ALPHEGA CONSULT: what changed
Two financial 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.
ALPHEGA CONSULT
Largest movements
- Cash -€89,484
down €89,484 (-64.9%), from €137,869 to €48,385
mainly Contributions, distributions and other (-€132,570) and Current investments (-€48,740)
- Current investments +€48,740
up €48,740 (+5.6%), from €871,659 to €920,399
- Tangible fixed assets -€12,843
down €12,843 (-30.8%), from €41,753 to €28,910
of which Land and buildings: -€22,243
- Reserves -€46,570
down €46,570 (-4.2%), from €1.1m to €1.1m
of which Tax-exempt reserves: -€617,668
- Depreciation +€6,270
up €6,270 (+83.3%), from €7,527 to €13,797
- Purchases and services +€5,752
up €5,752 (+6.4%), from €90,146 to €95,898
- Taxes -€5,482
down €5,482 (-14.4%), from €38,031 to €32,549
- Gross operating margin -€4,513
down €4,513 (-3.0%), from €148,328 to €143,815
From the 2025 result to the 2026 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.
Derived cash bridge
Derived from the 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,124,850 | €1,071,263 | -€53,587 | -4.8% |
| Fixed assets | 21/28 | €41,753 | €28,910 | -€12,843 | -30.8% |
| Tangible fixed assets | 22/27 | €41,753 | €28,910 | -€12,843 | -30.8% |
| Land and buildings | 22 | €22,243 | - | -€22,243 | |
| Plant, machinery and equipment | 23 | - | €357 | +€357 | |
| Furniture and vehicles | 24 | €19,510 | €14,557 | -€4,953 | -25.4% |
| Other tangible fixed assets | 26 | - | €13,996 | +€13,996 | |
| Current assets | 29/58 | €1,083,097 | €1,042,353 | -€40,744 | -3.8% |
| Amounts receivable within one year | 40/41 | €72,949 | €72,949 | = | 0.0% |
| Trade receivables | 40 | €21,930 | €21,930 | = | 0.0% |
| Other amounts receivable | 41 | €51,019 | €51,019 | = | 0.0% |
| Current investments | 50/53 | €871,659 | €920,399 | +€48,740 | +5.6% |
| Cash at bank and in hand | 54/58 | €137,869 | €48,385 | -€89,484 | -64.9% |
| Deferred charges and accrued income | 490/1 | €620 | €620 | = | 0.0% |
| Total equity and liabilities | 10/49 | €1,124,850 | €1,071,263 | -€53,587 | -4.8% |
| Equity | 10/15 | €1,097,701 | €1,051,029 | -€46,672 | -4.3% |
| Reserves | 13 | €1,097,123 | €1,050,553 | -€46,570 | -4.2% |
| Non-distributable reserves | 130/1 | €8,061 | €579,159 | +€571,098 | +7,085% |
| Reserves not available under the articles | 1311 | €8,061 | €8,061 | = | 0.0% |
| Other | 1319 | - | €571,098 | +€571,098 | |
| Tax-exempt reserves | 132 | €617,668 | - | -€617,668 | |
| Distributable reserves | 133 | €471,394 | €471,394 | = | 0.0% |
| Profit (loss) carried forward | 14 | €578 | €476 | -€102 | -17.6% |
| Amounts payable | 17/49 | €27,149 | €20,234 | -€6,915 | -25.5% |
| Amounts payable after more than one year | 17 | €14,179 | €14,179 | = | 0.0% |
| Financial debts | 170/4 | €14,179 | €14,179 | = | 0.0% |
| Amounts payable within one year | 42/48 | €12,970 | €6,055 | -€6,915 | -53.3% |
| Trade debts | 44 | €98 | €1,746 | +€1,648 | +1,682% |
| Suppliers | 440/4 | €98 | €1,746 | +€1,648 | +1,682% |
| Taxes, remuneration and social security | 45 | €12,872 | €4,309 | -€8,563 | -66.5% |
| Taxes | 450/3 | €11,350 | €3,165 | -€8,185 | -72.1% |
| Remuneration and social security | 454/9 | €1,522 | €1,144 | -€378 | -24.8% |
| Turnover | 70 | €238,474 | €239,713 | +€1,239 | +0.5% |
| Goods, raw materials, services and sundry goods | 60/61 | €90,146 | €95,898 | +€5,752 | +6.4% |
| Remuneration, social security and pensions | 62 | €10,208 | €9,205 | -€1,003 | -9.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,527 | €13,797 | +€6,270 | +83.3% |
| Other operating charges | 640/8 | €1,479 | €2,525 | +€1,046 | +70.7% |
| Gross operating margin | 9900 | €148,328 | €143,815 | -€4,513 | -3.0% |
| Operating profit (loss) | 9901 | €129,114 | €118,288 | -€10,826 | -8.4% |
| Financial income | 75/76B | €152 | €863 | +€711 | +468% |
| Recurring financial income | 75 | €152 | €863 | +€711 | +468% |
| Financial charges | 65/66B | €330 | €704 | +€374 | +113% |
| Recurring financial charges | 65 | €330 | €704 | +€374 | +113% |
| Profit (loss) for the period before taxes | 9903 | €128,936 | €118,447 | -€10,489 | -8.1% |
| Income taxes | 67/77 | €38,031 | €32,549 | -€5,482 | -14.4% |
| Profit (loss) for the period | 9904 | €90,905 | €85,898 | -€5,007 | -5.5% |
| Profit (loss) for the period to be appropriated | 9905 | €90,905 | €85,898 | -€5,007 | -5.5% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 October 2026 via checked.be.