ALTESIAL: 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.
ALTESIAL
Largest movements
- Cash +€49,277
up €49,277 (+29.7%), from €166,179 to €215,456
mainly Net result for the year (+€45,963) and Depreciation (+€23,114)
- Tangible fixed assets -€22,115
down €22,115 (-19.0%), from €116,653 to €94,538
of which Land and buildings: -€18,764
- Receivables within one year -€13,797
down €13,797 (-32.3%), from €42,765 to €28,969
of which Other amounts receivable: -€7,586
- Reserves +€33,510
up €33,510 (+18.5%), from €181,453 to €214,963
of which Distributable reserves: +€33,510
- Debts after one year -€16,847
down €16,847 (-20.0%), from €84,384 to €67,537
- Tax, wage and social debts -€12,631
down €12,631 (-50.2%), from €25,173 to €12,542
of which Taxes: -€12,645
- Other debts +€5,940
up €5,940, from €0 to €5,940
- Gross operating margin -€11,652
down €11,652 (-11.0%), from €105,475 to €93,823
- Taxes -€3,812
down €3,812 (-17.1%), from €22,352 to €18,540
- Depreciation +€1,503
up €1,503 (+7.0%), from €21,611 to €23,114
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 | €327,337 | €340,794 | +€13,457 | +4.1% |
| Fixed assets | 21/28 | €116,748 | €94,633 | -€22,115 | -18.9% |
| Tangible fixed assets | 22/27 | €116,653 | €94,538 | -€22,115 | -19.0% |
| Land and buildings | 22 | €107,473 | €88,709 | -€18,764 | -17.5% |
| Furniture and vehicles | 24 | €9,180 | €5,486 | -€3,694 | -40.2% |
| Other tangible fixed assets | 26 | €0 | €343 | +€343 | |
| Assets under construction and advance payments | 27 | - | €0 | = | |
| Financial fixed assets | 28 | €95 | €95 | = | 0.0% |
| Current assets | 29/58 | €210,589 | €246,161 | +€35,572 | +16.9% |
| Amounts receivable within one year | 40/41 | €42,765 | €28,969 | -€13,797 | -32.3% |
| Trade receivables | 40 | €35,179 | €28,969 | -€6,211 | -17.7% |
| Other amounts receivable | 41 | €7,586 | €0 | -€7,586 | -100% |
| Cash at bank and in hand | 54/58 | €166,179 | €215,456 | +€49,277 | +29.7% |
| Deferred charges and accrued income | 490/1 | €1,644 | €1,737 | +€93 | +5.6% |
| Total equity and liabilities | 10/49 | €327,337 | €340,794 | +€13,457 | +4.1% |
| Equity | 10/15 | €195,959 | €229,469 | +€33,510 | +17.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €181,453 | €214,963 | +€33,510 | +18.5% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €181,453 | €214,963 | +€33,510 | +18.5% |
| Profit (loss) carried forward | 14 | €8,306 | €8,306 | = | 0.0% |
| Amounts payable | 17/49 | €131,377 | €111,324 | -€20,053 | -15.3% |
| Amounts payable after more than one year | 17 | €84,384 | €67,537 | -€16,847 | -20.0% |
| Financial debts | 170/4 | €84,384 | €67,537 | -€16,847 | -20.0% |
| Amounts payable within one year | 42/48 | €46,994 | €43,787 | -€3,207 | -6.8% |
| Current portion of amounts payable after more than one year | 42 | €16,863 | €17,018 | +€156 | +0.9% |
| Financial debts | 43 | €262 | €1,561 | +€1,299 | +496% |
| Credit institutions | 430/8 | €262 | €1,561 | +€1,299 | +496% |
| Trade debts | 44 | €4,696 | €6,727 | +€2,031 | +43.2% |
| Suppliers | 440/4 | €4,696 | €6,727 | +€2,031 | +43.2% |
| Taxes, remuneration and social security | 45 | €25,173 | €12,542 | -€12,631 | -50.2% |
| Taxes | 450/3 | €23,660 | €11,015 | -€12,645 | -53.4% |
| Remuneration and social security | 454/9 | €1,513 | €1,526 | +€13 | +0.9% |
| Other amounts payable | 47/48 | €0 | €5,940 | +€5,940 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,611 | €23,114 | +€1,503 | +7.0% |
| Other operating charges | 640/8 | €2,781 | €2,661 | -€121 | -4.3% |
| Gross operating margin | 9900 | €105,475 | €93,823 | -€11,652 | -11.0% |
| Operating profit (loss) | 9901 | €81,083 | €68,048 | -€13,034 | -16.1% |
| Financial income | 75/76B | €123 | €0 | -€123 | -100% |
| Recurring financial income | 75 | €123 | €0 | -€123 | -100% |
| Financial charges | 65/66B | €3,804 | €3,546 | -€258 | -6.8% |
| Recurring financial charges | 65 | €3,804 | €3,546 | -€258 | -6.8% |
| Profit (loss) for the period before taxes | 9903 | €77,402 | €64,503 | -€12,899 | -16.7% |
| Income taxes | 67/77 | €22,352 | €18,540 | -€3,812 | -17.1% |
| Profit (loss) for the period | 9904 | €55,050 | €45,963 | -€9,087 | -16.5% |
| Profit (loss) for the period to be appropriated | 9905 | €55,050 | €45,963 | -€9,087 | -16.5% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.