ALTIERI & MAEBE: 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.
ALTIERI & MAEBE
Largest movements
- Deferred charges and accrued income +€4,753
up €4,753 (+265%), from €1,794 to €6,547
- Cash -€3,845
down €3,845 (-10.8%), from €35,764 to €31,919
mainly Net result for the year (-€16,917) and Deferred charges and accrued income (-€4,753)
- Receivables within one year -€1,380
down €1,380 (-14.6%), from €9,422 to €8,042
of which Trade receivables: -€4,006
- Reserves -€16,917
down €16,917 (-39.0%), from €43,362 to €26,445
- Tax, wage and social debts +€11,263
up €11,263 (+459%), from €2,452 to €13,715
of which Remuneration and social security: +€7,192
- Trade debts +€4,916
up €4,916 (+259%), from €1,898 to €6,814
- Gross operating margin -€18,811
down €18,811, from €3,719 to -€15,092
- Depreciation -€2,307
down €2,307 (-81.6%), from €2,829 to €522
- Taxes -€946
down €946 (-98.4%), from €962 to €15
- Financial income -€280
down €280 (-99.8%), from €281 to €1
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 | €49,212 | €48,474 | -€738 | -1.5% |
| Fixed assets | 21/28 | €2,232 | €1,966 | -€266 | -11.9% |
| Tangible fixed assets | 22/27 | €2,232 | €1,966 | -€266 | -11.9% |
| Land and buildings | 22 | €716 | €559 | -€157 | -21.9% |
| Furniture and vehicles | 24 | €1,515 | €1,406 | -€109 | -7.2% |
| Current assets | 29/58 | €46,980 | €46,508 | -€472 | -1.0% |
| Amounts receivable within one year | 40/41 | €9,422 | €8,042 | -€1,380 | -14.6% |
| Trade receivables | 40 | €6,904 | €2,899 | -€4,006 | -58.0% |
| Other amounts receivable | 41 | €2,518 | €5,144 | +€2,626 | +104% |
| Cash at bank and in hand | 54/58 | €35,764 | €31,919 | -€3,845 | -10.8% |
| Deferred charges and accrued income | 490/1 | €1,794 | €6,547 | +€4,753 | +265% |
| Total equity and liabilities | 10/49 | €49,212 | €48,474 | -€738 | -1.5% |
| Equity | 10/15 | €44,862 | €27,945 | -€16,917 | -37.7% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Reserves | 13 | €43,362 | €26,445 | -€16,917 | -39.0% |
| Distributable reserves | 133 | €43,362 | €26,445 | -€16,917 | -39.0% |
| Amounts payable | 17/49 | €4,350 | €20,529 | +€16,179 | +372% |
| Amounts payable within one year | 42/48 | €4,350 | €20,529 | +€16,179 | +372% |
| Trade debts | 44 | €1,898 | €6,814 | +€4,916 | +259% |
| Suppliers | 440/4 | €1,898 | €6,814 | +€4,916 | +259% |
| Taxes, remuneration and social security | 45 | €2,452 | €13,715 | +€11,263 | +459% |
| Taxes | 450/3 | €2,452 | €6,523 | +€4,071 | +166% |
| Remuneration and social security | 454/9 | - | €7,192 | +€7,192 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,829 | €522 | -€2,307 | -81.6% |
| Other operating charges | 640/8 | €427 | €400 | -€28 | -6.5% |
| Gross operating margin | 9900 | €3,719 | -€15,092 | -€18,811 | |
| Operating profit (loss) | 9901 | €462 | -€16,013 | -€16,476 | |
| Financial income | 75/76B | €281 | €1 | -€280 | -99.8% |
| Recurring financial income | 75 | €281 | €1 | -€280 | -99.8% |
| Financial charges | 65/66B | €926 | €889 | -€37 | -4.0% |
| Recurring financial charges | 65 | €926 | €889 | -€37 | -4.0% |
| Profit (loss) for the period before taxes | 9903 | -€183 | -€16,902 | -€16,719 | -9,147% |
| Income taxes | 67/77 | €962 | €15 | -€946 | -98.4% |
| Profit (loss) for the period | 9904 | -€1,144 | -€16,917 | -€15,773 | -1,378% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,144 | -€16,917 | -€15,773 | -1,378% |
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 13 October 2026 via checked.be.