ALTARENCE: 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.
ALTARENCE
Largest movements
- Cash -€18,668
down €18,668 (-18.3%), from €101,923 to €83,254
mainly Debts after one year (-€45,000) and Trade debts (-€822)
- Tangible fixed assets -€6,871
down €6,871 (-100%), from €6,871 to €0
of which Other tangible fixed assets: -€6,652
- Financial fixed assets -€3,600
down €3,600 (-2.9%), from €124,013 to €120,413
- Debts after one year -€45,000
down €45,000 (-100%), from €45,000 to €0
- Profit (loss) carried forward +€16,751
up €16,751 (+80.4%), from -€20,824 to -€4,073
- Financial charges -€135,925
down €135,925 (-99.7%), from €136,397 to €472
of which Non-recurring financial charges: -€136,323
- Gross operating margin +€20,504
up €20,504, from -€3,704 to €16,800
- Depreciation -€11,412
down €11,412 (-98.1%), from €11,632 to €220
- Other operating charges -€983
down €983 (-60.8%), from €1,616 to €634
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 | €246,179 | €216,428 | -€29,751 | -12.1% |
| Fixed assets | 21/28 | €130,884 | €120,413 | -€10,471 | -8.0% |
| Tangible fixed assets | 22/27 | €6,871 | €0 | -€6,871 | -100% |
| Furniture and vehicles | 24 | €220 | €0 | -€220 | -100% |
| Other tangible fixed assets | 26 | €6,652 | €0 | -€6,652 | -100% |
| Financial fixed assets | 28 | €124,013 | €120,413 | -€3,600 | -2.9% |
| Current assets | 29/58 | €115,294 | €96,015 | -€19,279 | -16.7% |
| Amounts receivable within one year | 40/41 | €1,188 | €151 | -€1,037 | -87.3% |
| Trade receivables | 40 | €111 | €129 | +€19 | +17.0% |
| Other amounts receivable | 41 | €1,077 | €21 | -€1,056 | -98.0% |
| Current investments | 50/53 | €10,590 | €10,590 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €101,923 | €83,254 | -€18,668 | -18.3% |
| Deferred charges and accrued income | 490/1 | €1,594 | €2,020 | +€426 | +26.7% |
| Total equity and liabilities | 10/49 | €246,179 | €216,428 | -€29,751 | -12.1% |
| Equity | 10/15 | €199,176 | €215,927 | +€16,751 | +8.4% |
| Contributions | 10/11 | €200,000 | €200,000 | = | 0.0% |
| Capital | 10 | €200,000 | €200,000 | = | 0.0% |
| Issued capital | 100 | €200,000 | €200,000 | = | 0.0% |
| Reserves | 13 | €20,000 | €20,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €20,000 | €20,000 | = | 0.0% |
| Legal reserve | 130 | €20,000 | €20,000 | = | 0.0% |
| Distributable reserves | 133 | €0 | - | = | |
| Profit (loss) carried forward | 14 | -€20,824 | -€4,073 | +€16,751 | +80.4% |
| Amounts payable | 17/49 | €47,003 | €501 | -€46,502 | -98.9% |
| Amounts payable after more than one year | 17 | €45,000 | €0 | -€45,000 | -100% |
| Other amounts payable | 178/9 | €45,000 | €0 | -€45,000 | -100% |
| Amounts payable within one year | 42/48 | €2,003 | €501 | -€1,502 | -75.0% |
| Financial debts | 43 | €0 | €4 | +€4 | |
| Credit institutions | 430/8 | €0 | €4 | +€4 | |
| Trade debts | 44 | €1,308 | €486 | -€822 | -62.8% |
| Suppliers | 440/4 | €1,308 | €486 | -€822 | -62.8% |
| Taxes, remuneration and social security | 45 | €695 | €10 | -€685 | -98.5% |
| Taxes | 450/3 | €695 | €10 | -€685 | -98.5% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Non-recurring operating income | 76A | - | €20,346 | +€20,346 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,632 | €220 | -€11,412 | -98.1% |
| Other operating charges | 640/8 | €1,616 | €634 | -€983 | -60.8% |
| Non-recurring operating charges | 66A | - | €301 | +€301 | |
| Gross operating margin | 9900 | -€3,704 | €16,800 | +€20,504 | |
| Operating profit (loss) | 9901 | -€16,952 | €15,646 | +€32,597 | |
| Financial income | 75/76B | €1,452 | €1,577 | +€126 | +8.6% |
| Recurring financial income | 75 | €1,452 | €1,577 | +€126 | +8.6% |
| Financial charges | 65/66B | €136,397 | €472 | -€135,925 | -99.7% |
| Recurring financial charges | 65 | €74 | €472 | +€398 | +538% |
| Non-recurring financial charges | 66B | €136,323 | €0 | -€136,323 | -100% |
| Profit (loss) for the period before taxes | 9903 | -€151,896 | €16,751 | +€168,648 | |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€151,896 | €16,751 | +€168,648 | |
| Profit (loss) for the period to be appropriated | 9905 | -€151,896 | €16,751 | +€168,648 |
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 21 October 2026 via checked.be.