
no longer reported in 2025 (was €2,717)
- Trade debts -€5,087
down €5,087 (-71.9%), from €7,074 to €1,987
- Profit (loss) carried forward -€4,620
down €4,620 (-11.5%), from €40,109 to €35,488
- Tax, wage and social debts -€956
down €956 (-51.9%), from €1,843 to €887
- Gross operating margin -€4,493
down €4,493 (-89.7%), from €5,006 to €514
- Depreciation -€3,028
down €3,028 (-97.8%), from €3,097 to €69
- Other operating charges +€1,026
up €1,026 (+74.5%), from €1,377 to €2,403
- Financial charges -€371
down €371 (-38.5%), from €964 to €593
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 | €89,754 | €79,333 | -€10,421 | -11.6% |
| Fixed assets | 21/28 | €2,717 | - | -€2,717 | |
| Tangible fixed assets | 22/27 | €2,717 | - | -€2,717 | |
| Furniture and vehicles | 24 | €2,717 | - | -€2,717 | |
| Current assets | 29/58 | €87,038 | €79,333 | -€7,705 | -8.9% |
| Amounts receivable within one year | 40/41 | €82,347 | €74,522 | -€7,824 | -9.5% |
| Other amounts receivable | 41 | €82,347 | €74,522 | -€7,824 | -9.5% |
| Cash at bank and in hand | 54/58 | €54 | - | -€54 | |
| Deferred charges and accrued income | 490/1 | €4,637 | €4,810 | +€174 | +3.7% |
| Total equity and liabilities | 10/49 | €89,754 | €79,333 | -€10,421 | -11.6% |
| Equity | 10/15 | €80,467 | €75,847 | -€4,620 | -5.7% |
| Contributions | 10/11 | €31,235 | €31,235 | = | 0.0% |
| Reserves | 13 | €9,123 | €9,123 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,000 | €6,000 | = | 0.0% |
| Other | 1319 | €6,000 | €6,000 | = | 0.0% |
| Distributable reserves | 133 | €3,123 | €3,123 | = | 0.0% |
| Profit (loss) carried forward | 14 | €40,109 | €35,488 | -€4,620 | -11.5% |
| Amounts payable | 17/49 | €9,287 | €3,486 | -€5,801 | -62.5% |
| Amounts payable within one year | 42/48 | €9,183 | €3,486 | -€5,697 | -62.0% |
| Financial debts | 43 | €265 | €612 | +€347 | +130.9% |
| Credit institutions | 430/8 | €265 | €612 | +€347 | +130.9% |
| Trade debts | 44 | €7,074 | €1,987 | -€5,087 | -71.9% |
| Suppliers | 440/4 | €7,074 | €1,987 | -€5,087 | -71.9% |
| Taxes, remuneration and social security | 45 | €1,843 | €887 | -€956 | -51.9% |
| Taxes | 450/3 | €1,843 | €887 | -€956 | -51.9% |
| Accrued charges and deferred income | 492/3 | €104 | - | -€104 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,097 | €69 | -€3,028 | -97.8% |
| Other operating charges | 640/8 | €1,377 | €2,403 | +€1,026 | +74.5% |
| Non-recurring operating charges | 66A | - | €2,069 | +€2,069 | |
| Gross operating margin | 9900 | €5,006 | €514 | -€4,493 | -89.7% |
| Operating profit (loss) | 9901 | €532 | -€4,027 | -€4,559 | |
| Financial charges | 65/66B | €964 | €593 | -€371 | -38.5% |
| Recurring financial charges | 65 | €964 | €593 | -€371 | -38.5% |
| Profit (loss) for the period before taxes | 9903 | -€432 | -€4,620 | -€4,189 | -970.6% |
| Profit (loss) for the period | 9904 | -€432 | -€4,620 | -€4,189 | -970.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€432 | -€4,620 | -€4,189 | -970.6% |
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 4 October 2026 via checked.be.