ALTERO: 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.
ALTERO
Largest movements
- Cash +€10,569
up €10,569 (+54.0%), from €19,572 to €30,142
mainly Net result for the year (+€17,005) and Other debts (+€7,728)
- Receivables within one year -€1,501
down €1,501 (-21.3%), from €7,033 to €5,532
- Receivables after one year +€891
up €891 (+6.6%), from €13,585 to €14,476
- Deferred charges and accrued income +€846
up €846 (+70.7%), from €1,197 to €2,043
- Intangible fixed assets -€620
no longer reported in 2025 (was €620)
- Reserves +€9,277
up €9,277 (+57.6%), from €16,110 to €25,387
- Other debts +€7,728
new in 2025: €7,728
- Tax, wage and social debts -€5,400
down €5,400 (-43.6%), from €12,378 to €6,977
of which Taxes: -€3,400
- Trade debts -€1,529
down €1,529 (-71.4%), from €2,142 to €613
- Gross operating margin +€19,278
up €19,278 (+233%), from €8,272 to €27,550
- Taxes +€6,667
up €6,667 (+280%), from €2,382 to €9,049
- Depreciation -€1,512
down €1,512 (-67.4%), from €2,242 to €730
- Financial charges -€494
down €494 (-40.7%), from €1,213 to €719
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 | €43,029 | €53,105 | +€10,076 | +23.4% |
| Fixed assets | 21/28 | €1,642 | €912 | -€730 | -44.4% |
| Intangible fixed assets | 21 | €620 | - | -€620 | |
| Tangible fixed assets | 22/27 | €1,022 | €912 | -€110 | -10.7% |
| Other tangible fixed assets | 26 | €1,022 | €912 | -€110 | -10.7% |
| Current assets | 29/58 | €41,387 | €52,193 | +€10,806 | +26.1% |
| Amounts receivable after more than one year | 29 | €13,585 | €14,476 | +€891 | +6.6% |
| Other amounts receivable | 291 | €13,585 | €14,476 | +€891 | +6.6% |
| Amounts receivable within one year | 40/41 | €7,033 | €5,532 | -€1,501 | -21.3% |
| Trade receivables | 40 | €7,033 | €5,532 | -€1,501 | -21.3% |
| Cash at bank and in hand | 54/58 | €19,572 | €30,142 | +€10,569 | +54.0% |
| Deferred charges and accrued income | 490/1 | €1,197 | €2,043 | +€846 | +70.7% |
| Total equity and liabilities | 10/49 | €43,029 | €53,105 | +€10,076 | +23.4% |
| Equity | 10/15 | €28,510 | €37,787 | +€9,277 | +32.5% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €16,110 | €25,387 | +€9,277 | +57.6% |
| Distributable reserves | 133 | €16,110 | €25,387 | +€9,277 | +57.6% |
| Amounts payable | 17/49 | €14,519 | €15,318 | +€799 | +5.5% |
| Amounts payable within one year | 42/48 | €14,519 | €15,318 | +€799 | +5.5% |
| Trade debts | 44 | €2,142 | €613 | -€1,529 | -71.4% |
| Suppliers | 440/4 | €2,142 | €613 | -€1,529 | -71.4% |
| Taxes, remuneration and social security | 45 | €12,378 | €6,977 | -€5,400 | -43.6% |
| Taxes | 450/3 | €10,378 | €6,977 | -€3,400 | -32.8% |
| Remuneration and social security | 454/9 | €2,000 | - | -€2,000 | |
| Other amounts payable | 47/48 | - | €7,728 | +€7,728 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,242 | €730 | -€1,512 | -67.4% |
| Other operating charges | 640/8 | €710 | €823 | +€113 | +15.9% |
| Gross operating margin | 9900 | €8,272 | €27,550 | +€19,278 | +233% |
| Operating profit (loss) | 9901 | €5,320 | €25,997 | +€20,677 | +389% |
| Financial income | 75/76B | €679 | €775 | +€97 | +14.3% |
| Recurring financial income | 75 | €679 | €775 | +€97 | +14.3% |
| Financial charges | 65/66B | €1,213 | €719 | -€494 | -40.7% |
| Recurring financial charges | 65 | €1,213 | €719 | -€494 | -40.7% |
| Profit (loss) for the period before taxes | 9903 | €4,785 | €26,054 | +€21,268 | +444% |
| Income taxes | 67/77 | €2,382 | €9,049 | +€6,667 | +280% |
| Profit (loss) for the period | 9904 | €2,404 | €17,005 | +€14,601 | +607% |
| Profit (loss) for the period to be appropriated | 9905 | €2,404 | €17,005 | +€14,601 | +607% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.