ALPHASTYLE: 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.
ALPHASTYLE
Largest movements
- Tangible fixed assets -€61,685
down €61,685 (-13.2%), from €467,988 to €406,303
of which Furniture and vehicles: -€43,508
- Receivables within one year +€44,448
up €44,448 (+208.6%), from €21,309 to €65,757
of which Trade receivables: +€34,448
- Reserves +€30,118
up €30,118 (+10.6%), from €285,005 to €315,123
of which Distributable reserves: +€30,118
- Other debts -€23,359
down €23,359 (-39.3%), from €59,374 to €36,015
- Debts after one year -€21,837
down €21,837 (-29.2%), from €74,704 to €52,867
- Accrued charges and deferred income +€10,789
new in 2025: €10,789
- Trade debts -€9,959
down €9,959 (-92.2%), from €10,807 to €847
- Gross operating margin +€43,084
up €43,084 (+61.0%), from €70,652 to €113,736
- Taxes +€8,147
up €8,147 (+166.1%), from €4,906 to €13,053
- Depreciation +€7,534
up €7,534 (+13.5%), from €55,653 to €63,188
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 | €581,036 | €567,467 | -€13,569 | -2.3% |
| Fixed assets | 21/28 | €467,988 | €406,303 | -€61,685 | -13.2% |
| Tangible fixed assets | 22/27 | €467,988 | €406,303 | -€61,685 | -13.2% |
| Land and buildings | 22 | €274,823 | €265,678 | -€9,145 | -3.3% |
| Plant, machinery and equipment | 23 | €21,137 | €12,106 | -€9,032 | -42.7% |
| Furniture and vehicles | 24 | €172,027 | €128,519 | -€43,508 | -25.3% |
| Current assets | 29/58 | €113,048 | €161,165 | +€48,116 | +42.6% |
| Stocks and contracts in progress | 3 | €1,548 | €1,249 | -€299 | -19.3% |
| Stocks | 30/36 | €1,548 | €1,249 | -€299 | -19.3% |
| Amounts receivable within one year | 40/41 | €21,309 | €65,757 | +€44,448 | +208.6% |
| Trade receivables | 40 | €21,309 | €55,757 | +€34,448 | +161.7% |
| Other amounts receivable | 41 | - | €10,000 | +€10,000 | |
| Cash at bank and in hand | 54/58 | €86,996 | €91,380 | +€4,384 | +5.0% |
| Deferred charges and accrued income | 490/1 | €3,196 | €2,779 | -€417 | -13.0% |
| Total equity and liabilities | 10/49 | €581,036 | €567,467 | -€13,569 | -2.3% |
| Equity | 10/15 | €382,726 | €412,844 | +€30,118 | +7.9% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €285,005 | €315,123 | +€30,118 | +10.6% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €283,146 | €313,263 | +€30,118 | +10.6% |
| Profit (loss) carried forward | 14 | €79,129 | €79,129 | = | 0.0% |
| Amounts payable | 17/49 | €198,310 | €154,623 | -€43,687 | -22.0% |
| Amounts payable after more than one year | 17 | €74,704 | €52,867 | -€21,837 | -29.2% |
| Financial debts | 170/4 | €74,704 | €52,867 | -€21,837 | -29.2% |
| Amounts payable within one year | 42/48 | €123,606 | €90,967 | -€32,639 | -26.4% |
| Current portion of amounts payable after more than one year | 42 | €21,396 | €21,837 | +€441 | +2.1% |
| Trade debts | 44 | €10,807 | €847 | -€9,959 | -92.2% |
| Suppliers | 440/4 | €10,807 | €847 | -€9,959 | -92.2% |
| Taxes, remuneration and social security | 45 | €32,030 | €32,268 | +€239 | +0.7% |
| Taxes | 450/3 | €32,030 | €27,268 | -€4,761 | -14.9% |
| Remuneration and social security | 454/9 | - | €5,000 | +€5,000 | |
| Other amounts payable | 47/48 | €59,374 | €36,015 | -€23,359 | -39.3% |
| Accrued charges and deferred income | 492/3 | - | €10,789 | +€10,789 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €55,653 | €63,188 | +€7,534 | +13.5% |
| Other operating charges | 640/8 | €5,474 | €4,683 | -€792 | -14.5% |
| Gross operating margin | 9900 | €70,652 | €113,736 | +€43,084 | +61.0% |
| Operating profit (loss) | 9901 | €9,524 | €45,866 | +€36,342 | +381.6% |
| Financial income | 75/76B | €0 | €65 | +€65 | +54308.3% |
| Recurring financial income | 75 | €0 | €65 | +€65 | +54308.3% |
| Financial charges | 65/66B | €2,163 | €2,760 | +€597 | +27.6% |
| Recurring financial charges | 65 | €2,163 | €2,760 | +€597 | +27.6% |
| Profit (loss) for the period before taxes | 9903 | €7,361 | €43,171 | +€35,810 | +486.5% |
| Income taxes | 67/77 | €4,906 | €13,053 | +€8,147 | +166.1% |
| Profit (loss) for the period | 9904 | €2,456 | €30,118 | +€27,662 | +1126.5% |
| Profit (loss) for the period to be appropriated | 9905 | €2,456 | €30,118 | +€27,662 | +1126.5% |
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 6 October 2026 via checked.be.