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ALTERAAR

Active Risk: not assessed
Private limited companyfounded 2017active for 9 yearsElststraat 112, 3020 Herent, BelgiumKBO/BCE: BE 0682.439.342

Financials · financial year 2025, abbreviated format

Annual accounts 2025 filed on 23-04-2026 PDF all 8 filings

Equity
€54,298▼ 78.8%
2024 · €256,257
Net result
€444,891▼ 46.7%
2024 · €835,226
Total assets
€691,381▼ 45.9%
2024 · €1.3m
Solvency
7.9%▼ 12.2pp
2024 · 20.0%
Trend over the years

2021 to 2025, 5 financial years 2018 to 2025, 8 financial years

The operating result for 2025 is 46% lower than in 2024 and the lowest since 2021.

Turnover€1.2m 2019 Operating result€0.5m 2025 Net result€0.4m 2025

Turnover is what the company sold, the result is what was left of it. A loss stands below the zero line.

Use the arrow keys on the chart for the figures per year.

The sector band is the middle half of the companies in Activities auxiliary to financial services and insurance activities (NACE 66). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30. The dashed line is the median. There is a sector band for net result, equity, total assets, working capital, solvency, current ratio, return on assets (ROA) and staff (FTE).

Every figure with its change against the financial year before
favourable unfavourable
Line20182019202020212022202320242025
Turnover€1.1m-€1.2m▲ 9.1%
Operating result€0.4m-€0.3m▼ 34.4%€0.4m▲ 49.4%€0.6m▲ 61.8%€0.8m▲ 21.8%€0.8m▲ 1.1%€0.8m▲ 6.9%€0.5m▼ 46.5%
Net result€0.4m-€0.2m▼ 41.9%€0.4mabove the sector's middle half▲ 70.9%€0.6mabove the sector's middle half▲ 61.3%€0.8mabove the sector's middle half▲ 22.5%€0.8mabove the sector's middle half▲ 1.4%€0.8mabove the sector's middle half▲ 9.1%€0.4mabove the sector's middle half▼ 46.7%
Equity€0.04m-€0.1m▲ 195%€0.1mwithin the sector's middle half▲ 23.2%€0.2mwithin the sector's middle half▲ 29.8%€0.2mwithin the sector's middle half▲ 20.5%€0.3mwithin the sector's middle half▲ 15.6%€0.3mwithin the sector's middle half▲ 2.4%€0.05mbelow the sector's middle half▼ 78.8%
Total assets€0.5m-€0.4m▼ 20.9%€0.6mwithin the sector's middle half▲ 49.6%€0.9mwithin the sector's middle half▲ 55.3%€1.1mwithin the sector's middle half▲ 20.2%€1.2mwithin the sector's middle half▲ 5.1%€1.3mwithin the sector's middle half▲ 11.0%€0.7mwithin the sector's middle half▼ 45.9%
Debt€0.5m-€0.3m▼ 38.8%€0.4m▲ 60.2%€0.7m▲ 63.2%€0.9m▲ 20.2%€0.9m▲ 2.5%€1.0m▲ 13.4%€0.6m▼ 37.7%
Working capital€0.04m-€0.1m▲ 268%€0.2mwithin the sector's middle half▲ 23.6%€0.2mwithin the sector's middle half▲ 26.0%€0.3mwithin the sector's middle half▲ 17.8%€0.3mwithin the sector's middle half▲ 14.5%€0.3mwithin the sector's middle half▲ 3.1%€0.1mwithin the sector's middle half▼ 67.6%
Solvency7.7%-28.6%▲ 20.9pp23.6%within the sector's middle half▼ 5.0pp19.7%within the sector's middle half▼ 3.9pp19.7%within the sector's middle half=21.7%within the sector's middle half▲ 2.0pp20.0%within the sector's middle half▼ 1.7pp7.9%below the sector's middle half▼ 12.2pp
Current ratio1.08-1.55▲ 0.471.41within the sector's middle half▼ 0.141.31within the sector's middle half▼ 0.101.30within the sector's middle half▼ 0.011.34within the sector's middle half▲ 0.041.30within the sector's middle half▼ 0.031.16within the sector's middle half▼ 0.14
Return on assets (ROA)77.6%-57.0%▼ 20.6pp65.1%above the sector's middle half▲ 8.1pp67.7%above the sector's middle half▲ 2.5pp68.9%above the sector's middle half▲ 1.3pp66.5%above the sector's middle half▼ 2.4pp65.3%above the sector's middle half▼ 1.2pp64.3%above the sector's middle half▼ 1.0pp
Staff (FTE)7.2-6.2▼ 13.9%5.8within the sector's middle half▼ 6.5%7.3above the sector's middle half▲ 25.9%9.7above the sector's middle half▲ 32.9%9.5above the sector's middle half▼ 2.1%9.6above the sector's middle half▲ 1.1%9.6above the sector's middle half=
above within below The sector band is the middle half of the companies in Activities auxiliary to financial services and insurance activities (NACE 66). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €691,381
Fixed assets €13,375 ▲ 26.0%
Current assets €678,006 ▼ 46.5%
Equity and liabilities €691,381
Equity €54,298 ▼ 78.8%
Debt €637,083 ▼ 37.7%
Debt's share of the balance-sheet total rises from 80.0% to 92.1%. Equity and debt are lower.
Key figures and ratios
2025 value · change against 2024
ROE
819.4%▲
2024 · 325.9%
Debt ≤ 1 year
€582,109▼
2024 · €972,233
Income taxes
€10,766▼
2024 · €14,030
Staff costs
€800,501▲
2024 · €781,535
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.

