ALPHATRONICS: 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.
What changed
ALPHATRONICS
NACE 43.211, General electrical installation work
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€126,679
2024 · €37,770+€88,909
Equity
€1.6m
2024 · €1.4m+€126,679
Cash
€150,253
2024 · €154,305-€4,052
Balance sheet total
€4.2m
2024 · €4.2m+€3,817
Largest movements
Assets
- Receivables within one year +€160,336
up €160,336 (+9.1%), from €1.8m to €1.9m
of which Trade receivables: +€174,816
- Stocks and contracts -€146,442
down €146,442 (-10.2%), from €1.4m to €1.3m
of which Stocks: -€141,941
Equity and liabilities
- Reserves +€126,679
up €126,679 (+9.3%), from €1.4m to €1.5m
of which Distributable reserves: +€126,679
- Advances received -€114,315
down €114,315 (-47.0%), from €243,177 to €128,862
- Tax, wage and social debts +€80,711
up €80,711 (+27.3%), from €296,145 to €376,856
of which Taxes: +€61,478
Income statement
- Gross operating margin +€183,745
up €183,745 (+9.0%), from €2.0m to €2.2m
- Staff costs +€62,119
up €62,119 (+3.3%), from €1.9m to €1.9m
- Taxes +€26,993
up €26,993 (+75.5%), from €35,748 to €62,741
- Financial income -€23,311
down €23,311 (-53.4%), from €43,632 to €20,321
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.
Result 2024
€37,770
Gross operating margin
+€183,745
Staff costs
-€62,119
Depreciation
+€8,535
Other operating charges
-€425
Financial income
-€23,311
Financial charges
+€9,477
Taxes
-€26,993
Result 2025
€126,679
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.
From operations
+€127,568
Investment
-€42,239
Financing
-€89,381
Cash 2024
€154,305
From operations (derived)
+€127,568
Net result for the year
+€126,679
Depreciation
+€39,914
Stocks and contracts
+€146,442
Receivables within one year
-€160,336
Deferred charges and accrued income
+€8,351
Trade debts
+€15,206
Tax, wage and social debts
+€80,711
Advances received
-€114,315
Other debts
-€4,953
Accrued charges and deferred income
-€10,130
Investment (derived)
-€42,239
Investment in fixed assets (net)
-€42,239
Financing
-€89,381
Debts after one year
-€35,053
Current portion of long-term debt
-€26,328
Short-term financial debts
-€28,000
Cash 2025
€150,253
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,190,183 | €4,194,000 | +€3,817 | +0.1% |
| Fixed assets | 21/28 | €815,891 | €818,216 | +€2,326 | +0.3% |
| Intangible fixed assets | 21 | €2,057 | €0 | -€2,057 | -100.0% |
| Tangible fixed assets | 22/27 | €121,333 | €125,491 | +€4,158 | +3.4% |
| Land and buildings | 22 | €17,603 | €27,807 | +€10,204 | +58.0% |
| Plant, machinery and equipment | 23 | €2,718 | €1,614 | -€1,104 | -40.6% |
| Furniture and vehicles | 24 | €101,012 | €96,071 | -€4,941 | -4.9% |
| Financial fixed assets | 28 | €692,500 | €692,725 | +€225 | 0.0% |
| Current assets | 29/58 | €3,374,292 | €3,375,784 | +€1,492 | 0.0% |
| Stocks and contracts in progress | 3 | €1,437,382 | €1,290,940 | -€146,442 | -10.2% |
| Stocks | 30/36 | €1,401,254 | €1,259,313 | -€141,941 | -10.1% |
| Contracts in progress | 37 | €36,128 | €31,627 | -€4,500 | -12.5% |
| Amounts receivable within one year | 40/41 | €1,756,855 | €1,917,192 | +€160,336 | +9.1% |
