ALTER
ActiveSummary
ALTER has been active since 2015 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €100,895 and a net result of €744. Equity remains stable across the filed fiscal years (±2.1% per year). Its solvency ranks better than 24% of 9511 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability60▼-10
Solvency49▼-18
Growth32▼-20
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €7,000 at 30 days acceptable
Liquidity ample (current ratio 5.34 against 1.72 in 2024; short-term debt: 7.7% and cash: 31.4% of total assets), but 76.5% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 71
Relative position
BE, all sectors
reference
Architectural and engineering activities; technical testing and analysis (NACE 71)
about 56% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 24% of 9511 sector peers (2025).
NBB · sector comparisonPosition among 9511 sector peers
Solvency
better than 24%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 31-03-2025 was due by 31-10-2025 and was filed on 30-10-2025, 1 day ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
1 d early
2024
1 d early
2023
1 d early
2022
3 d late
2021
4 d early
2020
30 d late
2019
18 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 6 days after the deadline; the sector median for financial year 2024 is 8 days before the deadline, and 33% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-03-2026 and is due by 31-10-2026. Nothing is late today.
Companies Code · seven monthsPosition in the running window
31-03-2026 close26-09-2026 today31-10-2026 deadline
History
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Financials · fiscal year 2025, micro schema
In the rankings
#8 oldest company in Modave, Professional and technical services sector#9 company by total assets in Modave, Professional and technical services sector#10 company by equity in Modave, Professional and technical services sector
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€744▼ 87.9%
2024 · €6,152
Working capital
€143,620▲ 52.8%
2024 · €94,023
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€63,436▼ 1.1%€111,969▲ 76.5%€91,165▼ 18.6%€20,885▼ 77.1%€14,902▼ 28.6%
Net result€47,123▲ 1.9%€88,973▲ 88.8%€67,818▼ 23.8%€6,152▼ 90.9%€744▼ 87.9%
Equity€229,854▲ 25.8%€327,630▲ 42.5%€194,958▼ 40.5%€200,619▲ 2.9%€100,895▼ 49.7%
Total assets€451,083▼ 0.7%€531,951▲ 17.9%€491,128▼ 7.7%€474,356▼ 3.4%€429,229▼ 9.5%
Debt€221,228▼ 18.5%€204,321▼ 7.6%€296,170▲ 45.0%€273,737▼ 7.6%€328,335▲ 19.9%
Working capital€175,986▲ 34.8%€260,409▲ 48.0%€85,278▼ 67.3%€94,023▲ 10.3%€143,620▲ 52.8%
Staff (FTE)1=
Result per fiscal year
Operating resultNet result
The operating result has fallen three years in a row; 2025 is 29% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €429,229
Fixed assets
€252,546 ▲ 1.3%
Current assets
€176,683 ▼ 21.5%
Equity and liabilities €429,229
Equity
€100,895 ▼ 49.7%
Debt
€328,335 ▲ 19.9%
Debt's share of the balance-sheet total rises from 57.7% to 76.5%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€61,353▼
2024 · €66,408
Cash flow
€47,195▼
2024 · €51,675
Current ratio
5.34▲
2024 · 1.72
Debt to equity
3.25▲
2024 · 1.36
ROE
0.7%▼
2024 · 3.1%
ROA
0.2%▼
2024 · 1.3%
Interest coverage
4.95▼
2024 · 7.07
Debt ≤ 1 year
€33,063▼
2024 · €130,956
Debt > 1 year
€285,710▲
2024 · €136,123
Income taxes
€3,010▼
2024 · €6,294
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | €968 | - |
| Remuneration, social security and pensions62 | - | -€289 | €0 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €17,608 | €18,372 | €39,067 | €45,523 | €46,451 | ▲ 2.0% |
