ALPIVI: what changed
ALPIVI
Largest movements
- Cash -€68,495
down €68,495 (-76.9%), from €89,021 to €20,525
mainly Receivables within one year (-€54,674) and Net result for the year (-€16,422)
- Receivables within one year +€54,674
up €54,674 (+22.5%), from €242,975 to €297,649
- Profit (loss) carried forward -€16,422
down €16,422 (-57.6%), from €28,492 to €12,070
- Financial income -€27,532
down €27,532 (-55.7%), from €49,465 to €21,933
- Financial charges +€18,811
up €18,811 (+2,337%), from €805 to €19,616
- Gross operating margin -€6,122
down €6,122 (-54.3%), from -€11,278 to -€17,400
- Taxes -€5,118
down €5,118 (-98.5%), from €5,194 to €77
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €678,360 | €667,531 | -€10,829 | -1.6% |
| Fixed assets | 21/28 | €21,300 | €21,560 | +€260 | +1.2% |
| Financial fixed assets | 28 | €21,300 | €21,560 | +€260 | +1.2% |
| Current assets | 29/58 | €657,060 | €645,971 | -€11,089 | -1.7% |
| Amounts receivable within one year | 40/41 | €242,975 | €297,649 | +€54,674 | +22.5% |
| Other amounts receivable | 41 | €242,975 | €297,649 | +€54,674 | +22.5% |
| Current investments | 50/53 | €324,732 | €327,797 | +€3,065 | +0.9% |
| Cash at bank and in hand | 54/58 | €89,021 | €20,525 | -€68,495 | -76.9% |
| Deferred charges and accrued income | 490/1 | €332 | €0 | -€332 | -100% |
| Total equity and liabilities | 10/49 | €678,360 | €667,531 | -€10,829 | -1.6% |
| Equity | 10/15 | €48,284 | €31,862 | -€16,422 | -34.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,192 | €1,192 | = | 0.0% |
| Distributable reserves | 133 | €1,192 | €1,192 | = | 0.0% |
| Profit (loss) carried forward | 14 | €28,492 | €12,070 | -€16,422 | -57.6% |
| Amounts payable | 17/49 | €630,076 | €635,670 | +€5,593 | +0.9% |
| Amounts payable within one year | 42/48 | €629,589 | €635,670 | +€6,080 | +1.0% |
| Trade debts | 44 | €121 | €391 | +€270 | +223% |
| Suppliers | 440/4 | €121 | €391 | +€270 | +223% |
| Taxes, remuneration and social security | 45 | €2,300 | €2,290 | -€10 | -0.4% |
| Taxes | 450/3 | €2,300 | €2,290 | -€10 | -0.4% |
| Other amounts payable | 47/48 | €627,168 | €632,988 | +€5,820 | +0.9% |
| Accrued charges and deferred income | 492/3 | €487 | €0 | -€487 | -100% |
| Other operating charges | 640/8 | €1,097 | €1,263 | +€166 | +15.1% |
| Gross operating margin | 9900 | -€11,278 | -€17,400 | -€6,122 | -54.3% |
| Operating profit (loss) | 9901 | -€12,376 | -€18,663 | -€6,287 | -50.8% |
| Financial income | 75/76B | €49,465 | €21,933 | -€27,532 | -55.7% |
| Recurring financial income | 75 | €49,465 | €21,933 | -€27,532 | -55.7% |
| Financial charges | 65/66B | €805 | €19,616 | +€18,811 | +2,337% |
| Recurring financial charges | 65 | €805 | €19,616 | +€18,811 | +2,337% |
| Profit (loss) for the period before taxes | 9903 | €36,284 | -€16,346 | -€52,630 | |
| Income taxes | 67/77 | €5,194 | €77 | -€5,118 | -98.5% |
| Profit (loss) for the period | 9904 | €31,090 | -€16,422 | -€47,512 | |
| Profit (loss) for the period to be appropriated | 9905 | €31,090 | -€16,422 | -€47,512 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.