ALTISAN: 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.
ALTISAN
Largest movements
- Receivables after one year +€24,930
up €24,930 (+22.4%), from €111,257 to €136,188
- Receivables within one year +€18,858
up €18,858 (+51.1%), from €36,932 to €55,790
of which Trade receivables: +€12,203
- Cash -€9,398
down €9,398 (-50.9%), from €18,453 to €9,055
mainly Contributions, distributions and other (-€138,300) and Receivables after one year (-€24,930)
- Deferred charges and accrued income +€2,865
up €2,865 (+26.0%), from €11,010 to €13,875
- Other debts +€138,300
new in 2025: €138,300
- Reserves -€90,900
down €90,900 (-67.4%), from €134,770 to €43,870
- Profit (loss) carried forward -€12,615
down €12,615 (-100.0%), from €12,620 to €5
- Taxes -€2,059
down €2,059 (-16.3%), from €12,612 to €10,552
- Gross operating margin +€1,499
up €1,499 (+3.2%), from €46,400 to €47,899
- Other operating charges -€1,332
down €1,332 (-37.2%), from €3,585 to €2,253
- Financial charges -€613
down €613 (-39.1%), from €1,569 to €956
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 | €183,387 | €218,585 | +€35,198 | +19.2% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €5,736 | €3,678 | -€2,058 | -35.9% |
| Tangible fixed assets | 22/27 | €5,616 | €3,558 | -€2,058 | -36.6% |
| Plant, machinery and equipment | 23 | €0 | €0 | = | |
| Furniture and vehicles | 24 | €5,616 | €3,558 | -€2,058 | -36.6% |
| Financial fixed assets | 28 | €120 | €120 | = | 0.0% |
| Current assets | 29/58 | €177,651 | €214,907 | +€37,256 | +21.0% |
| Amounts receivable after more than one year | 29 | €111,257 | €136,188 | +€24,930 | +22.4% |
| Other amounts receivable | 291 | €111,257 | €136,188 | +€24,930 | +22.4% |
| Amounts receivable within one year | 40/41 | €36,932 | €55,790 | +€18,858 | +51.1% |
| Trade receivables | 40 | €35,100 | €47,303 | +€12,203 | +34.8% |
| Other amounts receivable | 41 | €1,832 | €8,487 | +€6,655 | +363.3% |
| Cash at bank and in hand | 54/58 | €18,453 | €9,055 | -€9,398 | -50.9% |
| Deferred charges and accrued income | 490/1 | €11,010 | €13,875 | +€2,865 | +26.0% |
| Total equity and liabilities | 10/49 | €183,387 | €218,585 | +€35,198 | +19.2% |
| Equity | 10/15 | €153,590 | €50,075 | -€103,515 | -67.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €134,770 | €43,870 | -€90,900 | -67.4% |
| Distributable reserves | 133 | €134,770 | €43,870 | -€90,900 | -67.4% |
| Profit (loss) carried forward | 14 | €12,620 | €5 | -€12,615 | -100.0% |
| Amounts payable | 17/49 | €29,797 | €168,510 | +€138,713 | +465.5% |
| Amounts payable within one year | 42/48 | €27,838 | €167,731 | +€139,893 | +502.5% |
| Current portion of amounts payable after more than one year | 42 | - | €1,951 | +€1,951 | |
| Trade debts | 44 | €9,074 | €7,641 | -€1,433 | -15.8% |
| Suppliers | 440/4 | €9,074 | €7,641 | -€1,433 | -15.8% |
| Taxes, remuneration and social security | 45 | €18,764 | €19,840 | +€1,076 | +5.7% |
| Taxes | 450/3 | €18,612 | €19,688 | +€1,076 | +5.8% |
| Remuneration and social security | 454/9 | €152 | €152 | = | 0.0% |
| Other amounts payable | 47/48 | - | €138,300 | +€138,300 | |
| Accrued charges and deferred income | 492/3 | €1,959 | €779 | -€1,180 | -60.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,484 | €2,537 | +€52 | +2.1% |
| Other operating charges | 640/8 | €3,585 | €2,253 | -€1,332 | -37.2% |
| Gross operating margin | 9900 | €46,400 | €47,899 | +€1,499 | +3.2% |
| Operating profit (loss) | 9901 | €40,331 | €43,110 | +€2,779 | +6.9% |
| Financial income | 75/76B | €2,862 | €3,184 | +€322 | +11.2% |
| Recurring financial income | 75 | €2,862 | €3,184 | +€322 | +11.2% |
| Financial charges | 65/66B | €1,569 | €956 | -€613 | -39.1% |
| Recurring financial charges | 65 | €1,569 | €956 | -€613 | -39.1% |
| Profit (loss) for the period before taxes | 9903 | €41,624 | €45,337 | +€3,714 | +8.9% |
| Income taxes | 67/77 | €12,612 | €10,552 | -€2,059 | -16.3% |
| Profit (loss) for the period | 9904 | €29,012 | €34,785 | +€5,773 | +19.9% |
| Profit (loss) for the period to be appropriated | 9905 | €29,012 | €34,785 | +€5,773 | +19.9% |
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 9 October 2026 via checked.be.