ALPHA STEEL: 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 STEEL
Largest movements
- Stocks and contracts -€264,471
down €264,471 (-58.7%), from €450,770 to €186,299
- Cash +€238,328
up €238,328 (+35.3%), from €674,665 to €912,993
mainly Stocks and contracts (+€264,471) and Receivables within one year (+€173,639)
- Receivables within one year -€173,639
down €173,639 (-63.7%), from €272,521 to €98,883
of which Trade receivables: -€179,423
- Tangible fixed assets +€32,484
new in 2025: €32,484
- Trade debts -€256,570
down €256,570 (-67.6%), from €379,711 to €123,141
- Reserves +€150,814
up €150,814 (+30.6%), from €492,372 to €643,186
- Profit (loss) carried forward -€81,513
down €81,513 (-22.8%), from €357,998 to €276,485
- Gross operating margin +€84,641
up €84,641 (+115%), from €73,536 to €158,177
- Taxes +€21,146
up €21,146 (+217%), from €9,745 to €30,891
- Financial income -€8,226
down €8,226 (-43.6%), from €18,861 to €10,635
- Financial charges +€7,098
up €7,098 (+175%), from €4,046 to €11,144
- Depreciation -€5,225
down €5,225 (-97.0%), from €5,386 to €161
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 | €2,086,514 | €1,907,486 | -€179,028 | -8.6% |
| Fixed assets | 21/28 | €87 | €32,570 | +€32,484 | +37,441% |
| Tangible fixed assets | 22/27 | - | €32,484 | +€32,484 | |
| Furniture and vehicles | 24 | - | €32,484 | +€32,484 | |
| Financial fixed assets | 28 | €87 | €87 | = | 0.0% |
| Current assets | 29/58 | €2,086,428 | €1,874,916 | -€211,512 | -10.1% |
| Stocks and contracts in progress | 3 | €450,770 | €186,299 | -€264,471 | -58.7% |
| Stocks | 30/36 | €450,770 | €186,299 | -€264,471 | -58.7% |
| Amounts receivable within one year | 40/41 | €272,521 | €98,883 | -€173,639 | -63.7% |
| Trade receivables | 40 | €270,939 | €91,515 | -€179,423 | -66.2% |
| Other amounts receivable | 41 | €1,583 | €7,367 | +€5,785 | +365% |
| Current investments | 50/53 | €688,471 | €676,741 | -€11,730 | -1.7% |
| Cash at bank and in hand | 54/58 | €674,665 | €912,993 | +€238,328 | +35.3% |
| Total equity and liabilities | 10/49 | €2,086,514 | €1,907,486 | -€179,028 | -8.6% |
| Equity | 10/15 | €1,699,178 | €1,768,479 | +€69,301 | +4.1% |
| Contributions | 10/11 | €848,808 | €848,808 | = | 0.0% |
| Capital | 10 | €848,808 | €848,808 | = | 0.0% |
| Issued capital | 100 | €848,808 | €848,808 | = | 0.0% |
| Reserves | 13 | €492,372 | €643,186 | +€150,814 | +30.6% |
| Non-distributable reserves | 130/1 | €492,372 | €643,186 | +€150,814 | +30.6% |
| Legal reserve | 130 | €492,372 | €643,186 | +€150,814 | +30.6% |
| Profit (loss) carried forward | 14 | €357,998 | €276,485 | -€81,513 | -22.8% |
| Amounts payable | 17/49 | €387,336 | €139,007 | -€248,329 | -64.1% |
| Amounts payable within one year | 42/48 | €387,336 | €139,007 | -€248,329 | -64.1% |
| Trade debts | 44 | €379,711 | €123,141 | -€256,570 | -67.6% |
| Suppliers | 440/4 | €379,711 | €123,141 | -€256,570 | -67.6% |
| Taxes, remuneration and social security | 45 | €7,625 | €15,702 | +€8,077 | +106% |
| Taxes | 450/3 | €73 | €10,058 | +€9,985 | +13,750% |
| Remuneration and social security | 454/9 | €7,552 | €5,644 | -€1,908 | -25.3% |
| Other amounts payable | 47/48 | - | €164 | +€164 | |
| Remuneration, social security and pensions | 62 | €46,958 | €47,469 | +€511 | +1.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,386 | €161 | -€5,225 | -97.0% |
| Other operating charges | 640/8 | €2,012 | €1,718 | -€294 | -14.6% |
| Gross operating margin | 9900 | €73,536 | €158,177 | +€84,641 | +115% |
| Operating profit (loss) | 9901 | €19,180 | €108,829 | +€89,649 | +467% |
| Financial income | 75/76B | €18,861 | €10,635 | -€8,226 | -43.6% |
| Recurring financial income | 75 | €18,861 | €10,635 | -€8,226 | -43.6% |
| Financial charges | 65/66B | €4,046 | €11,144 | +€7,098 | +175% |
| Recurring financial charges | 65 | €4,046 | €11,144 | +€7,098 | +175% |
| Profit (loss) for the period before taxes | 9903 | €33,995 | €108,319 | +€74,324 | +219% |
| Income taxes | 67/77 | €9,745 | €30,891 | +€21,146 | +217% |
| Profit (loss) for the period | 9904 | €24,249 | €77,428 | +€53,179 | +219% |
| Profit (loss) for the period to be appropriated | 9905 | €24,249 | €77,428 | +€53,179 | +219% |
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 23 October 2026 via checked.be.