NEW ALPHA GREEN: 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.
NEW ALPHA GREEN
Largest movements
- Receivables within one year +€192,846
up €192,846 (+398%), from €48,404 to €241,250
of which Other amounts receivable: +€111,970
- Tangible fixed assets -€36,152
down €36,152 (-34.2%), from €105,793 to €69,641
of which Furniture and vehicles: -€32,444
- Deferred charges and accrued income -€19,707
down €19,707 (-68.2%), from €28,912 to €9,206
- Cash +€19,269
up €19,269 (+82.3%), from €23,406 to €42,674
mainly Short-term financial debts (+€101,260) and Net result for the year (+€57,506)
- Stocks and contracts +€16,004
up €16,004 (+39.9%), from €40,112 to €56,117
- Short-term financial debts +€101,260
up €101,260 (+123%), from €82,159 to €183,419
of which Other loans: +€100,000
- Profit (loss) carried forward +€57,506
up €57,506 (+62.7%), from -€91,722 to -€34,216
- Debts after one year +€49,938
up €49,938 (+166%), from €30,062 to €80,000
of which Other amounts payable: +€80,000
- Other debts -€30,778
no longer reported in 2025 (was €30,778)
- Trade debts -€27,159
down €27,159 (-34.2%), from €79,320 to €52,161
- Gross operating margin +€67,637
up €67,637 (+22.4%), from €302,617 to €370,254
- Staff costs +€23,858
up €23,858 (+10.0%), from €238,936 to €262,794
- Financial charges -€11,609
down €11,609 (-62.3%), from €18,627 to €7,018
- Depreciation +€6,709
up €6,709 (+25.5%), from €26,274 to €32,983
- Taxes +€5,065
up €5,065 (+291%), from €1,741 to €6,805
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.
Derived cash bridge
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 | €282,627 | €442,888 | +€160,260 | +56.7% |
| Fixed assets | 21/28 | €141,793 | €93,641 | -€48,152 | -34.0% |
| Intangible fixed assets | 21 | €36,000 | €24,000 | -€12,000 | -33.3% |
| Tangible fixed assets | 22/27 | €105,793 | €69,641 | -€36,152 | -34.2% |
| Plant, machinery and equipment | 23 | €13,739 | €5,411 | -€8,329 | -60.6% |
| Furniture and vehicles | 24 | €55,122 | €22,678 | -€32,444 | -58.9% |
| Other tangible fixed assets | 26 | €36,932 | €41,553 | +€4,621 | +12.5% |
| Current assets | 29/58 | €140,834 | €349,246 | +€208,412 | +148% |
| Stocks and contracts in progress | 3 | €40,112 | €56,117 | +€16,004 | +39.9% |
| Stocks | 30/36 | €40,112 | €56,117 | +€16,004 | +39.9% |
| Amounts receivable within one year | 40/41 | €48,404 | €241,250 | +€192,846 | +398% |
| Trade receivables | 40 | €48,004 | €128,881 | +€80,877 | +168% |
| Other amounts receivable | 41 | €400 | €112,370 | +€111,970 | +27,992% |
| Cash at bank and in hand | 54/58 | €23,406 | €42,674 | +€19,269 | +82.3% |
| Deferred charges and accrued income | 490/1 | €28,912 | €9,206 | -€19,707 | -68.2% |
| Total equity and liabilities | 10/49 | €282,627 | €442,888 | +€160,260 | +56.7% |
| Equity | 10/15 | €15,610 | €73,116 | +€57,506 | +368% |
| Contributions | 10/11 | €100,007 | €100,007 | = | 0.0% |
| Reserves | 13 | €7,326 | €7,326 | = | 0.0% |
| Distributable reserves | 133 | €7,326 | €7,326 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€91,722 | -€34,216 | +€57,506 | +62.7% |
| Amounts payable | 17/49 | €267,017 | €369,772 | +€102,754 | +38.5% |
| Amounts payable after more than one year | 17 | €30,062 | €80,000 | +€49,938 | +166% |
| Financial debts | 170/4 | €30,062 | - | -€30,062 | |
| Other amounts payable | 178/9 | - | €80,000 | +€80,000 | |
| Amounts payable within one year | 42/48 | €236,670 | €279,272 | +€42,601 | +18.0% |
| Current portion of amounts payable after more than one year | 42 | €17,274 | €7,249 | -€10,025 | -58.0% |
| Financial debts | 43 | €82,159 | €183,419 | +€101,260 | +123% |
| Credit institutions | 430/8 | €82,159 | €83,419 | +€1,260 | +1.5% |
| Other loans | 439 | - | €100,000 | +€100,000 | |
| Trade debts | 44 | €79,320 | €52,161 | -€27,159 | -34.2% |
| Suppliers | 440/4 | €79,320 | €52,161 | -€27,159 | -34.2% |
| Taxes, remuneration and social security | 45 | €27,140 | €36,443 | +€9,303 | +34.3% |
| Taxes | 450/3 | €10,227 | €19,221 | +€8,994 | +87.9% |
| Remuneration and social security | 454/9 | €16,912 | €17,221 | +€309 | +1.8% |
| Other amounts payable | 47/48 | €30,778 | - | -€30,778 | |
| Accrued charges and deferred income | 492/3 | €285 | €10,500 | +€10,215 | +3,582% |
| Non-recurring operating income | 76A | - | €29,847 | +€29,847 | |
| Remuneration, social security and pensions | 62 | €238,936 | €262,794 | +€23,858 | +10.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,274 | €32,983 | +€6,709 | +25.5% |
| Other operating charges | 640/8 | €5,391 | €5,566 | +€175 | +3.2% |
| Gross operating margin | 9900 | €302,617 | €370,254 | +€67,637 | +22.4% |
| Operating profit (loss) | 9901 | €32,015 | €68,911 | +€36,895 | +115% |
| Financial income | 75/76B | €10 | €2,418 | +€2,409 | +25,357% |
| Recurring financial income | 75 | €10 | €2,418 | +€2,409 | +25,357% |
| Financial charges | 65/66B | €18,627 | €7,018 | -€11,609 | -62.3% |
| Recurring financial charges | 65 | €18,627 | €7,018 | -€11,609 | -62.3% |
| Profit (loss) for the period before taxes | 9903 | €13,397 | €64,311 | +€50,914 | +380% |
| Income taxes | 67/77 | €1,741 | €6,805 | +€5,065 | +291% |
| Profit (loss) for the period | 9904 | €11,657 | €57,506 | +€45,849 | +393% |
| Profit (loss) for the period to be appropriated | 9905 | €11,657 | €57,506 | +€45,849 | +393% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.