ALTAVALYS: 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.
ALTAVALYS
Largest movements
- Receivables within one year -€46,084
down €46,084 (-73.2%), from €62,920 to €16,835
of which Trade receivables: -€56,356
- Tangible fixed assets +€12,009
up €12,009 (+307.1%), from €3,911 to €15,921
of which Furniture and vehicles: +€12,064
- Cash -€8,013
down €8,013 (-15.0%), from €53,336 to €45,323
mainly Contributions, distributions and other (-€35,294) and Investment in fixed assets (net) (-€17,509)
- Reserves -€27,294
down €27,294 (-31.8%), from €85,860 to €58,566
- Tax, wage and social debts -€7,801
down €7,801 (-85.5%), from €9,125 to €1,324
- Other debts -€6,856
no longer reported in 2025 (was €6,856)
- Gross operating margin -€73,833
down €73,833 (-81.6%), from €90,476 to €16,643
- Taxes -€15,360
down €15,360 (-82.7%), from €18,571 to €3,211
- Depreciation +€3,373
up €3,373 (+157.7%), from €2,139 to €5,512
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 | €121,192 | €79,331 | -€41,862 | -34.5% |
| Fixed assets | 21/28 | €3,924 | €15,921 | +€11,997 | +305.7% |
| Tangible fixed assets | 22/27 | €3,911 | €15,921 | +€12,009 | +307.1% |
| Furniture and vehicles | 24 | €3,426 | €15,490 | +€12,064 | +352.1% |
| Other tangible fixed assets | 26 | €485 | €430 | -€55 | -11.3% |
| Financial fixed assets | 28 | €13 | - | -€13 | |
| Current assets | 29/58 | €117,269 | €63,410 | -€53,859 | -45.9% |
| Amounts receivable within one year | 40/41 | €62,920 | €16,835 | -€46,084 | -73.2% |
| Trade receivables | 40 | €56,356 | - | -€56,356 | |
| Other amounts receivable | 41 | €6,564 | €16,835 | +€10,272 | +156.5% |
| Cash at bank and in hand | 54/58 | €53,336 | €45,323 | -€8,013 | -15.0% |
| Deferred charges and accrued income | 490/1 | €1,013 | €1,252 | +€239 | +23.5% |
| Total equity and liabilities | 10/49 | €121,192 | €79,331 | -€41,862 | -34.5% |
| Equity | 10/15 | €105,212 | €78,007 | -€27,205 | -25.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Outside capital | 11 | €18,600 | €18,600 | = | 0.0% |
| Other | 1109/19 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €85,860 | €58,566 | -€27,294 | -31.8% |
| Distributable reserves | 133 | €85,860 | €58,566 | -€27,294 | -31.8% |
| Profit (loss) carried forward | 14 | €752 | €841 | +€90 | +11.9% |
| Amounts payable | 17/49 | €15,981 | €1,324 | -€14,657 | -91.7% |
| Amounts payable within one year | 42/48 | €15,981 | €1,324 | -€14,657 | -91.7% |
| Taxes, remuneration and social security | 45 | €9,125 | €1,324 | -€7,801 | -85.5% |
| Taxes | 450/3 | €9,125 | €1,324 | -€7,801 | -85.5% |
| Other amounts payable | 47/48 | €6,856 | - | -€6,856 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,139 | €5,512 | +€3,373 | +157.7% |
| Other operating charges | 640/8 | - | €13 | +€13 | |
| Gross operating margin | 9900 | €90,476 | €16,643 | -€73,833 | -81.6% |
| Operating profit (loss) | 9901 | €88,338 | €11,118 | -€77,219 | -87.4% |
| Financial income | 75/76B | - | €264 | +€264 | |
| Recurring financial income | 75 | - | €264 | +€264 | |
| Financial charges | 65/66B | €66 | €82 | +€16 | +24.5% |
| Recurring financial charges | 65 | €66 | €82 | +€16 | +24.5% |
| Profit (loss) for the period before taxes | 9903 | €88,271 | €11,301 | -€76,971 | -87.2% |
| Income taxes | 67/77 | €18,571 | €3,211 | -€15,360 | -82.7% |
| Profit (loss) for the period | 9904 | €69,700 | €8,090 | -€61,611 | -88.4% |
| Profit (loss) for the period to be appropriated | 9905 | €69,700 | €8,090 | -€61,611 | -88.4% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.