ALTEX: 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.
ALTEX
Largest movements
- Cash +€74,133
up €74,133 (+22.7%), from €326,067 to €400,199
mainly Other debts (+€119,060) and Net result for the year (+€59,080)
- Receivables within one year -€35,440
down €35,440 (-57.4%), from €61,735 to €26,295
of which Other amounts receivable: -€23,167
- Stocks and contracts -€11,590
down €11,590 (-11.1%), from €104,797 to €93,208
- Tangible fixed assets +€10,609
up €10,609 (+6.9%), from €154,059 to €164,668
of which Furniture and vehicles: +€42,394
- Other debts +€119,060
up €119,060 (+248.5%), from €47,910 to €166,970
- Reserves -€96,693
down €96,693 (-34.4%), from €281,079 to €184,386
of which Distributable reserves: -€96,693
- Trade debts +€14,727
up €14,727 (+61.5%), from €23,960 to €38,687
- Gross operating margin +€24,036
up €24,036 (+8.5%), from €283,582 to €307,618
- Taxes +€11,989
up €11,989 (+110.7%), from €10,833 to €22,822
- Staff costs -€5,257
down €5,257 (-2.9%), from €183,558 to €178,301
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 | €653,568 | €694,960 | +€41,391 | +6.3% |
| Fixed assets | 21/28 | €155,677 | €168,456 | +€12,779 | +8.2% |
| Tangible fixed assets | 22/27 | €154,059 | €164,668 | +€10,609 | +6.9% |
| Land and buildings | 22 | €110,843 | €88,675 | -€22,169 | -20.0% |
| Plant, machinery and equipment | 23 | €5,760 | €4,130 | -€1,630 | -28.3% |
| Furniture and vehicles | 24 | €13,667 | €56,062 | +€42,394 | +310.2% |
| Other tangible fixed assets | 26 | €23,789 | €15,803 | -€7,987 | -33.6% |
| Financial fixed assets | 28 | €1,617 | €3,787 | +€2,170 | +134.2% |
| Current assets | 29/58 | €497,892 | €526,504 | +€28,612 | +5.7% |
| Stocks and contracts in progress | 3 | €104,797 | €93,208 | -€11,590 | -11.1% |
| Stocks | 30/36 | €104,797 | €93,208 | -€11,590 | -11.1% |
| Amounts receivable within one year | 40/41 | €61,735 | €26,295 | -€35,440 | -57.4% |
| Trade receivables | 40 | €38,569 | €26,295 | -€12,274 | -31.8% |
| Other amounts receivable | 41 | €23,167 | - | -€23,167 | |
| Cash at bank and in hand | 54/58 | €326,067 | €400,199 | +€74,133 | +22.7% |
| Deferred charges and accrued income | 490/1 | €5,292 | €6,802 | +€1,510 | +28.5% |
| Total equity and liabilities | 10/49 | €653,568 | €694,960 | +€41,391 | +6.3% |
| Equity | 10/15 | €559,960 | €463,267 | -€96,693 | -17.3% |
| Contributions | 10/11 | €278,881 | €278,881 | = | 0.0% |
| Capital | 10 | €278,881 | €278,881 | = | 0.0% |
| Issued capital | 100 | €278,881 | €278,881 | = | 0.0% |
| Reserves | 13 | €281,079 | €184,386 | -€96,693 | -34.4% |
| Non-distributable reserves | 130/1 | €27,888 | €27,888 | = | 0.0% |
| Legal reserve | 130 | €27,888 | €27,888 | = | 0.0% |
| Distributable reserves | 133 | €253,191 | €156,498 | -€96,693 | -38.2% |
| Amounts payable | 17/49 | €93,608 | €231,693 | +€138,085 | +147.5% |
| Amounts payable within one year | 42/48 | €93,268 | €231,693 | +€138,424 | +148.4% |
| Trade debts | 44 | €23,960 | €38,687 | +€14,727 | +61.5% |
| Suppliers | 440/4 | €23,960 | €38,687 | +€14,727 | +61.5% |
| Taxes, remuneration and social security | 45 | €21,398 | €26,036 | +€4,638 | +21.7% |
| Taxes | 450/3 | €9,725 | €14,045 | +€4,321 | +44.4% |
| Remuneration and social security | 454/9 | €11,673 | €11,990 | +€317 | +2.7% |
| Other amounts payable | 47/48 | €47,910 | €166,970 | +€119,060 | +248.5% |
| Accrued charges and deferred income | 492/3 | €340 | - | -€340 | |
| Remuneration, social security and pensions | 62 | €183,558 | €178,301 | -€5,257 | -2.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,756 | €45,778 | +€22 | 0.0% |
| Other operating charges | 640/8 | €10,590 | €10,967 | +€377 | +3.6% |
| Gross operating margin | 9900 | €283,582 | €307,618 | +€24,036 | +8.5% |
| Operating profit (loss) | 9901 | €43,677 | €72,572 | +€28,895 | +66.2% |
| Financial income | 75/76B | €7,603 | €10,170 | +€2,567 | +33.8% |
| Recurring financial income | 75 | €7,603 | €10,170 | +€2,567 | +33.8% |
| Financial charges | 65/66B | €897 | €839 | -€58 | -6.4% |
| Recurring financial charges | 65 | €897 | €839 | -€58 | -6.4% |
| Profit (loss) for the period before taxes | 9903 | €50,383 | €81,902 | +€31,519 | +62.6% |
| Income taxes | 67/77 | €10,833 | €22,822 | +€11,989 | +110.7% |
| Profit (loss) for the period | 9904 | €39,550 | €59,080 | +€19,530 | +49.4% |
| Profit (loss) for the period to be appropriated | 9905 | €39,550 | €59,080 | +€19,530 | +49.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.