BF3 ALPHA: 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.
BF3 ALPHA
Largest movements
- Cash +€436,166
up €436,166 (+301%), from €144,957 to €581,123
mainly Debts after one year (+€2.0m) and Smaller working-capital items (+€3,276)
- Receivables within one year +€346,287
up €346,287 (+3.7%), from €9.4m to €9.8m
- Debts after one year +€2.0m
up €2.0m (+36.6%), from €5.5m to €7.5m
- Profit (loss) carried forward -€708,727
down €708,727 (-37.7%), from -€1.9m to -€2.6m
- Short-term financial debts -€500,000
down €500,000 (-2.9%), from €17.3m to €16.8m
- Financial charges -€44,176
down €44,176 (-6.0%), from €736,755 to €692,578
- Gross operating margin -€8,579
down €8,579 (-5.4%), from €158,379 to €149,799
- Other operating charges +€1,675
up €1,675 (+1.0%), from €164,274 to €165,949
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.
Derived cash bridge
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 | €21,218,279 | €22,015,010 | +€796,730 | +3.8% |
| Current assets | 29/58 | €21,218,279 | €22,015,010 | +€796,730 | +3.8% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Stocks and contracts in progress | 3 | €11,620,465 | €11,620,465 | = | 0.0% |
| Stocks | 30/36 | €11,620,465 | €11,620,465 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €9,421,828 | €9,768,115 | +€346,287 | +3.7% |
| Other amounts receivable | 41 | €9,421,828 | €9,768,115 | +€346,287 | +3.7% |
| Cash at bank and in hand | 54/58 | €144,957 | €581,123 | +€436,166 | +301% |
| Deferred charges and accrued income | 490/1 | €31,029 | €45,306 | +€14,277 | +46.0% |
| Total equity and liabilities | 10/49 | €21,218,279 | €22,015,010 | +€796,730 | +3.8% |
| Equity | 10/15 | -€1,808,676 | -€2,517,403 | -€708,727 | -39.2% |
| Contributions | 10/11 | €69,000 | €69,000 | = | 0.0% |
| Capital | 10 | €69,000 | €69,000 | = | 0.0% |
| Issued capital | 100 | €69,000 | €69,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,877,676 | -€2,586,403 | -€708,727 | -37.7% |
| Amounts payable | 17/49 | €23,026,956 | €24,532,413 | +€1.5m | +6.5% |
| Amounts payable after more than one year | 17 | €5,474,503 | €7,476,685 | +€2.0m | +36.6% |
| Financial debts | 170/4 | €5,474,503 | €7,476,685 | +€2.0m | +36.6% |
| Amounts payable within one year | 42/48 | €17,490,562 | €16,991,385 | -€499,178 | -2.9% |
| Financial debts | 43 | €17,325,000 | €16,825,000 | -€500,000 | -2.9% |
| Credit institutions | 430/8 | €17,325,000 | €16,825,000 | -€500,000 | -2.9% |
| Trade debts | 44 | €165,562 | €166,385 | +€822 | +0.5% |
| Suppliers | 440/4 | €165,562 | €166,385 | +€822 | +0.5% |
| Accrued charges and deferred income | 492/3 | €61,890 | €64,343 | +€2,453 | +4.0% |
| Other operating charges | 640/8 | €164,274 | €165,949 | +€1,675 | +1.0% |
| Gross operating margin | 9900 | €158,379 | €149,799 | -€8,579 | -5.4% |
| Operating profit (loss) | 9901 | -€5,895 | -€16,149 | -€10,254 | -174% |
| Financial charges | 65/66B | €736,755 | €692,578 | -€44,176 | -6.0% |
| Recurring financial charges | 65 | €736,755 | €692,578 | -€44,176 | -6.0% |
| Profit (loss) for the period before taxes | 9903 | -€742,650 | -€708,727 | +€33,922 | +4.6% |
| Profit (loss) for the period | 9904 | -€742,650 | -€708,727 | +€33,922 | +4.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€742,650 | -€708,727 | +€33,922 | +4.6% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.