ALTERRAE: 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.
ALTERRAE
Largest movements
- Stocks and contracts -€2.5m
down €2.5m (-70.6%), from €3.5m to €1.0m
- Cash +€396,471
up €396,471 (+113.0%), from €350,795 to €747,266
mainly Stocks and contracts (+€2.5m)
- Receivables within one year +€323,907
up €323,907 (+1116.9%), from €29,000 to €352,907
of which Trade receivables: +€342,907
- Short-term financial debts -€1.1m
down €1.1m (-49.8%), from €2.2m to €1.1m
- Profit (loss) carried forward -€382,189
down €382,189, from €292,792 to -€89,397
- Other debts -€250,000
down €250,000 (-18.8%), from €1.3m to €1.1m
- Gross operating margin -€310,345
down €310,345 (-5851.0%), from -€5,304 to -€315,649
- Financial charges -€55,796
down €55,796 (-48.8%), from €114,349 to €58,553
- Other operating charges +€6,963
up €6,963 (+679.8%), from €1,024 to €7,987
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 | €3,863,107 | €2,124,817 | -€1.7m | -45.0% |
| Current assets | 29/58 | €3,863,107 | €2,124,817 | -€1.7m | -45.0% |
| Stocks and contracts in progress | 3 | €3,483,312 | €1,024,644 | -€2.5m | -70.6% |
| Stocks | 30/36 | €3,483,312 | €1,024,644 | -€2.5m | -70.6% |
| Amounts receivable within one year | 40/41 | €29,000 | €352,907 | +€323,907 | +1116.9% |
| Trade receivables | 40 | - | €342,907 | +€342,907 | |
| Other amounts receivable | 41 | €29,000 | €10,000 | -€19,000 | -65.5% |
| Cash at bank and in hand | 54/58 | €350,795 | €747,266 | +€396,471 | +113.0% |
| Total equity and liabilities | 10/49 | €3,863,107 | €2,124,817 | -€1.7m | -45.0% |
| Equity | 10/15 | €311,392 | -€70,797 | -€382,189 | |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €292,792 | -€89,397 | -€382,189 | |
| Amounts payable | 17/49 | €3,551,715 | €2,195,614 | -€1.4m | -38.2% |
| Amounts payable within one year | 42/48 | €3,551,715 | €2,195,614 | -€1.4m | -38.2% |
| Current portion of amounts payable after more than one year | 42 | €3,333 | €3,333 | = | 0.0% |
| Financial debts | 43 | €2,220,000 | €1,114,507 | -€1.1m | -49.8% |
| Credit institutions | 430/8 | €2,220,000 | €1,114,507 | -€1.1m | -49.8% |
| Trade debts | 44 | €608 | €0 | -€608 | -100.0% |
| Suppliers | 440/4 | €608 | €0 | -€608 | -100.0% |
| Other amounts payable | 47/48 | €1,327,774 | €1,077,774 | -€250,000 | -18.8% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Other operating charges | 640/8 | €1,024 | €7,987 | +€6,963 | +679.8% |
| Gross operating margin | 9900 | -€5,304 | -€315,649 | -€310,345 | -5851.0% |
| Operating profit (loss) | 9901 | -€6,328 | -€323,636 | -€317,308 | -5014.1% |
| Financial charges | 65/66B | €114,349 | €58,553 | -€55,796 | -48.8% |
| Recurring financial charges | 65 | €114,349 | €58,553 | -€55,796 | -48.8% |
| Profit (loss) for the period before taxes | 9903 | -€120,678 | -€382,189 | -€261,512 | -216.7% |
| Profit (loss) for the period | 9904 | -€120,678 | -€382,189 | -€261,512 | -216.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€120,678 | -€382,189 | -€261,512 | -216.7% |
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 29 September 2026 via checked.be.