ALTARIS PROJECTS: 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.
ALTARIS PROJECTS
Largest movements
- Stocks and contracts -€230,000
down €230,000 (-8.2%), from €2.8m to €2.6m
- Receivables within one year +€111,066
up €111,066 (+572%), from €19,409 to €130,474
of which Other amounts receivable: +€105,713
- Cash -€45,438
down €45,438 (-97.2%), from €46,736 to €1,297
mainly Other debts (-€128,938) and Receivables within one year (-€111,066)
- Other debts -€128,938
down €128,938 (-25.8%), from €500,534 to €371,596
- Other operating charges +€21,838
up €21,838 (+231%), from €9,435 to €31,272
- Depreciation -€10,252
down €10,252 (-77.5%), from €13,225 to €2,973
- Financial charges -€7,324
down €7,324 (-12.6%), from €58,033 to €50,709
- Gross operating margin +€1,440
up €1,440 (+1.7%), from €84,182 to €85,623
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 | €2,864,844 | €2,709,703 | -€155,141 | -5.4% |
| Fixed assets | 21/28 | €507 | €9,865 | +€9,357 | +1,845% |
| Tangible fixed assets | 22/27 | €507 | €9,865 | +€9,357 | +1,845% |
| Furniture and vehicles | 24 | €507 | €9,865 | +€9,357 | +1,845% |
| Current assets | 29/58 | €2,864,337 | €2,699,838 | -€164,498 | -5.7% |
| Stocks and contracts in progress | 3 | €2,798,067 | €2,568,067 | -€230,000 | -8.2% |
| Contracts in progress | 37 | €2,798,067 | €2,568,067 | -€230,000 | -8.2% |
| Amounts receivable within one year | 40/41 | €19,409 | €130,474 | +€111,066 | +572% |
| Trade receivables | 40 | - | €5,353 | +€5,353 | |
| Other amounts receivable | 41 | €19,409 | €125,122 | +€105,713 | +545% |
| Cash at bank and in hand | 54/58 | €46,736 | €1,297 | -€45,438 | -97.2% |
| Deferred charges and accrued income | 490/1 | €126 | - | -€126 | |
| Total equity and liabilities | 10/49 | €2,864,844 | €2,709,703 | -€155,141 | -5.4% |
| Equity | 10/15 | €250,291 | €250,791 | +€500 | +0.2% |
| Contributions | 10/11 | €268,600 | €268,600 | = | 0.0% |
| Capital | 10 | - | €268,600 | +€268,600 | |
| Issued capital | 100 | - | €268,600 | +€268,600 | |
| Profit (loss) carried forward | 14 | -€18,309 | -€17,809 | +€500 | +2.7% |
| Amounts payable | 17/49 | €2,614,553 | €2,458,912 | -€155,641 | -6.0% |
| Amounts payable after more than one year | 17 | €1,908,747 | €1,896,362 | -€12,385 | -0.6% |
| Financial debts | 170/4 | €1,908,747 | €1,896,362 | -€12,385 | -0.6% |
| Amounts payable within one year | 42/48 | €705,806 | €562,550 | -€143,256 | -20.3% |
| Current portion of amounts payable after more than one year | 42 | €9,353 | €15,839 | +€6,486 | +69.3% |
| Trade debts | 44 | €195,919 | €175,115 | -€20,804 | -10.6% |
| Suppliers | 440/4 | €195,919 | €175,115 | -€20,804 | -10.6% |
| Other amounts payable | 47/48 | €500,534 | €371,596 | -€128,938 | -25.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,225 | €2,973 | -€10,252 | -77.5% |
| Other operating charges | 640/8 | €9,435 | €31,272 | +€21,838 | +231% |
| Gross operating margin | 9900 | €84,182 | €85,623 | +€1,440 | +1.7% |
| Operating profit (loss) | 9901 | €61,523 | €51,377 | -€10,146 | -16.5% |
| Financial charges | 65/66B | €58,033 | €50,709 | -€7,324 | -12.6% |
| Recurring financial charges | 65 | €58,033 | €50,709 | -€7,324 | -12.6% |
| Profit (loss) for the period before taxes | 9903 | €3,490 | €668 | -€2,822 | -80.8% |
| Income taxes | 67/77 | - | €169 | +€169 | |
| Profit (loss) for the period | 9904 | €3,490 | €500 | -€2,990 | -85.7% |
| Profit (loss) for the period to be appropriated | 9905 | €3,490 | €500 | -€2,990 | -85.7% |
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 15 October 2026 via checked.be.