ALPHAR IMMO: 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.
ALPHAR IMMO
Largest movements
- Cash +€321,336
up €321,336 (+760.1%), from €42,277 to €363,613
mainly Tax, wage and social debts (+€111,808) and Net result for the year (+€111,633)
- Stocks and contracts +€143,624
up €143,624 (+21.1%), from €681,728 to €825,351
- Receivables within one year -€77,645
down €77,645 (-69.6%), from €111,560 to €33,915
of which Trade receivables: -€76,860
- Financial fixed assets -€44,669
down €44,669 (-4.3%), from €1.0m to €989,154
- Tax, wage and social debts +€111,808
up €111,808 (+172.1%), from €64,950 to €176,758
- Trade debts +€102,002
up €102,002 (+71.7%), from €142,290 to €244,292
- Other debts +€68,410
up €68,410 (+17.4%), from €393,409 to €461,819
- Reserves +€45,000
up €45,000 (+4.7%), from €966,474 to €1.0m
of which Distributable reserves: +€45,000
- Gross operating margin +€82,509
up €82,509 (+61.8%), from €133,542 to €216,051
- Taxes +€20,913
up €20,913 (+81.1%), from €25,779 to €46,691
- Financial charges +€20,473
up €20,473 (+84.7%), from €24,176 to €44,649
- Financial income +€3,692
up €3,692 (+6747.4%), from €55 to €3,746
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 | €1,900,366 | €2,226,714 | +€326,348 | +17.2% |
| Fixed assets | 21/28 | €1,056,233 | €996,305 | -€59,928 | -5.7% |
| Tangible fixed assets | 22/27 | €22,410 | €7,151 | -€15,259 | -68.1% |
| Furniture and vehicles | 24 | €22,410 | €7,151 | -€15,259 | -68.1% |
| Financial fixed assets | 28 | €1,033,823 | €989,154 | -€44,669 | -4.3% |
| Current assets | 29/58 | €844,133 | €1,230,409 | +€386,276 | +45.8% |
| Stocks and contracts in progress | 3 | €681,728 | €825,351 | +€143,624 | +21.1% |
| Stocks | 30/36 | €681,728 | €825,351 | +€143,624 | +21.1% |
| Amounts receivable within one year | 40/41 | €111,560 | €33,915 | -€77,645 | -69.6% |
| Trade receivables | 40 | €110,535 | €33,675 | -€76,860 | -69.5% |
| Other amounts receivable | 41 | €1,025 | €240 | -€785 | -76.6% |
| Cash at bank and in hand | 54/58 | €42,277 | €363,613 | +€321,336 | +760.1% |
| Deferred charges and accrued income | 490/1 | €8,567 | €7,529 | -€1,039 | -12.1% |
| Total equity and liabilities | 10/49 | €1,900,366 | €2,226,714 | +€326,348 | +17.2% |
| Equity | 10/15 | €1,252,836 | €1,298,635 | +€45,800 | +3.7% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €966,474 | €1,011,474 | +€45,000 | +4.7% |
| Non-distributable reserves | 130/1 | €12,500 | €12,500 | = | 0.0% |
| Legal reserve | 130 | €12,500 | €12,500 | = | 0.0% |
| Tax-exempt reserves | 132 | €123,774 | €123,774 | = | 0.0% |
| Distributable reserves | 133 | €830,200 | €875,200 | +€45,000 | +5.4% |
| Profit (loss) carried forward | 14 | €224,862 | €225,661 | +€800 | +0.4% |
| Amounts payable | 17/49 | €647,530 | €928,079 | +€280,548 | +43.3% |
| Amounts payable after more than one year | 17 | €6,739 | - | -€6,739 | |
| Financial debts | 170/4 | €6,739 | - | -€6,739 | |
| Amounts payable within one year | 42/48 | €617,278 | €896,391 | +€279,113 | +45.2% |
| Current portion of amounts payable after more than one year | 42 | €16,630 | €6,739 | -€9,891 | -59.5% |
| Financial debts | 43 | - | €6,784 | +€6,784 | |
| Other loans | 439 | - | €6,784 | +€6,784 | |
| Trade debts | 44 | €142,290 | €244,292 | +€102,002 | +71.7% |
| Suppliers | 440/4 | €142,290 | €244,292 | +€102,002 | +71.7% |
| Taxes, remuneration and social security | 45 | €64,950 | €176,758 | +€111,808 | +172.1% |
| Taxes | 450/3 | €64,950 | €176,758 | +€111,808 | +172.1% |
| Other amounts payable | 47/48 | €393,409 | €461,819 | +€68,410 | +17.4% |
| Accrued charges and deferred income | 492/3 | €23,514 | €31,688 | +€8,174 | +34.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,444 | €15,259 | -€185 | -1.2% |
| Other operating charges | 640/8 | €995 | €999 | +€4 | +0.4% |
| Non-recurring operating charges | 66A | €126 | €567 | +€441 | +349.2% |
| Gross operating margin | 9900 | €133,542 | €216,051 | +€82,509 | +61.8% |
| Operating profit (loss) | 9901 | €116,977 | €199,226 | +€82,250 | +70.3% |
| Financial income | 75/76B | €55 | €3,746 | +€3,692 | +6747.4% |
| Recurring financial income | 75 | €55 | €3,746 | +€3,692 | +6747.4% |
| Financial charges | 65/66B | €24,176 | €44,649 | +€20,473 | +84.7% |
| Recurring financial charges | 65 | €24,176 | €44,649 | +€20,473 | +84.7% |
| Profit (loss) for the period before taxes | 9903 | €92,856 | €158,324 | +€65,468 | +70.5% |
| Income taxes | 67/77 | €25,779 | €46,691 | +€20,913 | +81.1% |
| Profit (loss) for the period | 9904 | €67,077 | €111,633 | +€44,555 | +66.4% |
| Profit (loss) for the period to be appropriated | 9905 | €67,077 | €111,633 | +€44,555 | +66.4% |
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 29 September 2026 via checked.be.