ALTEGA: 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.
ALTEGA
Largest movements
- Tangible fixed assets +€108,977
up €108,977 (+37.6%), from €289,753 to €398,729
of which Land and buildings: +€91,560
- Receivables within one year -€60,609
down €60,609 (-63.0%), from €96,256 to €35,647
of which Other amounts receivable: -€37,990
- Cash -€16,419
down €16,419 (-36.5%), from €44,996 to €28,577
mainly Investment in fixed assets (net) (-€135,573) and Tax, wage and social debts (-€17,102)
- Deferred charges and accrued income +€12,950
new in 2025: €12,950
- Debts after one year +€36,346
up €36,346 (+16.5%), from €220,215 to €256,561
- Trade debts +€18,502
up €18,502 (+734%), from €2,519 to €21,021
- Tax, wage and social debts -€17,102
down €17,102 (-70.9%), from €24,109 to €7,007
- Current portion of long-term debt +€13,096
up €13,096 (+124%), from €10,592 to €23,688
- Other debts -€6,574
down €6,574 (-13.4%), from €49,098 to €42,524
- Turnover +€207,425
new in 2025: €207,425
- Purchases and services +€163,533
new in 2025: €163,533
- Gross operating margin -€19,848
down €19,848 (-31.1%), from €63,740 to €43,892
- Depreciation +€8,664
up €8,664 (+48.3%), from €17,932 to €26,596
- Taxes -€6,441
down €6,441 (-83.3%), from €7,734 to €1,293
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 | €432,045 | €476,943 | +€44,898 | +10.4% |
| Fixed assets | 21/28 | €290,793 | €399,769 | +€108,977 | +37.5% |
| Tangible fixed assets | 22/27 | €289,753 | €398,729 | +€108,977 | +37.6% |
| Land and buildings | 22 | €281,854 | €373,414 | +€91,560 | +32.5% |
| Furniture and vehicles | 24 | €7,899 | €25,315 | +€17,417 | +220% |
| Financial fixed assets | 28 | €1,040 | €1,040 | = | 0.0% |
| Current assets | 29/58 | €141,252 | €77,174 | -€64,079 | -45.4% |
| Amounts receivable within one year | 40/41 | €96,256 | €35,647 | -€60,609 | -63.0% |
| Trade receivables | 40 | €41,989 | €19,370 | -€22,619 | -53.9% |
| Other amounts receivable | 41 | €54,267 | €16,276 | -€37,990 | -70.0% |
| Cash at bank and in hand | 54/58 | €44,996 | €28,577 | -€16,419 | -36.5% |
| Deferred charges and accrued income | 490/1 | - | €12,950 | +€12,950 | |
| Total equity and liabilities | 10/49 | €432,045 | €476,943 | +€44,898 | +10.4% |
| Equity | 10/15 | €125,512 | €126,142 | +€630 | +0.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | €18,600 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €105,052 | €105,682 | +€630 | +0.6% |
| Amounts payable | 17/49 | €306,533 | €350,801 | +€44,268 | +14.4% |
| Amounts payable after more than one year | 17 | €220,215 | €256,561 | +€36,346 | +16.5% |
| Financial debts | 170/4 | €220,215 | €256,561 | +€36,346 | +16.5% |
| Amounts payable within one year | 42/48 | €86,318 | €94,240 | +€7,922 | +9.2% |
| Current portion of amounts payable after more than one year | 42 | €10,592 | €23,688 | +€13,096 | +124% |
| Trade debts | 44 | €2,519 | €21,021 | +€18,502 | +734% |
| Suppliers | 440/4 | €2,519 | €21,021 | +€18,502 | +734% |
| Taxes, remuneration and social security | 45 | €24,109 | €7,007 | -€17,102 | -70.9% |
| Taxes | 450/3 | €24,109 | €7,007 | -€17,102 | -70.9% |
| Other amounts payable | 47/48 | €49,098 | €42,524 | -€6,574 | -13.4% |
| Turnover | 70 | - | €207,425 | +€207,425 | |
| Goods, raw materials, services and sundry goods | 60/61 | - | €163,533 | +€163,533 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,932 | €26,596 | +€8,664 | +48.3% |
| Other operating charges | 640/8 | €850 | €3,841 | +€2,990 | +352% |
| Gross operating margin | 9900 | €63,740 | €43,892 | -€19,848 | -31.1% |
| Operating profit (loss) | 9901 | €44,957 | €13,455 | -€31,503 | -70.1% |
| Financial charges | 65/66B | €9,932 | €11,532 | +€1,600 | +16.1% |
| Recurring financial charges | 65 | €9,932 | €11,532 | +€1,600 | +16.1% |
| Profit (loss) for the period before taxes | 9903 | €35,026 | €1,923 | -€33,103 | -94.5% |
| Income taxes | 67/77 | €7,734 | €1,293 | -€6,441 | -83.3% |
| Profit (loss) for the period | 9904 | €27,292 | €630 | -€26,662 | -97.7% |
| Profit (loss) for the period to be appropriated | 9905 | €27,292 | €630 | -€26,662 | -97.7% |
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 18 October 2026 via checked.be.