ALTI-VIF: 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.
ALTI-VIF
Largest movements
- Current investments -€297,429
no longer reported in 2025 (was €297,429)
- Cash -€73,114
down €73,114 (-87.9%), from €83,197 to €10,084
mainly Contributions, distributions and other (-€320,856) and Other debts (-€84,761)
- Tangible fixed assets -€31,330
down €31,330 (-18.4%), from €170,401 to €139,071
of which Furniture and vehicles: -€29,431
- Receivables within one year +€17,360
up €17,360 (+8.7%), from €198,555 to €215,915
of which Other amounts receivable: +€70,344
- Reserves -€320,856
down €320,856 (-42.3%), from €757,699 to €436,844
of which Distributable reserves: -€320,856
- Other debts -€84,761
no longer reported in 2025 (was €84,761)
- Profit (loss) carried forward +€58,894
up €58,894 (+93.8%), from -€62,760 to -€3,866
- Tax, wage and social debts -€24,282
down €24,282 (-73.1%), from €33,240 to €8,958
- Gross operating margin +€60,715
up €60,715 (+43.8%), from €138,489 to €199,204
- Taxes -€16,627
down €16,627 (-51.9%), from €32,006 to €15,380
- Depreciation -€4,157
down €4,157 (-47.1%), from €8,830 to €4,673
- Financial income +€2,684
up €2,684 (+14.7%), from €18,299 to €20,983
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 | €826,788 | €449,634 | -€377,154 | -45.6% |
| Fixed assets | 21/28 | €173,601 | €142,271 | -€31,330 | -18.0% |
| Tangible fixed assets | 22/27 | €170,401 | €139,071 | -€31,330 | -18.4% |
| Land and buildings | 22 | €7,209 | €6,969 | -€240 | -3.3% |
| Furniture and vehicles | 24 | €159,732 | €130,301 | -€29,431 | -18.4% |
| Leasing and similar rights | 25 | €1,303 | - | -€1,303 | |
| Other tangible fixed assets | 26 | €2,157 | €1,801 | -€356 | -16.5% |
| Financial fixed assets | 28 | €3,200 | €3,200 | = | 0.0% |
| Current assets | 29/58 | €653,187 | €307,363 | -€345,824 | -52.9% |
| Amounts receivable after more than one year | 29 | €72,000 | €72,000 | = | 0.0% |
| Other amounts receivable | 291 | €72,000 | €72,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €198,555 | €215,915 | +€17,360 | +8.7% |
| Trade receivables | 40 | €126,705 | €73,722 | -€52,984 | -41.8% |
| Other amounts receivable | 41 | €71,849 | €142,193 | +€70,344 | +97.9% |
| Current investments | 50/53 | €297,429 | - | -€297,429 | |
| Cash at bank and in hand | 54/58 | €83,197 | €10,084 | -€73,114 | -87.9% |
| Deferred charges and accrued income | 490/1 | €2,006 | €9,364 | +€7,358 | +367% |
| Total equity and liabilities | 10/49 | €826,788 | €449,634 | -€377,154 | -45.6% |
| Equity | 10/15 | €701,140 | €439,178 | -€261,962 | -37.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €757,699 | €436,844 | -€320,856 | -42.3% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €755,839 | €434,984 | -€320,856 | -42.5% |
| Profit (loss) carried forward | 14 | -€62,760 | -€3,866 | +€58,894 | +93.8% |
| Amounts payable | 17/49 | €125,649 | €10,456 | -€115,193 | -91.7% |
| Amounts payable within one year | 42/48 | €125,213 | €10,456 | -€114,757 | -91.6% |
| Trade debts | 44 | €7,213 | €1,498 | -€5,715 | -79.2% |
| Suppliers | 440/4 | €7,213 | €1,498 | -€5,715 | -79.2% |
| Taxes, remuneration and social security | 45 | €33,240 | €8,958 | -€24,282 | -73.1% |
| Taxes | 450/3 | €33,240 | €8,958 | -€24,282 | -73.1% |
| Other amounts payable | 47/48 | €84,761 | - | -€84,761 | |
| Accrued charges and deferred income | 492/3 | €436 | - | -€436 | |
| Non-recurring operating income | 76A | - | €115,000 | +€115,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,830 | €4,673 | -€4,157 | -47.1% |
| Other operating charges | 640/8 | €691 | €991 | +€300 | +43.3% |
| Non-recurring operating charges | 66A | - | €140,167 | +€140,167 | |
| Gross operating margin | 9900 | €138,489 | €199,204 | +€60,715 | +43.8% |
| Operating profit (loss) | 9901 | €128,968 | €53,372 | -€75,595 | -58.6% |
| Financial income | 75/76B | €18,299 | €20,983 | +€2,684 | +14.7% |
| Recurring financial income | 75 | €18,299 | €20,983 | +€2,684 | +14.7% |
| Financial charges | 65/66B | €211 | €82 | -€129 | -61.1% |
| Recurring financial charges | 65 | €211 | €82 | -€129 | -61.1% |
| Profit (loss) for the period before taxes | 9903 | €147,056 | €74,273 | -€72,782 | -49.5% |
| Income taxes | 67/77 | €32,006 | €15,380 | -€16,627 | -51.9% |
| Profit (loss) for the period | 9904 | €115,050 | €58,894 | -€56,156 | -48.8% |
| Profit (loss) for the period to be appropriated | 9905 | €115,050 | €58,894 | -€56,156 | -48.8% |
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 23 October 2026 via checked.be.