ALPHASTUDENT: 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.
ALPHASTUDENT
Largest movements
- Tangible fixed assets -€27,205
down €27,205 (-2.6%), from €1.0m to €1.0m
- Debts after one year -€40,562
down €40,562 (-7.3%), from €553,349 to €512,787
- Reserves +€18,245
new in 2025: €18,245
- Taxes +€3,364
up €3,364 (+631.9%), from €532 to €3,896
- Financial charges -€1,793
down €1,793 (-6.5%), from €27,574 to €25,780
- Gross operating margin -€1,378
down €1,378 (-1.8%), from €75,787 to €74,409
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 | €1,078,624 | €1,046,507 | -€32,116 | -3.0% |
| Fixed assets | 21/28 | €1,049,544 | €1,022,338 | -€27,205 | -2.6% |
| Tangible fixed assets | 22/27 | €1,049,544 | €1,022,338 | -€27,205 | -2.6% |
| Land and buildings | 22 | €1,049,544 | €1,022,338 | -€27,205 | -2.6% |
| Current assets | 29/58 | €29,080 | €24,169 | -€4,911 | -16.9% |
| Amounts receivable within one year | 40/41 | €5,616 | €572 | -€5,044 | -89.8% |
| Trade receivables | 40 | €1,148 | €0 | -€1,148 | -100.0% |
| Other amounts receivable | 41 | €4,468 | €572 | -€3,896 | -87.2% |
| Cash at bank and in hand | 54/58 | €21,407 | €19,837 | -€1,570 | -7.3% |
| Deferred charges and accrued income | 490/1 | €2,057 | €3,761 | +€1,704 | +82.8% |
| Total equity and liabilities | 10/49 | €1,078,624 | €1,046,507 | -€32,116 | -3.0% |
| Equity | 10/15 | €431,539 | €443,245 | +€11,706 | +2.7% |
| Contributions | 10/11 | €425,000 | €425,000 | = | 0.0% |
| Reserves | 13 | - | €18,245 | +€18,245 | |
| Distributable reserves | 133 | - | €18,245 | +€18,245 | |
| Profit (loss) carried forward | 14 | €6,539 | €0 | -€6,539 | -100.0% |
| Amounts payable | 17/49 | €647,085 | €603,262 | -€43,823 | -6.8% |
| Amounts payable after more than one year | 17 | €553,349 | €512,787 | -€40,562 | -7.3% |
| Financial debts | 170/4 | €553,349 | €512,787 | -€40,562 | -7.3% |
| Amounts payable within one year | 42/48 | €68,610 | €66,629 | -€1,981 | -2.9% |
| Current portion of amounts payable after more than one year | 42 | €45,786 | €43,174 | -€2,612 | -5.7% |
| Trade debts | 44 | €4,824 | €3,755 | -€1,070 | -22.2% |
| Suppliers | 440/4 | €4,824 | €3,755 | -€1,070 | -22.2% |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Other amounts payable | 47/48 | €18,000 | €19,700 | +€1,700 | +9.4% |
| Accrued charges and deferred income | 492/3 | €25,125 | €23,846 | -€1,279 | -5.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,205 | €27,205 | +€0 | 0.0% |
| Other operating charges | 640/8 | €5,705 | €5,821 | +€116 | +2.0% |
| Gross operating margin | 9900 | €75,787 | €74,409 | -€1,378 | -1.8% |
| Operating profit (loss) | 9901 | €42,876 | €41,382 | -€1,494 | -3.5% |
| Financial charges | 65/66B | €27,574 | €25,780 | -€1,793 | -6.5% |
| Recurring financial charges | 65 | €27,574 | €25,780 | -€1,793 | -6.5% |
| Profit (loss) for the period before taxes | 9903 | €15,303 | €15,602 | +€300 | +2.0% |
| Income taxes | 67/77 | €532 | €3,896 | +€3,364 | +631.9% |
| Profit (loss) for the period | 9904 | €14,770 | €11,706 | -€3,064 | -20.7% |
| Profit (loss) for the period to be appropriated | 9905 | €14,770 | €11,706 | -€3,064 | -20.7% |
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 1 October 2026 via checked.be.