Alpha-West: 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-West
NACE 47.812, Retail trade
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€8,852
2024 · €7,439+€1,413
Equity
€584,275
2024 · €575,423+€8,852
Cash
€334,926
2024 · €334,307+€619
Balance sheet total
€1.6m
2024 · €1.4m+€150,129
Largest movements
Assets
- Stocks and contracts +€194,681
up €194,681 (+24.6%), from €791,419 to €986,100
- Receivables within one year -€85,036
down €85,036 (-95.3%), from €89,257 to €4,221
of which Trade receivables: -€89,257
- Deferred charges and accrued income +€30,457
up €30,457 (+301%), from €10,105 to €40,561
Equity and liabilities
- Trade debts +€514,422
up €514,422 (+362%), from €142,072 to €656,494
- Advances received -€241,466
no longer reported in 2025 (was €241,466)
- Short-term financial debts -€100,000
down €100,000 (-50.0%), from €200,000 to €100,000
Income statement
- Financial income +€11,392
up €11,392 (+44.3%), from €25,718 to €37,110
- Depreciation +€6,490
up €6,490 (+29.3%), from €22,133 to €28,623
- Staff costs +€4,554
up €4,554 (+4.7%), from €97,468 to €102,022
- Taxes -€3,915
down €3,915 (-39.1%), from €10,017 to €6,102
- Gross operating margin -€2,822
down €2,822 (-1.6%), from €182,024 to €179,202
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
€7,439
Gross operating margin
-€2,822
Staff costs
-€4,554
Depreciation
-€6,490
Other operating charges
-€1,000
Financial income
+€11,392
Financial charges
+€972
Taxes
+€3,915
Result 2025
€8,852
raises the resultlowers the result
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
+€143,038
Investment
-€38,031
Financing
-€104,388
Cash 2024
€334,307
From operations (derived)
+€143,038
Net result for the year
+€8,852
Depreciation
+€28,623
Stocks and contracts
-€194,681
Receivables within one year
+€85,036
Deferred charges and accrued income
-€30,457
Trade debts
+€514,422
Tax, wage and social debts
-€15,456
Advances received
-€241,466
Other debts
-€3,430
Accrued charges and deferred income
-€8,405
Investment (derived)
-€38,031
Investment in fixed assets (net)
-€38,031
Financing
-€104,388
Debts after one year
-€4,453
Current portion of long-term debt
+€65
Short-term financial debts
-€100,000
Cash 2025
€334,926
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,412,754 | €1,562,884 | +€150,129 | +10.6% |
| Fixed assets | 21/28 | €187,667 | €197,075 | +€9,408 | +5.0% |
| Tangible fixed assets | 22/27 | €100,667 | €110,075 | +€9,408 | +9.3% |
| Plant, machinery and equipment | 23 | €16,658 | €13,556 | -€3,102 | -18.6% |
| Furniture and vehicles | 24 | €12,607 | €34,964 | +€22,357 | +177% |
| Other tangible fixed assets | 26 | €71,401 | €61,554 | -€9,847 | -13.8% |
| Financial fixed assets | 28 | €87,000 | €87,000 | = | 0.0% |
| Current assets | 29/58 | €1,225,088 | €1,365,809 | +€140,721 | +11.5% |
| Stocks and contracts in progress | 3 | €791,419 | €986,100 | +€194,681 | +24.6% |
| Stocks | 30/36 | €791,419 | €986,100 | +€194,681 | +24.6% |
| Amounts receivable within one year | 40/41 | €89,257 | €4,221 | -€85,036 | -95.3% |
| Trade receivables | 40 | €89,257 | - | -€89,257 | |
| Other amounts receivable | 41 | - | €4,221 | +€4,221 | |
| Cash at bank and in hand | 54/58 | €334,307 | €334,926 | +€619 | +0.2% |
| Deferred charges and accrued income | 490/1 | €10,105 | €40,561 | +€30,457 | +301% |
| Total equity and liabilities | 10/49 | €1,412,754 | €1,562,884 | +€150,129 | +10.6% |
| Equity | 10/15 | €575,423 | €584,275 | +€8,852 | +1.5% |
| Contributions | 10/11 | €500,000 | €500,000 | = | 0.0% |
| Reserves | 13 | €63,415 | €63,415 | = | 0.0% |
| Non-distributable reserves | 130/1 | €3,100 | €3,100 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,100 | €3,100 | = | 0.0% |
| Distributable reserves | 133 | €60,315 | €60,315 | = | 0.0% |
| Profit (loss) carried forward | 14 | €12,008 | €20,860 | +€8,852 | +73.7% |
| Amounts payable | 17/49 | €837,331 | €978,609 | +€141,277 | +16.9% |
| Amounts payable after more than one year | 17 | €28,521 | €24,069 | -€4,453 | -15.6% |
| Financial debts | 170/4 | €28,521 | €24,069 | -€4,453 | -15.6% |
| Amounts payable within one year | 42/48 | €800,405 | €954,540 | +€154,135 | +19.3% |
| Current portion of amounts payable after more than one year | 42 | €4,388 | €4,453 | +€65 | +1.5% |
| Financial debts | 43 | €200,000 | €100,000 | -€100,000 | -50.0% |
| Credit institutions | 430/8 | €200,000 | €100,000 | -€100,000 | -50.0% |
| Trade debts | 44 | €142,072 | €656,494 | +€514,422 | +362% |
| Suppliers | 440/4 | €142,072 | €656,494 | +€514,422 | +362% |
| Advances received on contracts in progress | 46 | €241,466 | - | -€241,466 | |
| Taxes, remuneration and social security | 45 | €47,885 | €32,429 | -€15,456 | -32.3% |
| Taxes | 450/3 | €38,555 | €23,693 | -€14,862 | -38.5% |
| Remuneration and social security | 454/9 | €9,330 | €8,736 | -€594 | -6.4% |
| Other amounts payable | 47/48 | €164,595 | €161,165 | -€3,430 | -2.1% |
| Accrued charges and deferred income | 492/3 | €8,405 | - | -€8,405 | |
| Remuneration, social security and pensions | 62 | €97,468 | €102,022 | +€4,554 | +4.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,133 | €28,623 | +€6,490 | +29.3% |
| Other operating charges | 640/8 | €3,016 | €4,016 | +€1,000 | +33.2% |
| Gross operating margin | 9900 | €182,024 | €179,202 | -€2,822 | -1.6% |
| Operating profit (loss) | 9901 | €59,407 | €44,541 | -€14,866 | -25.0% |
| Financial income | 75/76B | €25,718 | €37,110 | +€11,392 | +44.3% |
| Recurring financial income | 75 | €25,718 | €37,110 | +€11,392 | +44.3% |
| Financial charges | 65/66B | €67,670 | €66,697 | -€972 | -1.4% |
| Recurring financial charges | 65 | €67,670 | €66,697 | -€972 | -1.4% |
| Profit (loss) for the period before taxes | 9903 | €17,455 | €14,954 | -€2,501 | -14.3% |
| Income taxes | 67/77 | €10,017 | €6,102 | -€3,915 | -39.1% |
| Profit (loss) for the period | 9904 | €7,439 | €8,852 | +€1,413 | +19.0% |
| Profit (loss) for the period to be appropriated | 9905 | €7,439 | €8,852 | +€1,413 | +19.0% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.