Alterwise: 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.
Alterwise
Largest movements
- Cash +€47,136
up €47,136 (+204%), from €23,117 to €70,253
mainly Net result for the year (+€58,481) and Depreciation (+€22,096)
- Tangible fixed assets +€17,177
up €17,177 (+36.1%), from €47,643 to €64,820
of which Furniture and vehicles: +€11,963
- Reserves +€58,481
new in 2025: €58,481
- Other debts +€7,660
up €7,660 (+15.7%), from €48,846 to €56,505
- Gross operating margin +€53,580
up €53,580 (+117%), from €45,809 to €99,389
- Depreciation +€17,739
up €17,739 (+407%), from €4,357 to €22,096
- Taxes +€17,315
new in 2025: €17,315
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 | €93,509 | €159,415 | +€65,906 | +70.5% |
| Fixed assets | 21/28 | €47,643 | €64,820 | +€17,177 | +36.1% |
| Tangible fixed assets | 22/27 | €47,643 | €64,820 | +€17,177 | +36.1% |
| Plant, machinery and equipment | 23 | €11,728 | €16,941 | +€5,213 | +44.5% |
| Furniture and vehicles | 24 | €35,915 | €47,879 | +€11,963 | +33.3% |
| Current assets | 29/58 | €45,866 | €94,595 | +€48,729 | +106% |
| Amounts receivable within one year | 40/41 | €21,214 | €22,535 | +€1,321 | +6.2% |
| Trade receivables | 40 | €21,214 | €19,850 | -€1,364 | -6.4% |
| Other amounts receivable | 41 | - | €2,685 | +€2,685 | |
| Cash at bank and in hand | 54/58 | €23,117 | €70,253 | +€47,136 | +204% |
| Deferred charges and accrued income | 490/1 | €1,534 | €1,807 | +€273 | +17.8% |
| Total equity and liabilities | 10/49 | €93,509 | €159,415 | +€65,906 | +70.5% |
| Equity | 10/15 | €35,931 | €94,413 | +€58,481 | +163% |
| Contributions | 10/11 | €70,000 | €70,000 | = | 0.0% |
| Reserves | 13 | - | €58,481 | +€58,481 | |
| Distributable reserves | 133 | - | €58,481 | +€58,481 | |
| Profit (loss) carried forward | 14 | -€34,069 | -€34,069 | = | 0.0% |
| Amounts payable | 17/49 | €57,577 | €65,002 | +€7,425 | +12.9% |
| Amounts payable within one year | 42/48 | €57,577 | €64,460 | +€6,883 | +12.0% |
| Trade debts | 44 | €191 | €337 | +€146 | +76.8% |
| Suppliers | 440/4 | €191 | €337 | +€146 | +76.8% |
| Taxes, remuneration and social security | 45 | €8,541 | €7,618 | -€923 | -10.8% |
| Taxes | 450/3 | €8,541 | €7,618 | -€923 | -10.8% |
| Other amounts payable | 47/48 | €48,846 | €56,505 | +€7,660 | +15.7% |
| Accrued charges and deferred income | 492/3 | - | €542 | +€542 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,357 | €22,096 | +€17,739 | +407% |
| Other operating charges | 640/8 | €491 | €1,338 | +€848 | +173% |
| Gross operating margin | 9900 | €45,809 | €99,389 | +€53,580 | +117% |
| Operating profit (loss) | 9901 | €40,962 | €75,955 | +€34,993 | +85.4% |
| Financial income | 75/76B | €0 | €2 | +€2 | +9,850% |
| Recurring financial income | 75 | €0 | €2 | +€2 | +9,850% |
| Financial charges | 65/66B | €435 | €160 | -€275 | -63.1% |
| Recurring financial charges | 65 | €435 | €160 | -€275 | -63.1% |
| Profit (loss) for the period before taxes | 9903 | €40,527 | €75,796 | +€35,270 | +87.0% |
| Income taxes | 67/77 | - | €17,315 | +€17,315 | |
| Profit (loss) for the period | 9904 | €40,527 | €58,481 | +€17,955 | +44.3% |
| Profit (loss) for the period to be appropriated | 9905 | €40,527 | €58,481 | +€17,955 | +44.3% |
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 13 October 2026 via checked.be.