ALPHAR ETTERBEEK: 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 ETTERBEEK
Largest movements
- Tangible fixed assets -€30,574
down €30,574 (-7.5%), from €405,155 to €374,581
of which Land and buildings: -€30,057
- Reserves +€88,734
up €88,734 (+1,373%), from €6,465 to €95,199
of which Distributable reserves: +€79,899
- Profit (loss) carried forward -€55,410
down €55,410 (-100%), from €55,410 to €0
- Debts after one year -€50,535
down €50,535 (-7.7%), from €659,082 to €608,547
of which Financial debts: -€57,891
- Financial income +€19,992
new in 2025: €19,992
- Financial charges -€3,008
down €3,008 (-10.1%), from €29,832 to €26,824
- Gross operating margin +€1,849
up €1,849 (+2.5%), from €74,505 to €76,354
- Depreciation -€1,583
down €1,583 (-4.9%), from €32,157 to €30,574
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,277,938 | €1,246,737 | -€31,201 | -2.4% |
| Fixed assets | 21/28 | €1,270,206 | €1,239,631 | -€30,574 | -2.4% |
| Tangible fixed assets | 22/27 | €405,155 | €374,581 | -€30,574 | -7.5% |
| Land and buildings | 22 | €404,627 | €374,570 | -€30,057 | -7.4% |
| Furniture and vehicles | 24 | €528 | €10 | -€518 | -98.0% |
| Financial fixed assets | 28 | €865,051 | €865,051 | = | 0.0% |
| Current assets | 29/58 | €7,732 | €7,106 | -€627 | -8.1% |
| Amounts receivable within one year | 40/41 | €6,000 | €4,680 | -€1,320 | -22.0% |
| Trade receivables | 40 | €6,000 | €4,680 | -€1,320 | -22.0% |
| Other amounts receivable | 41 | €0 | - | = | |
| Deferred charges and accrued income | 490/1 | €1,732 | €2,426 | +€693 | +40.0% |
| Total equity and liabilities | 10/49 | €1,277,938 | €1,246,737 | -€31,201 | -2.4% |
| Equity | 10/15 | €214,875 | €248,199 | +€33,324 | +15.5% |
| Contributions | 10/11 | €153,000 | €153,000 | = | 0.0% |
| Capital | 10 | €153,000 | €153,000 | = | 0.0% |
| Issued capital | 100 | €153,000 | €153,000 | = | 0.0% |
| Reserves | 13 | €6,465 | €95,199 | +€88,734 | +1,373% |
| Non-distributable reserves | 130/1 | €6,465 | €15,300 | +€8,835 | +137% |
| Legal reserve | 130 | €6,465 | €15,300 | +€8,835 | +137% |
| Distributable reserves | 133 | - | €79,899 | +€79,899 | |
| Profit (loss) carried forward | 14 | €55,410 | €0 | -€55,410 | -100% |
| Amounts payable | 17/49 | €1,063,063 | €998,538 | -€64,525 | -6.1% |
| Amounts payable after more than one year | 17 | €659,082 | €608,547 | -€50,535 | -7.7% |
| Financial debts | 170/4 | €431,767 | €373,876 | -€57,891 | -13.4% |
| Other amounts payable | 178/9 | €227,314 | €234,670 | +€7,356 | +3.2% |
| Amounts payable within one year | 42/48 | €402,118 | €388,351 | -€13,767 | -3.4% |
| Current portion of amounts payable after more than one year | 42 | €59,968 | €62,604 | +€2,636 | +4.4% |
| Financial debts | 43 | €9,879 | €107 | -€9,771 | -98.9% |
| Credit institutions | 430/8 | €9,879 | €107 | -€9,771 | -98.9% |
| Trade debts | 44 | €9,089 | €8,689 | -€401 | -4.4% |
| Suppliers | 440/4 | €9,089 | €8,689 | -€401 | -4.4% |
| Taxes, remuneration and social security | 45 | €7,416 | €7,378 | -€38 | -0.5% |
| Taxes | 450/3 | €7,416 | €7,378 | -€38 | -0.5% |
| Other amounts payable | 47/48 | €315,766 | €309,573 | -€6,193 | -2.0% |
| Accrued charges and deferred income | 492/3 | €1,864 | €1,641 | -€223 | -11.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,157 | €30,574 | -€1,583 | -4.9% |
| Other operating charges | 640/8 | €5,178 | €5,468 | +€290 | +5.6% |
| Gross operating margin | 9900 | €74,505 | €76,354 | +€1,849 | +2.5% |
| Operating profit (loss) | 9901 | €37,170 | €40,311 | +€3,141 | +8.5% |
| Financial income | 75/76B | - | €19,992 | +€19,992 | |
| Recurring financial income | 75 | - | €19,992 | +€19,992 | |
| Financial charges | 65/66B | €29,832 | €26,824 | -€3,008 | -10.1% |
| Recurring financial charges | 65 | €29,832 | €26,824 | -€3,008 | -10.1% |
| Profit (loss) for the period before taxes | 9903 | €7,337 | €33,479 | +€26,141 | +356% |
| Income taxes | 67/77 | €172 | €155 | -€18 | -10.2% |
| Profit (loss) for the period | 9904 | €7,165 | €33,324 | +€26,159 | +365% |
| Profit (loss) for the period to be appropriated | 9905 | €7,165 | €33,324 | +€26,159 | +365% |
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 28 October 2026 via checked.be.