altai: 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.
altai
Largest movements
- Tangible fixed assets -€45,389
down €45,389 (-14.8%), from €306,653 to €261,265
of which Other tangible fixed assets: -€39,953
- Cash +€31,754
up €31,754 (+33.0%), from €96,160 to €127,914
mainly Net result for the year (+€136,747) and Investment in fixed assets (net) (+€29,631)
- Reserves +€136,747
up €136,747 (+257.5%), from €53,113 to €189,860
- Other debts -€117,906
down €117,906 (-98.3%), from €119,906 to €2,000
- Debts after one year -€48,020
down €48,020 (-20.5%), from €234,223 to €186,203
of which Other amounts payable: -€33,456
- Tax, wage and social debts +€17,499
up €17,499 (+271.3%), from €6,449 to €23,949
of which Taxes: +€12,851
- Gross operating margin +€23,138
up €23,138 (+12.8%), from €180,872 to €204,010
- Taxes +€2,575
up €2,575 (+7.1%), from €36,500 to €39,075
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 | €435,593 | €423,947 | -€11,646 | -2.7% |
| Fixed assets | 21/28 | €306,653 | €261,265 | -€45,389 | -14.8% |
| Tangible fixed assets | 22/27 | €306,653 | €261,265 | -€45,389 | -14.8% |
| Land and buildings | 22 | €252,107 | €250,361 | -€1,747 | -0.7% |
| Plant, machinery and equipment | 23 | €1,588 | €1,184 | -€405 | -25.5% |
| Furniture and vehicles | 24 | €8,304 | €5,019 | -€3,285 | -39.6% |
| Other tangible fixed assets | 26 | €44,654 | €4,701 | -€39,953 | -89.5% |
| Current assets | 29/58 | €128,939 | €162,682 | +€33,743 | +26.2% |
| Amounts receivable within one year | 40/41 | €30,725 | €32,212 | +€1,487 | +4.8% |
| Trade receivables | 40 | €27,225 | €27,225 | = | 0.0% |
| Other amounts receivable | 41 | €3,500 | €4,987 | +€1,487 | +42.5% |
| Cash at bank and in hand | 54/58 | €96,160 | €127,914 | +€31,754 | +33.0% |
| Deferred charges and accrued income | 490/1 | €2,055 | €2,556 | +€501 | +24.4% |
| Total equity and liabilities | 10/49 | €435,593 | €423,947 | -€11,646 | -2.7% |
| Equity | 10/15 | €55,613 | €192,360 | +€136,747 | +245.9% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €53,113 | €189,860 | +€136,747 | +257.5% |
| Distributable reserves | 133 | €53,113 | €189,860 | +€136,747 | +257.5% |
| Amounts payable | 17/49 | €379,980 | €231,587 | -€148,393 | -39.1% |
| Amounts payable after more than one year | 17 | €234,223 | €186,203 | -€48,020 | -20.5% |
| Financial debts | 170/4 | €192,899 | €178,335 | -€14,564 | -7.6% |
| Other amounts payable | 178/9 | €41,324 | €7,868 | -€33,456 | -81.0% |
| Amounts payable within one year | 42/48 | €143,503 | €43,144 | -€100,359 | -69.9% |
| Current portion of amounts payable after more than one year | 42 | €14,209 | €14,564 | +€356 | +2.5% |
| Trade debts | 44 | €2,939 | €2,631 | -€308 | -10.5% |
| Suppliers | 440/4 | €2,939 | €2,631 | -€308 | -10.5% |
| Taxes, remuneration and social security | 45 | €6,449 | €23,949 | +€17,499 | +271.3% |
| Taxes | 450/3 | €6,449 | €19,300 | +€12,851 | +199.3% |
| Remuneration and social security | 454/9 | - | €4,648 | +€4,648 | |
| Other amounts payable | 47/48 | €119,906 | €2,000 | -€117,906 | -98.3% |
| Accrued charges and deferred income | 492/3 | €2,254 | €2,240 | -€14 | -0.6% |
| Non-recurring operating income | 76A | - | €4,324 | +€4,324 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,492 | €15,757 | +€1,265 | +8.7% |
| Other operating charges | 640/8 | €2,702 | €2,879 | +€177 | +6.6% |
| Gross operating margin | 9900 | €180,872 | €204,010 | +€23,138 | +12.8% |
| Operating profit (loss) | 9901 | €163,678 | €185,374 | +€21,696 | +13.3% |
| Financial income | 75/76B | - | €5 | +€5 | |
| Recurring financial income | 75 | - | €5 | +€5 | |
| Financial charges | 65/66B | €9,273 | €9,557 | +€285 | +3.1% |
| Recurring financial charges | 65 | €9,273 | €9,557 | +€285 | +3.1% |
| Profit (loss) for the period before taxes | 9903 | €154,406 | €175,821 | +€21,416 | +13.9% |
| Income taxes | 67/77 | €36,500 | €39,075 | +€2,575 | +7.1% |
| Profit (loss) for the period | 9904 | €117,906 | €136,747 | +€18,841 | +16.0% |
| Profit (loss) for the period to be appropriated | 9905 | €117,906 | €136,747 | +€18,841 | +16.0% |
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 9 October 2026 via checked.be.