ALPHA TARGET: 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 TARGET
Largest movements
- Cash +€3,711
up €3,711 (+195%), from €1,900 to €5,610
mainly Net result for the year (+€18,121) and Tax, wage and social debts (+€6,338)
- Receivables within one year +€3,539
up €3,539 (+13.2%), from €26,886 to €30,425
of which Trade receivables: +€6,050
- Profit (loss) carried forward +€18,121
new in 2025: €18,121
- Other debts -€14,545
down €14,545 (-86.7%), from €16,770 to €2,225
- Tax, wage and social debts +€6,338
up €6,338 (+270%), from €2,349 to €8,687
- Trade debts -€2,814
down €2,814 (-58.0%), from €4,854 to €2,040
- Gross operating margin +€8,527
up €8,527 (+40.4%), from €21,085 to €29,612
- Taxes +€3,698
up €3,698 (+85.9%), from €4,306 to €8,003
- Other operating charges +€1,621
up €1,621 (+155%), from €1,043 to €2,664
- Financial income -€557
down €557 (-100.0%), from €557 to €0
- Depreciation -€476
no longer reported in 2025 (was €476)
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 | €28,974 | €36,074 | +€7,100 | +24.5% |
| Current assets | 29/58 | €28,974 | €36,074 | +€7,100 | +24.5% |
| Amounts receivable within one year | 40/41 | €26,886 | €30,425 | +€3,539 | +13.2% |
| Trade receivables | 40 | - | €6,050 | +€6,050 | |
| Other amounts receivable | 41 | €26,886 | €24,375 | -€2,511 | -9.3% |
| Cash at bank and in hand | 54/58 | €1,900 | €5,610 | +€3,711 | +195% |
| Deferred charges and accrued income | 490/1 | €188 | €38 | -€150 | -79.6% |
| Total equity and liabilities | 10/49 | €28,974 | €36,074 | +€7,100 | +24.5% |
| Equity | 10/15 | €5,000 | €23,121 | +€18,121 | +362% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €18,121 | +€18,121 | |
| Amounts payable | 17/49 | €23,974 | €12,953 | -€11,021 | -46.0% |
| Amounts payable within one year | 42/48 | €23,974 | €12,953 | -€11,021 | -46.0% |
| Trade debts | 44 | €4,854 | €2,040 | -€2,814 | -58.0% |
| Suppliers | 440/4 | €4,854 | €2,040 | -€2,814 | -58.0% |
| Taxes, remuneration and social security | 45 | €2,349 | €8,687 | +€6,338 | +270% |
| Taxes | 450/3 | €2,349 | €8,687 | +€6,338 | +270% |
| Other amounts payable | 47/48 | €16,770 | €2,225 | -€14,545 | -86.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €476 | - | -€476 | |
| Other operating charges | 640/8 | €1,043 | €2,664 | +€1,621 | +155% |
| Gross operating margin | 9900 | €21,085 | €29,612 | +€8,527 | +40.4% |
| Operating profit (loss) | 9901 | €19,566 | €26,948 | +€7,382 | +37.7% |
| Financial income | 75/76B | €557 | €0 | -€557 | -100.0% |
| Recurring financial income | 75 | €557 | €0 | -€557 | -100.0% |
| Financial charges | 65/66B | €933 | €823 | -€110 | -11.8% |
| Recurring financial charges | 65 | €933 | €823 | -€110 | -11.8% |
| Profit (loss) for the period before taxes | 9903 | €19,190 | €26,125 | +€6,935 | +36.1% |
| Income taxes | 67/77 | €4,306 | €8,003 | +€3,698 | +85.9% |
| Profit (loss) for the period | 9904 | €14,884 | €18,121 | +€3,237 | +21.7% |
| Profit (loss) for the period to be appropriated | 9905 | €14,884 | €18,121 | +€3,237 | +21.7% |
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 19 October 2026 via checked.be.