Alpha Way: 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 Way
Largest movements
- Cash -€25,715
down €25,715 (-10.8%), from €237,097 to €211,382
mainly Receivables within one year (-€14,087) and Tax, wage and social debts (-€11,577)
- Receivables within one year +€14,087
up €14,087 (+35.2%), from €40,062 to €54,149
of which Other amounts receivable: +€8,522
- Tangible fixed assets -€5,848
down €5,848 (-22.3%), from €26,187 to €20,339
of which Plant, machinery and equipment: -€3,987
- Tax, wage and social debts -€11,577
no longer reported in 2024 (was €11,577)
of which Taxes: -€10,376
- Trade debts -€10,367
down €10,367 (-78.6%), from €13,183 to €2,816
- Reserves +€6,723
up €6,723 (+2.1%), from €325,166 to €331,889
of which Distributable reserves: +€6,723
- Gross operating margin -€43,358
down €43,358 (-55.6%), from €78,043 to €34,685
- Financial income -€20,551
down €20,551 (-92.0%), from €22,343 to €1,792
- Taxes -€16,987
down €16,987 (-85.3%), from €19,926 to €2,939
- Staff costs +€880
up €880 (+9.1%), from €9,722 to €10,602
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €356,917 | €340,962 | -€15,955 | -4.5% |
| Fixed assets | 21/28 | €26,395 | €20,547 | -€5,848 | -22.2% |
| Tangible fixed assets | 22/27 | €26,187 | €20,339 | -€5,848 | -22.3% |
| Plant, machinery and equipment | 23 | €20,290 | €16,303 | -€3,987 | -19.6% |
| Furniture and vehicles | 24 | €5,897 | €4,036 | -€1,861 | -31.6% |
| Financial fixed assets | 28 | €207 | €207 | = | 0.0% |
| Current assets | 29/58 | €330,522 | €320,415 | -€10,107 | -3.1% |
| Amounts receivable after more than one year | 29 | €50,000 | €50,000 | = | 0.0% |
| Other amounts receivable | 291 | €50,000 | €50,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €2,260 | €2,829 | +€568 | +25.1% |
| Stocks | 30/36 | €2,260 | €2,829 | +€568 | +25.1% |
| Amounts receivable within one year | 40/41 | €40,062 | €54,149 | +€14,087 | +35.2% |
| Trade receivables | 40 | €30,557 | €36,122 | +€5,564 | +18.2% |
| Other amounts receivable | 41 | €9,505 | €18,027 | +€8,522 | +89.7% |
| Cash at bank and in hand | 54/58 | €237,097 | €211,382 | -€25,715 | -10.8% |
| Deferred charges and accrued income | 490/1 | €1,103 | €2,056 | +€953 | +86.4% |
| Total equity and liabilities | 10/49 | €356,917 | €340,962 | -€15,955 | -4.5% |
| Equity | 10/15 | €331,366 | €338,089 | +€6,723 | +2.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Outside capital | 11 | €6,200 | €6,200 | = | 0.0% |
| Other | 1109/19 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €325,166 | €331,889 | +€6,723 | +2.1% |
| Tax-exempt reserves | 132 | €35,700 | €35,700 | = | 0.0% |
| Distributable reserves | 133 | €289,466 | €296,189 | +€6,723 | +2.3% |
| Amounts payable | 17/49 | €25,551 | €2,873 | -€22,678 | -88.8% |
| Amounts payable within one year | 42/48 | €24,761 | €2,816 | -€21,944 | -88.6% |
| Trade debts | 44 | €13,183 | €2,816 | -€10,367 | -78.6% |
| Suppliers | 440/4 | €13,183 | €2,816 | -€10,367 | -78.6% |
| Taxes, remuneration and social security | 45 | €11,577 | - | -€11,577 | |
| Taxes | 450/3 | €10,376 | - | -€10,376 | |
| Remuneration and social security | 454/9 | €1,202 | - | -€1,202 | |
| Accrued charges and deferred income | 492/3 | €790 | €56 | -€734 | -92.9% |
| Remuneration, social security and pensions | 62 | €9,722 | €10,602 | +€880 | +9.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,397 | €15,815 | -€582 | -3.5% |
| Other operating charges | 640/8 | €195 | €261 | +€66 | +33.8% |
| Gross operating margin | 9900 | €78,043 | €34,685 | -€43,358 | -55.6% |
| Operating profit (loss) | 9901 | €51,729 | €8,007 | -€43,722 | -84.5% |
| Financial income | 75/76B | €22,343 | €1,792 | -€20,551 | -92.0% |
| Recurring financial income | 75 | €22,343 | €1,792 | -€20,551 | -92.0% |
| Financial charges | 65/66B | €210 | €137 | -€73 | -34.7% |
| Recurring financial charges | 65 | €210 | €137 | -€73 | -34.7% |
| Profit (loss) for the period before taxes | 9903 | €73,862 | €9,662 | -€64,200 | -86.9% |
| Income taxes | 67/77 | €19,926 | €2,939 | -€16,987 | -85.3% |
| Profit (loss) for the period | 9904 | €53,936 | €6,723 | -€47,213 | -87.5% |
| Profit (loss) for the period to be appropriated | 9905 | €53,936 | €6,723 | -€47,213 | -87.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 September 2026 via checked.be.