Staff

social balance sheet
Item31-12-202131-12-202231-12-202331-12-202431-12-2025
Employees at the balance-sheet date1011111111
full-time67676
part-time44545
in full-time equivalents8.69.79.59.79.5
Average over the year, in full-time equivalents7.38.99.59.69.6
On a permanent contract1011111111
Joined41---
Left10---

Source: social balance sheet in the 2021 to 2025 annual accounts

Investments

fixed assets acquired
Item20212022202320242025
Tangible fixed assets€13,040€4,154€3,135€1,599€8,226
Depreciation and write-downs of the year€3,282€5,150€5,698€4,282€5,462

Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)

Subsidies and aid

Flemish government

2022 to 2023 · 2 entries · €338 awarded · €338 paid
Year Entries AwardedPaid
2023 1 €284€284
2022 1 €54€54
Schemes
2 entries · €338 · €338 paid · Fonds voor Innoveren en Ondernemen
Annual accounts
Filed annual accounts As filed with the NBB · 2025 against 2024 · 46 lines
Balance sheet Code20242025
Assets
Total assets20/58€1.3m€0.7m▼
Fixed assets21/28€0.01m€0.01m▲
Tangible fixed assets22/27€0.01m€0.01m▲
Land and buildings22€0.001m€0.001m▼
Plant, machinery and equipment23€178€0.004m▲
Furniture and vehicles24€0.01m€0.009m▼
Current assets29/58€1.3m€0.7m▼
Amounts receivable within one year40/41€0.006m€0.008m▲
Other amounts receivable41€0.006m€0.008m▲
Current investments50/53€0.2m€54▼
Cash at bank and in hand54/58€0.9m€0.5m▼
Deferred charges and accrued income490/1€0.2m€0.2m▲
Equity and liabilities
Total equity and liabilities10/49€1.3m€0.7m▼
Equity10/15€0.3m€0.05m▼
Contributions10/11€0.006m€0.006m=
Reserves13€0.2m€0.05m▼
Distributable reserves133€0.2m€0.05m▼
Amounts payable17/49€1.0m€0.6m▼
Amounts payable within one year42/48€1.0m€0.6m▼
Trade debts44€0.06m€0.04m▼
Suppliers440/4€0.06m€0.04m▼
Taxes, remuneration and social security45€0.08m€0.09m▲
Remuneration and social security454/9€0.08m€0.09m▲
Other amounts payable47/48€0.8m€0.4m▼
Accrued charges and deferred income492/3€0.05m€0.05m▲
Income statement Code20242025
Remuneration, social security and pensions62€0.8m€0.8m▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€0.004m€0.005m▲
Other operating charges640/8€0.003m€0.003m▼
Gross operating margin9900€1.6m€1.3m▼
Operating profit (loss)9901€0.8m€0.5m▼
Financial income75/76B€0.01m€0.01m▼
Recurring financial income75€0.01m€0.01m▼
Financial charges65/66B€0.008m€0.007m▼
Recurring financial charges65€0.008m€0.007m▼
Profit (loss) for the period before taxes9903€0.8m€0.5m▼
Income taxes67/77€0.01m€0.01m▼
Profit (loss) for the period9904€0.8m€0.4m▼
Profit (loss) for the period to be appropriated9905€0.8m€0.4m▼
Appropriation of the result
Profit (loss) to be appropriated9906€0.8m€0.4m▼
Transfer from equity791/2-€0.2m
Transfer to equity691/2€0.006m€0.002m▼
To other reserves6921€0.006m€0.002m▼
Profit to be distributed694/7€0.8m€0.6m▼
Return on contributions (dividend)694-€0.2m
Directors or managers695€0.8m€0.4m▼
Social balance sheet
Average headcount (FTE)90879.69.6=

