ALTELO: 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.
ALTELO
Largest movements
- Cash +€33,268
up €33,268 (+68.7%), from €48,425 to €81,693
mainly Net result for the year (+€91,062) and Tax, wage and social debts (+€24,368)
- Receivables within one year +€16,400
up €16,400 (+35.8%), from €45,758 to €62,158
of which Other amounts receivable: +€11,982
- Reserves +€61,911
up €61,911 (+62.6%), from €98,897 to €160,808
of which Distributable reserves: +€61,911
- Other debts -€29,987
down €29,987 (-50.7%), from €59,138 to €29,151
- Tax, wage and social debts +€24,368
up €24,368 (+182%), from €13,363 to €37,730
- Debts after one year -€7,325
down €7,325 (-7.4%), from €99,418 to €92,094
- Gross operating margin +€54,506
up €54,506 (+65.0%), from €83,892 to €138,398
- Taxes +€17,761
up €17,761 (+80.1%), from €22,180 to €39,941
- Financial income -€2,267
down €2,267 (-55.2%), from €4,107 to €1,840
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 | €297,489 | €345,809 | +€48,320 | +16.2% |
| Fixed assets | 21/28 | €202,751 | €201,369 | -€1,383 | -0.7% |
| Tangible fixed assets | 22/27 | €202,511 | €201,129 | -€1,383 | -0.7% |
| Land and buildings | 22 | €198,733 | €193,028 | -€5,705 | -2.9% |
| Furniture and vehicles | 24 | €178 | €4,500 | +€4,322 | +2,423% |
| Other tangible fixed assets | 26 | €3,600 | €3,600 | = | 0.0% |
| Financial fixed assets | 28 | €240 | €240 | = | 0.0% |
| Current assets | 29/58 | €94,738 | €144,441 | +€49,703 | +52.5% |
| Amounts receivable within one year | 40/41 | €45,758 | €62,158 | +€16,400 | +35.8% |
| Trade receivables | 40 | €21,953 | €26,371 | +€4,418 | +20.1% |
| Other amounts receivable | 41 | €23,805 | €35,787 | +€11,982 | +50.3% |
| Cash at bank and in hand | 54/58 | €48,425 | €81,693 | +€33,268 | +68.7% |
| Deferred charges and accrued income | 490/1 | €555 | €589 | +€35 | +6.2% |
| Total equity and liabilities | 10/49 | €297,489 | €345,809 | +€48,320 | +16.2% |
| Equity | 10/15 | €110,581 | €172,272 | +€61,692 | +55.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €98,897 | €160,808 | +€61,911 | +62.6% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €97,037 | €158,948 | +€61,911 | +63.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Investment grants | 15 | €5,483 | €5,264 | -€219 | -4.0% |
| Amounts payable | 17/49 | €186,908 | €173,537 | -€13,371 | -7.2% |
| Amounts payable after more than one year | 17 | €99,418 | €92,094 | -€7,325 | -7.4% |
| Financial debts | 170/4 | €99,418 | €92,094 | -€7,325 | -7.4% |
| Amounts payable within one year | 42/48 | €87,202 | €81,144 | -€6,058 | -6.9% |
| Current portion of amounts payable after more than one year | 42 | €7,194 | €7,325 | +€131 | +1.8% |
| Trade debts | 44 | €7,508 | €6,939 | -€569 | -7.6% |
| Suppliers | 440/4 | €7,508 | €6,939 | -€569 | -7.6% |
| Taxes, remuneration and social security | 45 | €13,363 | €37,730 | +€24,368 | +182% |
| Taxes | 450/3 | €13,363 | €37,730 | +€24,368 | +182% |
| Other amounts payable | 47/48 | €59,138 | €29,151 | -€29,987 | -50.7% |
| Accrued charges and deferred income | 492/3 | €288 | €299 | +€11 | +3.9% |
| Non-recurring operating income | 76A | €150 | €653 | +€503 | +336% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,198 | €6,500 | +€302 | +4.9% |
| Other operating charges | 640/8 | €1,973 | €744 | -€1,229 | -62.3% |
| Non-recurring operating charges | 66A | €2 | €0 | -€2 | -100% |
| Gross operating margin | 9900 | €83,892 | €138,398 | +€54,506 | +65.0% |
| Operating profit (loss) | 9901 | €75,720 | €131,154 | +€55,434 | +73.2% |
| Financial income | 75/76B | €4,107 | €1,840 | -€2,267 | -55.2% |
| Recurring financial income | 75 | €4,107 | €1,840 | -€2,267 | -55.2% |
| Financial charges | 65/66B | €2,233 | €1,992 | -€242 | -10.8% |
| Recurring financial charges | 65 | €2,233 | €1,992 | -€242 | -10.8% |
| Non-recurring financial charges | 66B | €0 | - | = | |
| Profit (loss) for the period before taxes | 9903 | €77,594 | €131,003 | +€53,409 | +68.8% |
| Income taxes | 67/77 | €22,180 | €39,941 | +€17,761 | +80.1% |
| Profit (loss) for the period | 9904 | €55,414 | €91,062 | +€35,648 | +64.3% |
| Profit (loss) for the period to be appropriated | 9905 | €55,414 | €91,062 | +€35,648 | +64.3% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 22 October 2026 via checked.be.