Altho: 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.
Altho
Largest movements
- Tangible fixed assets -€28,937
down €28,937 (-2.7%), from €1.1m to €1.0m
of which Land and buildings: -€28,595
- Debts after one year -€27,320
down €27,320 (-7.5%), from €366,710 to €339,390
- Gross operating margin +€9,898
up €9,898 (+23.7%), from €41,848 to €51,746
- Financial charges +€2,392
up €2,392 (+43.2%), from €5,531 to €7,922
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 | €1,068,740 | €1,048,418 | -€20,322 | -1.9% |
| Fixed assets | 21/28 | €1,058,432 | €1,029,495 | -€28,937 | -2.7% |
| Tangible fixed assets | 22/27 | €1,058,432 | €1,029,495 | -€28,937 | -2.7% |
| Land and buildings | 22 | €1,057,134 | €1,028,540 | -€28,595 | -2.7% |
| Plant, machinery and equipment | 23 | €1,297 | €955 | -€342 | -26.4% |
| Current assets | 29/58 | €10,309 | €18,923 | +€8,615 | +83.6% |
| Cash at bank and in hand | 54/58 | €10,309 | €18,923 | +€8,615 | +83.6% |
| Total equity and liabilities | 10/49 | €1,068,740 | €1,048,418 | -€20,322 | -1.9% |
| Equity | 10/15 | €384,800 | €385,197 | +€397 | +0.1% |
| Contributions | 10/11 | €600,000 | €600,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€215,200 | -€214,803 | +€397 | +0.2% |
| Amounts payable | 17/49 | €683,940 | €663,221 | -€20,719 | -3.0% |
| Amounts payable after more than one year | 17 | €366,710 | €339,390 | -€27,320 | -7.5% |
| Financial debts | 170/4 | €366,710 | €339,390 | -€27,320 | -7.5% |
| Amounts payable within one year | 42/48 | €317,231 | €323,832 | +€6,601 | +2.1% |
| Current portion of amounts payable after more than one year | 42 | €26,759 | €27,320 | +€562 | +2.1% |
| Trade debts | 44 | - | €5,788 | +€5,788 | |
| Suppliers | 440/4 | - | €5,788 | +€5,788 | |
| Advances received on contracts in progress | 46 | €3,815 | €3,815 | = | 0.0% |
| Other amounts payable | 47/48 | €286,657 | €286,908 | +€251 | +0.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,286 | €38,265 | -€21 | -0.1% |
| Other operating charges | 640/8 | €4,938 | €5,162 | +€224 | +4.5% |
| Gross operating margin | 9900 | €41,848 | €51,746 | +€9,898 | +23.7% |
| Operating profit (loss) | 9901 | -€1,376 | €8,319 | +€9,695 | |
| Financial charges | 65/66B | €5,531 | €7,922 | +€2,392 | +43.2% |
| Recurring financial charges | 65 | €5,531 | €7,922 | +€2,392 | +43.2% |
| Profit (loss) for the period before taxes | 9903 | -€6,906 | €397 | +€7,303 | |
| Profit (loss) for the period | 9904 | -€6,906 | €397 | +€7,303 | |
| Profit (loss) for the period to be appropriated | 9905 | -€6,906 | €397 | +€7,303 |
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 5 October 2026 via checked.be.