ALPHAFIN: 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.
ALPHAFIN
Largest movements
- Cash +€65,864
up €65,864 (+59.9%), from €109,922 to €175,785
mainly Other debts (+€119,930) and Net result for the year (+€81,269)
- Receivables within one year -€34,979
down €34,979 (-85.6%), from €40,871 to €5,892
of which Trade receivables: -€31,017
- Current investments +€33,388
up €33,388 (+3.7%), from €898,698 to €932,087
- Tangible fixed assets -€20,620
down €20,620 (-20.5%), from €100,792 to €80,172
- Profit (loss) carried forward -€149,731
down €149,731 (-37.8%), from €396,520 to €246,790
- Other debts +€119,930
up €119,930 (+14.9%), from €802,720 to €922,650
- Reserves +€81,000
up €81,000 (+15.7%), from €515,370 to €596,370
- Gross operating margin -€74,467
down €74,467 (-33.8%), from €220,326 to €145,859
- Financial income +€24,995
up €24,995 (+106.0%), from €23,585 to €48,580
- Depreciation +€18,310
up €18,310 (+792.7%), from €2,310 to €20,620
- Taxes -€14,935
down €14,935 (-31.2%), from €47,875 to €32,940
- Other operating charges -€11,644
down €11,644 (-79.1%), from €14,725 to €3,081
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 | €1,881,657 | €1,927,814 | +€46,158 | +2.5% |
| Fixed assets | 21/28 | €360,792 | €340,172 | -€20,620 | -5.7% |
| Tangible fixed assets | 22/27 | €100,792 | €80,172 | -€20,620 | -20.5% |
| Furniture and vehicles | 24 | €100,792 | €80,172 | -€20,620 | -20.5% |
| Financial fixed assets | 28 | €260,000 | €260,000 | = | 0.0% |
| Current assets | 29/58 | €1,520,864 | €1,587,642 | +€66,778 | +4.4% |
| Amounts receivable after more than one year | 29 | €463,707 | €468,765 | +€5,058 | +1.1% |
| Other amounts receivable | 291 | €463,707 | €468,765 | +€5,058 | +1.1% |
| Amounts receivable within one year | 40/41 | €40,871 | €5,892 | -€34,979 | -85.6% |
| Trade receivables | 40 | €31,017 | €0 | -€31,017 | -100.0% |
| Other amounts receivable | 41 | €9,854 | €5,892 | -€3,962 | -40.2% |
| Current investments | 50/53 | €898,698 | €932,087 | +€33,388 | +3.7% |
| Cash at bank and in hand | 54/58 | €109,922 | €175,785 | +€65,864 | +59.9% |
| Deferred charges and accrued income | 490/1 | €7,667 | €5,114 | -€2,553 | -33.3% |
| Total equity and liabilities | 10/49 | €1,881,657 | €1,927,814 | +€46,158 | +2.5% |
| Equity | 10/15 | €967,690 | €898,960 | -€68,731 | -7.1% |
| Contributions | 10/11 | €55,800 | €55,800 | = | 0.0% |
| Reserves | 13 | €515,370 | €596,370 | +€81,000 | +15.7% |
| Distributable reserves | 133 | €515,370 | €596,370 | +€81,000 | +15.7% |
| Profit (loss) carried forward | 14 | €396,520 | €246,790 | -€149,731 | -37.8% |
| Amounts payable | 17/49 | €913,966 | €1,028,855 | +€114,888 | +12.6% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €861,244 | €973,506 | +€112,262 | +13.0% |
| Current portion of amounts payable after more than one year | 42 | €18,545 | €0 | -€18,545 | -100.0% |
| Trade debts | 44 | €11,578 | €17,788 | +€6,210 | +53.6% |
| Suppliers | 440/4 | €11,578 | €17,788 | +€6,210 | +53.6% |
| Taxes, remuneration and social security | 45 | €28,400 | €33,068 | +€4,668 | +16.4% |
| Taxes | 450/3 | €28,400 | €33,068 | +€4,668 | +16.4% |
| Other amounts payable | 47/48 | €802,720 | €922,650 | +€119,930 | +14.9% |
| Accrued charges and deferred income | 492/3 | €52,723 | €55,349 | +€2,626 | +5.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,310 | €20,620 | +€18,310 | +792.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€10,000 | €0 | +€10,000 | |
| Other operating charges | 640/8 | €14,725 | €3,081 | -€11,644 | -79.1% |
| Non-recurring operating charges | 66A | €39,625 | €0 | -€39,625 | -100.0% |
| Gross operating margin | 9900 | €220,326 | €145,859 | -€74,467 | -33.8% |
| Operating profit (loss) | 9901 | €173,666 | €122,158 | -€51,509 | -29.7% |
| Financial income | 75/76B | €23,585 | €48,580 | +€24,995 | +106.0% |
| Recurring financial income | 75 | €23,585 | €48,580 | +€24,995 | +106.0% |
| Financial charges | 65/66B | €46,075 | €56,528 | +€10,453 | +22.7% |
| Recurring financial charges | 65 | €46,075 | €56,528 | +€10,453 | +22.7% |
| Profit (loss) for the period before taxes | 9903 | €151,176 | €114,209 | -€36,967 | -24.5% |
| Income taxes | 67/77 | €47,875 | €32,940 | -€14,935 | -31.2% |
| Profit (loss) for the period | 9904 | €103,301 | €81,269 | -€22,031 | -21.3% |
| Profit (loss) for the period to be appropriated | 9905 | €103,301 | €81,269 | -€22,031 | -21.3% |
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 5 October 2026 via checked.be.