The notes to these accounts have 5 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the filed accounts (PDF).

Source: Annual accounts 2025 (PDF), filed on 23-04-2026.

Line20182019202020212022202320242025Change
Turnover70€1.1m€1.2m-------
Remuneration, social security and pensions62---€0.5m€0.6m€0.8m€0.8m€0.8m▲ 2.4%
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€337€0.002m€0.002m€0.003m€0.005m€0.006m€0.004m€0.005m▲ 27.6%
Other operating charges640/8---€0.002m€0.002m€0.003m€0.003m€0.003m▼ 4.3%
Gross operating margin9900€0.8m€0.6m€0.7m€1.1m€1.4m€1.6m€1.6m€1.3m▼ 22.8%
Operating profit (loss)9901€0.4m€0.3m€0.4m€0.6m€0.8m€0.8m€0.8m€0.5m▼ 46.5%
Financial income75/76B---€11€5€0.003m€0.01m€0.01m▼ 16.7%
Recurring financial income75€1-€0€11€5€0.003m€0.01m€0.01m▼ 16.7%
Financial charges65/66B---€0.004m€0.007m€0.005m€0.008m€0.007m▼ 10.8%
Recurring financial charges65€327€0.001m€0.002m€0.004m€0.007m€0.005m€0.008m€0.007m▼ 10.8%
Profit (loss) for the period before taxes9903€0.4m€0.3m€0.4m€0.6m€0.8m€0.8m€0.8m€0.5m▼ 46.3%
Income taxes67/77€0.02m€0.04m€0.01m€0.02m€0.02m€0.02m€0.01m€0.01m▼ 23.3%
Profit (loss) for the period9904€0.4m€0.2m€0.4m€0.6m€0.8m€0.8m€0.8m€0.4m▼ 46.7%
Profit (loss) for the period to be appropriated9905€0.4m€0.2m€0.4m€0.6m€0.8m€0.8m€0.8m€0.4m▼ 46.7%
Line20182019202020212022202320242025Change
Assets
Total assets20/58€0.5m€0.4m€0.6m€0.9m€1.1m€1.2m€1.3m€0.7m▼ 45.9%
Fixed assets21/28€0.001m€0.006m€0.007m€0.02m€0.02m€0.01m€0.01m€0.01m▲ 26.0%
Tangible fixed assets22/27€0.001m€0.006m€0.007m€0.02m€0.02m€0.01m€0.01m€0.01m▲ 26.0%
Land and buildings22---€0.001m€0.001m€0.001m€0.001m€0.001m▼ 16.7%
Plant, machinery and equipment23---€0.001m€0.001m€0.001m€178€0.004m▲ 22×
Furniture and vehicles24---€0.01m€0.01m€0.01m€0.01m€0.009m▼ 9.5%
Current assets29/58€0.5m€0.4m€0.6m€0.9m€1.1m€1.1m€1.3m€0.7m▼ 46.5%
Amounts receivable within one year40/41--€0.003m€0.001m€0.003m€0.002m€0.006m€0.008m▲ 34.2%
Other amounts receivable41---€0.001m€0.003m€0.002m€0.006m€0.008m▲ 34.2%
Current investments50/53-€0.09m€0.1m€0.1m€0.2m€0.2m€0.2m€54▼ 100.0%
Cash at bank and in hand54/58€0.4m€0.2m€0.4m€0.6m€0.7m€0.7m€0.9m€0.5m▼ 46.3%
Deferred charges and accrued income490/1---€0.2m€0.2m€0.2m€0.2m€0.2m▲ 27.4%
