ALTENA PROJECTS: 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.
ALTENA PROJECTS
Largest movements
- Tangible fixed assets -€69,848
down €69,848 (-90.9%), from €76,872 to €7,023
of which Land and buildings: -€71,713
- Cash +€27,106
up €27,106 (+45.6%), from €59,429 to €86,535
mainly Investment in fixed assets (net) (+€67,176) and Other debts (+€22,114)
- Receivables within one year -€8,856
down €8,856 (-82.1%), from €10,793 to €1,937
of which Other amounts receivable: -€4,789
- Debts after one year -€37,482
no longer reported in 2025 (was €37,482)
- Reserves -€26,620
down €26,620 (-55.3%), from €48,109 to €21,489
- Other debts +€22,114
up €22,114 (+75.8%), from €29,191 to €51,305
- Tax, wage and social debts +€7,355
new in 2025: €7,355
of which Taxes: +€7,310
- Current portion of long-term debt -€6,879
no longer reported in 2025 (was €6,879)
- Gross operating margin +€20,226
up €20,226 (+103%), from €19,684 to €39,910
- Taxes +€6,374
up €6,374 (+263%), from €2,422 to €8,797
- Depreciation -€757
down €757 (-22.1%), from €3,429 to €2,672
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 | €148,323 | €96,952 | -€51,371 | -34.6% |
| Fixed assets | 21/28 | €76,872 | €7,023 | -€69,848 | -90.9% |
| Tangible fixed assets | 22/27 | €76,872 | €7,023 | -€69,848 | -90.9% |
| Land and buildings | 22 | €71,713 | - | -€71,713 | |
| Plant, machinery and equipment | 23 | €4,893 | €5,153 | +€261 | +5.3% |
| Furniture and vehicles | 24 | €266 | €0 | -€266 | -100% |
| Other tangible fixed assets | 26 | - | €1,870 | +€1,870 | |
| Current assets | 29/58 | €71,452 | €89,929 | +€18,477 | +25.9% |
| Amounts receivable within one year | 40/41 | €10,793 | €1,937 | -€8,856 | -82.1% |
| Trade receivables | 40 | €5,476 | €1,409 | -€4,067 | -74.3% |
| Other amounts receivable | 41 | €5,317 | €528 | -€4,789 | -90.1% |
| Cash at bank and in hand | 54/58 | €59,429 | €86,535 | +€27,106 | +45.6% |
| Deferred charges and accrued income | 490/1 | €1,230 | €1,457 | +€227 | +18.5% |
| Total equity and liabilities | 10/49 | €148,323 | €96,952 | -€51,371 | -34.6% |
| Equity | 10/15 | €61,109 | €34,489 | -€26,620 | -43.6% |
| Contributions | 10/11 | €13,000 | €13,000 | = | 0.0% |
| Reserves | 13 | €48,109 | €21,489 | -€26,620 | -55.3% |
| Distributable reserves | 133 | €48,109 | €21,489 | -€26,620 | -55.3% |
| Amounts payable | 17/49 | €87,214 | €62,464 | -€24,751 | -28.4% |
| Amounts payable after more than one year | 17 | €37,482 | - | -€37,482 | |
| Financial debts | 170/4 | €37,482 | - | -€37,482 | |
| Amounts payable within one year | 42/48 | €45,134 | €62,464 | +€17,330 | +38.4% |
| Current portion of amounts payable after more than one year | 42 | €6,879 | - | -€6,879 | |
| Trade debts | 44 | €9,064 | €3,803 | -€5,261 | -58.0% |
| Suppliers | 440/4 | €9,064 | €3,803 | -€5,261 | -58.0% |
| Taxes, remuneration and social security | 45 | - | €7,355 | +€7,355 | |
| Taxes | 450/3 | - | €7,310 | +€7,310 | |
| Remuneration and social security | 454/9 | - | €45 | +€45 | |
| Other amounts payable | 47/48 | €29,191 | €51,305 | +€22,114 | +75.8% |
| Accrued charges and deferred income | 492/3 | €4,599 | - | -€4,599 | |
| Non-recurring operating income | 76A | - | €46,025 | +€46,025 | |
| Remuneration, social security and pensions | 62 | €2,098 | €2,426 | +€328 | +15.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,429 | €2,672 | -€757 | -22.1% |
| Other operating charges | 640/8 | €2,095 | €1,940 | -€155 | -7.4% |
| Gross operating margin | 9900 | €19,684 | €39,910 | +€20,226 | +103% |
| Operating profit (loss) | 9901 | €12,063 | €32,872 | +€20,809 | +173% |
| Financial income | 75/76B | €154 | €11 | -€143 | -92.7% |
| Recurring financial income | 75 | €154 | €11 | -€143 | -92.7% |
| Financial charges | 65/66B | €2,553 | €2,598 | +€45 | +1.8% |
| Recurring financial charges | 65 | €2,553 | €2,598 | +€45 | +1.8% |
| Profit (loss) for the period before taxes | 9903 | €9,663 | €30,285 | +€20,622 | +213% |
| Income taxes | 67/77 | €2,422 | €8,797 | +€6,374 | +263% |
| Profit (loss) for the period | 9904 | €7,241 | €21,489 | +€14,247 | +197% |
| Profit (loss) for the period to be appropriated | 9905 | €7,241 | €21,489 | +€14,247 | +197% |
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 29 October 2026 via checked.be.