Alteo Recruitment: what changed
Alteo Recruitment
Largest movements
- Receivables within one year -€144,372
down €144,372 (-56.5%), from €255,321 to €110,949
of which Trade receivables: -€147,242
- Cash +€10,110
new in 2025: €10,110
mainly Receivables within one year (+€144,372) and Current portion of long-term debt (+€25,542)
- Tangible fixed assets -€3,935
down €3,935 (-37.9%), from €10,395 to €6,460
of which Furniture and vehicles: -€3,463
- Deferred charges and accrued income -€3,831
down €3,831 (-100%), from €3,831 to €0
- Tax, wage and social debts -€68,456
down €68,456 (-60.2%), from €113,696 to €45,240
of which Remuneration and social security: -€47,044
- Trade debts -€50,104
down €50,104 (-55.5%), from €90,297 to €40,193
- Short-term financial debts -€29,471
no longer reported in 2025 (was €29,471)
- Current portion of long-term debt +€25,542
up €25,542 (+259%), from €9,847 to €35,389
- Other debts -€18,080
down €18,080 (-61.1%), from €29,570 to €11,491
- Gross operating margin -€182,646
down €182,646 (-41.9%), from €435,942 to €253,297
- Staff costs -€101,163
down €101,163 (-32.0%), from €316,585 to €215,423
- Financial charges -€24,884
down €24,884 (-51.2%), from €48,562 to €23,678
- Taxes -€11,963
down €11,963 (-56.9%), from €21,023 to €9,060
- Financial income +€4,679
up €4,679 (+10,240%), from €46 to €4,724
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €269,547 | €127,519 | -€142,028 | -52.7% |
| Fixed assets | 21/28 | €10,395 | €6,460 | -€3,935 | -37.9% |
| Tangible fixed assets | 22/27 | €10,395 | €6,460 | -€3,935 | -37.9% |
| Furniture and vehicles | 24 | €8,616 | €5,152 | -€3,463 | -40.2% |
| Other tangible fixed assets | 26 | €1,779 | €1,308 | -€472 | -26.5% |
| Current assets | 29/58 | €259,152 | €121,059 | -€138,093 | -53.3% |
| Amounts receivable within one year | 40/41 | €255,321 | €110,949 | -€144,372 | -56.5% |
| Trade receivables | 40 | €244,100 | €96,857 | -€147,242 | -60.3% |
| Other amounts receivable | 41 | €11,222 | €14,092 | +€2,870 | +25.6% |
| Cash at bank and in hand | 54/58 | - | €10,110 | +€10,110 | |
| Deferred charges and accrued income | 490/1 | €3,831 | €0 | -€3,831 | -100% |
| Total equity and liabilities | 10/49 | €269,547 | €127,519 | -€142,028 | -52.7% |
| Equity | 10/15 | -€8,723 | -€4,794 | +€3,929 | +45.0% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€23,723 | -€19,794 | +€3,929 | +16.6% |
| Amounts payable | 17/49 | €278,270 | €132,313 | -€145,957 | -52.5% |
| Amounts payable after more than one year | 17 | €5,389 | €0 | -€5,389 | -100% |
| Financial debts | 170/4 | €5,389 | €0 | -€5,389 | -100% |
| Amounts payable within one year | 42/48 | €272,881 | €132,313 | -€140,568 | -51.5% |
| Current portion of amounts payable after more than one year | 42 | €9,847 | €35,389 | +€25,542 | +259% |
| Financial debts | 43 | €29,471 | - | -€29,471 | |
| Credit institutions | 430/8 | €29,471 | - | -€29,471 | |
| Trade debts | 44 | €90,297 | €40,193 | -€50,104 | -55.5% |
| Suppliers | 440/4 | €90,297 | €40,193 | -€50,104 | -55.5% |
| Taxes, remuneration and social security | 45 | €113,696 | €45,240 | -€68,456 | -60.2% |
| Taxes | 450/3 | €58,242 | €36,830 | -€21,412 | -36.8% |
| Remuneration and social security | 454/9 | €55,454 | €8,410 | -€47,044 | -84.8% |
| Other amounts payable | 47/48 | €29,570 | €11,491 | -€18,080 | -61.1% |
| Remuneration, social security and pensions | 62 | €316,585 | €215,423 | -€101,163 | -32.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,048 | €3,935 | -€113 | -2.8% |
| Other operating charges | 640/8 | €1,115 | €1,996 | +€881 | +79.0% |
| Gross operating margin | 9900 | €435,942 | €253,297 | -€182,646 | -41.9% |
| Operating profit (loss) | 9901 | €114,194 | €31,943 | -€82,251 | -72.0% |
| Financial income | 75/76B | €46 | €4,724 | +€4,679 | +10,240% |
| Recurring financial income | 75 | €46 | €4,724 | +€4,679 | +10,240% |
| Financial charges | 65/66B | €48,562 | €23,678 | -€24,884 | -51.2% |
| Recurring financial charges | 65 | €48,562 | €23,678 | -€24,884 | -51.2% |
| Profit (loss) for the period before taxes | 9903 | €65,678 | €12,989 | -€52,689 | -80.2% |
| Income taxes | 67/77 | €21,023 | €9,060 | -€11,963 | -56.9% |
| Profit (loss) for the period | 9904 | €44,655 | €3,929 | -€40,726 | -91.2% |
| Profit (loss) for the period to be appropriated | 9905 | €44,655 | €3,929 | -€40,726 | -91.2% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.