ALTITUDE 500: 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
ALTITUDE 500
NACE 01.301, Crop and animal production, hunting and related service activities
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€589,104
2024 · €313,708+€275,396
Equity
€4.5m
2024 · €3.9m+€565,254
Cash
€300,639
2024 · €387,199-€86,560
Balance sheet total
€13.3m
2024 · €13.0m+€270,375
Largest movements
Assets
- Receivables within one year -€394,786
down €394,786 (-26.2%), from €1.5m to €1.1m
of which Trade receivables: -€326,422
- Stocks and contracts +€336,164
up €336,164 (+4.9%), from €6.9m to €7.3m
of which Stocks: +€353,267
- Deferred charges and accrued income +€229,333
up €229,333 (+687%), from €33,398 to €262,731
Equity and liabilities
- Short-term financial debts -€720,000
down €720,000 (-17.5%), from €4.1m to €3.4m
- Profit (loss) carried forward +€600,865
up €600,865 (+25.7%), from €2.3m to €2.9m
- Debts after one year +€218,277
up €218,277 (+12.4%), from €1.8m to €2.0m
- Current portion of long-term debt +€167,515
up €167,515 (+25.6%), from €653,511 to €821,025
Income statement
- Gross operating margin +€293,831
up €293,831 (+8.6%), from €3.4m to €3.7m
- Taxes +€99,780
up €99,780 (+85.7%), from €116,449 to €216,229
- Financial charges -€88,813
down €88,813 (-36.8%), from €241,633 to €152,820
of which Financial charges: -€88,227
- Staff costs -€55,046
down €55,046 (-2.2%), from €2.5m to €2.4m
- Financial income -€44,374
down €44,374 (-85.6%), from €51,825 to €7,451
of which Financial income: -€44,374
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
€313,708
Gross operating margin
+€293,831
Staff costs
+€55,046
Depreciation
+€10,982
Write-downs
-€12,652
Other operating charges
-€16,470
Financial income
-€44,374
Financial charges
+€88,813
Taxes
-€99,780
Result 2025
€589,104
raises the resultlowers the result
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.
From operations
+€730,566
Investment
-€459,067
Financing
-€358,059
Cash 2024
€387,199
From operations (derived)
+€730,566
Net result for the year
+€589,104
Depreciation
+€277,242
Receivables after one year
-€4,400
Stocks and contracts
-€336,164
Receivables within one year
+€394,786
Deferred charges and accrued income
-€229,333
Trade debts
+€13,040
Tax, wage and social debts
+€54,807
Other debts
-€28,518
Investment (derived)
-€459,067
Investment in fixed assets (net)
-€374,845
Current investments
-€84,222
Financing
-€358,059
Debts after one year
+€218,277
Current portion of long-term debt
+€167,515
Short-term financial debts
-€720,000
Contributions, distributions and other
-€23,850
Cash 2025
€300,639
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €13,038,403 | €13,308,779 | +€270,375 | +2.1% |
| Fixed assets | 21/28 | €3,733,166 | €3,830,769 | +€97,603 | +2.6% |
| Intangible fixed assets | 21 | €16,560 | €50,847 | +€34,287 | +207% |
| Tangible fixed assets | 22/27 | €3,584,777 | €3,648,093 | +€63,316 | +1.8% |
| Land and buildings | 22 | €3,248,517 | €3,307,118 | +€58,601 | +1.8% |
| Plant, machinery and equipment | 23 | €151,869 | €119,424 | -€32,445 | -21.4% |
| Furniture and vehicles | 24 | €91,986 | €86,066 | -€5,919 | -6.4% |
| Other tangible fixed assets | 26 | €29,450 | €32,753 | +€3,303 | +11.2% |
| Assets under construction and advance payments | 27 | €62,955 | €102,732 | +€39,777 | +63.2% |
| Financial fixed assets | 28 | €131,830 | €131,830 | = | 0.0% |
| Current assets | 29/58 | €9,305,237 | €9,478,009 | +€172,772 | +1.9% |
| Amounts receivable after more than one year | 29 | €454,755 | €459,155 | +€4,400 | +1.0% |
| Trade receivables | 290 | €14,755 | - | -€14,755 | |
| Other amounts receivable | 291 | €440,000 | €459,155 | +€19,155 | +4.4% |
| Stocks and contracts in progress | 3 | €6,922,101 | €7,258,264 | +€336,164 | +4.9% |
| Stocks | 30/36 | €6,872,169 | €7,225,435 | +€353,267 | +5.1% |
