ALTER INVEST: 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 INVEST
Largest movements
- Tangible fixed assets -€12,514
down €12,514 (-4.2%), from €295,297 to €282,783
- Other debts -€10,000
down €10,000 (-26.7%), from €37,477 to €27,477
- Financial charges -€3,393
down €3,393 (-99.3%), from €3,417 to €24
- Gross operating margin +€533
up €533 (+5.2%), from €10,205 to €10,738
- Purchases and services -€323
down €323 (-9.1%), from €3,545 to €3,222
- Turnover +€210
up €210 (+1.5%), from €13,750 to €13,960
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 | €332,074 | €320,184 | -€11,890 | -3.6% |
| Fixed assets | 21/28 | €295,297 | €282,783 | -€12,514 | -4.2% |
| Tangible fixed assets | 22/27 | €295,297 | €282,783 | -€12,514 | -4.2% |
| Land and buildings | 22 | €295,297 | €282,783 | -€12,514 | -4.2% |
| Current assets | 29/58 | €36,777 | €37,401 | +€624 | +1.7% |
| Cash at bank and in hand | 54/58 | €36,732 | €37,401 | +€669 | +1.8% |
| Deferred charges and accrued income | 490/1 | €45 | - | -€45 | |
| Total equity and liabilities | 10/49 | €332,074 | €320,184 | -€11,890 | -3.6% |
| Equity | 10/15 | -€6,918 | -€8,718 | -€1,800 | -26.0% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €9,214 | €9,214 | = | 0.0% |
| Distributable reserves | 133 | €9,214 | €9,214 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€78,132 | -€79,932 | -€1,800 | -2.3% |
| Amounts payable | 17/49 | €338,992 | €328,902 | -€10,090 | -3.0% |
| Amounts payable after more than one year | 17 | €301,320 | €301,275 | -€45 | 0.0% |
| Other amounts payable | 178/9 | €301,320 | €301,275 | -€45 | 0.0% |
| Amounts payable within one year | 42/48 | €37,477 | €27,477 | -€10,000 | -26.7% |
| Other amounts payable | 47/48 | €37,477 | €27,477 | -€10,000 | -26.7% |
| Accrued charges and deferred income | 492/3 | €195 | €150 | -€45 | -23.1% |
| Turnover | 70 | €13,750 | €13,960 | +€210 | +1.5% |
| Goods, raw materials, services and sundry goods | 60/61 | €3,545 | €3,222 | -€323 | -9.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,514 | €12,514 | = | 0.0% |
| Gross operating margin | 9900 | €10,205 | €10,738 | +€533 | +5.2% |
| Operating profit (loss) | 9901 | -€2,309 | -€1,776 | +€533 | +23.1% |
| Financial charges | 65/66B | €3,417 | €24 | -€3,393 | -99.3% |
| Recurring financial charges | 65 | €3,417 | €24 | -€3,393 | -99.3% |
| Profit (loss) for the period before taxes | 9903 | -€5,726 | -€1,800 | +€3,926 | +68.6% |
| Profit (loss) for the period | 9904 | -€5,726 | -€1,800 | +€3,926 | +68.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€5,726 | -€1,800 | +€3,926 | +68.6% |
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.