ALTCO Management: 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.
ALTCO Management
Largest movements
- Current investments +€216,136
up €216,136 (+423.8%), from €51,000 to €267,136
- Tangible fixed assets +€31,060
up €31,060 (+26.6%), from €116,694 to €147,754
of which Other tangible fixed assets: +€57,960
- Reserves +€179,839
up €179,839 (+140.4%), from €128,072 to €307,911
- Tax, wage and social debts +€54,811
up €54,811 (+109.6%), from €49,994 to €104,805
- Other debts +€13,757
up €13,757 (+28.3%), from €48,654 to €62,411
- Gross operating margin +€84,245
up €84,245 (+45.8%), from €183,999 to €268,244
- Taxes +€18,485
up €18,485 (+50.1%), from €36,925 to €55,410
- Depreciation +€5,542
up €5,542 (+19.7%), from €28,102 to €33,644
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 | €232,844 | €481,314 | +€248,470 | +106.7% |
| Fixed assets | 21/28 | €116,694 | €147,754 | +€31,060 | +26.6% |
| Tangible fixed assets | 22/27 | €116,694 | €147,754 | +€31,060 | +26.6% |
| Plant, machinery and equipment | 23 | €8,448 | €6,207 | -€2,241 | -26.5% |
| Furniture and vehicles | 24 | €97,754 | €73,094 | -€24,660 | -25.2% |
| Other tangible fixed assets | 26 | €10,493 | €68,453 | +€57,960 | +552.4% |
| Current assets | 29/58 | €116,150 | €333,560 | +€217,410 | +187.2% |
| Current investments | 50/53 | €51,000 | €267,136 | +€216,136 | +423.8% |
| Cash at bank and in hand | 54/58 | €62,191 | €63,466 | +€1,274 | +2.0% |
| Deferred charges and accrued income | 490/1 | €2,959 | €2,959 | = | 0.0% |
| Total equity and liabilities | 10/49 | €232,844 | €481,314 | +€248,470 | +106.7% |
| Equity | 10/15 | €134,072 | €313,911 | +€179,839 | +134.1% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Reserves | 13 | €128,072 | €307,911 | +€179,839 | +140.4% |
| Distributable reserves | 133 | €128,072 | €307,911 | +€179,839 | +140.4% |
| Amounts payable | 17/49 | €98,772 | €167,403 | +€68,631 | +69.5% |
| Amounts payable within one year | 42/48 | €98,772 | €167,403 | +€68,631 | +69.5% |
| Trade debts | 44 | €125 | €188 | +€63 | +50.5% |
| Suppliers | 440/4 | €125 | €188 | +€63 | +50.5% |
| Taxes, remuneration and social security | 45 | €49,994 | €104,805 | +€54,811 | +109.6% |
| Taxes | 450/3 | €49,994 | €104,805 | +€54,811 | +109.6% |
| Other amounts payable | 47/48 | €48,654 | €62,411 | +€13,757 | +28.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,102 | €33,644 | +€5,542 | +19.7% |
| Other operating charges | 640/8 | €264 | €269 | +€5 | +2.0% |
| Gross operating margin | 9900 | €183,999 | €268,244 | +€84,245 | +45.8% |
| Operating profit (loss) | 9901 | €155,633 | €234,331 | +€78,698 | +50.6% |
| Financial income | 75/76B | €1,708 | €1,567 | -€141 | -8.2% |
| Recurring financial income | 75 | €1,708 | €1,567 | -€141 | -8.2% |
| Financial charges | 65/66B | €121 | €649 | +€528 | +434.2% |
| Recurring financial charges | 65 | €121 | €649 | +€528 | +434.2% |
| Profit (loss) for the period before taxes | 9903 | €157,219 | €235,249 | +€78,030 | +49.6% |
| Income taxes | 67/77 | €36,925 | €55,410 | +€18,485 | +50.1% |
| Profit (loss) for the period | 9904 | €120,294 | €179,839 | +€59,544 | +49.5% |
| Profit (loss) for the period to be appropriated | 9905 | €120,294 | €179,839 | +€59,544 | +49.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.