| Contracts in progress | 37 | €49,932 | €32,829 | -€17,103 | -34.3% |
| Amounts receivable within one year | 40/41 | €1,507,062 | €1,112,276 | -€394,786 | -26.2% |
| Trade receivables | 40 | €1,227,453 | €901,031 | -€326,422 | -26.6% |
| Other amounts receivable | 41 | €279,609 | €211,245 | -€68,364 | -24.4% |
| Current investments | 50/53 | €722 | €84,944 | +€84,222 | +11,664% |
| Cash at bank and in hand | 54/58 | €387,199 | €300,639 | -€86,560 | -22.4% |
| Deferred charges and accrued income | 490/1 | €33,398 | €262,731 | +€229,333 | +687% |
| Total equity and liabilities | 10/49 | €13,038,403 | €13,308,779 | +€270,375 | +2.1% |
| Equity | 10/15 | €3,901,094 | €4,466,348 | +€565,254 | +14.5% |
| Contributions | 10/11 | €310,000 | €310,000 | = | 0.0% |
| Capital | 10 | €310,000 | €310,000 | = | 0.0% |
| Issued capital | 100 | €310,000 | €310,000 | = | 0.0% |
| Reserves | 13 | €1,249,035 | €1,214,279 | -€34,756 | -2.8% |
| Non-distributable reserves | 130/1 | €44,136 | €44,136 | = | 0.0% |
| Legal reserve | 130 | €44,136 | €44,136 | = | 0.0% |
| Tax-exempt reserves | 132 | €168,333 | €133,577 | -€34,756 | -20.6% |
| Distributable reserves | 133 | €1,036,566 | €1,036,566 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,339,494 | €2,940,359 | +€600,865 | +25.7% |
| Investment grants | 15 | €2,565 | €1,710 | -€855 | -33.3% |
| Amounts payable | 17/49 | €9,137,310 | €8,842,431 | -€294,879 | -3.2% |
| Amounts payable after more than one year | 17 | €1,755,459 | €1,973,736 | +€218,277 | +12.4% |
| Financial debts | 170/4 | €1,755,459 | €1,973,736 | +€218,277 | +12.4% |
| Amounts payable within one year | 42/48 | €7,381,851 | €6,868,695 | -€513,155 | -7.0% |
| Current portion of amounts payable after more than one year | 42 | €653,511 | €821,025 | +€167,515 | +25.6% |
| Financial debts | 43 | €4,110,000 | €3,390,000 | -€720,000 | -17.5% |
| Credit institutions | 430/8 | €4,110,000 | €3,390,000 | -€720,000 | -17.5% |
| Trade debts | 44 | €1,185,071 | €1,198,112 | +€13,040 | +1.1% |
| Suppliers | 440/4 | €1,185,071 | €1,198,112 | +€13,040 | +1.1% |
| Taxes, remuneration and social security | 45 | €244,275 | €299,082 | +€54,807 | +22.4% |
| Taxes | 450/3 | €103,860 | €190,169 | +€86,309 | +83.1% |
| Remuneration and social security | 454/9 | €140,414 | €108,913 | -€31,501 | -22.4% |
| Other amounts payable | 47/48 | €1,188,994 | €1,160,476 | -€28,518 | -2.4% |
| Remuneration, social security and pensions | 62 | €2,488,196 | €2,433,150 | -€55,046 | -2.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €288,224 | €277,242 | -€10,982 | -3.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €12,652 | +€12,652 | |
| Other operating charges | 640/8 | €24,408 | €40,878 | +€16,470 | +67.5% |
| Gross operating margin | 9900 | €3,420,793 | €3,714,624 | +€293,831 | +8.6% |
| Operating profit (loss) | 9901 | €619,965 | €950,702 | +€330,737 | +53.3% |
| Financial income | 75/76B | €51,825 | €7,451 | -€44,374 | -85.6% |
| Recurring financial income | 75 | €51,825 | €7,451 | -€44,374 | -85.6% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €241,633 | €152,820 | -€88,813 | -36.8% |
| Recurring financial charges | 65 | €237,755 | €149,528 | -€88,227 | -37.1% |
| Non-recurring financial charges | 66B | €3,878 | €3,292 | -€586 | -15.1% |
| Profit (loss) for the period before taxes | 9903 | €430,157 | €805,334 | +€375,176 | +87.2% |
| Income taxes | 67/77 | €116,449 | €216,229 | +€99,780 | +85.7% |
| Profit (loss) for the period | 9904 | €313,708 | €589,104 | +€275,396 | +87.8% |
| Transfer from tax-exempt reserves | 789 | €20,757 | €11,760 | -€8,997 | -43.3% |
| Profit (loss) for the period to be appropriated | 9905 | €334,466 | €600,865 | +€266,399 | +79.6% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 31 October 2026 via checked.be.