SOLAR FORCE ALFA: 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.
SOLAR FORCE ALFA
Largest movements
- Tangible fixed assets -€56,673
down €56,673 (-14.8%), from €381,800 to €325,127
of which Leasing and similar rights: -€49,071
- Cash +€11,648
up €11,648 (+7.5%), from €156,182 to €167,831
mainly Depreciation (+€56,673) and Net result for the year (+€32,042)
- Receivables within one year -€7,782
down €7,782 (-26.8%), from €29,043 to €21,262
of which Other amounts receivable: -€13,423
- Debts after one year -€95,429
down €95,429 (-61.4%), from €155,545 to €60,116
of which Financial debts: -€75,429
- Reserves +€32,042
up €32,042 (+19.6%), from €163,251 to €195,293
- Tax, wage and social debts +€12,041
up €12,041 (+453%), from €2,656 to €14,697
- Gross operating margin +€54,949
up €54,949 (+114%), from €47,991 to €102,941
- Financial charges -€3,876
down €3,876 (-26.8%), from €14,471 to €10,596
- Taxes +€2,736
new in 2025: €2,736
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 | €567,872 | €517,862 | -€50,010 | -8.8% |
| Fixed assets | 21/28 | €382,325 | €325,652 | -€56,673 | -14.8% |
| Tangible fixed assets | 22/27 | €381,800 | €325,127 | -€56,673 | -14.8% |
| Plant, machinery and equipment | 23 | €46,484 | €38,881 | -€7,603 | -16.4% |
| Leasing and similar rights | 25 | €335,316 | €286,246 | -€49,071 | -14.6% |
| Financial fixed assets | 28 | €525 | €525 | = | 0.0% |
| Current assets | 29/58 | €185,547 | €192,210 | +€6,664 | +3.6% |
| Amounts receivable within one year | 40/41 | €29,043 | €21,262 | -€7,782 | -26.8% |
| Trade receivables | 40 | €7,147 | €12,788 | +€5,641 | +78.9% |
| Other amounts receivable | 41 | €21,896 | €8,474 | -€13,423 | -61.3% |
| Cash at bank and in hand | 54/58 | €156,182 | €167,831 | +€11,648 | +7.5% |
| Deferred charges and accrued income | 490/1 | €321 | €3,118 | +€2,797 | +871% |
| Total equity and liabilities | 10/49 | €567,872 | €517,862 | -€50,010 | -8.8% |
| Equity | 10/15 | €263,251 | €295,293 | +€32,042 | +12.2% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €163,251 | €195,293 | +€32,042 | +19.6% |
| Distributable reserves | 133 | €163,251 | €195,293 | +€32,042 | +19.6% |
| Amounts payable | 17/49 | €304,621 | €222,569 | -€82,052 | -26.9% |
| Amounts payable after more than one year | 17 | €155,545 | €60,116 | -€95,429 | -61.4% |
| Financial debts | 170/4 | €95,545 | €20,116 | -€75,429 | -78.9% |
| Other amounts payable | 178/9 | €60,000 | €40,000 | -€20,000 | -33.3% |
| Amounts payable within one year | 42/48 | €144,363 | €159,353 | +€14,990 | +10.4% |
| Current portion of amounts payable after more than one year | 42 | €71,729 | €75,429 | +€3,700 | +5.2% |
| Trade debts | 44 | €69,977 | €69,227 | -€751 | -1.1% |
| Suppliers | 440/4 | €69,977 | €69,227 | -€751 | -1.1% |
| Taxes, remuneration and social security | 45 | €2,656 | €14,697 | +€12,041 | +453% |
| Taxes | 450/3 | €2,656 | €14,697 | +€12,041 | +453% |
| Accrued charges and deferred income | 492/3 | €4,713 | €3,100 | -€1,613 | -34.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €56,673 | €56,673 | = | 0.0% |
| Other operating charges | 640/8 | €680 | €895 | +€214 | +31.5% |
| Gross operating margin | 9900 | €47,991 | €102,941 | +€54,949 | +114% |
| Operating profit (loss) | 9901 | -€9,363 | €45,372 | +€54,735 | |
| Financial income | 75/76B | - | €2 | +€2 | |
| Recurring financial income | 75 | - | €2 | +€2 | |
| Financial charges | 65/66B | €14,471 | €10,596 | -€3,876 | -26.8% |
| Recurring financial charges | 65 | €14,471 | €10,596 | -€3,876 | -26.8% |
| Profit (loss) for the period before taxes | 9903 | -€23,834 | €34,779 | +€58,613 | |
| Income taxes | 67/77 | - | €2,736 | +€2,736 | |
| Profit (loss) for the period | 9904 | -€23,834 | €32,042 | +€55,877 | |
| Profit (loss) for the period to be appropriated | 9905 | -€23,834 | €32,042 | +€55,877 |
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 30 October 2026 via checked.be.