ALTE: 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.
ALTE
Largest movements
- Tangible fixed assets +€304,092
up €304,092 (+7.2%), from €4.2m to €4.6m
of which Land and buildings: +€274,476
- Stocks and contracts +€276,000
up €276,000 (+15.3%), from €1.8m to €2.1m
- Cash -€93,999
down €93,999 (-38.3%), from €245,357 to €151,358
mainly Investment in fixed assets (net) (-€635,636) and Trade debts (-€326,440)
- Reserves +€479,986
up €479,986 (+20.0%), from €2.4m to €2.9m
- Trade debts -€326,440
down €326,440 (-58.4%), from €559,048 to €232,608
- Debts after one year -€241,039
down €241,039 (-6.1%), from €3.9m to €3.7m
- Current portion of long-term debt +€220,152
up €220,152 (+210.2%), from €104,736 to €324,888
- Short-term financial debts +€208,727
up €208,727 (+59.6%), from €350,000 to €558,727
- Gross operating margin +€791,091
up €791,091 (+48.5%), from €1.6m to €2.4m
- Staff costs +€326,578
up €326,578 (+37.3%), from €876,150 to €1.2m
- Financial charges +€120,909
up €120,909 (+115.9%), from €104,327 to €225,236
- Taxes +€110,441
up €110,441 (+163.2%), from €67,653 to €178,094
- Depreciation +€91,802
up €91,802 (+38.3%), from €239,742 to €331,544
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 | €7,441,395 | €7,923,912 | +€482,517 | +6.5% |
| Fixed assets | 21/28 | €4,255,023 | €4,559,115 | +€304,092 | +7.1% |
| Tangible fixed assets | 22/27 | €4,248,594 | €4,552,686 | +€304,092 | +7.2% |
| Land and buildings | 22 | €4,092,130 | €4,366,606 | +€274,476 | +6.7% |
| Plant, machinery and equipment | 23 | €82,602 | €81,018 | -€1,584 | -1.9% |
| Furniture and vehicles | 24 | €51,532 | €78,925 | +€27,393 | +53.2% |
| Leasing and similar rights | 25 | €7,930 | €1,337 | -€6,594 | -83.1% |
| Other tangible fixed assets | 26 | €14,400 | €24,800 | +€10,400 | +72.2% |
| Assets under construction and advance payments | 27 | €0 | - | = | |
| Financial fixed assets | 28 | €6,429 | €6,429 | = | 0.0% |
| Current assets | 29/58 | €3,186,371 | €3,364,797 | +€178,425 | +5.6% |
| Amounts receivable after more than one year | 29 | €482,652 | €508,558 | +€25,906 | +5.4% |
| Other amounts receivable | 291 | €482,652 | €508,558 | +€25,906 | +5.4% |
| Stocks and contracts in progress | 3 | €1,802,008 | €2,078,008 | +€276,000 | +15.3% |
| Stocks | 30/36 | €1,802,008 | €2,078,008 | +€276,000 | +15.3% |
| Amounts receivable within one year | 40/41 | €653,067 | €626,872 | -€26,195 | -4.0% |
| Trade receivables | 40 | €304,168 | €362,208 | +€58,040 | +19.1% |
| Other amounts receivable | 41 | €348,899 | €264,664 | -€84,235 | -24.1% |
| Cash at bank and in hand | 54/58 | €245,357 | €151,358 | -€93,999 | -38.3% |
| Deferred charges and accrued income | 490/1 | €3,287 | €0 | -€3,287 | -100.0% |
| Total equity and liabilities | 10/49 | €7,441,395 | €7,923,912 | +€482,517 | +6.5% |
| Equity | 10/15 | €2,424,013 | €2,903,999 | +€479,986 | +19.8% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €2,404,013 | €2,883,999 | +€479,986 | +20.0% |
| Distributable reserves | 133 | €2,404,013 | €2,883,999 | +€479,986 | +20.0% |
| Amounts payable | 17/49 | €5,017,381 | €5,019,912 | +€2,531 | +0.1% |
| Amounts payable after more than one year | 17 | €3,932,058 | €3,691,020 | -€241,039 | -6.1% |
| Financial debts | 170/4 | €3,932,058 | €3,691,020 | -€241,039 | -6.1% |
| Amounts payable within one year | 42/48 | €1,085,323 | €1,328,893 | +€243,570 | +22.4% |
| Current portion of amounts payable after more than one year | 42 | €104,736 | €324,888 | +€220,152 | +210.2% |
| Financial debts | 43 | €350,000 | €558,727 | +€208,727 | +59.6% |
| Credit institutions | 430/8 | €350,000 | €558,727 | +€208,727 | +59.6% |
| Trade debts | 44 | €559,048 | €232,608 | -€326,440 | -58.4% |
| Suppliers | 440/4 | €559,048 | €232,608 | -€326,440 | -58.4% |
| Taxes, remuneration and social security | 45 | €71,539 | €209,883 | +€138,344 | +193.4% |
| Taxes | 450/3 | €71,539 | €71,046 | -€493 | -0.7% |
| Remuneration and social security | 454/9 | €0 | €138,837 | +€138,837 | |
| Other amounts payable | 47/48 | - | €2,787 | +€2,787 | |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €876,150 | €1,202,729 | +€326,578 | +37.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €239,742 | €331,544 | +€91,802 | +38.3% |
| Other operating charges | 640/8 | €23,195 | €106,062 | +€82,867 | +357.3% |
| Gross operating margin | 9900 | €1,632,342 | €2,423,433 | +€791,091 | +48.5% |
| Operating profit (loss) | 9901 | €493,254 | €783,098 | +€289,844 | +58.8% |
| Financial income | 75/76B | €37,796 | €100,218 | +€62,422 | +165.2% |
| Recurring financial income | 75 | €37,796 | €100,218 | +€62,422 | +165.2% |
| Financial charges | 65/66B | €104,327 | €225,236 | +€120,909 | +115.9% |
| Recurring financial charges | 65 | €104,327 | €225,236 | +€120,909 | +115.9% |
| Profit (loss) for the period before taxes | 9903 | €426,723 | €658,080 | +€231,357 | +54.2% |
| Income taxes | 67/77 | €67,653 | €178,094 | +€110,441 | +163.2% |
| Profit (loss) for the period | 9904 | €359,070 | €479,986 | +€120,916 | +33.7% |
| Profit (loss) for the period to be appropriated | 9905 | €359,070 | €479,986 | +€120,916 | +33.7% |
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 12 October 2026 via checked.be.