THE ALFACO: 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.
THE ALFACO
Largest movements
- Receivables within one year +€3,650
up €3,650 (+49.9%), from €7,321 to €10,971
- Tangible fixed assets -€1,863
down €1,863 (-3.3%), from €56,360 to €54,497
- Reserves +€1,735
up €1,735 (+42.5%), from €4,082 to €5,817
- Gross operating margin +€1,497
up €1,497 (+33.0%), from €4,531 to €6,028
- Depreciation -€1,091
down €1,091 (-36.9%), from €2,954 to €1,863
- Other operating charges -€585
down €585 (-21.0%), from €2,778 to €2,194
- Taxes +€145
new in 2025: €145
- Financial charges +€91
new in 2025: €91
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 | €67,052 | €68,982 | +€1,930 | +2.9% |
| Fixed assets | 21/28 | €56,484 | €54,621 | -€1,863 | -3.3% |
| Tangible fixed assets | 22/27 | €56,360 | €54,497 | -€1,863 | -3.3% |
| Land and buildings | 22 | €56,360 | €54,497 | -€1,863 | -3.3% |
| Financial fixed assets | 28 | €124 | €124 | = | 0.0% |
| Current assets | 29/58 | €10,568 | €14,361 | +€3,793 | +35.9% |
| Amounts receivable within one year | 40/41 | €7,321 | €10,971 | +€3,650 | +49.9% |
| Other amounts receivable | 41 | €7,321 | €10,971 | +€3,650 | +49.9% |
| Cash at bank and in hand | 54/58 | €34 | €164 | +€130 | +384% |
| Deferred charges and accrued income | 490/1 | €3,212 | €3,225 | +€13 | +0.4% |
| Total equity and liabilities | 10/49 | €67,052 | €68,982 | +€1,930 | +2.9% |
| Equity | 10/15 | €47,463 | €49,198 | +€1,735 | +3.7% |
| Contributions | 10/11 | €43,381 | €43,381 | = | 0.0% |
| Reserves | 13 | €4,082 | €5,817 | +€1,735 | +42.5% |
| Distributable reserves | 133 | €4,082 | €5,817 | +€1,735 | +42.5% |
| Amounts payable | 17/49 | €19,589 | €19,783 | +€195 | +1.0% |
| Amounts payable after more than one year | 17 | €19,589 | €19,589 | = | 0.0% |
| Other amounts payable | 178/9 | €19,589 | €19,589 | = | 0.0% |
| Amounts payable within one year | 42/48 | - | €195 | +€195 | |
| Trade debts | 44 | - | €50 | +€50 | |
| Suppliers | 440/4 | - | €50 | +€50 | |
| Taxes, remuneration and social security | 45 | - | €145 | +€145 | |
| Taxes | 450/3 | - | €145 | +€145 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,954 | €1,863 | -€1,091 | -36.9% |
| Other operating charges | 640/8 | €2,778 | €2,194 | -€585 | -21.0% |
| Gross operating margin | 9900 | €4,531 | €6,028 | +€1,497 | +33.0% |
| Operating profit (loss) | 9901 | -€1,202 | €1,971 | +€3,173 | |
| Financial charges | 65/66B | - | €91 | +€91 | |
| Recurring financial charges | 65 | - | €91 | +€91 | |
| Profit (loss) for the period before taxes | 9903 | -€1,202 | €1,880 | +€3,082 | |
| Income taxes | 67/77 | - | €145 | +€145 | |
| Profit (loss) for the period | 9904 | -€1,202 | €1,735 | +€2,937 | |
| Profit (loss) for the period to be appropriated | 9905 | -€1,202 | €1,735 | +€2,937 |
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 23 October 2026 via checked.be.