Altitude 150: 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.
Altitude 150
Largest movements
- Financial fixed assets +€26.9m
up €26.9m (+309%), from €8.7m to €35.6m
of which Affiliated companies: +€28.4m
- Current investments -€17.9m
down €17.9m (-88.4%), from €20.3m to €2.4m
- Receivables within one year +€777,416
up €777,416 (+28,742%), from €2,705 to €780,121
of which Trade receivables: +€552,088
- Cash +€498,284
up €498,284 (+191%), from €261,166 to €759,450
- Reserves +€11.7m
up €11.7m (+45.9%), from €25.4m to €37.1m
- Tax, wage and social debts -€1.6m
down €1.6m (-95.2%), from €1.6m to €79,377
- Financial income +€8.8m
up €8.8m (+1,555%), from €569,179 to €9.4m
- Gross operating margin -€7.3m
no longer reported in 2025 (was €7.3m)
- Turnover +€4.2m
new in 2025: €4.2m
- Taxes -€1.6m
down €1.6m (-64.2%), from €2.5m to €887,558
- Services and other goods +€907,675
new in 2025: €907,675
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
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €29,390,072 | €39,507,320 | +€10.1m | +34.4% |
| Fixed assets | 21/28 | €8,781,713 | €35,606,416 | +€26.8m | +305% |
| Tangible fixed assets | 22/27 | €74,926 | €32,781 | -€42,145 | -56.2% |
| Plant, machinery and equipment | 23 | €4,575 | €4,274 | -€300 | -6.6% |
| Furniture and vehicles | 24 | €70,351 | €28,506 | -€41,845 | -59.5% |
| Financial fixed assets | 28 | €8,706,787 | €35,573,636 | +€26.9m | +309% |
| Affiliated companies | 280/1 | - | €28,398,987 | +€28.4m | |
| Participating interests | 280 | - | €28,398,987 | +€28.4m | |
| Companies linked by participating interests | 282/3 | - | €7,174,648 | +€7.2m | |
| Participating interests | 282 | - | €7,174,648 | +€7.2m | |
| Current assets | 29/58 | €20,608,359 | €3,900,904 | -€16.7m | -81.1% |
| Stocks and contracts in progress | 3 | - | €0 | = | |
| Amounts receivable within one year | 40/41 | €2,705 | €780,121 | +€777,416 | +28,742% |
| Trade receivables | 40 | - | €552,088 | +€552,088 | |
| Other amounts receivable | 41 | €2,705 | €228,033 | +€225,328 | +8,331% |
| Current investments | 50/53 | €20,300,000 | €2,358,375 | -€17.9m | -88.4% |
| Other investments | 51/53 | - | €2,358,375 | +€2.4m | |
| Cash at bank and in hand | 54/58 | €261,166 | €759,450 | +€498,284 | +191% |
| Deferred charges and accrued income | 490/1 | €44,488 | €2,958 | -€41,529 | -93.4% |
| Total equity and liabilities | 10/49 | €29,390,072 | €39,507,320 | +€10.1m | +34.4% |
| Equity | 10/15 | €27,743,515 | €39,407,345 | +€11.7m | +42.0% |
| Contributions | 10/11 | €2,356,000 | €2,356,000 | = | 0.0% |
| Reserves | 13 | €25,386,400 | €37,050,400 | +€11.7m | +45.9% |
| Distributable reserves | 133 | €25,386,400 | €37,050,400 | +€11.7m | +45.9% |
| Profit (loss) carried forward | 14 | €1,115 | €945 | -€171 | -15.3% |
| Amounts payable | 17/49 | €1,646,556 | €99,975 | -€1.5m | -93.9% |
| Amounts payable within one year | 42/48 | €1,643,056 | €82,900 | -€1.6m | -95.0% |
| Trade debts | 44 | €634 | €3,524 | +€2,890 | +456% |
| Suppliers | 440/4 | €634 | €3,524 | +€2,890 | +456% |
| Taxes, remuneration and social security | 45 | €1,642,423 | €79,377 | -€1.6m | -95.2% |
| Taxes | 450/3 | €1,642,423 | €79,377 | -€1.6m | -95.2% |
| Accrued charges and deferred income | 492/3 | €3,500 | €17,075 | +€13,575 | +388% |
| Operating income | 70/76A | - | €4,196,285 | +€4.2m | |
| Turnover | 70 | - | €4,161,200 | +€4.2m | |
| Other operating income | 74 | - | €35,085 | +€35,085 | |
| Operating charges | 60/66A | - | €970,197 | +€970,197 | |
| Services and other goods | 61 | - | €907,675 | +€907,675 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,570 | €43,135 | +€14,565 | +51.0% |
| Other operating charges | 640/8 | €1,910 | €19,387 | +€17,477 | +915% |
| Gross operating margin | 9900 | €7,298,459 | - | -€7.3m | |
| Operating profit (loss) | 9901 | €7,267,980 | €3,226,089 | -€4.0m | -55.6% |
| Financial income | 75/76B | €569,179 | €9,417,923 | +€8.8m | +1,555% |
| Recurring financial income | 75 | €569,179 | €9,417,923 | +€8.8m | +1,555% |
| Income from financial fixed assets | 750 | - | €9,031,713 | +€9.0m | |
| Income from current assets | 751 | - | €352,596 | +€352,596 | |
| Other financial income | 752/9 | - | €33,615 | +€33,615 | |
| Financial charges | 65/66B | €445 | €92,624 | +€92,179 | +20,737% |
| Recurring financial charges | 65 | €445 | €92,624 | +€92,179 | +20,737% |
| Debt charges | 650 | - | €51,905 | +€51,905 | |
| Other financial charges | 652/9 | - | €40,719 | +€40,719 | |
| Profit (loss) for the period before taxes | 9903 | €7,836,714 | €12,551,387 | +€4.7m | +60.2% |
| Income taxes | 67/77 | €2,479,399 | €887,558 | -€1.6m | -64.2% |
| Taxes | 670/3 | - | €892,468 | +€892,468 | |
| Tax adjustments and reversals of tax provisions | 77 | - | €4,910 | +€4,910 | |
| Profit (loss) for the period | 9904 | €5,357,315 | €11,663,829 | +€6.3m | +118% |
| Profit (loss) for the period to be appropriated | 9905 | €5,357,315 | €11,663,829 | +€6.3m | +118% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 23 October 2026 via checked.be.