ALTER - ECO: 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.
ALTER - ECO
Largest movements
- Tangible fixed assets -€9,206
down €9,206 (-33.6%), from €27,418 to €18,212
of which Furniture and vehicles: -€8,627
- Cash +€4,235
up €4,235 (+38.2%), from €11,075 to €15,310
mainly Net result for the year (+€16,446) and Depreciation (+€15,609)
- Receivables within one year +€3,985
up €3,985 (+3.5%), from €114,445 to €118,430
of which Other amounts receivable: +€5,685
- Deferred charges and accrued income -€3,110
down €3,110 (-67.7%), from €4,592 to €1,482
- Reserves +€16,446
up €16,446 (+884.2%), from €1,860 to €18,306
- Trade debts -€9,976
down €9,976 (-82.6%), from €12,079 to €2,102
- Debts after one year -€6,866
down €6,866 (-100.0%), from €6,866 to €0
- Current portion of long-term debt -€3,316
down €3,316 (-32.6%), from €10,183 to €6,866
- Other debts -€3,131
down €3,131 (-23.4%), from €13,371 to €10,241
- Gross operating margin +€10,525
up €10,525 (+58.1%), from €18,102 to €28,627
- Depreciation +€2,242
up €2,242 (+16.8%), from €13,367 to €15,609
- Taxes +€1,564
up €1,564 (+718.1%), from €218 to €1,782
- Other operating charges +€586
up €586 (+187.5%), from €312 to €898
- Financial income -€448
down €448 (-5.7%), from €7,915 to €7,467
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €158,019 | €153,924 | -€4,096 | -2.6% |
| Fixed assets | 21/28 | €27,908 | €18,702 | -€9,206 | -33.0% |
| Tangible fixed assets | 22/27 | €27,418 | €18,212 | -€9,206 | -33.6% |
| Land and buildings | 22 | €238 | €192 | -€45 | -19.1% |
| Plant, machinery and equipment | 23 | €914 | €380 | -€534 | -58.4% |
| Furniture and vehicles | 24 | €26,267 | €17,640 | -€8,627 | -32.8% |
| Financial fixed assets | 28 | €490 | €490 | = | 0.0% |
| Current assets | 29/58 | €130,111 | €135,221 | +€5,110 | +3.9% |
| Amounts receivable within one year | 40/41 | €114,445 | €118,430 | +€3,985 | +3.5% |
| Trade receivables | 40 | €1,700 | €0 | -€1,700 | -100.0% |
| Other amounts receivable | 41 | €112,745 | €118,430 | +€5,685 | +5.0% |
| Cash at bank and in hand | 54/58 | €11,075 | €15,310 | +€4,235 | +38.2% |
| Deferred charges and accrued income | 490/1 | €4,592 | €1,482 | -€3,110 | -67.7% |
| Total equity and liabilities | 10/49 | €158,019 | €153,924 | -€4,096 | -2.6% |
| Equity | 10/15 | €104,669 | €121,115 | +€16,446 | +15.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €18,306 | +€16,446 | +884.2% |
| Distributable reserves | 133 | €1,860 | €18,306 | +€16,446 | +884.2% |
| Profit (loss) carried forward | 14 | €84,209 | €84,209 | = | 0.0% |
| Amounts payable | 17/49 | €53,350 | €32,809 | -€20,542 | -38.5% |
| Amounts payable after more than one year | 17 | €6,866 | €0 | -€6,866 | -100.0% |
| Financial debts | 170/4 | €6,866 | €0 | -€6,866 | -100.0% |
| Amounts payable within one year | 42/48 | €45,614 | €29,345 | -€16,269 | -35.7% |
| Current portion of amounts payable after more than one year | 42 | €10,183 | €6,866 | -€3,316 | -32.6% |
| Trade debts | 44 | €12,079 | €2,102 | -€9,976 | -82.6% |
| Suppliers | 440/4 | €12,079 | €2,102 | -€9,976 | -82.6% |
| Taxes, remuneration and social security | 45 | €9,982 | €10,136 | +€154 | +1.5% |
| Taxes | 450/3 | €9,867 | €10,136 | +€268 | +2.7% |
| Remuneration and social security | 454/9 | €114 | €0 | -€114 | -100.0% |
| Other amounts payable | 47/48 | €13,371 | €10,241 | -€3,131 | -23.4% |
| Accrued charges and deferred income | 492/3 | €870 | €3,464 | +€2,594 | +298.2% |
| Non-recurring operating income | 76A | €1,095 | €0 | -€1,095 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,367 | €15,609 | +€2,242 | +16.8% |
| Other operating charges | 640/8 | €312 | €898 | +€586 | +187.5% |
| Non-recurring operating charges | 66A | €768 | €0 | -€768 | -100.0% |
| Gross operating margin | 9900 | €18,102 | €28,627 | +€10,525 | +58.1% |
| Operating profit (loss) | 9901 | €3,655 | €12,120 | +€8,465 | +231.6% |
| Financial income | 75/76B | €7,915 | €7,467 | -€448 | -5.7% |
| Recurring financial income | 75 | €7,915 | €7,467 | -€448 | -5.7% |
| Financial charges | 65/66B | €1,408 | €1,359 | -€49 | -3.5% |
| Recurring financial charges | 65 | €1,408 | €1,359 | -€49 | -3.5% |
| Profit (loss) for the period before taxes | 9903 | €10,162 | €18,228 | +€8,066 | +79.4% |
| Income taxes | 67/77 | €218 | €1,782 | +€1,564 | +718.1% |
| Profit (loss) for the period | 9904 | €9,944 | €16,446 | +€6,502 | +65.4% |
| Profit (loss) for the period to be appropriated | 9905 | €9,944 | €16,446 | +€6,502 | +65.4% |
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 12 October 2026 via checked.be.