ALPIEX: 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.
ALPIEX
Largest movements
- Cash -€15,526
down €15,526 (-27.4%), from €56,766 to €41,241
mainly Receivables within one year (-€7,281) and Other debts (-€6,819)
- Receivables within one year +€7,281
up €7,281 (+42.2%), from €17,257 to €24,538
of which Other amounts receivable: +€4,445
- Deferred charges and accrued income -€1,841
no longer reported in 2025 (was €1,841)
- Tangible fixed assets +€933
up €933 (+35.7%), from €2,611 to €3,544
of which Assets under construction and advance payments: +€2,483
- Profit (loss) carried forward +€21,654
new in 2025: €21,654
- Reserves -€20,593
down €20,593 (-45.3%), from €45,415 to €24,821
- Other debts -€6,819
down €6,819 (-42.3%), from €16,114 to €9,295
- Tax, wage and social debts -€3,810
down €3,810 (-61.9%), from €6,151 to €2,341
- Gross operating margin -€6,370
down €6,370 (-51.9%), from €12,261 to €5,892
- Taxes -€2,854
down €2,854 (-82.2%), from €3,474 to €620
- Financial income +€1,378
new in 2025: €1,378
of which Financial income: +€1,378
- Financial charges +€1,122
up €1,122 (+120.1%), from €934 to €2,056
- Depreciation +€831
up €831 (+48.1%), from €1,727 to €2,558
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 | €78,475 | €69,322 | -€9,153 | -11.7% |
| Fixed assets | 21/28 | €2,611 | €3,544 | +€933 | +35.7% |
| Tangible fixed assets | 22/27 | €2,611 | €3,544 | +€933 | +35.7% |
| Plant, machinery and equipment | 23 | €2,611 | €1,060 | -€1,550 | -59.4% |
| Assets under construction and advance payments | 27 | - | €2,483 | +€2,483 | |
| Current assets | 29/58 | €75,864 | €65,778 | -€10,086 | -13.3% |
| Amounts receivable within one year | 40/41 | €17,257 | €24,538 | +€7,281 | +42.2% |
| Trade receivables | 40 | €12,717 | €15,553 | +€2,836 | +22.3% |
| Other amounts receivable | 41 | €4,540 | €8,985 | +€4,445 | +97.9% |
| Cash at bank and in hand | 54/58 | €56,766 | €41,241 | -€15,526 | -27.4% |
| Deferred charges and accrued income | 490/1 | €1,841 | - | -€1,841 | |
| Total equity and liabilities | 10/49 | €78,475 | €69,322 | -€9,153 | -11.7% |
| Equity | 10/15 | €47,415 | €48,475 | +€1,060 | +2.2% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €45,415 | €24,821 | -€20,593 | -45.3% |
| Distributable reserves | 133 | €45,415 | €24,821 | -€20,593 | -45.3% |
| Profit (loss) carried forward | 14 | - | €21,654 | +€21,654 | |
| Amounts payable | 17/49 | €31,060 | €20,847 | -€10,213 | -32.9% |
| Amounts payable within one year | 42/48 | €31,060 | €20,847 | -€10,213 | -32.9% |
| Trade debts | 44 | €8,795 | €9,211 | +€416 | +4.7% |
| Suppliers | 440/4 | €8,795 | €9,211 | +€416 | +4.7% |
| Taxes, remuneration and social security | 45 | €6,151 | €2,341 | -€3,810 | -61.9% |
| Taxes | 450/3 | €6,151 | €2,341 | -€3,810 | -61.9% |
| Other amounts payable | 47/48 | €16,114 | €9,295 | -€6,819 | -42.3% |
| Non-recurring operating income | 76A | €32 | - | -€32 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,727 | €2,558 | +€831 | +48.1% |
| Other operating charges | 640/8 | €538 | €976 | +€438 | +81.4% |
| Gross operating margin | 9900 | €12,261 | €5,892 | -€6,370 | -51.9% |
| Operating profit (loss) | 9901 | €9,997 | €2,358 | -€7,638 | -76.4% |
| Financial income | 75/76B | - | €1,378 | +€1,378 | |
| Recurring financial income | 75 | - | €1,378 | +€1,378 | |
| Non-recurring financial income | 76B | - | €1,378 | +€1,378 | |
| Financial charges | 65/66B | €934 | €2,056 | +€1,122 | +120.1% |
| Recurring financial charges | 65 | €934 | €2,056 | +€1,122 | +120.1% |
| Profit (loss) for the period before taxes | 9903 | €9,062 | €1,680 | -€7,382 | -81.5% |
| Income taxes | 67/77 | €3,474 | €620 | -€2,854 | -82.2% |
| Profit (loss) for the period | 9904 | €5,589 | €1,060 | -€4,528 | -81.0% |
| Profit (loss) for the period to be appropriated | 9905 | €5,589 | €1,060 | -€4,528 | -81.0% |
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.