ALTIFOR: 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.
ALTIFOR
Largest movements
- Receivables within one year +€45,937
up €45,937 (+1386.9%), from €3,312 to €49,250
of which Trade receivables: +€49,200
- Cash +€9,088
up €9,088 (+20.3%), from €44,760 to €53,848
mainly Net result for the year (+€39,042) and Tax, wage and social debts (+€9,237)
- Tangible fixed assets -€8,468
down €8,468 (-28.3%), from €29,883 to €21,414
- Reserves +€39,042
up €39,042 (+44.9%), from €87,035 to €126,077
- Tax, wage and social debts +€9,237
new in 2025: €9,237
- Other debts -€3,884
down €3,884 (-20.2%), from €19,239 to €15,355
- Trade debts +€1,697
up €1,697 (+1406.9%), from €121 to €1,817
- Gross operating margin +€58,672
up €58,672, from -€3,413 to €55,258
- Taxes +€3,904
new in 2025: €3,904
- Other operating charges +€2,655
up €2,655 (+685.3%), from €387 to €3,042
- Financial charges +€929
up €929 (+1588.2%), from €59 to €988
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 | €77,955 | €124,978 | +€47,023 | +60.3% |
| Fixed assets | 21/28 | €29,883 | €21,414 | -€8,468 | -28.3% |
| Tangible fixed assets | 22/27 | €29,883 | €21,414 | -€8,468 | -28.3% |
| Furniture and vehicles | 24 | €29,883 | €21,414 | -€8,468 | -28.3% |
| Current assets | 29/58 | €48,072 | €103,563 | +€55,492 | +115.4% |
| Amounts receivable within one year | 40/41 | €3,312 | €49,250 | +€45,937 | +1386.9% |
| Trade receivables | 40 | - | €49,200 | +€49,200 | |
| Other amounts receivable | 41 | €3,312 | €50 | -€3,263 | -98.5% |
| Cash at bank and in hand | 54/58 | €44,760 | €53,848 | +€9,088 | +20.3% |
| Deferred charges and accrued income | 490/1 | - | €466 | +€466 | |
| Total equity and liabilities | 10/49 | €77,955 | €124,978 | +€47,023 | +60.3% |
| Equity | 10/15 | €58,596 | €97,637 | +€39,042 | +66.6% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €87,035 | €126,077 | +€39,042 | +44.9% |
| Non-distributable reserves | 130/1 | €87,035 | €126,077 | +€39,042 | +44.9% |
| Other | 1319 | €87,035 | €126,077 | +€39,042 | +44.9% |
| Profit (loss) carried forward | 14 | -€40,839 | -€40,839 | = | 0.0% |
| Amounts payable | 17/49 | €19,359 | €27,341 | +€7,982 | +41.2% |
| Amounts payable within one year | 42/48 | €19,359 | €26,409 | +€7,049 | +36.4% |
| Trade debts | 44 | €121 | €1,817 | +€1,697 | +1406.9% |
| Suppliers | 440/4 | €121 | €1,817 | +€1,697 | +1406.9% |
| Taxes, remuneration and social security | 45 | - | €9,237 | +€9,237 | |
| Taxes | 450/3 | - | €9,237 | +€9,237 | |
| Other amounts payable | 47/48 | €19,239 | €15,355 | -€3,884 | -20.2% |
| Accrued charges and deferred income | 492/3 | - | €932 | +€932 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,468 | €8,468 | = | 0.0% |
| Other operating charges | 640/8 | €387 | €3,042 | +€2,655 | +685.3% |
| Gross operating margin | 9900 | -€3,413 | €55,258 | +€58,672 | |
| Operating profit (loss) | 9901 | -€12,269 | €43,748 | +€56,017 | |
| Financial income | 75/76B | €259 | €186 | -€73 | -28.3% |
| Recurring financial income | 75 | €259 | €186 | -€73 | -28.3% |
| Financial charges | 65/66B | €59 | €988 | +€929 | +1588.2% |
| Recurring financial charges | 65 | €59 | €988 | +€929 | +1588.2% |
| Profit (loss) for the period before taxes | 9903 | -€12,069 | €42,946 | +€55,015 | |
| Income taxes | 67/77 | - | €3,904 | +€3,904 | |
| Profit (loss) for the period | 9904 | -€12,069 | €39,042 | +€51,110 | |
| Profit (loss) for the period to be appropriated | 9905 | -€12,069 | €39,042 | +€51,110 |
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 7 October 2026 via checked.be.