Altimax: 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.
Altimax
Largest movements
- Tangible fixed assets -€21,061
down €21,061 (-10.6%), from €197,983 to €176,921
of which Land and buildings: -€18,693
- Cash -€17,580
down €17,580 (-11.1%), from €158,256 to €140,676
mainly Contributions, distributions and other (-€35,578) and Receivables within one year (-€16,937)
- Receivables within one year +€16,937
up €16,937 (+199.6%), from €8,487 to €25,424
of which Trade receivables: +€12,465
- Other debts +€20,589
up €20,589 (+211.8%), from €9,723 to €30,311
- Reserves -€20,089
down €20,089 (-9.9%), from €203,504 to €183,415
- Debts after one year -€13,645
down €13,645 (-11.4%), from €119,447 to €105,803
- Tax, wage and social debts -€8,868
down €8,868 (-50.4%), from €17,600 to €8,732
- Gross operating margin -€65,487
down €65,487 (-56.7%), from €115,598 to €50,111
- Taxes -€17,267
down €17,267 (-74.1%), from €23,315 to €6,048
- Financial income -€3,208
no longer reported in 2025 (was €3,208)
- Depreciation -€2,986
down €2,986 (-11.2%), from €26,562 to €23,575
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 | €369,895 | €345,153 | -€24,742 | -6.7% |
| Fixed assets | 21/28 | €197,983 | €176,921 | -€21,061 | -10.6% |
| Tangible fixed assets | 22/27 | €197,983 | €176,921 | -€21,061 | -10.6% |
| Land and buildings | 22 | €189,572 | €170,879 | -€18,693 | -9.9% |
| Plant, machinery and equipment | 23 | €718 | €698 | -€20 | -2.7% |
| Furniture and vehicles | 24 | €7,693 | €5,344 | -€2,349 | -30.5% |
| Current assets | 29/58 | €171,912 | €168,231 | -€3,681 | -2.1% |
| Amounts receivable within one year | 40/41 | €8,487 | €25,424 | +€16,937 | +199.6% |
| Trade receivables | 40 | €3,447 | €15,912 | +€12,465 | +361.7% |
| Other amounts receivable | 41 | €5,040 | €9,512 | +€4,472 | +88.7% |
| Cash at bank and in hand | 54/58 | €158,256 | €140,676 | -€17,580 | -11.1% |
| Deferred charges and accrued income | 490/1 | €5,169 | €2,131 | -€3,038 | -58.8% |
| Total equity and liabilities | 10/49 | €369,895 | €345,153 | -€24,742 | -6.7% |
| Equity | 10/15 | €204,304 | €184,215 | -€20,089 | -9.8% |
| Contributions | 10/11 | €800 | €800 | = | 0.0% |
| Reserves | 13 | €203,504 | €183,415 | -€20,089 | -9.9% |
| Distributable reserves | 133 | €203,504 | €183,415 | -€20,089 | -9.9% |
| Amounts payable | 17/49 | €165,590 | €160,937 | -€4,653 | -2.8% |
| Amounts payable after more than one year | 17 | €119,447 | €105,803 | -€13,645 | -11.4% |
| Financial debts | 170/4 | €119,447 | €105,803 | -€13,645 | -11.4% |
| Amounts payable within one year | 42/48 | €43,792 | €55,102 | +€11,310 | +25.8% |
| Current portion of amounts payable after more than one year | 42 | €13,426 | €13,645 | +€219 | +1.6% |
| Trade debts | 44 | €3,043 | €2,414 | -€629 | -20.7% |
| Suppliers | 440/4 | €3,043 | €2,414 | -€629 | -20.7% |
| Taxes, remuneration and social security | 45 | €17,600 | €8,732 | -€8,868 | -50.4% |
| Taxes | 450/3 | €17,600 | €8,732 | -€8,868 | -50.4% |
| Other amounts payable | 47/48 | €9,723 | €30,311 | +€20,589 | +211.8% |
| Accrued charges and deferred income | 492/3 | €2,351 | €32 | -€2,319 | -98.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,562 | €23,575 | -€2,986 | -11.2% |
| Other operating charges | 640/8 | €2,619 | €2,333 | -€286 | -10.9% |
| Non-recurring operating charges | 66A | €169 | - | -€169 | |
| Gross operating margin | 9900 | €115,598 | €50,111 | -€65,487 | -56.7% |
| Operating profit (loss) | 9901 | €86,248 | €24,203 | -€62,046 | -71.9% |
| Financial income | 75/76B | €3,208 | - | -€3,208 | |
| Recurring financial income | 75 | €3,208 | - | -€3,208 | |
| Financial charges | 65/66B | €2,692 | €2,666 | -€26 | -1.0% |
| Recurring financial charges | 65 | €2,692 | €2,666 | -€26 | -1.0% |
| Profit (loss) for the period before taxes | 9903 | €86,764 | €21,537 | -€65,228 | -75.2% |
| Income taxes | 67/77 | €23,315 | €6,048 | -€17,267 | -74.1% |
| Profit (loss) for the period | 9904 | €63,450 | €15,489 | -€47,961 | -75.6% |
| Profit (loss) for the period to be appropriated | 9905 | €63,450 | €15,489 | -€47,961 | -75.6% |
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 3 October 2026 via checked.be.