ALPHATRAD: 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.
ALPHATRAD
Largest movements
- Receivables after one year +€14,062
up €14,062 (+7.8%), from €180,735 to €194,797
- Receivables within one year +€9,602
up €9,602 (+380.0%), from €2,527 to €12,129
of which Trade receivables: +€9,765
- Cash +€4,395
up €4,395 (+267.5%), from €1,643 to €6,038
mainly Net result for the year (+€35,413) and Tax, wage and social debts (+€5,401)
- Reserves +€34,815
up €34,815 (+33.2%), from €104,899 to €139,713
of which Distributable reserves: +€34,815
- Short-term financial debts -€8,870
down €8,870 (-40.7%), from €21,800 to €12,930
- Tax, wage and social debts +€5,401
up €5,401 (+25.4%), from €21,275 to €26,676
- Trade debts -€2,504
down €2,504 (-9.1%), from €27,625 to €25,121
- Gross operating margin +€17,057
up €17,057 (+60.8%), from €28,041 to €45,098
- Taxes +€3,328
up €3,328 (+33.4%), from €9,963 to €13,291
- Depreciation -€2,464
down €2,464 (-100.0%), from €2,464 to €0
- Financial income +€995
up €995 (+9.0%), from €11,107 to €12,103
- Financial charges +€985
up €985 (+30.7%), from €3,206 to €4,191
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 | €196,423 | €225,280 | +€28,856 | +14.7% |
| Fixed assets | 21/28 | €412 | €0 | -€412 | -100.0% |
| Tangible fixed assets | 22/27 | €412 | €0 | -€412 | -100.0% |
| Furniture and vehicles | 24 | €412 | €0 | -€412 | -100.0% |
| Current assets | 29/58 | €196,012 | €225,280 | +€29,268 | +14.9% |
| Amounts receivable after more than one year | 29 | €180,735 | €194,797 | +€14,062 | +7.8% |
| Other amounts receivable | 291 | €180,735 | €194,797 | +€14,062 | +7.8% |
| Amounts receivable within one year | 40/41 | €2,527 | €12,129 | +€9,602 | +380.0% |
| Trade receivables | 40 | €2,306 | €12,071 | +€9,765 | +423.4% |
| Other amounts receivable | 41 | €221 | €58 | -€163 | -73.8% |
| Cash at bank and in hand | 54/58 | €1,643 | €6,038 | +€4,395 | +267.5% |
| Deferred charges and accrued income | 490/1 | €11,107 | €12,316 | +€1,209 | +10.9% |
| Total equity and liabilities | 10/49 | €196,423 | €225,280 | +€28,856 | +14.7% |
| Equity | 10/15 | €123,640 | €159,053 | +€35,413 | +28.6% |
| Contributions | 10/11 | €18,741 | €18,741 | = | 0.0% |
| Reserves | 13 | €104,899 | €139,713 | +€34,815 | +33.2% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €104,899 | €139,713 | +€34,815 | +33.2% |
| Profit (loss) carried forward | 14 | - | €599 | +€599 | |
| Amounts payable | 17/49 | €72,784 | €66,227 | -€6,557 | -9.0% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €71,284 | €64,727 | -€6,557 | -9.2% |
| Current portion of amounts payable after more than one year | 42 | €584 | €0 | -€584 | -100.0% |
| Financial debts | 43 | €21,800 | €12,930 | -€8,870 | -40.7% |
| Credit institutions | 430/8 | €21,800 | €12,930 | -€8,870 | -40.7% |
| Trade debts | 44 | €27,625 | €25,121 | -€2,504 | -9.1% |
| Suppliers | 440/4 | €27,625 | €25,121 | -€2,504 | -9.1% |
| Taxes, remuneration and social security | 45 | €21,275 | €26,676 | +€5,401 | +25.4% |
| Taxes | 450/3 | €21,275 | €26,676 | +€5,401 | +25.4% |
| Accrued charges and deferred income | 492/3 | €1,500 | €1,500 | = | 0.0% |
| Non-recurring operating income | 76A | - | €6,406 | +€6,406 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,464 | €0 | -€2,464 | -100.0% |
| Other operating charges | 640/8 | €1,111 | €869 | -€242 | -21.8% |
| Non-recurring operating charges | 66A | - | €3,437 | +€3,437 | |
| Gross operating margin | 9900 | €28,041 | €45,098 | +€17,057 | +60.8% |
| Operating profit (loss) | 9901 | €24,466 | €40,793 | +€16,327 | +66.7% |
| Financial income | 75/76B | €11,107 | €12,103 | +€995 | +9.0% |
| Recurring financial income | 75 | €11,107 | €12,103 | +€995 | +9.0% |
| Financial charges | 65/66B | €3,206 | €4,191 | +€985 | +30.7% |
| Recurring financial charges | 65 | €3,206 | €4,191 | +€985 | +30.7% |
| Profit (loss) for the period before taxes | 9903 | €32,368 | €48,704 | +€16,336 | +50.5% |
| Income taxes | 67/77 | €9,963 | €13,291 | +€3,328 | +33.4% |
| Profit (loss) for the period | 9904 | €22,405 | €35,413 | +€13,009 | +58.1% |
| Profit (loss) for the period to be appropriated | 9905 | €22,405 | €35,413 | +€13,009 | +58.1% |
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 2 October 2026 via checked.be.