ALTECO: 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.
What changed
ALTECO
NACE 25.220, Manufacture of fabricated metal products, except machinery and equipment
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€2.2m
2024 · €2.3m-€52,272
Equity
€3.3m
2024 · €3.2m+€142,766
Cash
€543,961
2024 · €636,984-€93,024
Balance sheet total
€8.8m
2024 · €8.0m+€778,516
Largest movements
Assets
- Receivables within one year +€1.2m
up €1.2m (+35.0%), from €3.6m to €4.8m
of which Trade receivables: +€1.2m
- Tangible fixed assets -€335,430
down €335,430 (-13.5%), from €2.5m to €2.2m
- Cash -€93,024
down €93,024 (-14.6%), from €636,984 to €543,961
mainly Contributions, distributions and other (-€2.1m) and Receivables within one year (-€1.2m)
Equity and liabilities
- Other debts +€1.5m
up €1.5m (+250.0%), from €600,082 to €2.1m
- Trade debts -€455,180
down €455,180 (-19.5%), from €2.3m to €1.9m
- Debts after one year -€293,908
down €293,908 (-30.3%), from €970,042 to €676,134
- Profit (loss) carried forward +€142,766
up €142,766 (+6.1%), from €2.3m to €2.5m
- Advances received -€112,767
down €112,767 (-52.6%), from €214,436 to €101,668
Income statement
- Turnover -€515,117
down €515,117 (-3.4%), from €15.2m to €14.6m
- Goods and materials -€478,934
down €478,934 (-6.1%), from €7.8m to €7.3m
of which Purchases: -€536,141
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.
Result 2024
€2.3m
Turnover
-€515,117
Other operating income
-€34,493
Goods and materials
+€478,934
Services and other goods
+€121,166
Staff costs
+€35,215
Depreciation
-€12,723
Write-downs
-€62,913
Provisions
+€9,229
Other operating charges
+€1,538
Other operating items
-€101,858
Financial income
-€14,256
Financial charges
+€23,207
Taxes
+€19,798
Result 2025
€2.2m
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.
From operations
+€2.3m
Investment
-€9,800
Financing
-€2.4m
Cash 2024
€636,984
From operations (derived)
+€2.3m
Net result for the year
+€2.2m
Depreciation
+€345,230
Stocks and contracts
+€7,734
Receivables within one year
-€1.2m
Deferred charges and accrued income
+€32,839
Trade debts
-€455,180
Tax, wage and social debts
+€28,134
Advances received
-€112,767
Other debts
+€1.5m
Accrued charges and deferred income
-€274
Investment (derived)
-€9,800
Investment in fixed assets (net)
-€9,800
Financing
-€2.4m
Debts after one year
-€293,908
Current portion of long-term debt
-€30,213
Contributions, distributions and other
-€2.1m
Cash 2025
€543,961
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €8,016,620 | €8,795,136 | +€778,516 | +9.7% |
| Fixed assets | 21/28 | €2,490,806 | €2,155,376 | -€335,430 | -13.5% |
| Tangible fixed assets | 22/27 | €2,490,806 | €2,155,376 | -€335,430 | -13.5% |
| Land and buildings | 22 | €1,785,303 | €1,641,972 | -€143,331 | -8.0% |
| Plant, machinery and equipment | 23 | €79,997 | €53,241 | -€26,756 | -33.4% |
| Furniture and vehicles | 24 | €39,067 | €29,098 | -€9,969 | -25.5% |
| Leasing and similar rights | 25 | €586,438 | €431,065 | -€155,374 | -26.5% |
| Current assets | 29/58 | €5,525,814 | €6,639,760 | +€1.1m | +20.2% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Stocks and contracts in progress | 3 | €1,280,654 | €1,272,921 | -€7,734 | -0.6% |
| Stocks | 30/36 | €360,136 | €313,547 | -€46,589 | -12.9% |
| Raw materials and consumables | 30/31 | €202,163 | €141,292 | -€60,871 | -30.1% |
| Finished goods | 33 | €157,973 | €172,256 | +€14,283 | +9.0% |
| Contracts in progress | 37 | €920,518 | €959,373 | +€38,855 | +4.2% |
| Amounts receivable within one year | 40/41 | €3,560,543 | €4,808,086 | +€1.2m | +35.0% |
| Trade receivables | 40 | €3,560,543 | €4,808,086 | +€1.2m | +35.0% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €636,984 | €543,961 | -€93,024 | -14.6% |
| Deferred charges and accrued income | 490/1 | €47,632 | €14,793 | -€32,839 | -68.9% |
| Total equity and liabilities | 10/49 | €8,016,620 | €8,795,136 | +€778,516 | +9.7% |
| Equity | 10/15 | €3,158,689 | €3,301,454 | +€142,766 | +4.5% |
| Contributions | 10/11 | €500,156 | €500,156 | = | 0.0% |
| Capital | 10 | €500,000 | €500,000 | = | 0.0% |
| Issued capital | 100 | €500,000 | €500,000 | = | 0.0% |
| Outside capital | 11 | €156 | €156 | = | 0.0% |
| Share premium | 1100/10 | €156 | €156 | = | 0.0% |
