ALTHI 92: 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.
ALTHI 92
Largest movements
- Cash +€26,416
up €26,416 (+24.6%), from €107,485 to €133,902
mainly Depreciation (+€143,824) and Trade debts (+€92,732)
- Receivables within one year -€12,588
down €12,588 (-17.3%), from €72,589 to €60,001
of which Trade receivables: -€32,696
- Debts after one year -€100,429
down €100,429 (-32.0%), from €314,284 to €213,855
- Trade debts +€92,732
up €92,732 (+424%), from €21,883 to €114,614
- Reserves +€20,047
up €20,047 (+6.7%), from €300,103 to €320,151
of which Distributable reserves: +€20,047
- Gross operating margin -€13,414
down €13,414 (-5.9%), from €228,540 to €215,126
- Depreciation +€10,468
up €10,468 (+7.8%), from €133,355 to €143,824
- Taxes -€5,357
down €5,357 (-45.6%), from €11,747 to €6,390
- Staff costs -€3,671
down €3,671 (-10.5%), from €34,859 to €31,188
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €843,286 | €855,875 | +€12,589 | +1.5% |
| Fixed assets | 21/28 | €658,676 | €654,352 | -€4,324 | -0.7% |
| Tangible fixed assets | 22/27 | €658,676 | €654,352 | -€4,324 | -0.7% |
| Plant, machinery and equipment | 23 | €658,676 | €654,352 | -€4,324 | -0.7% |
| Current assets | 29/58 | €184,610 | €201,522 | +€16,912 | +9.2% |
| Stocks and contracts in progress | 3 | €626 | €3,773 | +€3,147 | +503% |
| Stocks | 30/36 | €626 | €3,773 | +€3,147 | +503% |
| Amounts receivable within one year | 40/41 | €72,589 | €60,001 | -€12,588 | -17.3% |
| Trade receivables | 40 | €60,385 | €27,689 | -€32,696 | -54.1% |
| Other amounts receivable | 41 | €12,204 | €32,312 | +€20,108 | +165% |
| Cash at bank and in hand | 54/58 | €107,485 | €133,902 | +€26,416 | +24.6% |
| Deferred charges and accrued income | 490/1 | €3,910 | €3,847 | -€63 | -1.6% |
| Total equity and liabilities | 10/49 | €843,286 | €855,875 | +€12,589 | +1.5% |
| Equity | 10/15 | €362,103 | €382,151 | +€20,047 | +5.5% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €300,103 | €320,151 | +€20,047 | +6.7% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €293,903 | €313,951 | +€20,047 | +6.8% |
| Amounts payable | 17/49 | €481,183 | €473,724 | -€7,458 | -1.6% |
| Amounts payable after more than one year | 17 | €314,284 | €213,855 | -€100,429 | -32.0% |
| Financial debts | 170/4 | €314,284 | €213,855 | -€100,429 | -32.0% |
| Amounts payable within one year | 42/48 | €166,899 | €259,869 | +€92,971 | +55.7% |
| Current portion of amounts payable after more than one year | 42 | €100,429 | €100,429 | = | 0.0% |
| Trade debts | 44 | €21,883 | €114,614 | +€92,732 | +424% |
| Suppliers | 440/4 | €21,883 | €114,614 | +€92,732 | +424% |
| Taxes, remuneration and social security | 45 | €44,587 | €44,826 | +€239 | +0.5% |
| Taxes | 450/3 | €6,618 | €555 | -€6,063 | -91.6% |
| Remuneration and social security | 454/9 | €37,969 | €44,271 | +€6,302 | +16.6% |
| Remuneration, social security and pensions | 62 | €34,859 | €31,188 | -€3,671 | -10.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €133,355 | €143,824 | +€10,468 | +7.8% |
| Other operating charges | 640/8 | €31 | - | -€31 | |
| Gross operating margin | 9900 | €228,540 | €215,126 | -€13,414 | -5.9% |
| Operating profit (loss) | 9901 | €60,294 | €40,114 | -€20,180 | -33.5% |
| Financial income | 75/76B | €484 | €732 | +€248 | +51.3% |
| Recurring financial income | 75 | €484 | €732 | +€248 | +51.3% |
| Financial charges | 65/66B | €14,346 | €14,409 | +€63 | +0.4% |
| Recurring financial charges | 65 | €14,346 | €14,409 | +€63 | +0.4% |
| Profit (loss) for the period before taxes | 9903 | €46,433 | €26,438 | -€19,995 | -43.1% |
| Income taxes | 67/77 | €11,747 | €6,390 | -€5,357 | -45.6% |
| Profit (loss) for the period | 9904 | €34,685 | €20,047 | -€14,638 | -42.2% |
| Profit (loss) for the period to be appropriated | 9905 | €34,685 | €20,047 | -€14,638 | -42.2% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.