| Trade receivables | 40 | €1,110,583 | €1,285,399 | +€174,816 | +15.7% |
| Other amounts receivable | 41 | €646,272 | €631,793 | -€14,479 | -2.2% |
| Cash at bank and in hand | 54/58 | €154,305 | €150,253 | -€4,052 | -2.6% |
| Deferred charges and accrued income | 490/1 | €25,750 | €17,399 | -€8,351 | -32.4% |
| Total equity and liabilities | 10/49 | €4,190,183 | €4,194,000 | +€3,817 | +0.1% |
| Equity | 10/15 | €1,437,882 | €1,564,561 | +€126,679 | +8.8% |
| Contributions | 10/11 | €75,000 | €75,000 | = | 0.0% |
| Capital | 10 | €75,000 | €75,000 | = | 0.0% |
| Issued capital | 100 | €75,000 | €75,000 | = | 0.0% |
| Reserves | 13 | €1,362,882 | €1,489,561 | +€126,679 | +9.3% |
| Non-distributable reserves | 130/1 | €7,500 | €7,500 | = | 0.0% |
| Legal reserve | 130 | €7,500 | €7,500 | = | 0.0% |
| Distributable reserves | 133 | €1,355,382 | €1,482,061 | +€126,679 | +9.3% |
| Amounts payable | 17/49 | €2,752,300 | €2,629,439 | -€122,862 | -4.5% |
| Amounts payable after more than one year | 17 | €60,384 | €25,331 | -€35,053 | -58.0% |
| Financial debts | 170/4 | €60,384 | €25,331 | -€35,053 | -58.0% |
| Amounts payable within one year | 42/48 | €2,681,476 | €2,603,797 | -€77,679 | -2.9% |
| Current portion of amounts payable after more than one year | 42 | €175,620 | €149,292 | -€26,328 | -15.0% |
| Financial debts | 43 | €725,000 | €697,000 | -€28,000 | -3.9% |
| Credit institutions | 430/8 | €725,000 | €697,000 | -€28,000 | -3.9% |
| Trade debts | 44 | €1,233,978 | €1,249,184 | +€15,206 | +1.2% |
| Suppliers | 440/4 | €1,233,978 | €1,249,184 | +€15,206 | +1.2% |
| Advances received on contracts in progress | 46 | €243,177 | €128,862 | -€114,315 | -47.0% |
| Taxes, remuneration and social security | 45 | €296,145 | €376,856 | +€80,711 | +27.3% |
| Taxes | 450/3 | €35,713 | €97,190 | +€61,478 | +172.1% |
| Remuneration and social security | 454/9 | €260,432 | €279,665 | +€19,233 | +7.4% |
| Other amounts payable | 47/48 | €7,557 | €2,604 | -€4,953 | -65.5% |
| Accrued charges and deferred income | 492/3 | €10,440 | €310 | -€10,130 | -97.0% |
| Remuneration, social security and pensions | 62 | €1,867,110 | €1,929,229 | +€62,119 | +3.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €48,448 | €39,914 | -€8,535 | -17.6% |
| Other operating charges | 640/8 | €23,526 | €23,951 | +€425 | +1.8% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €2,046,795 | €2,230,541 | +€183,745 | +9.0% |
| Operating profit (loss) | 9901 | €107,711 | €237,447 | +€129,736 | +120.4% |
| Financial income | 75/76B | €43,632 | €20,321 | -€23,311 | -53.4% |
| Recurring financial income | 75 | €43,632 | €20,321 | -€23,311 | -53.4% |
| Financial charges | 65/66B | €77,825 | €68,348 | -€9,477 | -12.2% |
| Recurring financial charges | 65 | €77,825 | €68,348 | -€9,477 | -12.2% |
| Profit (loss) for the period before taxes | 9903 | €73,518 | €189,420 | +€115,902 | +157.7% |
| Income taxes | 67/77 | €35,748 | €62,741 | +€26,993 | +75.5% |
| Profit (loss) for the period | 9904 | €37,770 | €126,679 | +€88,909 | +235.4% |
| Profit (loss) for the period to be appropriated | 9905 | €37,770 | €126,679 | +€88,909 | +235.4% |
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.