ALPHATEAM: 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.
ALPHATEAM
Largest movements
- Stocks and contracts +€60,402
up €60,402 (+21.5%), from €281,348 to €341,750
- Cash +€43,583
up €43,583 (+37.4%), from €116,451 to €160,034
mainly Depreciation (+€44,574) and Receivables within one year (+€39,711)
- Receivables within one year -€39,711
down €39,711 (-11.0%), from €361,269 to €321,558
of which Trade receivables: -€29,624
- Tangible fixed assets -€35,734
down €35,734 (-3.6%), from €985,051 to €949,317
of which Land and buildings: -€37,364
- Tax, wage and social debts +€22,777
up €22,777 (+37.2%), from €61,195 to €83,972
of which Taxes: +€12,335
- Debts after one year +€21,476
up €21,476 (+2.4%), from €907,019 to €928,494
- Other debts -€20,200
down €20,200 (-38.5%), from €52,525 to €32,326
- Trade debts -€20,019
down €20,019 (-3.9%), from €512,909 to €492,891
- Gross operating margin +€70,072
up €70,072 (+20.6%), from €339,770 to €409,842
- Staff costs +€43,309
up €43,309 (+20.7%), from €208,901 to €252,210
- Financial charges +€13,462
up €13,462 (+26.2%), from €51,430 to €64,891
- Taxes +€11,155
up €11,155 (+112.2%), from €9,938 to €21,093
- Other operating charges -€7,163
down €7,163 (-37.1%), from €19,326 to €12,163
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 | €1,753,046 | €1,777,825 | +€24,779 | +1.4% |
| Fixed assets | 21/28 | €987,878 | €950,517 | -€37,361 | -3.8% |
| Intangible fixed assets | 21 | €2,827 | €0 | -€2,827 | -100.0% |
| Tangible fixed assets | 22/27 | €985,051 | €949,317 | -€35,734 | -3.6% |
| Land and buildings | 22 | €966,674 | €929,310 | -€37,364 | -3.9% |
| Plant, machinery and equipment | 23 | €3,518 | €5,688 | +€2,170 | +61.7% |
| Furniture and vehicles | 24 | €504 | €2,019 | +€1,515 | +300.4% |
| Leasing and similar rights | 25 | €14,355 | €12,301 | -€2,055 | -14.3% |
| Financial fixed assets | 28 | €0 | €1,200 | +€1,200 | |
| Current assets | 29/58 | €765,168 | €827,308 | +€62,140 | +8.1% |
| Stocks and contracts in progress | 3 | €281,348 | €341,750 | +€60,402 | +21.5% |
| Stocks | 30/36 | €281,348 | €341,750 | +€60,402 | +21.5% |
| Amounts receivable within one year | 40/41 | €361,269 | €321,558 | -€39,711 | -11.0% |
| Trade receivables | 40 | €348,079 | €318,455 | -€29,624 | -8.5% |
| Other amounts receivable | 41 | €13,191 | €3,104 | -€10,087 | -76.5% |
| Cash at bank and in hand | 54/58 | €116,451 | €160,034 | +€43,583 | +37.4% |
| Deferred charges and accrued income | 490/1 | €6,100 | €3,966 | -€2,134 | -35.0% |
| Total equity and liabilities | 10/49 | €1,753,046 | €1,777,825 | +€24,779 | +1.4% |
| Equity | 10/15 | €173,641 | €188,585 | +€14,943 | +8.6% |
| Contributions | 10/11 | €16,423 | €16,423 | = | 0.0% |
| Reserves | 13 | €77,325 | €92,268 | +€14,943 | +19.3% |
| Distributable reserves | 133 | €77,325 | €92,268 | +€14,943 | +19.3% |
| Profit (loss) carried forward | 14 | €79,894 | €79,894 | = | 0.0% |
| Amounts payable | 17/49 | €1,579,405 | €1,589,240 | +€9,835 | +0.6% |
| Amounts payable after more than one year | 17 | €907,019 | €928,494 | +€21,476 | +2.4% |
| Financial debts | 170/4 | €907,019 | €928,494 | +€21,476 | +2.4% |
| Amounts payable within one year | 42/48 | €669,129 | €657,713 | -€11,416 | -1.7% |
| Current portion of amounts payable after more than one year | 42 | €42,499 | €48,524 | +€6,026 | +14.2% |
| Trade debts | 44 | €512,909 | €492,891 | -€20,019 | -3.9% |
| Suppliers | 440/4 | €512,909 | €492,891 | -€20,019 | -3.9% |
| Taxes, remuneration and social security | 45 | €61,195 | €83,972 | +€22,777 | +37.2% |
| Taxes | 450/3 | €31,582 | €43,917 | +€12,335 | +39.1% |
| Remuneration and social security | 454/9 | €29,613 | €40,055 | +€10,442 | +35.3% |
| Other amounts payable | 47/48 | €52,525 | €32,326 | -€20,200 | -38.5% |
| Accrued charges and deferred income | 492/3 | €3,257 | €3,033 | -€225 | -6.9% |
| Remuneration, social security and pensions | 62 | €208,901 | €252,210 | +€43,309 | +20.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €48,989 | €44,574 | -€4,415 | -9.0% |
| Other operating charges | 640/8 | €19,326 | €12,163 | -€7,163 | -37.1% |
| Gross operating margin | 9900 | €339,770 | €409,842 | +€70,072 | +20.6% |
| Operating profit (loss) | 9901 | €62,554 | €100,896 | +€38,342 | +61.3% |
| Financial income | 75/76B | €4 | €32 | +€28 | +715.6% |
| Recurring financial income | 75 | €4 | €32 | +€28 | +715.6% |
| Financial charges | 65/66B | €51,430 | €64,891 | +€13,462 | +26.2% |
| Recurring financial charges | 65 | €51,430 | €64,891 | +€13,462 | +26.2% |
| Profit (loss) for the period before taxes | 9903 | €11,128 | €36,036 | +€24,908 | +223.8% |
| Income taxes | 67/77 | €9,938 | €21,093 | +€11,155 | +112.2% |
| Profit (loss) for the period | 9904 | €1,190 | €14,943 | +€13,753 | +1155.8% |
| Profit (loss) for the period to be appropriated | 9905 | €1,190 | €14,943 | +€13,753 | +1155.8% |
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 5 October 2026 via checked.be.