ALPHAR BOUSSU: 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.
ALPHAR BOUSSU
Largest movements
- Receivables within one year +€88,892
up €88,892 (+208%), from €42,839 to €131,731
of which Trade receivables: +€93,272
- Tangible fixed assets -€32,949
down €32,949 (-3.8%), from €868,387 to €835,438
of which Land and buildings: -€28,502
- Reserves +€91,640
up €91,640 (+35.6%), from €257,290 to €348,930
of which Non-distributable reserves: +€91,640
- Debts after one year -€62,244
down €62,244 (-7.6%), from €820,011 to €757,767
- Tax, wage and social debts +€45,009
up €45,009 (+206%), from €21,878 to €66,887
of which Taxes: +€37,456
- Trade debts -€29,507
down €29,507 (-49.4%), from €59,691 to €30,184
- Other debts +€26,430
up €26,430 (+34.4%), from €76,878 to €103,308
- Gross operating margin +€125,288
up €125,288 (+209%), from €59,972 to €185,260
- Taxes +€37,483
up €37,483 (+6,048%), from €620 to €38,102
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 | €1,488,828 | €1,549,549 | +€60,721 | +4.1% |
| Fixed assets | 21/28 | €1,436,724 | €1,403,774 | -€32,949 | -2.3% |
| Tangible fixed assets | 22/27 | €868,387 | €835,438 | -€32,949 | -3.8% |
| Land and buildings | 22 | €838,416 | €809,914 | -€28,502 | -3.4% |
| Furniture and vehicles | 24 | €12,593 | €10,377 | -€2,216 | -17.6% |
| Other tangible fixed assets | 26 | €17,378 | €15,147 | -€2,231 | -12.8% |
| Financial fixed assets | 28 | €568,336 | €568,336 | = | 0.0% |
| Current assets | 29/58 | €52,105 | €145,775 | +€93,670 | +180% |
| Amounts receivable within one year | 40/41 | €42,839 | €131,731 | +€88,892 | +208% |
| Trade receivables | 40 | €38,459 | €131,731 | +€93,272 | +243% |
| Other amounts receivable | 41 | €4,380 | - | -€4,380 | |
| Cash at bank and in hand | 54/58 | €7,556 | €13,024 | +€5,468 | +72.4% |
| Deferred charges and accrued income | 490/1 | €1,710 | €1,020 | -€690 | -40.4% |
| Total equity and liabilities | 10/49 | €1,488,828 | €1,549,549 | +€60,721 | +4.1% |
| Equity | 10/15 | €437,510 | €529,158 | +€91,648 | +20.9% |
| Contributions | 10/11 | €110,000 | €110,000 | = | 0.0% |
| Reserves | 13 | €257,290 | €348,930 | +€91,640 | +35.6% |
| Non-distributable reserves | 130/1 | €219,790 | €311,430 | +€91,640 | +41.7% |
| Other | 1319 | €219,790 | €311,430 | +€91,640 | +41.7% |
| Tax-exempt reserves | 132 | €37,500 | €37,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €70,220 | €70,228 | +€8 | 0.0% |
| Amounts payable | 17/49 | €1,051,318 | €1,020,391 | -€30,927 | -2.9% |
| Amounts payable after more than one year | 17 | €820,011 | €757,767 | -€62,244 | -7.6% |
| Financial debts | 170/4 | €820,011 | €757,767 | -€62,244 | -7.6% |
| Amounts payable within one year | 42/48 | €231,057 | €262,624 | +€31,567 | +13.7% |
| Current portion of amounts payable after more than one year | 42 | €72,609 | €62,244 | -€10,365 | -14.3% |
| Trade debts | 44 | €59,691 | €30,184 | -€29,507 | -49.4% |
| Suppliers | 440/4 | €59,691 | €30,184 | -€29,507 | -49.4% |
| Taxes, remuneration and social security | 45 | €21,878 | €66,887 | +€45,009 | +206% |
| Taxes | 450/3 | €647 | €38,102 | +€37,456 | +5,790% |
| Remuneration and social security | 454/9 | €21,232 | €28,785 | +€7,553 | +35.6% |
| Other amounts payable | 47/48 | €76,878 | €103,308 | +€26,430 | +34.4% |
| Accrued charges and deferred income | 492/3 | €250 | - | -€250 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,512 | €32,949 | +€437 | +1.3% |
| Other operating charges | 640/8 | €5,983 | €4,855 | -€1,128 | -18.9% |
| Gross operating margin | 9900 | €59,972 | €185,260 | +€125,288 | +209% |
| Operating profit (loss) | 9901 | €21,477 | €147,456 | +€125,979 | +587% |
| Financial income | 75/76B | €4 | €0 | -€4 | -99.8% |
| Recurring financial income | 75 | €4 | €0 | -€4 | -99.8% |
| Financial charges | 65/66B | €19,113 | €17,705 | -€1,408 | -7.4% |
| Recurring financial charges | 65 | €19,113 | €17,705 | -€1,408 | -7.4% |
| Profit (loss) for the period before taxes | 9903 | €2,367 | €129,751 | +€127,383 | +5,381% |
| Income taxes | 67/77 | €620 | €38,102 | +€37,483 | +6,048% |
| Profit (loss) for the period | 9904 | €1,748 | €91,648 | +€89,901 | +5,144% |
| Profit (loss) for the period to be appropriated | 9905 | €1,748 | €91,648 | +€89,901 | +5,144% |
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 21 October 2026 via checked.be.