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 -€45,318
down €45,318 (-5.4%), from €833,220 to €787,902
of which Land and buildings: -€39,516
- Profit (loss) carried forward -€28,482
down €28,482 (-39.4%), from -€72,375 to -€100,857
- Other debts +€28,343
up €28,343 (+21.8%), from €130,232 to €158,575
- Debts after one year -€25,013
down €25,013 (-7.4%), from €339,629 to €314,616
- Trade debts -€16,414
down €16,414 (-48.6%), from €33,788 to €17,374
- Gross operating margin -€9,586
down €9,586 (-26.4%), from €36,301 to €26,715
- Financial charges +€2,619
up €2,619 (+30.7%), from €8,525 to €11,144
- Other operating charges -€1,365
down €1,365 (-36.1%), from €3,777 to €2,412
- Depreciation +€1,205
up €1,205 (+2.8%), from €42,404 to €43,609
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 | €858,118 | €805,907 | -€52,211 | -6.1% |
| Fixed assets | 21/28 | €833,680 | €788,362 | -€45,318 | -5.4% |
| Tangible fixed assets | 22/27 | €833,220 | €787,902 | -€45,318 | -5.4% |
| Land and buildings | 22 | €812,919 | €773,403 | -€39,516 | -4.9% |
| Plant, machinery and equipment | 23 | €18,051 | €13,038 | -€5,013 | -27.8% |
| Furniture and vehicles | 24 | €2,251 | €1,461 | -€790 | -35.1% |
| Financial fixed assets | 28 | €460 | €460 | = | 0.0% |
| Current assets | 29/58 | €24,438 | €17,545 | -€6,893 | -28.2% |
| Amounts receivable within one year | 40/41 | €12,291 | €12,566 | +€275 | +2.2% |
| Trade receivables | 40 | €9,965 | €10,732 | +€767 | +7.7% |
| Other amounts receivable | 41 | €2,326 | €1,834 | -€492 | -21.1% |
| Cash at bank and in hand | 54/58 | €12,147 | €4,979 | -€7,168 | -59.0% |
| Total equity and liabilities | 10/49 | €858,118 | €805,907 | -€52,211 | -6.1% |
| Equity | 10/15 | €319,095 | €287,574 | -€31,521 | -9.9% |
| Contributions | 10/11 | €116,300 | €116,300 | = | 0.0% |
| Revaluation surpluses | 12 | €227,694 | €227,694 | +€0 | 0.0% |
| Reserves | 13 | €12,880 | €12,880 | = | 0.0% |
| Distributable reserves | 133 | €12,880 | €12,880 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€72,375 | -€100,857 | -€28,482 | -39.4% |
| Investment grants | 15 | €34,596 | €31,557 | -€3,039 | -8.8% |
| Amounts payable | 17/49 | €539,023 | €518,333 | -€20,690 | -3.8% |
| Amounts payable after more than one year | 17 | €339,629 | €314,616 | -€25,013 | -7.4% |
| Financial debts | 170/4 | €339,629 | €314,616 | -€25,013 | -7.4% |
| Amounts payable within one year | 42/48 | €199,394 | €203,717 | +€4,323 | +2.2% |
| Current portion of amounts payable after more than one year | 42 | €35,200 | €27,623 | -€7,577 | -21.5% |
| Trade debts | 44 | €33,788 | €17,374 | -€16,414 | -48.6% |
| Suppliers | 440/4 | €33,788 | €17,374 | -€16,414 | -48.6% |
| Taxes, remuneration and social security | 45 | €174 | €145 | -€29 | -16.9% |
| Taxes | 450/3 | €174 | €145 | -€29 | -16.9% |
| Other amounts payable | 47/48 | €130,232 | €158,575 | +€28,343 | +21.8% |
| Remuneration, social security and pensions | 62 | €1,130 | €930 | -€200 | -17.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,404 | €43,609 | +€1,205 | +2.8% |
| Other operating charges | 640/8 | €3,777 | €2,412 | -€1,365 | -36.1% |
| Gross operating margin | 9900 | €36,301 | €26,715 | -€9,586 | -26.4% |
| Operating profit (loss) | 9901 | -€11,010 | -€20,236 | -€9,226 | -83.8% |
| Financial income | 75/76B | €3,082 | €3,039 | -€43 | -1.4% |
| Recurring financial income | 75 | €3,082 | €3,039 | -€43 | -1.4% |
| Financial charges | 65/66B | €8,525 | €11,144 | +€2,619 | +30.7% |
| Recurring financial charges | 65 | €8,525 | €11,144 | +€2,619 | +30.7% |
| Profit (loss) for the period before taxes | 9903 | -€16,453 | -€28,341 | -€11,888 | -72.3% |
| Income taxes | 67/77 | €207 | €141 | -€66 | -32.0% |
| Profit (loss) for the period | 9904 | -€16,660 | -€28,482 | -€11,822 | -71.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€16,660 | -€28,482 | -€11,822 | -71.0% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.