AALTER INVEST: 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.
What changed
AALTER INVEST
NACE 77.320, Rental and leasing activities
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€216,572
2024 · €63,481+€153,091
Equity
€2.8m
2024 · €2.5m+€216,572
Cash
€41,023
2024 · €74,276-€33,253
Balance sheet total
€7.5m
2024 · €4.8m+€2.7m
Largest movements
Assets
- Tangible fixed assets +€2.5m
up €2.5m (+53.7%), from €4.7m to €7.2m
of which Leasing and similar rights: +€2.6m
- Receivables within one year +€187,202
up €187,202 (+287%), from €65,148 to €252,351
of which Trade receivables: +€169,885
Equity and liabilities
- Debts after one year +€2.4m
up €2.4m (+149%), from €1.6m to €4.0m
- Other debts -€230,000
down €230,000 (-82.1%), from €280,000 to €50,000
- Reserves +€216,572
up €216,572 (+117%), from €184,784 to €401,356
of which Distributable reserves: +€205,743
- Current portion of long-term debt +€117,685
up €117,685 (+33.6%), from €350,750 to €468,435
- Trade debts +€84,190
up €84,190 (+423%), from €19,892 to €104,081
Income statement
- Other operating income -€121,902
down €121,902 (-15.9%), from €768,289 to €646,387
- Financial charges +€44,960
up €44,960 (+51.1%), from €88,010 to €132,970
- Services and other goods +€38,848
up €38,848 (+25.9%), from €149,731 to €188,580
- Taxes +€34,244
up €34,244 (+139%), from €24,563 to €58,807
of which Taxes: +€49,487
- Depreciation -€20,900
down €20,900 (-5.0%), from €420,788 to €399,888
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.
Result 2024
€63,481
Turnover
+€7,984
Other operating income
-€121,902
Services and other goods
-€38,848
Depreciation
+€20,900
Other operating charges
+€8,421
Other operating items
+€355,375
Financial income
+€365
Financial charges
-€44,960
Taxes
-€34,244
Result 2025
€216,572
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€340,446
Investment
-€2.9m
Financing
+€2.5m
Cash 2024
€74,276
From operations (derived)
+€340,446
Net result for the year
+€216,572
Depreciation
+€399,888
Receivables within one year
-€187,202
Deferred charges and accrued income
+€241
Trade debts
+€84,190
Tax, wage and social debts
+€56,757
Other debts
-€230,000
Investment (derived)
-€2.9m
Investment in fixed assets (net)
-€2.9m
Financing
+€2.5m
Debts after one year
+€2.4m
Current portion of long-term debt
+€117,685
Cash 2025
€41,023
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,833,323 | €7,500,998 | +€2.7m | +55.2% |
| Fixed assets | 21/28 | €4,691,411 | €7,205,379 | +€2.5m | +53.6% |
| Tangible fixed assets | 22/27 | €4,687,898 | €7,204,366 | +€2.5m | +53.7% |
| Land and buildings | 22 | €542,836 | €495,183 | -€47,653 | -8.8% |
| Plant, machinery and equipment | 23 | €157,557 | €139,972 | -€17,585 | -11.2% |
| Furniture and vehicles | 24 | €3,623 | €2,231 | -€1,392 | -38.4% |
| Leasing and similar rights | 25 | €2,023,224 | €4,606,322 | +€2.6m | +128% |
| Other tangible fixed assets | 26 | €1,960,658 | €1,960,658 | = | 0.0% |
| Financial fixed assets | 28 | €3,513 | €1,013 | -€2,500 | -71.2% |
| Other financial fixed assets | 284/8 | €3,513 | €1,013 | -€2,500 | -71.2% |
| Amounts receivable and cash guarantees | 285/8 | €3,513 | €1,013 | -€2,500 | -71.2% |
| Current assets | 29/58 | €141,912 | €295,619 | +€153,708 | +108% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €65,148 | €252,351 | +€187,202 | +287% |
| Trade receivables | 40 | €37,848 | €207,733 | +€169,885 | +449% |
