ALTA: 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.
ALTA
Largest movements
- Receivables within one year +€204,841
up €204,841 (+119.4%), from €171,628 to €376,469
of which Trade receivables: +€141,601
- Cash -€14,762
down €14,762 (-88.3%), from €16,715 to €1,954
mainly Receivables within one year (-€204,841) and Current portion of long-term debt (-€76,133)
- Tangible fixed assets -€10,930
down €10,930 (-36.6%), from €29,874 to €18,943
of which Plant, machinery and equipment: -€5,608
- Trade debts +€117,271
up €117,271 (+66.5%), from €176,255 to €293,526
- Current portion of long-term debt -€76,133
no longer reported in 2025 (was €76,133)
- Other debts +€73,157
up €73,157 (+72.5%), from €100,843 to €174,000
- Short-term financial debts +€68,606
up €68,606 (+41.0%), from €167,337 to €235,942
of which Other loans: +€63,603
- Debts after one year -€17,377
no longer reported in 2025 (was €17,377)
- Financial charges +€19,158
up €19,158 (+97.1%), from €19,723 to €38,881
- Staff costs -€6,183
down €6,183 (-1.9%), from €331,562 to €325,379
- Gross operating margin -€5,602
down €5,602 (-1.5%), from €385,767 to €380,165
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 | €887,852 | €1,066,478 | +€178,626 | +20.1% |
| Fixed assets | 21/28 | €633,386 | €622,455 | -€10,930 | -1.7% |
| Tangible fixed assets | 22/27 | €29,874 | €18,943 | -€10,930 | -36.6% |
| Plant, machinery and equipment | 23 | €17,976 | €12,368 | -€5,608 | -31.2% |
| Furniture and vehicles | 24 | €11,898 | €6,575 | -€5,323 | -44.7% |
| Financial fixed assets | 28 | €603,512 | €603,512 | = | 0.0% |
| Current assets | 29/58 | €254,467 | €444,023 | +€189,556 | +74.5% |
| Stocks and contracts in progress | 3 | €66,123 | €65,600 | -€523 | -0.8% |
| Stocks | 30/36 | €66,123 | €65,600 | -€523 | -0.8% |
| Amounts receivable within one year | 40/41 | €171,628 | €376,469 | +€204,841 | +119.4% |
| Trade receivables | 40 | €171,628 | €313,229 | +€141,601 | +82.5% |
| Other amounts receivable | 41 | - | €63,240 | +€63,240 | |
| Cash at bank and in hand | 54/58 | €16,715 | €1,954 | -€14,762 | -88.3% |
| Total equity and liabilities | 10/49 | €887,852 | €1,066,478 | +€178,626 | +20.1% |
| Equity | 10/15 | €195,828 | €199,452 | +€3,624 | +1.9% |
| Contributions | 10/11 | €148,736 | €148,736 | = | 0.0% |
| Capital | 10 | €148,736 | €148,736 | = | 0.0% |
| Issued capital | 100 | €148,736 | €148,736 | = | 0.0% |
| Reserves | 13 | €3,688 | €3,688 | = | 0.0% |
| Non-distributable reserves | 130/1 | €3,688 | €3,688 | = | 0.0% |
| Legal reserve | 130 | €3,688 | €3,688 | = | 0.0% |
| Profit (loss) carried forward | 14 | €43,404 | €47,027 | +€3,624 | +8.3% |
| Amounts payable | 17/49 | €692,024 | €867,026 | +€175,002 | +25.3% |
| Amounts payable after more than one year | 17 | €17,377 | - | -€17,377 | |
| Financial debts | 170/4 | €17,377 | - | -€17,377 | |
| Amounts payable within one year | 42/48 | €674,647 | €867,026 | +€192,379 | +28.5% |
| Current portion of amounts payable after more than one year | 42 | €76,133 | - | -€76,133 | |
| Financial debts | 43 | €167,337 | €235,942 | +€68,606 | +41.0% |
| Credit institutions | 430/8 | €167,337 | €172,339 | +€5,002 | +3.0% |
| Other loans | 439 | - | €63,603 | +€63,603 | |
| Trade debts | 44 | €176,255 | €293,526 | +€117,271 | +66.5% |
| Suppliers | 440/4 | €176,255 | €293,526 | +€117,271 | +66.5% |
| Taxes, remuneration and social security | 45 | €154,079 | €163,557 | +€9,478 | +6.2% |
| Taxes | 450/3 | €78,469 | €96,487 | +€18,018 | +23.0% |
| Remuneration and social security | 454/9 | €75,610 | €67,070 | -€8,540 | -11.3% |
| Other amounts payable | 47/48 | €100,843 | €174,000 | +€73,157 | +72.5% |
| Remuneration, social security and pensions | 62 | €331,562 | €325,379 | -€6,183 | -1.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,782 | €9,533 | -€1,248 | -11.6% |
| Other operating charges | 640/8 | €996 | €1,029 | +€32 | +3.2% |
| Non-recurring operating charges | 66A | - | €40 | +€40 | |
| Gross operating margin | 9900 | €385,767 | €380,165 | -€5,602 | -1.5% |
| Operating profit (loss) | 9901 | €42,427 | €44,184 | +€1,756 | +4.1% |
| Financial income | 75/76B | €11,576 | €9,912 | -€1,664 | -14.4% |
| Recurring financial income | 75 | €11,576 | €9,912 | -€1,664 | -14.4% |
| Financial charges | 65/66B | €19,723 | €38,881 | +€19,158 | +97.1% |
| Recurring financial charges | 65 | €19,723 | €38,881 | +€19,158 | +97.1% |
| Profit (loss) for the period before taxes | 9903 | €34,281 | €15,215 | -€19,066 | -55.6% |
| Income taxes | 67/77 | €10,372 | €11,591 | +€1,220 | +11.8% |
| Profit (loss) for the period | 9904 | €23,909 | €3,624 | -€20,285 | -84.8% |
| Profit (loss) for the period to be appropriated | 9905 | €23,909 | €3,624 | -€20,285 | -84.8% |
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 2 October 2026 via checked.be.