ALTER Holding: 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 Holding
Largest movements
- Tangible fixed assets +€307,343
up €307,343 (+30.6%), from €1.0m to €1.3m
of which Assets under construction and advance payments: +€334,883
- Cash +€48,292
up €48,292 (+5.7%), from €844,551 to €892,843
mainly Net result for the year (+€358,011) and Depreciation (+€27,540)
- Profit (loss) carried forward +€358,011
up €358,011 (+11.7%), from €3.1m to €3.4m
- Financial income -€24,788
down €24,788 (-5.5%), from €447,868 to €423,081
- Gross operating margin -€17,058
down €17,058 (-129.2%), from -€13,207 to -€30,265
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 | €3,308,550 | €3,655,317 | +€346,768 | +10.5% |
| Fixed assets | 21/28 | €1,055,847 | €1,363,190 | +€307,343 | +29.1% |
| Tangible fixed assets | 22/27 | €1,003,047 | €1,310,390 | +€307,343 | +30.6% |
| Land and buildings | 22 | €985,971 | €958,431 | -€27,540 | -2.8% |
| Assets under construction and advance payments | 27 | €17,076 | €351,959 | +€334,883 | +1961.1% |
| Financial fixed assets | 28 | €52,800 | €52,800 | = | 0.0% |
| Current assets | 29/58 | €2,252,703 | €2,292,127 | +€39,425 | +1.8% |
| Amounts receivable within one year | 40/41 | €30,152 | €21,285 | -€8,867 | -29.4% |
| Other amounts receivable | 41 | €30,152 | €21,285 | -€8,867 | -29.4% |
| Current investments | 50/53 | €1,378,000 | €1,378,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €844,551 | €892,843 | +€48,292 | +5.7% |
| Total equity and liabilities | 10/49 | €3,308,550 | €3,655,317 | +€346,768 | +10.5% |
| Equity | 10/15 | €3,074,306 | €3,432,317 | +€358,011 | +11.6% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €2,000 | €2,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €3,052,306 | €3,410,317 | +€358,011 | +11.7% |
| Amounts payable | 17/49 | €234,244 | €223,000 | -€11,244 | -4.8% |
| Amounts payable within one year | 42/48 | €234,244 | €223,000 | -€11,244 | -4.8% |
| Trade debts | 44 | €11,244 | - | -€11,244 | |
| Suppliers | 440/4 | €11,244 | - | -€11,244 | |
| Other amounts payable | 47/48 | €223,000 | €223,000 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,540 | €27,540 | = | 0.0% |
| Other operating charges | 640/8 | €6,850 | €7,066 | +€216 | +3.2% |
| Gross operating margin | 9900 | -€13,207 | -€30,265 | -€17,058 | -129.2% |
| Operating profit (loss) | 9901 | -€47,597 | -€64,871 | -€17,274 | -36.3% |
| Financial income | 75/76B | €447,868 | €423,081 | -€24,788 | -5.5% |
| Recurring financial income | 75 | €447,868 | €423,081 | -€24,788 | -5.5% |
| Financial charges | 65/66B | €140 | €199 | +€58 | +41.5% |
| Recurring financial charges | 65 | €140 | €199 | +€58 | +41.5% |
| Profit (loss) for the period before taxes | 9903 | €400,131 | €358,011 | -€42,120 | -10.5% |
| Profit (loss) for the period | 9904 | €400,131 | €358,011 | -€42,120 | -10.5% |
| Profit (loss) for the period to be appropriated | 9905 | €400,131 | €358,011 | -€42,120 | -10.5% |
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 11 October 2026 via checked.be.