SPEED ALPHA: 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.
SPEED ALPHA
Largest movements
- Stocks and contracts +€7,888
new in 2025: €7,888
- Deferred charges and accrued income -€6,866
no longer reported in 2025 (was €6,866)
- Receivables within one year +€5,993
up €5,993 (+35.3%), from €16,972 to €22,965
of which Trade receivables: +€8,993
- Tangible fixed assets +€2,942
up €2,942 (+29.3%), from €10,033 to €12,975
- Financial fixed assets +€2,625
new in 2025: €2,625
- Profit (loss) carried forward +€11,341
up €11,341 (+30.6%), from €37,073 to €48,414
- Trade debts +€3,690
up €3,690 (+99.5%), from €3,707 to €7,398
- Other debts -€3,094
down €3,094 (-32.1%), from €9,651 to €6,557
- Gross operating margin -€15,467
down €15,467 (-46.6%), from €33,163 to €17,696
- Taxes -€2,719
down €2,719 (-50.8%), from €5,357 to €2,638
- Financial charges -€1,115
down €1,115 (-94.8%), from €1,176 to €61
- Other operating charges -€739
down €739 (-74.1%), from €997 to €258
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 | €51,639 | €64,118 | +€12,479 | +24.2% |
| Fixed assets | 21/28 | €10,033 | €15,600 | +€5,567 | +55.5% |
| Tangible fixed assets | 22/27 | €10,033 | €12,975 | +€2,942 | +29.3% |
| Furniture and vehicles | 24 | €10,033 | €12,975 | +€2,942 | +29.3% |
| Financial fixed assets | 28 | - | €2,625 | +€2,625 | |
| Current assets | 29/58 | €41,605 | €48,518 | +€6,913 | +16.6% |
| Stocks and contracts in progress | 3 | - | €7,888 | +€7,888 | |
| Stocks | 30/36 | - | €7,888 | +€7,888 | |
| Amounts receivable within one year | 40/41 | €16,972 | €22,965 | +€5,993 | +35.3% |
| Trade receivables | 40 | €11,972 | €20,965 | +€8,993 | +75.1% |
| Other amounts receivable | 41 | €5,000 | €2,000 | -€3,000 | -60.0% |
| Cash at bank and in hand | 54/58 | €17,768 | €17,665 | -€103 | -0.6% |
| Deferred charges and accrued income | 490/1 | €6,866 | - | -€6,866 | |
| Total equity and liabilities | 10/49 | €51,639 | €64,118 | +€12,479 | +24.2% |
| Equity | 10/15 | €37,573 | €48,914 | +€11,341 | +30.2% |
| Contributions | 10/11 | €500 | €500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €37,073 | €48,414 | +€11,341 | +30.6% |
| Amounts payable | 17/49 | €14,066 | €15,205 | +€1,138 | +8.1% |
| Amounts payable within one year | 42/48 | €14,066 | €15,205 | +€1,138 | +8.1% |
| Trade debts | 44 | €3,707 | €7,398 | +€3,690 | +99.5% |
| Suppliers | 440/4 | €3,707 | €7,398 | +€3,690 | +99.5% |
| Taxes, remuneration and social security | 45 | €707 | €1,250 | +€543 | +76.7% |
| Taxes | 450/3 | €707 | €1,250 | +€543 | +76.7% |
| Other amounts payable | 47/48 | €9,651 | €6,557 | -€3,094 | -32.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,459 | €3,558 | +€99 | +2.9% |
| Other operating charges | 640/8 | €997 | €258 | -€739 | -74.1% |
| Gross operating margin | 9900 | €33,163 | €17,696 | -€15,467 | -46.6% |
| Operating profit (loss) | 9901 | €28,707 | €13,880 | -€14,828 | -51.7% |
| Financial income | 75/76B | - | €160 | +€160 | |
| Recurring financial income | 75 | - | €160 | +€160 | |
| Financial charges | 65/66B | €1,176 | €61 | -€1,115 | -94.8% |
| Recurring financial charges | 65 | €1,176 | €61 | -€1,115 | -94.8% |
| Profit (loss) for the period before taxes | 9903 | €27,531 | €13,979 | -€13,552 | -49.2% |
| Income taxes | 67/77 | €5,357 | €2,638 | -€2,719 | -50.8% |
| Profit (loss) for the period | 9904 | €22,174 | €11,341 | -€10,833 | -48.9% |
| Profit (loss) for the period to be appropriated | 9905 | €22,174 | €11,341 | -€10,833 | -48.9% |
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 7 October 2026 via checked.be.