ALTERLINE: 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.
ALTERLINE
Largest movements
- Cash +€158,535
up €158,535 (+26.8%), from €592,165 to €750,700
mainly Receivables within one year (+€147,783) and Net result for the year (+€85,658)
- Receivables within one year -€147,783
down €147,783 (-39.2%), from €377,178 to €229,395
of which Trade receivables: -€129,618
- Other debts -€108,562
down €108,562 (-46.6%), from €232,739 to €124,177
- Reserves +€85,658
up €85,658 (+10.6%), from €808,823 to €894,481
of which Distributable reserves: +€87,658
- Trade debts +€47,568
up €47,568 (+1,120%), from €4,248 to €51,816
- Debts after one year -€29,317
down €29,317 (-9.3%), from €316,835 to €287,518
- Gross operating margin -€64,754
down €64,754 (-23.5%), from €275,336 to €210,582
- Financial charges +€52,942
up €52,942 (+1,243%), from €4,258 to €57,200
- Taxes -€23,773
down €23,773 (-34.6%), from €68,731 to €44,958
- Other operating charges -€18,534
down €18,534 (-62.5%), from €29,672 to €11,138
- Financial income -€11,203
down €11,203 (-79.5%), from €14,094 to €2,891
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 | €1,474,623 | €1,473,097 | -€1,526 | -0.1% |
| Fixed assets | 21/28 | €504,976 | €492,790 | -€12,187 | -2.4% |
| Tangible fixed assets | 22/27 | €488,626 | €477,540 | -€11,087 | -2.3% |
| Land and buildings | 22 | €487,497 | €473,752 | -€13,745 | -2.8% |
| Furniture and vehicles | 24 | €1,130 | €3,788 | +€2,658 | +235% |
| Financial fixed assets | 28 | €16,350 | €15,250 | -€1,100 | -6.7% |
| Current assets | 29/58 | €969,646 | €980,307 | +€10,661 | +1.1% |
| Amounts receivable within one year | 40/41 | €377,178 | €229,395 | -€147,783 | -39.2% |
| Trade receivables | 40 | €289,085 | €159,467 | -€129,618 | -44.8% |
| Other amounts receivable | 41 | €88,093 | €69,928 | -€18,165 | -20.6% |
| Cash at bank and in hand | 54/58 | €592,165 | €750,700 | +€158,535 | +26.8% |
| Deferred charges and accrued income | 490/1 | €303 | €212 | -€92 | -30.2% |
| Total equity and liabilities | 10/49 | €1,474,623 | €1,473,097 | -€1,526 | -0.1% |
| Equity | 10/15 | €889,168 | €974,827 | +€85,658 | +9.6% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €808,823 | €894,481 | +€85,658 | +10.6% |
| Non-distributable reserves | 130/1 | €2,000 | - | -€2,000 | |
| Other | 1319 | €2,000 | - | -€2,000 | |
| Distributable reserves | 133 | €806,823 | €894,481 | +€87,658 | +10.9% |
| Profit (loss) carried forward | 14 | €60,345 | €60,345 | = | 0.0% |
| Amounts payable | 17/49 | €585,454 | €498,270 | -€87,184 | -14.9% |
| Amounts payable after more than one year | 17 | €316,835 | €287,518 | -€29,317 | -9.3% |
| Financial debts | 170/4 | €316,835 | €287,518 | -€29,317 | -9.3% |
| Amounts payable within one year | 42/48 | €267,630 | €209,605 | -€58,025 | -21.7% |
| Current portion of amounts payable after more than one year | 42 | €29,040 | €29,317 | +€278 | +1.0% |
| Trade debts | 44 | €4,248 | €51,816 | +€47,568 | +1,120% |
| Suppliers | 440/4 | €4,248 | €51,816 | +€47,568 | +1,120% |
| Taxes, remuneration and social security | 45 | €1,604 | €4,294 | +€2,690 | +168% |
| Taxes | 450/3 | €1,604 | €4,294 | +€2,690 | +168% |
| Other amounts payable | 47/48 | €232,739 | €124,177 | -€108,562 | -46.6% |
| Accrued charges and deferred income | 492/3 | €989 | €1,147 | +€158 | +16.0% |
| Non-recurring operating income | 76A | €12,179 | €12,179 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,601 | €14,519 | -€81 | -0.6% |
| Other operating charges | 640/8 | €29,672 | €11,138 | -€18,534 | -62.5% |
| Gross operating margin | 9900 | €275,336 | €210,582 | -€64,754 | -23.5% |
| Operating profit (loss) | 9901 | €231,064 | €184,925 | -€46,139 | -20.0% |
| Financial income | 75/76B | €14,094 | €2,891 | -€11,203 | -79.5% |
| Recurring financial income | 75 | €14,094 | €2,891 | -€11,203 | -79.5% |
| Financial charges | 65/66B | €4,258 | €57,200 | +€52,942 | +1,243% |
| Recurring financial charges | 65 | €4,258 | €57,200 | +€52,942 | +1,243% |
| Profit (loss) for the period before taxes | 9903 | €240,900 | €130,616 | -€110,283 | -45.8% |
| Income taxes | 67/77 | €68,731 | €44,958 | -€23,773 | -34.6% |
| Profit (loss) for the period | 9904 | €172,168 | €85,658 | -€86,510 | -50.2% |
| Profit (loss) for the period to be appropriated | 9905 | €172,168 | €85,658 | -€86,510 | -50.2% |
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 15 October 2026 via checked.be.