ALTHINVEST: 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.
ALTHINVEST
Largest movements
- Tangible fixed assets -€17,298
down €17,298 (-1.8%), from €940,967 to €923,669
- Debts after one year -€46,309
down €46,309 (-5.7%), from €817,102 to €770,794
- Reserves +€24,750
up €24,750 (+161%), from €15,358 to €40,108
- Gross operating margin +€3,930
up €3,930 (+4.7%), from €83,672 to €87,602
- Other operating charges -€3,328
down €3,328 (-33.0%), from €10,074 to €6,746
- Taxes +€3,131
up €3,131 (+61.2%), from €5,119 to €8,250
- Financial charges -€1,723
down €1,723 (-5.3%), from €32,281 to €30,558
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 | €947,158 | €935,580 | -€11,578 | -1.2% |
| Fixed assets | 21/28 | €940,967 | €923,669 | -€17,298 | -1.8% |
| Tangible fixed assets | 22/27 | €940,967 | €923,669 | -€17,298 | -1.8% |
| Land and buildings | 22 | €940,967 | €923,669 | -€17,298 | -1.8% |
| Current assets | 29/58 | €6,191 | €11,910 | +€5,719 | +92.4% |
| Cash at bank and in hand | 54/58 | €6,191 | €11,910 | +€5,719 | +92.4% |
| Total equity and liabilities | 10/49 | €947,158 | €935,580 | -€11,578 | -1.2% |
| Equity | 10/15 | €80,358 | €105,108 | +€24,750 | +30.8% |
| Contributions | 10/11 | €65,000 | €65,000 | = | 0.0% |
| Contributions outside capital | 11 | €65,000 | €65,000 | = | 0.0% |
| Other | 1109/19 | €65,000 | €65,000 | = | 0.0% |
| Reserves | 13 | €15,358 | €40,108 | +€24,750 | +161% |
| Distributable reserves | 133 | €15,358 | €40,108 | +€24,750 | +161% |
| Amounts payable | 17/49 | €866,800 | €830,472 | -€36,328 | -4.2% |
| Amounts payable after more than one year | 17 | €817,102 | €770,794 | -€46,309 | -5.7% |
| Financial debts | 170/4 | €817,102 | €770,794 | -€46,309 | -5.7% |
| Amounts payable within one year | 42/48 | €49,698 | €59,678 | +€9,980 | +20.1% |
| Current portion of amounts payable after more than one year | 42 | €44,579 | €46,309 | +€1,730 | +3.9% |
| Taxes, remuneration and social security | 45 | €5,119 | €13,369 | +€8,250 | +161% |
| Taxes | 450/3 | €5,119 | €13,369 | +€8,250 | +161% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,298 | €17,298 | = | 0.0% |
| Other operating charges | 640/8 | €10,074 | €6,746 | -€3,328 | -33.0% |
| Gross operating margin | 9900 | €83,672 | €87,602 | +€3,930 | +4.7% |
| Operating profit (loss) | 9901 | €56,301 | €63,559 | +€7,258 | +12.9% |
| Financial charges | 65/66B | €32,281 | €30,558 | -€1,723 | -5.3% |
| Recurring financial charges | 65 | €32,281 | €30,558 | -€1,723 | -5.3% |
| Profit (loss) for the period before taxes | 9903 | €24,019 | €33,001 | +€8,981 | +37.4% |
| Income taxes | 67/77 | €5,119 | €8,250 | +€3,131 | +61.2% |
| Profit (loss) for the period | 9904 | €18,900 | €24,750 | +€5,850 | +31.0% |
| Profit (loss) for the period to be appropriated | 9905 | €18,900 | €24,750 | +€5,850 | +31.0% |
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 1 November 2026 via checked.be.