ALSTEF: 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.
ALSTEF
Largest movements
- Receivables within one year +€1,279
up €1,279 (+181.4%), from €705 to €1,983
of which Other amounts receivable: +€979
- Deferred charges and accrued income +€300
new in 2025: €300
- Cash +€220
up €220 (+301.8%), from €73 to €293
mainly Other debts (+€6,456) and Depreciation (+€453)
- Tangible fixed assets +€217
up €217 (+4.9%), from €4,434 to €4,650
- Other debts +€6,456
up €6,456 (+61.3%), from €10,536 to €16,992
- Profit (loss) carried forward -€3,830
down €3,830 (-29.8%), from -€12,862 to -€16,691
- Trade debts -€1,011
down €1,011 (-58.2%), from €1,737 to €726
- Accrued charges and deferred income +€400
new in 2025: €400
- Gross operating margin +€1,382
up €1,382 (+32.8%), from -€4,215 to -€2,833
- Depreciation +€367
up €367 (+431.3%), from €85 to €453
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 | €5,411 | €7,426 | +€2,015 | +37.2% |
| Fixed assets | 21/28 | €4,634 | €4,850 | +€217 | +4.7% |
| Tangible fixed assets | 22/27 | €4,434 | €4,650 | +€217 | +4.9% |
| Plant, machinery and equipment | 23 | €4,434 | €4,650 | +€217 | +4.9% |
| Financial fixed assets | 28 | €200 | €200 | = | 0.0% |
| Current assets | 29/58 | €778 | €2,576 | +€1,799 | +231.3% |
| Amounts receivable within one year | 40/41 | €705 | €1,983 | +€1,279 | +181.4% |
| Trade receivables | 40 | - | €300 | +€300 | |
| Other amounts receivable | 41 | €705 | €1,683 | +€979 | +138.9% |
| Cash at bank and in hand | 54/58 | €73 | €293 | +€220 | +301.8% |
| Deferred charges and accrued income | 490/1 | - | €300 | +€300 | |
| Total equity and liabilities | 10/49 | €5,411 | €7,426 | +€2,015 | +37.2% |
| Equity | 10/15 | -€6,862 | -€10,691 | -€3,830 | -55.8% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€12,862 | -€16,691 | -€3,830 | -29.8% |
| Amounts payable | 17/49 | €12,273 | €18,118 | +€5,845 | +47.6% |
| Amounts payable within one year | 42/48 | €12,273 | €17,718 | +€5,445 | +44.4% |
| Trade debts | 44 | €1,737 | €726 | -€1,011 | -58.2% |
| Suppliers | 440/4 | €1,737 | €726 | -€1,011 | -58.2% |
| Other amounts payable | 47/48 | €10,536 | €16,992 | +€6,456 | +61.3% |
| Accrued charges and deferred income | 492/3 | - | €400 | +€400 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €85 | €453 | +€367 | +431.3% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | -€4,215 | -€2,833 | +€1,382 | +32.8% |
| Operating profit (loss) | 9901 | -€4,687 | -€3,685 | +€1,002 | +21.4% |
| Financial charges | 65/66B | €181 | €144 | -€36 | -20.0% |
| Recurring financial charges | 65 | €181 | €144 | -€36 | -20.0% |
| Profit (loss) for the period before taxes | 9903 | -€4,868 | -€3,830 | +€1,038 | +21.3% |
| Profit (loss) for the period | 9904 | -€4,868 | -€3,830 | +€1,038 | +21.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€4,868 | -€3,830 | +€1,038 | +21.3% |
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 3 October 2026 via checked.be.