ECHO ALFA NOVEMBER: 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.
ECHO ALFA NOVEMBER
Largest movements
- Receivables within one year -€6,582
down €6,582 (-96.2%), from €6,843 to €261
of which Other amounts receivable: -€5,416
- Cash -€303
down €303 (-94.6%), from €321 to €17
mainly Other debts (-€13,494)
- Other debts -€13,494
no longer reported in 2026 (was €13,494)
- Profit (loss) carried forward +€6,609
up €6,609 (+2.5%), from -€265,613 to -€259,004
- Gross operating margin -€97,648
down €97,648 (-86.5%), from €112,848 to €15,200
- Financial charges +€5,690
up €5,690 (+206.4%), from €2,757 to €8,447
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.
Cash bridge derived
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 | €7,163 | €278 | -€6,885 | -96.1% |
| Current assets | 29/58 | €7,163 | €278 | -€6,885 | -96.1% |
| Amounts receivable within one year | 40/41 | €6,843 | €261 | -€6,582 | -96.2% |
| Trade receivables | 40 | €1,166 | - | -€1,166 | |
| Other amounts receivable | 41 | €5,677 | €261 | -€5,416 | -95.4% |
| Cash at bank and in hand | 54/58 | €321 | €17 | -€303 | -94.6% |
| Total equity and liabilities | 10/49 | €7,163 | €278 | -€6,885 | -96.1% |
| Equity | 10/15 | -€194,330 | -€187,722 | +€6,609 | +3.4% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €9,283 | €9,283 | = | 0.0% |
| Distributable reserves | 133 | €9,283 | €9,283 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€265,613 | -€259,004 | +€6,609 | +2.5% |
| Amounts payable | 17/49 | €201,494 | €188,000 | -€13,494 | -6.7% |
| Amounts payable after more than one year | 17 | €188,000 | €188,000 | = | 0.0% |
| Financial debts | 170/4 | €188,000 | €188,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €13,494 | - | -€13,494 | |
| Other amounts payable | 47/48 | €13,494 | - | -€13,494 | |
| Non-recurring operating income | 76A | €111,245 | - | -€111,245 | |
| Other operating charges | 640/8 | €610 | €144 | -€465 | -76.4% |
| Gross operating margin | 9900 | €112,848 | €15,200 | -€97,648 | -86.5% |
| Operating profit (loss) | 9901 | €112,239 | €15,056 | -€97,183 | -86.6% |
| Financial charges | 65/66B | €2,757 | €8,447 | +€5,690 | +206.4% |
| Recurring financial charges | 65 | €2,757 | €8,447 | +€5,690 | +206.4% |
| Profit (loss) for the period before taxes | 9903 | €109,482 | €6,609 | -€102,874 | -94.0% |
| Profit (loss) for the period | 9904 | €109,482 | €6,609 | -€102,874 | -94.0% |
| Profit (loss) for the period to be appropriated | 9905 | €109,482 | €6,609 | -€102,874 | -94.0% |
Source: filed annual accounts (NBB), fiscal years ended 28 February 2025 and 28 February 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.