ALTIMA INVEST: what changed
ALTIMA INVEST
Largest movements
- Deferred charges and accrued income -€29,072
down €29,072 (-81.5%), from €35,674 to €6,602
- Receivables within one year +€14,797
up €14,797 (+118%), from €12,544 to €27,340
of which Trade receivables: +€19,912
- Cash +€13,371
up €13,371 (+57.8%), from €23,129 to €36,500
mainly Deferred charges and accrued income (+€29,072) and Trade debts (+€12,550)
- Tangible fixed assets -€9,200
down €9,200 (-30.2%), from €30,468 to €21,268
of which Land and buildings: -€6,613
- Profit (loss) carried forward -€28,933
new in 2025: -€28,933
- Trade debts +€12,550
up €12,550 (+89.0%), from €14,097 to €26,647
- Accrued charges and deferred income +€2,642
new in 2025: €2,642
- Other debts +€1,884
up €1,884 (+7.4%), from €25,494 to €27,378
- Tax, wage and social debts +€1,741
up €1,741 (+18.4%), from €9,471 to €11,211
of which Taxes: +€976
- Gross operating margin -€4,529
down €4,529 (-8.1%), from €55,830 to €51,301
- Depreciation -€1,728
down €1,728 (-15.8%), from €10,928 to €9,200
- Taxes -€1,312
down €1,312, from €1,305 to -€7
- Staff costs -€1,007
down €1,007 (-3.0%), from €33,304 to €32,297
- Other operating charges +€658
up €658 (+16.0%), from €4,105 to €4,763
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €108,748 | €98,026 | -€10,722 | -9.9% |
| Fixed assets | 21/28 | €32,021 | €22,613 | -€9,408 | -29.4% |
| Tangible fixed assets | 22/27 | €30,468 | €21,268 | -€9,200 | -30.2% |
| Land and buildings | 22 | €25,335 | €18,722 | -€6,613 | -26.1% |
| Plant, machinery and equipment | 23 | €4,079 | €1,777 | -€2,302 | -56.4% |
| Furniture and vehicles | 24 | €1,054 | €769 | -€285 | -27.1% |
| Financial fixed assets | 28 | €1,553 | €1,345 | -€208 | -13.4% |
| Current assets | 29/58 | €76,727 | €75,413 | -€1,314 | -1.7% |
| Stocks and contracts in progress | 3 | €5,380 | €4,970 | -€410 | -7.6% |
| Stocks | 30/36 | €5,380 | €4,970 | -€410 | -7.6% |
| Amounts receivable within one year | 40/41 | €12,544 | €27,340 | +€14,797 | +118% |
| Trade receivables | 40 | €2,452 | €22,364 | +€19,912 | +812% |
| Other amounts receivable | 41 | €10,091 | €4,976 | -€5,115 | -50.7% |
| Cash at bank and in hand | 54/58 | €23,129 | €36,500 | +€13,371 | +57.8% |
| Deferred charges and accrued income | 490/1 | €35,674 | €6,602 | -€29,072 | -81.5% |
| Total equity and liabilities | 10/49 | €108,748 | €98,026 | -€10,722 | -9.9% |
| Equity | 10/15 | €8,257 | -€20,676 | -€28,933 | |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €5,257 | €5,257 | = | 0.0% |
| Distributable reserves | 133 | €5,257 | €5,257 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€28,933 | -€28,933 | |
| Amounts payable | 17/49 | €100,491 | €118,702 | +€18,211 | +18.1% |
| Amounts payable within one year | 42/48 | €100,491 | €116,060 | +€15,569 | +15.5% |
| Financial debts | 43 | €50,824 | €50,824 | = | 0.0% |
| Other loans | 439 | €50,824 | €50,824 | = | 0.0% |
| Trade debts | 44 | €14,097 | €26,647 | +€12,550 | +89.0% |
| Suppliers | 440/4 | €14,097 | €26,647 | +€12,550 | +89.0% |
| Advances received on contracts in progress | 46 | €605 | €0 | -€605 | -100% |
| Taxes, remuneration and social security | 45 | €9,471 | €11,211 | +€1,741 | +18.4% |
| Taxes | 450/3 | €8,373 | €9,349 | +€976 | +11.7% |
| Remuneration and social security | 454/9 | €1,098 | €1,862 | +€765 | +69.6% |
| Other amounts payable | 47/48 | €25,494 | €27,378 | +€1,884 | +7.4% |
| Accrued charges and deferred income | 492/3 | - | €2,642 | +€2,642 | |
| Non-recurring operating income | 76A | - | €411 | +€411 | |
| Remuneration, social security and pensions | 62 | €33,304 | €32,297 | -€1,007 | -3.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,928 | €9,200 | -€1,728 | -15.8% |
| Other operating charges | 640/8 | €4,105 | €4,763 | +€658 | +16.0% |
| Non-recurring operating charges | 66A | - | €32,810 | +€32,810 | |
| Gross operating margin | 9900 | €55,830 | €51,301 | -€4,529 | -8.1% |
| Operating profit (loss) | 9901 | €7,493 | -€27,770 | -€35,263 | |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €931 | €1,172 | +€241 | +25.9% |
| Recurring financial charges | 65 | €931 | €1,172 | +€241 | +25.9% |
| Profit (loss) for the period before taxes | 9903 | €6,562 | -€28,940 | -€35,502 | |
| Income taxes | 67/77 | €1,305 | -€7 | -€1,312 | |
| Profit (loss) for the period | 9904 | €5,257 | -€28,933 | -€34,190 | |
| Profit (loss) for the period to be appropriated | 9905 | €5,257 | -€28,933 | -€34,190 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.