ALTIOR: 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.
ALTIOR
Largest movements
- Current investments -€400,000
down €400,000 (-40.0%), from €1.0m to €600,000
- Cash +€188,256
up €188,256 (+100.0%), from €188,321 to €376,577
mainly Current investments (+€400,000) and Depreciation (+€85,308)
- Tangible fixed assets -€59,106
down €59,106 (-42.6%), from €138,666 to €79,559
of which Plant, machinery and equipment: -€43,119
- Receivables within one year +€32,180
up €32,180 (+5.0%), from €650,079 to €682,260
of which Trade receivables: +€26,695
- Accrued charges and deferred income -€100,000
down €100,000 (-10.6%), from €940,000 to €840,000
- Trade debts -€86,431
down €86,431 (-54.4%), from €158,917 to €72,487
- Debts after one year -€53,855
no longer reported in 2025 (was €53,855)
- Current portion of long-term debt -€47,329
down €47,329 (-43.9%), from €107,890 to €60,561
- Staff costs +€43,225
up €43,225 (+8.0%), from €543,668 to €586,893
- Financial income +€15,343
up €15,343 (+2729.0%), from €562 to €15,905
- Gross operating margin +€11,851
up €11,851 (+1.7%), from €677,593 to €689,444
- Other operating charges -€11,657
down €11,657 (-96.7%), from €12,060 to €402
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 | €1,977,066 | €1,738,396 | -€238,670 | -12.1% |
| Fixed assets | 21/28 | €138,666 | €79,559 | -€59,106 | -42.6% |
| Tangible fixed assets | 22/27 | €138,666 | €79,559 | -€59,106 | -42.6% |
| Plant, machinery and equipment | 23 | €79,589 | €36,469 | -€43,119 | -54.2% |
| Furniture and vehicles | 24 | €59,077 | €43,090 | -€15,987 | -27.1% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €1,838,401 | €1,658,837 | -€179,564 | -9.8% |
| Amounts receivable within one year | 40/41 | €650,079 | €682,260 | +€32,180 | +5.0% |
| Trade receivables | 40 | €586,229 | €612,924 | +€26,695 | +4.6% |
| Other amounts receivable | 41 | €63,851 | €69,336 | +€5,485 | +8.6% |
| Current investments | 50/53 | €1,000,000 | €600,000 | -€400,000 | -40.0% |
| Cash at bank and in hand | 54/58 | €188,321 | €376,577 | +€188,256 | +100.0% |
| Total equity and liabilities | 10/49 | €1,977,066 | €1,738,396 | -€238,670 | -12.1% |
| Equity | 10/15 | €296,535 | €300,627 | +€4,093 | +1.4% |
| Contributions | 10/11 | €195,000 | €195,000 | = | 0.0% |
| Reserves | 13 | €4,183 | €4,183 | = | 0.0% |
| Distributable reserves | 133 | €4,183 | €4,183 | = | 0.0% |
| Profit (loss) carried forward | 14 | €97,351 | €101,444 | +€4,093 | +4.2% |
| Provisions and deferred taxes | 16 | €81,224 | €95,371 | +€14,147 | +17.4% |
| Provisions for liabilities and charges | 160/5 | €81,224 | €95,371 | +€14,147 | +17.4% |
| Pensions and similar obligations | 160 | €81,224 | €95,371 | +€14,147 | +17.4% |
| Amounts payable | 17/49 | €1,599,307 | €1,342,398 | -€256,909 | -16.1% |
| Amounts payable after more than one year | 17 | €53,855 | - | -€53,855 | |
| Financial debts | 170/4 | €53,855 | - | -€53,855 | |
| Amounts payable within one year | 42/48 | €605,452 | €502,398 | -€103,054 | -17.0% |
| Current portion of amounts payable after more than one year | 42 | €107,890 | €60,561 | -€47,329 | -43.9% |
| Trade debts | 44 | €158,917 | €72,487 | -€86,431 | -54.4% |
| Suppliers | 440/4 | €158,917 | €72,487 | -€86,431 | -54.4% |
| Taxes, remuneration and social security | 45 | €17,997 | €37,687 | +€19,690 | +109.4% |
| Taxes | 450/3 | €17,997 | €37,687 | +€19,690 | +109.4% |
| Other amounts payable | 47/48 | €320,647 | €331,663 | +€11,016 | +3.4% |
| Accrued charges and deferred income | 492/3 | €940,000 | €840,000 | -€100,000 | -10.6% |
| Remuneration, social security and pensions | 62 | €543,668 | €586,893 | +€43,225 | +8.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €86,198 | €85,308 | -€889 | -1.0% |
| Other operating charges | 640/8 | €12,060 | €402 | -€11,657 | -96.7% |
| Gross operating margin | 9900 | €677,593 | €689,444 | +€11,851 | +1.7% |
| Operating profit (loss) | 9901 | €35,668 | €16,840 | -€18,828 | -52.8% |
| Financial income | 75/76B | €562 | €15,905 | +€15,343 | +2729.0% |
| Recurring financial income | 75 | €562 | €15,905 | +€15,343 | +2729.0% |
| Financial charges | 65/66B | €16,029 | €15,733 | -€296 | -1.8% |
| Recurring financial charges | 65 | €16,029 | €15,733 | -€296 | -1.8% |
| Profit (loss) for the period before taxes | 9903 | €20,201 | €17,013 | -€3,189 | -15.8% |
| Income taxes | 67/77 | €18,684 | €12,920 | -€5,764 | -30.8% |
| Profit (loss) for the period | 9904 | €1,518 | €4,093 | +€2,575 | +169.7% |
| Profit (loss) for the period to be appropriated | 9905 | €1,518 | €4,093 | +€2,575 | +169.7% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.