ALTA IMMO: 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.
ALTA IMMO
Largest movements
- Current investments -€110,000
down €110,000 (-23.9%), from €460,000 to €350,000
- Tangible fixed assets -€70,998
down €70,998 (-4.8%), from €1.5m to €1.4m
of which Land and buildings: -€108,116
- Deferred charges and accrued income -€36,887
down €36,887 (-15.8%), from €233,554 to €196,668
- Debts after one year -€121,853
down €121,853 (-9.7%), from €1.3m to €1.1m
- Profit (loss) carried forward -€60,957
down €60,957 (-44.2%), from -€137,931 to -€198,889
- Reserves -€42,628
down €42,628 (-7.9%), from €542,255 to €499,628
of which Tax-exempt reserves: -€42,628
- Other debts +€38,237
up €38,237 (+31.5%), from €121,450 to €159,687
- Provisions -€21,950
down €21,950 (-8.3%), from €263,400 to €241,450
- Gross operating margin -€5,492
down €5,492 (-7.8%), from €70,279 to €64,787
- Other operating charges +€3,696
up €3,696 (+17.9%), from €20,658 to €24,355
- Financial charges -€3,499
down €3,499 (-7.2%), from €48,880 to €45,381
- Depreciation -€3,497
down €3,497 (-2.8%), from €123,679 to €120,183
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,191,196 | €1,975,339 | -€215,857 | -9.9% |
| Fixed assets | 21/28 | €1,467,138 | €1,396,140 | -€70,998 | -4.8% |
| Tangible fixed assets | 22/27 | €1,467,138 | €1,396,140 | -€70,998 | -4.8% |
| Land and buildings | 22 | €1,464,091 | €1,355,975 | -€108,116 | -7.4% |
| Furniture and vehicles | 24 | €3,047 | €40,165 | +€37,119 | +1,218% |
| Current assets | 29/58 | €724,058 | €579,200 | -€144,859 | -20.0% |
| Amounts receivable within one year | 40/41 | €4,520 | €4,615 | +€95 | +2.1% |
| Trade receivables | 40 | €1,600 | €1,600 | = | 0.0% |
| Other amounts receivable | 41 | €2,920 | €3,015 | +€95 | +3.3% |
| Current investments | 50/53 | €460,000 | €350,000 | -€110,000 | -23.9% |
| Cash at bank and in hand | 54/58 | €25,984 | €27,916 | +€1,933 | +7.4% |
| Deferred charges and accrued income | 490/1 | €233,554 | €196,668 | -€36,887 | -15.8% |
| Total equity and liabilities | 10/49 | €2,191,196 | €1,975,339 | -€215,857 | -9.9% |
| Equity | 10/15 | €422,916 | €319,331 | -€103,585 | -24.5% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €542,255 | €499,628 | -€42,628 | -7.9% |
| Tax-exempt reserves | 132 | €515,396 | €472,768 | -€42,628 | -8.3% |
| Distributable reserves | 133 | €26,859 | €26,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€137,931 | -€198,889 | -€60,957 | -44.2% |
| Provisions and deferred taxes | 16 | €263,400 | €241,450 | -€21,950 | -8.3% |
| Deferred taxes | 168 | €263,400 | €241,450 | -€21,950 | -8.3% |
| Amounts payable | 17/49 | €1,504,880 | €1,414,558 | -€90,321 | -6.0% |
| Amounts payable after more than one year | 17 | €1,250,030 | €1,128,177 | -€121,853 | -9.7% |
| Financial debts | 170/4 | €1,250,030 | €1,128,177 | -€121,853 | -9.7% |
| Amounts payable within one year | 42/48 | €254,849 | €284,761 | +€29,912 | +11.7% |
| Current portion of amounts payable after more than one year | 42 | €128,691 | €121,853 | -€6,837 | -5.3% |
| Trade debts | 44 | €4,264 | €3,221 | -€1,043 | -24.5% |
| Suppliers | 440/4 | €4,264 | €3,221 | -€1,043 | -24.5% |
| Taxes, remuneration and social security | 45 | €445 | €0 | -€445 | -100% |
| Taxes | 450/3 | €445 | €0 | -€445 | -100% |
| Other amounts payable | 47/48 | €121,450 | €159,687 | +€38,237 | +31.5% |
| Accrued charges and deferred income | 492/3 | - | €1,620 | +€1,620 | |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €123,679 | €120,183 | -€3,497 | -2.8% |
| Other operating charges | 640/8 | €20,658 | €24,355 | +€3,696 | +17.9% |
| Non-recurring operating charges | 66A | €142 | €0 | -€142 | -100% |
| Gross operating margin | 9900 | €70,279 | €64,787 | -€5,492 | -7.8% |
| Operating profit (loss) | 9901 | -€74,201 | -€79,751 | -€5,550 | -7.5% |
| Financial income | 75/76B | €48 | €2 | -€46 | -96.7% |
| Recurring financial income | 75 | €48 | €2 | -€46 | -96.7% |
| Financial charges | 65/66B | €48,880 | €45,381 | -€3,499 | -7.2% |
| Recurring financial charges | 65 | €48,880 | €45,381 | -€3,499 | -7.2% |
| Profit (loss) for the period before taxes | 9903 | -€123,032 | -€125,130 | -€2,098 | -1.7% |
| Transfer from deferred taxes | 780 | €21,950 | €21,950 | = | 0.0% |
| Income taxes | 67/77 | €459 | €405 | -€54 | -11.9% |
| Profit (loss) for the period | 9904 | -€101,542 | -€103,585 | -€2,044 | -2.0% |
| Transfer from tax-exempt reserves | 789 | €42,628 | €42,628 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€58,914 | -€60,957 | -€2,044 | -3.5% |
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 27 October 2026 via checked.be.