| Reserves | 13 | €335,226 | €335,226 | = | 0.0% |
| Non-distributable reserves | 130/1 | €50,000 | €50,000 | = | 0.0% |
| Legal reserve | 130 | €50,000 | €50,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €426 | €426 | = | 0.0% |
| Distributable reserves | 133 | €284,800 | €284,800 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,323,307 | €2,466,072 | +€142,766 | +6.1% |
| Provisions and deferred taxes | 16 | €9,229 | €9,229 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €9,229 | €9,229 | = | 0.0% |
| Other liabilities and charges | 164/5 | €9,229 | €9,229 | = | 0.0% |
| Amounts payable | 17/49 | €4,848,701 | €5,484,452 | +€635,751 | +13.1% |
| Amounts payable after more than one year | 17 | €970,042 | €676,134 | -€293,908 | -30.3% |
| Financial debts | 170/4 | €970,042 | €676,134 | -€293,908 | -30.3% |
| Leasing and similar obligations | 172 | €430,795 | €278,255 | -€152,540 | -35.4% |
| Credit institutions | 173 | €539,248 | €397,879 | -€141,369 | -26.2% |
| Amounts payable within one year | 42/48 | €3,875,841 | €4,805,775 | +€929,934 | +24.0% |
| Current portion of amounts payable after more than one year | 42 | €324,121 | €293,908 | -€30,213 | -9.3% |
| Trade debts | 44 | €2,331,332 | €1,876,152 | -€455,180 | -19.5% |
| Suppliers | 440/4 | €2,331,332 | €1,876,152 | -€455,180 | -19.5% |
| Advances received on contracts in progress | 46 | €214,436 | €101,668 | -€112,767 | -52.6% |
| Taxes, remuneration and social security | 45 | €405,870 | €434,004 | +€28,134 | +6.9% |
| Taxes | 450/3 | €142,796 | €153,930 | +€11,134 | +7.8% |
| Remuneration and social security | 454/9 | €263,075 | €280,074 | +€17,000 | +6.5% |
| Other amounts payable | 47/48 | €600,082 | €2,100,042 | +€1.5m | +250.0% |
| Accrued charges and deferred income | 492/3 | €2,818 | €2,543 | -€274 | -9.7% |
| Operating income | 70/76A | €15,382,640 | €14,731,173 | -€651,468 | -4.2% |
| Turnover | 70 | €15,163,154 | €14,648,038 | -€515,117 | -3.4% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | €155,634 | €53,137 | -€102,497 | -65.9% |
| Other operating income | 74 | €44,107 | €9,614 | -€34,493 | -78.2% |
| Non-recurring operating income | 76A | €19,744 | €20,383 | +€639 | +3.2% |
| Operating charges | 60/66A | €12,481,825 | €11,911,378 | -€570,447 | -4.6% |
| Goods for resale, raw materials and consumables | 60 | €7,801,742 | €7,322,808 | -€478,934 | -6.1% |
| Purchases | 600/8 | €7,798,078 | €7,261,937 | -€536,141 | -6.9% |
| Change in stocks: decrease (increase) | 609 | €3,665 | €60,871 | +€57,206 | +1560.9% |
| Services and other goods | 61 | €1,824,223 | €1,703,057 | -€121,166 | -6.6% |
| Remuneration, social security and pensions | 62 | €2,468,089 | €2,432,875 | -€35,215 | -1.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €332,507 | €345,230 | +€12,723 | +3.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €62,913 | +€62,913 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €9,229 | €0 | -€9,229 | -100.0% |
| Other operating charges | 640/8 | €46,034 | €44,496 | -€1,538 | -3.3% |
| Operating profit (loss) | 9901 | €2,900,815 | €2,819,795 | -€81,021 | -2.8% |
| Financial income | 75/76B | €47,310 | €33,054 | -€14,256 | -30.1% |
| Recurring financial income | 75 | €47,310 | €33,054 | -€14,256 | -30.1% |
| Income from current assets | 751 | €118 | €0 | -€118 | -100.0% |
| Other financial income | 752/9 | €47,192 | €33,053 | -€14,139 | -30.0% |
| Financial charges | 65/66B | €71,712 | €48,505 | -€23,207 | -32.4% |
| Recurring financial charges | 65 | €71,712 | €48,505 | -€23,207 | -32.4% |
| Debt charges | 650 | €38,949 | €33,591 | -€5,358 | -13.8% |
| Other financial charges | 652/9 | €32,763 | €14,914 | -€17,849 | -54.5% |
| Profit (loss) for the period before taxes | 9903 | €2,876,413 | €2,804,343 | -€72,070 | -2.5% |
| Income taxes | 67/77 | €581,415 | €561,617 | -€19,798 | -3.4% |
| Taxes | 670/3 | €581,415 | €561,617 | -€19,798 | -3.4% |
| Tax adjustments and reversals of tax provisions | 77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | €2,294,998 | €2,242,726 | -€52,272 | -2.3% |
| Profit (loss) for the period to be appropriated | 9905 | €2,294,998 | €2,242,726 | -€52,272 | -2.3% |
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 6 October 2026 via checked.be.