ALTHERA: 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.
ALTHERA
Largest movements
- Cash +€14,176
up €14,176 (+20.4%), from €69,328 to €83,504
mainly Net result for the year (+€8,782) and Accrued charges and deferred income (+€7,194)
- Reserves +€8,782
up €8,782 (+6.2%), from €141,612 to €150,394
of which Distributable reserves: +€8,782
- Accrued charges and deferred income +€7,194
new in 2025: €7,194
- Gross operating margin -€2,439
down €2,439 (-4.8%), from €50,920 to €48,481
- Taxes -€958
down €958 (-16.5%), from €5,811 to €4,853
- Financial charges -€871
down €871 (-8.8%), from €9,947 to €9,076
- Depreciation +€732
up €732 (+40.5%), from €1,807 to €2,539
- Staff costs +€556
up €556 (+2.6%), from €21,547 to €22,103
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 | €314,514 | €330,580 | +€16,066 | +5.1% |
| Fixed assets | 21/28 | €224,058 | €225,543 | +€1,484 | +0.7% |
| Tangible fixed assets | 22/27 | €224,058 | €225,543 | +€1,484 | +0.7% |
| Land and buildings | 22 | €218,000 | €218,000 | = | 0.0% |
| Plant, machinery and equipment | 23 | €2,492 | €3,437 | +€945 | +37.9% |
| Furniture and vehicles | 24 | €3,566 | €4,106 | +€540 | +15.1% |
| Current assets | 29/58 | €90,456 | €105,037 | +€14,581 | +16.1% |
| Amounts receivable within one year | 40/41 | €20,036 | €17,864 | -€2,172 | -10.8% |
| Trade receivables | 40 | €18,249 | €16,918 | -€1,331 | -7.3% |
| Other amounts receivable | 41 | €1,787 | €946 | -€841 | -47.1% |
| Cash at bank and in hand | 54/58 | €69,328 | €83,504 | +€14,176 | +20.4% |
| Deferred charges and accrued income | 490/1 | €1,092 | €3,669 | +€2,577 | +236% |
| Total equity and liabilities | 10/49 | €314,514 | €330,580 | +€16,066 | +5.1% |
| Equity | 10/15 | €203,112 | €211,894 | +€8,782 | +4.3% |
| 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 | €141,612 | €150,394 | +€8,782 | +6.2% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Distributable reserves | 133 | €135,462 | €144,244 | +€8,782 | +6.5% |
| Amounts payable | 17/49 | €111,402 | €118,686 | +€7,284 | +6.5% |
| Amounts payable within one year | 42/48 | €111,402 | €111,492 | +€90 | +0.1% |
| Trade debts | 44 | €1,313 | €3,619 | +€2,306 | +176% |
| Suppliers | 440/4 | €1,313 | €3,619 | +€2,306 | +176% |
| Taxes, remuneration and social security | 45 | €8,477 | €6,260 | -€2,216 | -26.1% |
| Taxes | 450/3 | €5,999 | €3,685 | -€2,313 | -38.6% |
| Remuneration and social security | 454/9 | €2,478 | €2,575 | +€97 | +3.9% |
| Other amounts payable | 47/48 | €101,612 | €101,612 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | - | €7,194 | +€7,194 | |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €21,547 | €22,103 | +€556 | +2.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,807 | €2,539 | +€732 | +40.5% |
| Other operating charges | 640/8 | €2,006 | €1,509 | -€498 | -24.8% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €50,920 | €48,481 | -€2,439 | -4.8% |
| Operating profit (loss) | 9901 | €25,560 | €22,330 | -€3,229 | -12.6% |
| Financial income | 75/76B | €325 | €380 | +€56 | +17.1% |
| Recurring financial income | 75 | €325 | €380 | +€56 | +17.1% |
| Financial charges | 65/66B | €9,947 | €9,076 | -€871 | -8.8% |
| Recurring financial charges | 65 | €9,947 | €9,076 | -€871 | -8.8% |
| Profit (loss) for the period before taxes | 9903 | €15,938 | €13,635 | -€2,303 | -14.4% |
| Income taxes | 67/77 | €5,811 | €4,853 | -€958 | -16.5% |
| Profit (loss) for the period | 9904 | €10,127 | €8,782 | -€1,345 | -13.3% |
| Profit (loss) for the period to be appropriated | 9905 | €10,127 | €8,782 | -€1,345 | -13.3% |
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 14 October 2026 via checked.be.