ALTHIEL: 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.
ALTHIEL
Largest movements
- Current investments -€252,244
no longer reported in 2025 (was €252,244)
- Cash +€234,651
up €234,651 (+80.5%), from €291,529 to €526,180
mainly Net result for the year (+€636,647) and Current investments (+€252,244)
- Tangible fixed assets -€8,248
down €8,248 (-41.9%), from €19,704 to €11,456
- Other debts -€120,773
down €120,773 (-23.0%), from €525,515 to €404,742
- Tax, wage and social debts +€94,132
up €94,132 (+267.4%), from €35,204 to €129,336
- Profit (loss) carried forward +€6,647
up €6,647 (+173.7%), from €3,827 to €10,475
- Gross operating margin +€194,053
up €194,053 (+32.4%), from €598,297 to €792,350
- Taxes +€65,062
up €65,062 (+77.0%), from €84,447 to €149,509
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 | €566,800 | €546,572 | -€20,228 | -3.6% |
| Fixed assets | 21/28 | €19,704 | €11,456 | -€8,248 | -41.9% |
| Tangible fixed assets | 22/27 | €19,704 | €11,456 | -€8,248 | -41.9% |
| Furniture and vehicles | 24 | €19,704 | €11,456 | -€8,248 | -41.9% |
| Current assets | 29/58 | €547,096 | €535,116 | -€11,980 | -2.2% |
| Amounts receivable within one year | 40/41 | €553 | €6,045 | +€5,491 | +992.2% |
| Other amounts receivable | 41 | €553 | €6,045 | +€5,491 | +992.2% |
| Current investments | 50/53 | €252,244 | - | -€252,244 | |
| Cash at bank and in hand | 54/58 | €291,529 | €526,180 | +€234,651 | +80.5% |
| Deferred charges and accrued income | 490/1 | €2,770 | €2,891 | +€121 | +4.4% |
| Total equity and liabilities | 10/49 | €566,800 | €546,572 | -€20,228 | -3.6% |
| Equity | 10/15 | €5,827 | €12,475 | +€6,647 | +114.1% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €3,827 | €10,475 | +€6,647 | +173.7% |
| Amounts payable | 17/49 | €560,973 | €534,097 | -€26,875 | -4.8% |
| Amounts payable within one year | 42/48 | €560,973 | €534,097 | -€26,875 | -4.8% |
| Trade debts | 44 | €254 | €20 | -€234 | -92.2% |
| Suppliers | 440/4 | €254 | €20 | -€234 | -92.2% |
| Taxes, remuneration and social security | 45 | €35,204 | €129,336 | +€94,132 | +267.4% |
| Taxes | 450/3 | €35,204 | €129,336 | +€94,132 | +267.4% |
| Other amounts payable | 47/48 | €525,515 | €404,742 | -€120,773 | -23.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,937 | €8,248 | -€689 | -7.7% |
| Other operating charges | 640/8 | €1,518 | €1,379 | -€139 | -9.2% |
| Gross operating margin | 9900 | €598,297 | €792,350 | +€194,053 | +32.4% |
| Operating profit (loss) | 9901 | €587,843 | €782,723 | +€194,880 | +33.2% |
| Financial income | 75/76B | - | €3,651 | +€3,651 | |
| Recurring financial income | 75 | - | €3,651 | +€3,651 | |
| Financial charges | 65/66B | €559 | €218 | -€341 | -60.9% |
| Recurring financial charges | 65 | €559 | €218 | -€341 | -60.9% |
| Profit (loss) for the period before taxes | 9903 | €587,283 | €786,156 | +€198,873 | +33.9% |
| Income taxes | 67/77 | €84,447 | €149,509 | +€65,062 | +77.0% |
| Profit (loss) for the period | 9904 | €502,837 | €636,647 | +€133,811 | +26.6% |
| Profit (loss) for the period to be appropriated | 9905 | €502,837 | €636,647 | +€133,811 | +26.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.