ALTHAEA DEVELOPMENT: 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.
ALTHAEA DEVELOPMENT
Largest movements
- Cash +€68,918
up €68,918 (+85.0%), from €81,048 to €149,966
mainly Net result for the year (+€87,965) and Other debts (+€48,886)
- Tangible fixed assets -€21,044
down €21,044 (-35.2%), from €59,703 to €38,659
of which Furniture and vehicles: -€21,301
- Intangible fixed assets -€15,668
down €15,668 (-14.3%), from €109,589 to €93,921
- Receivables within one year +€13,336
up €13,336 (+3.6%), from €371,914 to €385,250
of which Other amounts receivable: +€13,890
- Other debts +€48,886
up €48,886 (+213.7%), from €22,873 to €71,759
- Reserves +€20,134
up €20,134 (+4.1%), from €491,202 to €511,337
of which Distributable reserves: +€35,802
- Current portion of long-term debt -€15,840
no longer reported in 2025 (was €15,840)
- Financial charges -€50,293
down €50,293 (-93.6%), from €53,706 to €3,414
of which Non-recurring financial charges: -€49,537
- Gross operating margin -€10,623
down €10,623 (-5.6%), from €191,030 to €180,407
- Other operating charges -€9,672
down €9,672 (-74.3%), from €13,018 to €3,346
- Depreciation +€7,543
up €7,543 (+22.8%), from €33,020 to €40,562
- Financial income -€4,469
down €4,469 (-35.5%), from €12,587 to €8,118
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 | €1,008,071 | €1,061,134 | +€53,063 | +5.3% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €499,291 | €462,580 | -€36,712 | -7.4% |
| Intangible fixed assets | 21 | €109,589 | €93,921 | -€15,668 | -14.3% |
| Tangible fixed assets | 22/27 | €59,703 | €38,659 | -€21,044 | -35.2% |
| Plant, machinery and equipment | 23 | €1,354 | €3,751 | +€2,397 | +177.0% |
| Furniture and vehicles | 24 | €54,768 | €33,467 | -€21,301 | -38.9% |
| Other tangible fixed assets | 26 | €3,581 | €1,440 | -€2,141 | -59.8% |
| Financial fixed assets | 28 | €330,000 | €330,000 | = | 0.0% |
| Current assets | 29/58 | €508,780 | €598,555 | +€89,775 | +17.6% |
| Amounts receivable within one year | 40/41 | €371,914 | €385,250 | +€13,336 | +3.6% |
| Trade receivables | 40 | €754 | €200 | -€554 | -73.4% |
| Other amounts receivable | 41 | €371,159 | €385,049 | +€13,890 | +3.7% |
| Current investments | 50/53 | €2,638 | €2,638 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €81,048 | €149,966 | +€68,918 | +85.0% |
| Deferred charges and accrued income | 490/1 | €53,180 | €60,701 | +€7,521 | +14.1% |
| Total equity and liabilities | 10/49 | €1,008,071 | €1,061,134 | +€53,063 | +5.3% |
| Equity | 10/15 | €552,702 | €572,837 | +€20,134 | +3.6% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €491,202 | €511,337 | +€20,134 | +4.1% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Tax-exempt reserves | 132 | €109,589 | €93,921 | -€15,668 | -14.3% |
| Distributable reserves | 133 | €375,464 | €411,266 | +€35,802 | +9.5% |
| Provisions and deferred taxes | 16 | €338,947 | €338,947 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €338,947 | €338,947 | = | 0.0% |
| Pensions and similar obligations | 160 | €338,947 | €338,947 | = | 0.0% |
| Amounts payable | 17/49 | €116,422 | €149,351 | +€32,929 | +28.3% |
| Amounts payable within one year | 42/48 | €116,422 | €149,351 | +€32,929 | +28.3% |
| Current portion of amounts payable after more than one year | 42 | €15,840 | - | -€15,840 | |
| Financial debts | 43 | €40,751 | €43,901 | +€3,150 | +7.7% |
| Credit institutions | 430/8 | €40,751 | €43,901 | +€3,150 | +7.7% |
| Trade debts | 44 | €8,144 | €4,328 | -€3,817 | -46.9% |
| Suppliers | 440/4 | €8,144 | €4,328 | -€3,817 | -46.9% |
| Taxes, remuneration and social security | 45 | €28,814 | €29,363 | +€549 | +1.9% |
| Taxes | 450/3 | €28,814 | €29,363 | +€549 | +1.9% |
| Other amounts payable | 47/48 | €22,873 | €71,759 | +€48,886 | +213.7% |
| Non-recurring operating income | 76A | €9,303 | - | -€9,303 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,020 | €40,562 | +€7,543 | +22.8% |
| Other operating charges | 640/8 | €13,018 | €3,346 | -€9,672 | -74.3% |
| Gross operating margin | 9900 | €191,030 | €180,407 | -€10,623 | -5.6% |
| Operating profit (loss) | 9901 | €144,993 | €136,499 | -€8,493 | -5.9% |
| Financial income | 75/76B | €12,587 | €8,118 | -€4,469 | -35.5% |
| Recurring financial income | 75 | €12,587 | €8,118 | -€4,469 | -35.5% |
| Financial charges | 65/66B | €53,706 | €3,414 | -€50,293 | -93.6% |
| Recurring financial charges | 65 | €4,169 | €3,414 | -€756 | -18.1% |
| Non-recurring financial charges | 66B | €49,537 | - | -€49,537 | |
| Profit (loss) for the period before taxes | 9903 | €103,873 | €141,204 | +€37,330 | +35.9% |
| Income taxes | 67/77 | €55,776 | €53,239 | -€2,537 | -4.5% |
| Profit (loss) for the period | 9904 | €48,097 | €87,965 | +€39,868 | +82.9% |
| Transfer from tax-exempt reserves | 789 | €15,668 | €15,668 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €63,765 | €103,633 | +€39,868 | +62.5% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.