ALTIORE: 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.
What changed
ALTIORE
NACE 47.400, Retail sale of information and communication equipment
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€280,516
2024 · €28,191+€252,326
Equity
-€211,339
2024 · -€491,855+€280,516
Cash
€144,235
2024 · €233,451-€89,217
Balance sheet total
€1.6m
2024 · €1.3m+€305,989
Largest movements
Assets
- Stocks and contracts +€284,007
up €284,007 (+215.7%), from €131,673 to €415,680
- Cash -€89,217
down €89,217 (-38.2%), from €233,451 to €144,235
mainly Stocks and contracts (-€284,007) and Deferred charges and accrued income (-€82,797)
- Deferred charges and accrued income +€82,797
up €82,797 (+121.1%), from €68,378 to €151,175
- Receivables within one year +€51,809
up €51,809 (+8.7%), from €592,271 to €644,080
of which Trade receivables: +€51,819
- Intangible fixed assets -€23,380
down €23,380 (-9.3%), from €251,452 to €228,072
Equity and liabilities
- Profit (loss) carried forward +€280,516
up €280,516 (+32.5%), from -€861,811 to -€581,295
- Accrued charges and deferred income +€106,473
up €106,473 (+208.5%), from €51,072 to €157,545
- Debts after one year -€82,231
down €82,231 (-47.1%), from €174,753 to €92,522
- Trade debts -€24,895
down €24,895 (-6.0%), from €411,508 to €386,613
- Tax, wage and social debts +€23,200
up €23,200 (+12.0%), from €193,483 to €216,683
of which Remuneration and social security: +€26,060
Income statement
- Turnover +€855,375
up €855,375 (+19.0%), from €4.5m to €5.4m
- Goods and materials +€360,774
up €360,774 (+16.7%), from €2.2m to €2.5m
of which Purchases: +€728,899
- Staff costs +€256,266
up €256,266 (+16.2%), from €1.6m to €1.8m
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.
Result 2024
€28,191
Turnover
+€855,375
Other operating income
+€14,884
Goods and materials
-€360,774
Services and other goods
-€37,420
Staff costs
-€256,266
Depreciation
+€12,638
Write-downs
-€32,299
Other operating charges
+€7,032
Other operating items
+€52,475
Financial income
-€5
Financial charges
-€3,249
Taxes
-€65
Result 2025
€280,516
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.
From operations
+€94,835
Investment
-€86,742
Financing
-€97,310
Cash 2024
€233,451
From operations (derived)
+€94,835
Net result for the year
+€280,516
Depreciation
+€110,149
Stocks and contracts
-€284,007
Receivables within one year
-€51,809
Deferred charges and accrued income
-€82,797
Trade debts
-€24,895
Tax, wage and social debts
+€23,200
Other debts
+€18,004
Accrued charges and deferred income
+€106,473
Investment (derived)
-€86,742
Investment in fixed assets (net)
-€73,142
Current investments
-€13,600
Financing
-€97,310
Debts after one year
-€82,231
Current portion of long-term debt
-€15,079
Cash 2025
€144,235
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,338,052 | €1,644,040 | +€305,989 | +22.9% |
| Fixed assets | 21/28 | €312,279 | €275,271 | -€37,008 | -11.9% |
| Intangible fixed assets | 21 | €251,452 | €228,072 | -€23,380 | -9.3% |
| Tangible fixed assets | 22/27 | €60,827 | €47,200 | -€13,628 | -22.4% |
| Plant, machinery and equipment | 23 | €811 | €467 | -€344 | -42.5% |
| Furniture and vehicles | 24 | €60,016 | €46,733 | -€13,283 | -22.1% |
| Current assets | 29/58 | €1,025,773 | €1,368,769 | +€342,996 | +33.4% |
| Stocks and contracts in progress | 3 | €131,673 | €415,680 | +€284,007 | +215.7% |
| Stocks | 30/36 | €131,673 | €415,680 | +€284,007 | +215.7% |
| Goods purchased for resale | 34 | €131,673 | €415,680 | +€284,007 | +215.7% |
| Amounts receivable within one year | 40/41 | €592,271 | €644,080 | +€51,809 | +8.7% |
| Trade receivables | 40 | €590,679 | €642,498 | +€51,819 | +8.8% |
| Other amounts receivable | 41 | €1,592 | €1,582 | -€10 | -0.6% |
| Current investments | 50/53 | - | €13,600 | +€13,600 | |
| Other investments | 51/53 | - | €13,600 | +€13,600 | |
| Cash at bank and in hand | 54/58 | €233,451 | €144,235 | -€89,217 | -38.2% |