Equity and liabilities
Total equity and liabilities10/49€0.5m€0.4m€0.6m€0.9m€1.1m€1.2m€1.3m€0.7m▼ 45.9%
Equity10/15€0.04m€0.1m€0.1m€0.2m€0.2m€0.3m€0.3m€0.05m▼ 78.8%
Contributions10/11€0.006m€0.006m-€0.006m€0.006m€0.006m€0.006m€0.006m=
Reserves13€0.03m€0.1m€0.1m€0.2m€0.2m€0.2m€0.2m€0.05m▼ 80.8%
Distributable reserves133---€0.2m€0.2m€0.2m€0.2m€0.05m▼ 80.8%
Amounts payable17/49€0.5m€0.3m€0.4m€0.7m€0.9m€0.9m€1.0m€0.6m▼ 37.7%
Amounts payable within one year42/48€0.5m€0.3m€0.4m€0.7m€0.8m€0.9m€1.0m€0.6m▼ 40.1%
Trade debts44€0.04m€0.02m€0.01m€0.05m€0.04m€0.04m€0.06m€0.04m▼ 27.7%
Suppliers440/4---€0.05m€0.04m€0.04m€0.06m€0.04m▼ 27.7%
Taxes, remuneration and social security45---€0.06m€0.07m€0.08m€0.08m€0.09m▲ 16.6%
Taxes450/3-----€0.001m---
Remuneration and social security454/9---€0.06m€0.07m€0.08m€0.08m€0.09m▲ 16.6%
Other amounts payable47/48---€0.6m€0.7m€0.7m€0.8m€0.4m▼ 46.6%
Accrued charges and deferred income492/3---€0.05m€0.05m€0.05m€0.05m€0.05m▲ 9.9%
Line20182019202020212022202320242025Change
Profit (loss) for the period9904€384,802€223,667€382,167€616,575€755,337€765,833€835,226€444,891▼ 46.7%
+ Depreciation and write-downs630€337€1,603€1,781€3,282€5,150€5,698€4,282€5,462▲ 27.6%
Operating cash flow (approximation)€385,139€225,270€383,948€619,857€760,487€771,530€839,508€450,353▼ 46.4%
Investment in fixed assets (approximation)--€6,330-€3,138-€13,040-€4,154-€3,135-€1,599-€8,226▼ 414%
Change in cash--€198,297€163,550€216,969€153,200€3,465€116,656-€397,360-

A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.

Download as CSV

Filings with the National Bank (8)
Financial year Type Filed Reference Document
31-12-2025 abbreviated format 23-04-2026 2026-00087322 PDF
31-12-2024 abbreviated format 16-05-2025 2025-00098394 PDF
31-12-2023 abbreviated format 23-05-2024 2024-00095694 PDF
31-12-2022 abbreviated format 24-05-2023 2023-00094516 PDF
31-12-2021 abbreviated format 30-05-2022 2022-20042521 PDF
31-12-2020 abbreviated format 31-05-2021 2021-16000497 PDF
31-12-2019 abbreviated format 28-05-2020 2020-13300520 PDF
31-12-2018 abbreviated format 03-06-2019 2019-15300297 PDF

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