ALTERNA: what changed
Two fiscal 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.
ALTERNA
Largest movements
- Tangible fixed assets -€123,346
down €123,346 (-8.9%), from €1.4m to €1.3m
of which Land and buildings: -€109,135
- Cash +€36,156
up €36,156 (+25.9%), from €139,838 to €175,994
mainly Depreciation (+€123,346) and Tax, wage and social debts (+€21,488)
- Debts after one year -€125,706
down €125,706 (-15.6%), from €808,348 to €682,642
- Tax, wage and social debts +€21,488
up €21,488 (+177.0%), from €12,139 to €33,627
of which Taxes: +€19,631
- Staff costs -€30,302
down €30,302 (-23.8%), from €127,354 to €97,052
- Taxes +€18,032
new in 2025: €18,032
- Gross operating margin -€7,989
down €7,989 (-2.6%), from €310,815 to €302,826
- Depreciation -€7,865
down €7,865 (-6.0%), from €131,211 to €123,346
- Financial charges -€5,992
down €5,992 (-12.4%), from €48,410 to €42,418
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 | €1,668,374 | €1,577,276 | -€91,098 | -5.5% |
| Fixed assets | 21/28 | €1,481,115 | €1,357,769 | -€123,346 | -8.3% |
| Tangible fixed assets | 22/27 | €1,391,064 | €1,267,718 | -€123,346 | -8.9% |
| Land and buildings | 22 | €1,294,162 | €1,185,027 | -€109,135 | -8.4% |
| Plant, machinery and equipment | 23 | €76,533 | €62,978 | -€13,555 | -17.7% |
| Furniture and vehicles | 24 | €1,969 | €1,313 | -€656 | -33.3% |
| Other tangible fixed assets | 26 | €18,400 | €18,400 | = | 0.0% |
| Financial fixed assets | 28 | €90,051 | €90,051 | = | 0.0% |
| Current assets | 29/58 | €187,259 | €219,507 | +€32,248 | +17.2% |
| Amounts receivable within one year | 40/41 | €42,279 | €37,956 | -€4,323 | -10.2% |
| Trade receivables | 40 | €40,546 | €35,643 | -€4,903 | -12.1% |
| Other amounts receivable | 41 | €1,733 | €2,313 | +€580 | +33.5% |
| Cash at bank and in hand | 54/58 | €139,838 | €175,994 | +€36,156 | +25.9% |
| Deferred charges and accrued income | 490/1 | €5,142 | €5,557 | +€415 | +8.1% |
| Total equity and liabilities | 10/49 | €1,668,374 | €1,577,276 | -€91,098 | -5.5% |
| Equity | 10/15 | €654,563 | €647,185 | -€7,378 | -1.1% |
| Contributions | 10/11 | €267,200 | €267,200 | = | 0.0% |
| Capital | 10 | €267,200 | €267,200 | = | 0.0% |
| Issued capital | 100 | €267,200 | €267,200 | = | 0.0% |
| Revaluation surpluses | 12 | €750,000 | €750,000 | = | 0.0% |
| Reserves | 13 | €774,700 | €774,700 | = | 0.0% |
| Non-distributable reserves | 130/1 | €24,700 | €24,700 | = | 0.0% |
| Legal reserve | 130 | €24,700 | €24,700 | = | 0.0% |
| Distributable reserves | 133 | €750,000 | €750,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,137,337 | -€1,144,715 | -€7,378 | -0.6% |
| Amounts payable | 17/49 | €1,013,811 | €930,091 | -€83,720 | -8.3% |
| Amounts payable after more than one year | 17 | €808,348 | €682,642 | -€125,706 | -15.6% |
| Financial debts | 170/4 | €808,348 | €682,642 | -€125,706 | -15.6% |
| Amounts payable within one year | 42/48 | €205,332 | €246,904 | +€41,572 | +20.2% |
| Current portion of amounts payable after more than one year | 42 | €123,216 | €125,706 | +€2,490 | +2.0% |
| Trade debts | 44 | €64,150 | €78,815 | +€14,665 | +22.9% |
| Suppliers | 440/4 | €64,150 | €78,815 | +€14,665 | +22.9% |
| Taxes, remuneration and social security | 45 | €12,139 | €33,627 | +€21,488 | +177.0% |
| Taxes | 450/3 | €5,789 | €25,420 | +€19,631 | +339.1% |
| Remuneration and social security | 454/9 | €6,350 | €8,207 | +€1,857 | +29.2% |
| Other amounts payable | 47/48 | €5,827 | €8,756 | +€2,929 | +50.3% |
| Accrued charges and deferred income | 492/3 | €131 | €545 | +€414 | +316.0% |
| Remuneration, social security and pensions | 62 | €127,354 | €97,052 | -€30,302 | -23.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €131,211 | €123,346 | -€7,865 | -6.0% |
| Other operating charges | 640/8 | €26,975 | €29,771 | +€2,796 | +10.4% |
| Non-recurring operating charges | 66A | €75 | - | -€75 | |
| Gross operating margin | 9900 | €310,815 | €302,826 | -€7,989 | -2.6% |
| Operating profit (loss) | 9901 | €25,200 | €52,657 | +€27,457 | +109.0% |
| Financial income | 75/76B | - | €415 | +€415 | |
| Recurring financial income | 75 | - | €415 | +€415 | |
| Financial charges | 65/66B | €48,410 | €42,418 | -€5,992 | -12.4% |
| Recurring financial charges | 65 | €48,410 | €42,418 | -€5,992 | -12.4% |
| Profit (loss) for the period before taxes | 9903 | -€23,210 | €10,654 | +€33,864 | |
| Income taxes | 67/77 | - | €18,032 | +€18,032 | |
| Profit (loss) for the period | 9904 | -€23,210 | -€7,378 | +€15,832 | +68.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€23,210 | -€7,378 | +€15,832 | +68.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.