ALTERATE: 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.
ALTERATE
Largest movements
- Cash -€67,404
down €67,404 (-79.3%), from €84,966 to €17,562
mainly Contributions, distributions and other (-€96,483) and Other debts (-€66,753)
- Other debts -€66,753
down €66,753 (-75.7%), from €88,235 to €21,483
- Reserves -€2,959
no longer reported in 2025 (was €2,959)
- Gross operating margin +€17,314
up €17,314 (+16.5%), from €105,033 to €122,347
- Taxes +€3,069
up €3,069 (+14.0%), from €21,904 to €24,973
- Financial income -€2,010
no longer reported in 2025 (was €2,010)
- Financial charges +€1,640
up €1,640 (+150%), from €1,097 to €2,737
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 | €105,336 | €36,312 | -€69,024 | -65.5% |
| Fixed assets | 21/28 | €1,339 | €688 | -€650 | -48.6% |
| Tangible fixed assets | 22/27 | €1,339 | €688 | -€650 | -48.6% |
| Plant, machinery and equipment | 23 | €1,339 | €688 | -€650 | -48.6% |
| Current assets | 29/58 | €103,997 | €35,624 | -€68,374 | -65.7% |
| Amounts receivable within one year | 40/41 | €17,055 | €16,049 | -€1,006 | -5.9% |
| Trade receivables | 40 | €17,055 | €16,049 | -€1,006 | -5.9% |
| Cash at bank and in hand | 54/58 | €84,966 | €17,562 | -€67,404 | -79.3% |
| Deferred charges and accrued income | 490/1 | €1,977 | €2,013 | +€36 | +1.8% |
| Total equity and liabilities | 10/49 | €105,336 | €36,312 | -€69,024 | -65.5% |
| Equity | 10/15 | €5,959 | €3,000 | -€2,959 | -49.7% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €2,959 | - | -€2,959 | |
| Distributable reserves | 133 | €2,959 | - | -€2,959 | |
| Amounts payable | 17/49 | €99,377 | €33,312 | -€66,066 | -66.5% |
| Amounts payable within one year | 42/48 | €99,372 | €33,312 | -€66,060 | -66.5% |
| Trade debts | 44 | €235 | €180 | -€55 | -23.3% |
| Suppliers | 440/4 | €235 | €180 | -€55 | -23.3% |
| Taxes, remuneration and social security | 45 | €10,902 | €11,649 | +€747 | +6.9% |
| Taxes | 450/3 | €10,902 | €11,649 | +€747 | +6.9% |
| Other amounts payable | 47/48 | €88,235 | €21,483 | -€66,753 | -75.7% |
| Accrued charges and deferred income | 492/3 | €5 | - | -€5 | |
| Non-recurring operating income | 76A | - | €2,528 | +€2,528 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,277 | €650 | -€626 | -49.0% |
| Other operating charges | 640/8 | €387 | €463 | +€76 | +19.6% |
| Gross operating margin | 9900 | €105,033 | €122,347 | +€17,314 | +16.5% |
| Operating profit (loss) | 9901 | €103,369 | €121,234 | +€17,864 | +17.3% |
| Financial income | 75/76B | €2,010 | - | -€2,010 | |
| Recurring financial income | 75 | €2,010 | - | -€2,010 | |
| Financial charges | 65/66B | €1,097 | €2,737 | +€1,640 | +150% |
| Recurring financial charges | 65 | €1,097 | €2,737 | +€1,640 | +150% |
| Profit (loss) for the period before taxes | 9903 | €104,283 | €118,497 | +€14,214 | +13.6% |
| Income taxes | 67/77 | €21,904 | €24,973 | +€3,069 | +14.0% |
| Profit (loss) for the period | 9904 | €82,379 | €93,524 | +€11,145 | +13.5% |
| Profit (loss) for the period to be appropriated | 9905 | €82,379 | €93,524 | +€11,145 | +13.5% |
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 18 October 2026 via checked.be.