| Other operating charges640/8 | - | €2,795 | €8,792 | €11,704 | €4,771 | ▼ 59.2% |
| Gross operating margin9900 | €111,282 | €132,847 | €139,024 | €78,112 | €66,125 | ▼ 15.3% |
| Operating profit (loss)9901 | €63,436 | €111,969 | €91,165 | €20,885 | €14,902 | ▼ 28.6% |
| Financial income75/76B | - | €3,139 | €491 | €956 | €1,258 | ▲ 31.7% |
| Recurring financial income75 | - | €3,139 | €491 | €956 | €1,258 | ▲ 31.7% |
| Financial charges65/66B | - | €3,133 | €2,929 | €9,395 | €12,407 | ▲ 32.1% |
| Recurring financial charges65 | €3,423 | €3,133 | €2,929 | €9,395 | €12,407 | ▲ 32.1% |
| Profit (loss) for the period before taxes9903 | €60,013 | €111,974 | €88,726 | €12,446 | €3,754 | ▼ 69.8% |
| Income taxes67/77 | €12,891 | €23,001 | €20,908 | €6,294 | €3,010 | ▼ 52.2% |
| Profit (loss) for the period9904 | €47,123 | €88,973 | €67,818 | €6,152 | €744 | ▼ 87.9% |
| Profit (loss) for the period to be appropriated9905 | €47,123 | €88,973 | €67,818 | €6,152 | €744 | ▼ 87.9% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €451,083 | €531,951 | €491,128 | €474,356 | €429,229 | ▼ 9.5% |
| Fixed assets21/28 | €249,530 | €243,313 | €265,931 | €249,377 | €252,546 | ▲ 1.3% |
| Tangible fixed assets22/27 | €249,530 | €243,313 | €265,931 | €249,377 | €252,546 | ▲ 1.3% |
| Land and buildings22 | - | €229,111 | €213,548 | €197,985 | €226,116 | ▲ 14.2% |
| Plant, machinery and equipment23 | - | €585 | €293 | €0 | €2,462 | - |
| Furniture and vehicles24 | - | €11,371 | €50,553 | €49,586 | €22,735 | ▼ 54.2% |
| Other tangible fixed assets26 | - | €2,246 | €1,537 | €1,805 | €1,234 | ▼ 31.6% |
| Current assets29/58 | €201,553 | €288,638 | €225,197 | €224,979 | €176,683 | ▼ 21.5% |
| Amounts receivable within one year40/41 | €82,828 | €74,566 | €29,540 | €62,300 | €40,600 | ▼ 34.8% |
| Trade receivables40 | - | €19,379 | €29,373 | €48,454 | €33,368 | ▼ 31.1% |
| Other amounts receivable41 | - | €55,187 | €168 | €13,846 | €7,232 | ▼ 47.8% |
| Cash at bank and in hand54/58 | €117,956 | €213,279 | €193,673 | €161,738 | €134,772 | ▼ 16.7% |
| Deferred charges and accrued income490/1 | - | €794 | €1,983 | €941 | €1,311 | ▲ 39.3% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €451,083 | €531,951 | €491,128 | €474,356 | €429,229 | ▼ 9.5% |
| Equity10/15 | €229,854 | €327,630 | €194,958 | €200,619 | €100,895 | ▼ 49.7% |
| Contributions10/11 | - | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Non-distributable reserves130/1 | - | €1,860 | €1,860 | €0 | - | - |
| Reserves not available under the articles1311 | - | €1,860 | €1,860 | €0 | - | - |
| Distributable reserves133 | - | - | - | €1,860 | €1,860 | = |
| Profit (loss) carried forward14 | €209,394 | €298,368 | €166,186 | €172,337 | €73,081 | ▼ 57.6% |
| Investment grants15 | - | €8,803 | €8,312 | €7,822 | €7,354 | ▼ 6.0% |
| Amounts payable17/49 | €221,228 | €204,321 | €296,170 | €273,737 | €328,335 | ▲ 19.9% |
| Amounts payable after more than one year17 | €195,661 | €176,092 | €156,251 | €136,123 | €285,710 | ▲ 110% |
| Financial debts170/4 | - | €176,092 | €156,251 | €136,123 | €285,710 | ▲ 110% |
| Amounts payable within one year42/48 | €25,567 | €28,229 | €139,919 | €130,956 | €33,063 | ▼ 74.8% |
| Current portion of amounts payable after more than one year42 | - | €19,569 | €19,841 | €20,128 | €20,414 | ▲ 1.4% |
| Trade debts44 | €909 | €4,174 | €7,206 | €1,872 | €4,804 | ▲ 157% |
| Suppliers440/4 | - | €4,174 | €7,206 | €1,872 | €4,804 | ▲ 157% |
