AL-TERRE-NATIVE: what changed
Two fiscal 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.
AL-TERRE-NATIVE
Largest movements
- Cash -€13,119
down €13,119 (-43.5%), from €30,142 to €17,023
mainly Investment in fixed assets (net) (-€23,099) and Debts after one year (-€15,153)
- Tangible fixed assets -€7,770
down €7,770 (-1.4%), from €539,469 to €531,700
of which Land and buildings: -€22,284
- Receivables within one year +€7,056
new in 2025: €7,056
- Debts after one year -€15,153
down €15,153 (-4.3%), from €356,230 to €341,076
- Other debts -€11,327
down €11,327 (-14.9%), from €75,946 to €64,619
- Gross operating margin -€35,229
down €35,229 (-29.1%), from €121,069 to €85,840
- Financial income -€7,386
down €7,386 (-78.4%), from €9,419 to €2,033
- Taxes -€6,711
down €6,711 (-88.2%), from €7,609 to €898
- Financial charges -€2,321
down €2,321 (-23.7%), from €9,801 to €7,480
- Staff costs -€1,456
down €1,456 (-3.2%), from €45,280 to €43,824
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.
Cash bridge derived
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 | €620,700 | €603,032 | -€17,668 | -2.8% |
| Fixed assets | 21/28 | €539,973 | €532,203 | -€7,770 | -1.4% |
| Tangible fixed assets | 22/27 | €539,469 | €531,700 | -€7,770 | -1.4% |
| Land and buildings | 22 | €519,234 | €496,951 | -€22,284 | -4.3% |
| Plant, machinery and equipment | 23 | €19,365 | €13,621 | -€5,744 | -29.7% |
| Furniture and vehicles | 24 | €870 | €21,128 | +€20,258 | +2327.8% |
| Financial fixed assets | 28 | €503 | €503 | = | 0.0% |
| Current assets | 29/58 | €80,728 | €70,829 | -€9,899 | -12.3% |
| Stocks and contracts in progress | 3 | €50,585 | €46,750 | -€3,835 | -7.6% |
| Stocks | 30/36 | €50,585 | €46,750 | -€3,835 | -7.6% |
| Amounts receivable within one year | 40/41 | - | €7,056 | +€7,056 | |
| Other amounts receivable | 41 | - | €7,056 | +€7,056 | |
| Cash at bank and in hand | 54/58 | €30,142 | €17,023 | -€13,119 | -43.5% |
| Total equity and liabilities | 10/49 | €620,700 | €603,032 | -€17,668 | -2.8% |
| Equity | 10/15 | €124,603 | €127,444 | +€2,841 | +2.3% |
| Contributions | 10/11 | €22,000 | €22,000 | = | 0.0% |
| Outside capital | 11 | €22,000 | €22,000 | = | 0.0% |
| Share premium | 1100/10 | €22,000 | €22,000 | = | 0.0% |
| Reserves | 13 | €95,000 | €95,000 | = | 0.0% |
| Distributable reserves | 133 | €95,000 | €95,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €7,603 | €10,444 | +€2,841 | +37.4% |
| Amounts payable | 17/49 | €496,098 | €475,588 | -€20,509 | -4.1% |
| Amounts payable after more than one year | 17 | €356,230 | €341,076 | -€15,153 | -4.3% |
| Financial debts | 170/4 | €356,230 | €341,076 | -€15,153 | -4.3% |
| Amounts payable within one year | 42/48 | €139,868 | €134,512 | -€5,356 | -3.8% |
| Current portion of amounts payable after more than one year | 42 | €30,840 | €36,776 | +€5,936 | +19.2% |
| Trade debts | 44 | €22,761 | €20,183 | -€2,578 | -11.3% |
| Suppliers | 440/4 | €22,761 | €20,183 | -€2,578 | -11.3% |
| Taxes, remuneration and social security | 45 | €10,321 | €12,934 | +€2,613 | +25.3% |
| Taxes | 450/3 | €5,725 | €6,020 | +€296 | +5.2% |
| Remuneration and social security | 454/9 | €4,597 | €6,914 | +€2,317 | +50.4% |
| Other amounts payable | 47/48 | €75,946 | €64,619 | -€11,327 | -14.9% |
| Remuneration, social security and pensions | 62 | €45,280 | €43,824 | -€1,456 | -3.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,986 | €30,869 | -€117 | -0.4% |
| Other operating charges | 640/8 | €2,237 | €1,960 | -€277 | -12.4% |
| Gross operating margin | 9900 | €121,069 | €85,840 | -€35,229 | -29.1% |
| Operating profit (loss) | 9901 | €42,566 | €9,186 | -€33,380 | -78.4% |
| Financial income | 75/76B | €9,419 | €2,033 | -€7,386 | -78.4% |
| Recurring financial income | 75 | €9,419 | €2,033 | -€7,386 | -78.4% |
| Financial charges | 65/66B | €9,801 | €7,480 | -€2,321 | -23.7% |
| Recurring financial charges | 65 | €9,801 | €7,480 | -€2,321 | -23.7% |
| Profit (loss) for the period before taxes | 9903 | €42,184 | €3,739 | -€38,444 | -91.1% |
| Income taxes | 67/77 | €7,609 | €898 | -€6,711 | -88.2% |
| Profit (loss) for the period | 9904 | €34,575 | €2,841 | -€31,734 | -91.8% |
| Profit (loss) for the period to be appropriated | 9905 | €34,575 | €2,841 | -€31,734 | -91.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.