ALTERVETO: 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.
ALTERVETO
Largest movements
- Cash +€10,393
up €10,393 (+109%), from €9,572 to €19,966
mainly Net result for the year (+€14,134) and Depreciation (+€6,168)
- Stocks and contracts +€6,317
up €6,317 (+75.5%), from €8,369 to €14,686
- Tangible fixed assets -€6,168
down €6,168 (-18.8%), from €32,809 to €26,641
of which Land and buildings: -€5,337
- Receivables within one year +€1,422
up €1,422 (+2.8%), from €50,913 to €52,335
of which Other amounts receivable: +€2,317
- Reserves +€14,134
up €14,134 (+18.6%), from €75,812 to €89,945
of which Distributable reserves: +€14,134
- Other debts -€3,000
down €3,000 (-24.6%), from €12,211 to €9,211
- Staff costs -€18,839
down €18,839 (-100%), from €18,839 to €0
- Gross operating margin -€6,346
down €6,346 (-21.3%), from €29,755 to €23,409
- Financial charges -€685
down €685 (-40.1%), from €1,710 to €1,025
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 | €108,044 | €120,014 | +€11,971 | +11.1% |
| Fixed assets | 21/28 | €38,959 | €32,791 | -€6,168 | -15.8% |
| Tangible fixed assets | 22/27 | €32,809 | €26,641 | -€6,168 | -18.8% |
| Land and buildings | 22 | €31,444 | €26,107 | -€5,337 | -17.0% |
| Furniture and vehicles | 24 | €1,365 | €534 | -€831 | -60.9% |
| Financial fixed assets | 28 | €6,150 | €6,150 | = | 0.0% |
| Current assets | 29/58 | €69,085 | €87,224 | +€18,139 | +26.3% |
| Stocks and contracts in progress | 3 | €8,369 | €14,686 | +€6,317 | +75.5% |
| Stocks | 30/36 | €8,369 | €14,686 | +€6,317 | +75.5% |
| Amounts receivable within one year | 40/41 | €50,913 | €52,335 | +€1,422 | +2.8% |
| Trade receivables | 40 | €50,913 | €50,018 | -€894 | -1.8% |
| Other amounts receivable | 41 | - | €2,317 | +€2,317 | |
| Cash at bank and in hand | 54/58 | €9,572 | €19,966 | +€10,393 | +109% |
| Deferred charges and accrued income | 490/1 | €231 | €237 | +€6 | +2.7% |
| Total equity and liabilities | 10/49 | €108,044 | €120,014 | +€11,971 | +11.1% |
| Equity | 10/15 | €94,412 | €108,545 | +€14,134 | +15.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €75,812 | €89,945 | +€14,134 | +18.6% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €73,952 | €88,085 | +€14,134 | +19.1% |
| Amounts payable | 17/49 | €13,632 | €11,469 | -€2,163 | -15.9% |
| Amounts payable within one year | 42/48 | €13,632 | €11,469 | -€2,163 | -15.9% |
| Trade debts | 44 | €648 | €688 | +€39 | +6.1% |
| Suppliers | 440/4 | €648 | €688 | +€39 | +6.1% |
| Taxes, remuneration and social security | 45 | €773 | €1,571 | +€798 | +103% |
| Taxes | 450/3 | €773 | €1,571 | +€798 | +103% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €12,211 | €9,211 | -€3,000 | -24.6% |
| Remuneration, social security and pensions | 62 | €18,839 | €0 | -€18,839 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,212 | €6,168 | -€44 | -0.7% |
| Other operating charges | 640/8 | €577 | €593 | +€17 | +2.9% |
| Gross operating margin | 9900 | €29,755 | €23,409 | -€6,346 | -21.3% |
| Operating profit (loss) | 9901 | €4,128 | €16,648 | +€12,520 | +303% |
| Financial income | 75/76B | €0 | €0 | -€0 | -98.0% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -98.0% |
| Financial charges | 65/66B | €1,710 | €1,025 | -€685 | -40.1% |
| Recurring financial charges | 65 | €1,710 | €1,025 | -€685 | -40.1% |
| Profit (loss) for the period before taxes | 9903 | €2,418 | €15,623 | +€13,205 | +546% |
| Income taxes | 67/77 | €1,718 | €1,490 | -€228 | -13.3% |
| Profit (loss) for the period | 9904 | €700 | €14,134 | +€13,434 | +1,919% |
| Profit (loss) for the period to be appropriated | 9905 | €700 | €14,134 | +€13,434 | +1,919% |
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 23 October 2026 via checked.be.