| Deferred charges and accrued income | 490/1 | €68,378 | €151,175 | +€82,797 | +121.1% |
| Total equity and liabilities | 10/49 | €1,338,052 | €1,644,040 | +€305,989 | +22.9% |
| Equity | 10/15 | -€491,855 | -€211,339 | +€280,516 | +57.0% |
| Contributions | 10/11 | €209,860 | €209,860 | = | 0.0% |
| Capital | 10 | €209,860 | €209,860 | = | 0.0% |
| Issued capital | 100 | €209,860 | €209,860 | = | 0.0% |
| Reserves | 13 | €160,096 | €160,096 | = | 0.0% |
| Non-distributable reserves | 130/1 | €20,986 | €20,986 | = | 0.0% |
| Legal reserve | 130 | €20,986 | €20,986 | = | 0.0% |
| Distributable reserves | 133 | €139,110 | €139,110 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€861,811 | -€581,295 | +€280,516 | +32.5% |
| Amounts payable | 17/49 | €1,829,907 | €1,855,379 | +€25,472 | +1.4% |
| Amounts payable after more than one year | 17 | €174,753 | €92,522 | -€82,231 | -47.1% |
| Financial debts | 170/4 | €174,753 | €92,522 | -€82,231 | -47.1% |
| Credit institutions | 173 | €174,753 | €92,522 | -€82,231 | -47.1% |
| Amounts payable within one year | 42/48 | €1,604,082 | €1,605,312 | +€1,230 | +0.1% |
| Current portion of amounts payable after more than one year | 42 | €97,310 | €82,231 | -€15,079 | -15.5% |
| Trade debts | 44 | €411,508 | €386,613 | -€24,895 | -6.0% |
| Suppliers | 440/4 | €411,508 | €386,613 | -€24,895 | -6.0% |
| Taxes, remuneration and social security | 45 | €193,483 | €216,683 | +€23,200 | +12.0% |
| Taxes | 450/3 | €30,213 | €27,353 | -€2,860 | -9.5% |
| Remuneration and social security | 454/9 | €163,271 | €189,330 | +€26,060 | +16.0% |
| Other amounts payable | 47/48 | €901,781 | €919,784 | +€18,004 | +2.0% |
| Accrued charges and deferred income | 492/3 | €51,072 | €157,545 | +€106,473 | +208.5% |
| Operating income | 70/76A | €4,630,224 | €5,543,957 | +€913,733 | +19.7% |
| Turnover | 70 | €4,513,180 | €5,368,554 | +€855,375 | +19.0% |
| Own construction capitalised | 72 | - | €50,866 | +€50,866 | |
| Other operating income | 74 | €109,654 | €124,538 | +€14,884 | +13.6% |
| Non-recurring operating income | 76A | €7,391 | - | -€7,391 | |
| Operating charges | 60/66A | €4,564,082 | €5,222,170 | +€658,088 | +14.4% |
| Goods for resale, raw materials and consumables | 60 | €2,158,503 | €2,519,277 | +€360,774 | +16.7% |
| Purchases | 600/8 | €2,097,249 | €2,826,148 | +€728,899 | +34.8% |
| Change in stocks: decrease (increase) | 609 | €61,254 | -€306,871 | -€368,125 | |
| Services and other goods | 61 | €696,476 | €733,895 | +€37,420 | +5.4% |
| Remuneration, social security and pensions | 62 | €1,581,306 | €1,837,572 | +€256,266 | +16.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €122,787 | €110,149 | -€12,638 | -10.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€18,261 | €14,037 | +€32,299 | |
| Other operating charges | 640/8 | €14,271 | €7,239 | -€7,032 | -49.3% |
| Non-recurring operating charges | 66A | €9,000 | - | -€9,000 | |
| Operating profit (loss) | 9901 | €66,142 | €321,787 | +€255,645 | +386.5% |
| Financial income | 75/76B | €31 | €26 | -€5 | -15.9% |
| Recurring financial income | 75 | €31 | €26 | -€5 | -15.9% |
| Income from current assets | 751 | €31 | €22 | -€9 | -28.8% |
| Other financial income | 752/9 | €1 | €5 | +€4 | +505.3% |
| Financial charges | 65/66B | €33,517 | €36,767 | +€3,249 | +9.7% |
| Recurring financial charges | 65 | €33,517 | €36,767 | +€3,249 | +9.7% |
| Debt charges | 650 | €33,488 | €36,734 | +€3,246 | +9.7% |
| Other financial charges | 652/9 | €30 | €33 | +€3 | +11.0% |
| Profit (loss) for the period before taxes | 9903 | €32,656 | €285,047 | +€252,391 | +772.9% |
| Income taxes | 67/77 | €4,466 | €4,531 | +€65 | +1.5% |
| Taxes | 670/3 | €4,466 | €4,531 | +€65 | +1.5% |
| Profit (loss) for the period | 9904 | €28,191 | €280,516 | +€252,326 | +895.1% |
| Profit (loss) for the period to be appropriated | 9905 | €28,191 | €280,516 | +€252,326 | +895.1% |
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 11 October 2026 via checked.be.