| Other amounts receivable | 41 | €27,300 | €44,618 | +€17,318 | +63.4% |
| Cash at bank and in hand | 54/58 | €74,276 | €41,023 | -€33,253 | -44.8% |
| Deferred charges and accrued income | 490/1 | €2,488 | €2,246 | -€241 | -9.7% |
| Total equity and liabilities | 10/49 | €4,833,323 | €7,500,998 | +€2.7m | +55.2% |
| Equity | 10/15 | €2,536,966 | €2,753,537 | +€216,572 | +8.5% |
| Contributions | 10/11 | €2,071,565 | €2,071,565 | = | 0.0% |
| Capital | 10 | €2,071,565 | €2,071,565 | = | 0.0% |
| Issued capital | 100 | €2,071,565 | €2,071,565 | = | 0.0% |
| Revaluation surpluses | 12 | €280,616 | €280,616 | = | 0.0% |
| Reserves | 13 | €184,784 | €401,356 | +€216,572 | +117% |
| Non-distributable reserves | 130/1 | €77,898 | €88,727 | +€10,829 | +13.9% |
| Legal reserve | 130 | €77,898 | €88,727 | +€10,829 | +13.9% |
| Distributable reserves | 133 | €106,886 | €312,629 | +€205,743 | +192% |
| Amounts payable | 17/49 | €2,296,357 | €4,747,461 | +€2.5m | +107% |
| Amounts payable after more than one year | 17 | €1,623,216 | €4,045,688 | +€2.4m | +149% |
| Financial debts | 170/4 | €1,623,216 | €4,045,688 | +€2.4m | +149% |
| Leasing and similar obligations | 172 | €1,623,216 | €4,045,688 | +€2.4m | +149% |
| Amounts payable within one year | 42/48 | €673,142 | €701,773 | +€28,632 | +4.3% |
| Current portion of amounts payable after more than one year | 42 | €350,750 | €468,435 | +€117,685 | +33.6% |
| Trade debts | 44 | €19,892 | €104,081 | +€84,190 | +423% |
| Suppliers | 440/4 | €19,892 | €104,081 | +€84,190 | +423% |
| Taxes, remuneration and social security | 45 | €22,500 | €79,257 | +€56,757 | +252% |
| Taxes | 450/3 | €22,500 | €79,257 | +€56,757 | +252% |
| Other amounts payable | 47/48 | €280,000 | €50,000 | -€230,000 | -82.1% |
| Operating income | 70/76A | €795,339 | €1,036,796 | +€241,457 | +30.4% |
| Turnover | 70 | €0 | €7,984 | +€7,984 | |
| Other operating income | 74 | €768,289 | €646,387 | -€121,902 | -15.9% |
| Non-recurring operating income | 76A | €27,050 | €382,425 | +€355,375 | +1,314% |
| Operating charges | 60/66A | €619,285 | €628,813 | +€9,527 | +1.5% |
| Services and other goods | 61 | €149,731 | €188,580 | +€38,848 | +25.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €420,788 | €399,888 | -€20,900 | -5.0% |
| Other operating charges | 640/8 | €48,766 | €40,345 | -€8,421 | -17.3% |
| Operating profit (loss) | 9901 | €176,054 | €407,984 | +€231,930 | +132% |
| Financial income | 75/76B | €0 | €365 | +€365 | |
| Recurring financial income | 75 | €0 | €365 | +€365 | |
| Other financial income | 752/9 | €0 | €365 | +€365 | |
| Financial charges | 65/66B | €88,010 | €132,970 | +€44,960 | +51.1% |
| Recurring financial charges | 65 | €88,010 | €132,970 | +€44,960 | +51.1% |
| Debt charges | 650 | €86,698 | €131,703 | +€45,005 | +51.9% |
| Other financial charges | 652/9 | €1,312 | €1,267 | -€46 | -3.5% |
| Profit (loss) for the period before taxes | 9903 | €88,044 | €275,379 | +€187,335 | +213% |
| Income taxes | 67/77 | €24,563 | €58,807 | +€34,244 | +139% |
| Taxes | 670/3 | €24,563 | €74,050 | +€49,487 | +201% |
| Tax adjustments and reversals of tax provisions | 77 | - | €15,243 | +€15,243 | |
| Profit (loss) for the period | 9904 | €63,481 | €216,572 | +€153,091 | +241% |
| Profit (loss) for the period to be appropriated | 9905 | €63,481 | €216,572 | +€153,091 | +241% |
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 20 October 2026 via checked.be.