ALTINEX: 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.
ALTINEX
Largest movements
- Receivables within one year +€31,509
up €31,509 (+470%), from €6,705 to €38,214
of which Other amounts receivable: +€20,618
- Cash -€10,956
down €10,956 (-87.5%), from €12,520 to €1,564
mainly Receivables within one year (-€31,509) and Investment in fixed assets (net) (-€14,000)
- Tangible fixed assets +€9,938
up €9,938 (+194%), from €5,133 to €15,070
- Deferred charges and accrued income -€1,429
down €1,429 (-24.5%), from €5,839 to €4,410
- Reserves +€12,539
up €12,539 (+51.4%), from €24,401 to €36,940
- Tax, wage and social debts +€7,286
up €7,286 (+444%), from €1,640 to €8,926
- Debts after one year +€4,827
new in 2025: €4,827
- Current portion of long-term debt +€3,973
new in 2025: €3,973
- Gross operating margin +€3,754
up €3,754 (+18.4%), from €20,377 to €24,131
- Depreciation +€3,123
up €3,123 (+332%), from €940 to €4,063
- Financial income +€698
up €698, from €0 to €698
- Taxes +€340
up €340 (+8.8%), from €3,840 to €4,180
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 | €30,196 | €59,258 | +€29,061 | +96.2% |
| Fixed assets | 21/28 | €5,133 | €15,070 | +€9,938 | +194% |
| Tangible fixed assets | 22/27 | €5,133 | €15,070 | +€9,938 | +194% |
| Furniture and vehicles | 24 | €5,133 | €15,070 | +€9,938 | +194% |
| Current assets | 29/58 | €25,064 | €44,188 | +€19,124 | +76.3% |
| Amounts receivable within one year | 40/41 | €6,705 | €38,214 | +€31,509 | +470% |
| Trade receivables | 40 | €120 | €11,011 | +€10,891 | +9,083% |
| Other amounts receivable | 41 | €6,585 | €27,203 | +€20,618 | +313% |
| Cash at bank and in hand | 54/58 | €12,520 | €1,564 | -€10,956 | -87.5% |
| Deferred charges and accrued income | 490/1 | €5,839 | €4,410 | -€1,429 | -24.5% |
| Total equity and liabilities | 10/49 | €30,196 | €59,258 | +€29,061 | +96.2% |
| Equity | 10/15 | €28,401 | €40,940 | +€12,539 | +44.1% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €24,401 | €36,940 | +€12,539 | +51.4% |
| Distributable reserves | 133 | €24,401 | €36,940 | +€12,539 | +51.4% |
| Amounts payable | 17/49 | €1,795 | €18,317 | +€16,522 | +921% |
| Amounts payable after more than one year | 17 | - | €4,827 | +€4,827 | |
| Financial debts | 170/4 | - | €4,827 | +€4,827 | |
| Amounts payable within one year | 42/48 | €1,795 | €13,064 | +€11,269 | +628% |
| Current portion of amounts payable after more than one year | 42 | - | €3,973 | +€3,973 | |
| Trade debts | 44 | €81 | €165 | +€84 | +104% |
| Suppliers | 440/4 | €81 | €165 | +€84 | +104% |
| Taxes, remuneration and social security | 45 | €1,640 | €8,926 | +€7,286 | +444% |
| Taxes | 450/3 | €1,640 | €8,926 | +€7,286 | +444% |
| Other amounts payable | 47/48 | €74 | €0 | -€74 | -100% |
| Accrued charges and deferred income | 492/3 | €0 | €427 | +€427 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €940 | €4,063 | +€3,123 | +332% |
| Other operating charges | 640/8 | €321 | €310 | -€12 | -3.6% |
| Gross operating margin | 9900 | €20,377 | €24,131 | +€3,754 | +18.4% |
| Operating profit (loss) | 9901 | €19,116 | €19,759 | +€643 | +3.4% |
| Financial income | 75/76B | €0 | €698 | +€698 | |
| Recurring financial income | 75 | €0 | €698 | +€698 | |
| Financial charges | 65/66B | €3,768 | €3,738 | -€29 | -0.8% |
| Recurring financial charges | 65 | €3,768 | €3,738 | -€29 | -0.8% |
| Profit (loss) for the period before taxes | 9903 | €15,348 | €16,719 | +€1,371 | +8.9% |
| Income taxes | 67/77 | €3,840 | €4,180 | +€340 | +8.8% |
| Profit (loss) for the period | 9904 | €11,508 | €12,539 | +€1,031 | +9.0% |
| Profit (loss) for the period to be appropriated | 9905 | €11,508 | €12,539 | +€1,031 | +9.0% |
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 19 October 2026 via checked.be.