| Taxes, remuneration and social security45 | - | €1,890 | €6,198 | €6,172 | €2,061 | ▼ 66.6% |
| Taxes450/3 | - | €1,890 | €6,198 | €4,416 | €2,061 | ▼ 53.3% |
| Remuneration and social security454/9 | - | - | - | €1,756 | €0 | ▼ 100% |
| Other amounts payable47/48 | - | €2,596 | €106,674 | €102,784 | €5,784 | ▼ 94.4% |
| Accrued charges and deferred income492/3 | - | - | - | €6,658 | €9,562 | ▲ 43.6% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €47,123 | €88,973 | €67,818 | €6,152 | €744 | ▼ 87.9% |
| + Depreciation and write-downs630 | €17,608 | €18,372 | €39,067 | €45,523 | €46,451 | ▲ 2.0% |
| Operating cash flow (approximation) | €64,731 | €107,345 | €106,885 | €51,675 | €47,195 | ▼ 8.7% |
| Investment in fixed assets (approximation) | - | -€12,155 | -€61,685 | -€28,969 | -€49,620 | ▼ 71.3% |
| Change in cash | - | €95,322 | -€19,606 | -€31,935 | -€26,966 | ▲ 15.6% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2025
30-10
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
31-03
Financial
Weakest financial yearnet €744 ▼87.9%
Net result drops to €744, the lowest in the series.
31-03
Financial
Liquidity triplescurrent ratio 5.34
Current ratio from 1.72 to 5.34; short-term debt falls from €130,956 to €33,063.
2024
30-10
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
31-03
Financial
Equity above €200,000Eq €200,619 ▲2.9%
6 profitable years in a row build equity to €200,619.
2023
30-10
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2022
03-11
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 3 days late
31-03
Financial
Highest result since 2019net €88,973 ▲88.8%
Operating result €111,969, net result €88,973, both a record.
2021
27-10
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
31-03
Financial
Liquidity doublescurrent ratio 7.88
Current ratio from 3.31 to 7.88; short-term debt falls from €56,605 to €25,567.
31-03
Financial
Equity above €200,000Eq €229,854 ▲25.8%
3 profitable years in a row build equity to €229,854.
2020
30-11
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 30 days late
Show earlier events
31-03
Financial
Equity above €150,000Eq €182,731 ▲33.9%
2 profitable years in a row build equity to €182,731.
2019
18-11
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 18 days late
2018
26-10
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2017
31-10
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2016
04-11
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 4 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
3 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Modave · 1 establishment unit since 2015
Ground area
282 m²
Building footprint
100 m²
Volume, LiDAR
750 m³
Parcel 61049B0019/00E000, Wallonia · tallest building 12.8 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
ALTER
since 20152.248.180.777
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 61049B0019/00E000 | Wallonia | 282 m² | 1 · 100 m² | 12.8 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 11,571 companies in sector 71121 we hold annual accounts for 6,563. 5,228 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded27-05-2015
Fiscal year end31-03
Activities, NACEBEL 2025
71121Engineering and related technical consultancy, excluding land surveyors
68203Renting and operating of own or leased non-residential real estate, excluding land
70200Business and other management consultancy
Scores and ratios are computed by Checked and are not a credit decision.