ALTIUS IMMO: what changed
What changed
ALTIUS IMMO
NACE 68.121, Development of residential building projects
filed annual accounts (NBB)
Net result for the year
€140,335
2024 · €150,716-€10,381
Equity
€370,646
2024 · €352,262+€18,384
Cash
€349,918
2024 · €233,375+€116,543
Balance sheet total
€789,221
2024 · €738,788+€50,433
Largest movements
Assets
- Cash +€116,543
up €116,543 (+49.9%), from €233,375 to €349,918
mainly Net result for the year (+€140,335) and Tax, wage and social debts (+€68,409)
- Stocks and contracts -€65,699
down €65,699 (-54.2%), from €121,136 to €55,438
- Receivables after one year +€18,200
new in 2025: €18,200
- Receivables within one year -€14,664
down €14,664 (-97.6%), from €15,022 to €358
Equity and liabilities
- Debts after one year -€76,070
down €76,070 (-28.2%), from €269,956 to €193,885
of which Financial debts: -€75,920
- Tax, wage and social debts +€68,409
up €68,409 (+120%), from €57,099 to €125,508
of which Taxes: +€68,409
- Other debts +€44,368
up €44,368 (+139%), from €31,863 to €76,231
- Reserves +€18,384
up €18,384 (+5.6%), from €327,262 to €345,646
Income statement
- Gross operating margin -€55,444
down €55,444 (-20.4%), from €271,452 to €216,009
- Other operating charges -€34,932
no longer reported in 2025 (was €34,932)
- Financial charges -€18,785
down €18,785 (-75.8%), from €24,787 to €6,002
- Taxes +€5,273
up €5,273 (+10.9%), from €48,450 to €53,723
- Depreciation +€3,382
up €3,382 (+26.9%), from €12,567 to €15,949
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€150,716
Gross operating margin
-€55,444
Depreciation
-€3,382
Other operating charges
+€34,932
Financial income
-€0
Financial charges
+€18,785
Taxes
-€5,273
Result 2025
€140,335
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€325,484
Investment
-€11,022
Financing
-€197,919
Cash 2024
€233,375
From operations (derived)
+€325,484
Net result for the year
+€140,335
Depreciation
+€15,949
Receivables after one year
-€18,200
Stocks and contracts
+€65,699
Receivables within one year
+€14,664
Deferred charges and accrued income
-€979
Trade debts
-€4,691
Tax, wage and social debts
+€68,409
Other debts
+€44,368
Accrued charges and deferred income
-€70
Investment (derived)
-€11,022
Investment in fixed assets (net)
-€11,022
Financing
-€197,919
Debts after one year
-€76,070
Current portion of long-term debt
+€490
Short-term financial debts
-€388
Contributions, distributions and other
-€121,951
Cash 2025
€349,918
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €738,788 | €789,221 | +€50,433 | +6.8% |
| Fixed assets | 21/28 | €369,186 | €364,259 | -€4,927 | -1.3% |
| Tangible fixed assets | 22/27 | €368,090 | €363,163 | -€4,927 | -1.3% |
| Land and buildings | 22 | €346,548 | €335,615 | -€10,933 | -3.2% |
| Plant, machinery and equipment | 23 | €20,669 | €18,094 | -€2,575 | -12.5% |
| Furniture and vehicles | 24 | €873 | €9,454 | +€8,581 | +983% |
| Financial fixed assets | 28 | €1,097 | €1,097 | = | 0.0% |
| Current assets | 29/58 | €369,602 | €424,961 | +€55,359 | +15.0% |
| Amounts receivable after more than one year | 29 | - | €18,200 | +€18,200 | |
| Trade receivables | 290 | - | €18,200 | +€18,200 | |
| Stocks and contracts in progress | 3 | €121,136 | €55,438 | -€65,699 | -54.2% |
| Stocks | 30/36 | €121,136 | €55,438 | -€65,699 | -54.2% |
| Amounts receivable within one year | 40/41 | €15,022 | €358 | -€14,664 | -97.6% |
| Other amounts receivable | 41 | €15,022 | €358 | -€14,664 | -97.6% |
| Cash at bank and in hand | 54/58 | €233,375 | €349,918 | +€116,543 | +49.9% |
| Deferred charges and accrued income | 490/1 | €68 | €1,047 | +€979 | +1,437% |
| Total equity and liabilities | 10/49 | €738,788 | €789,221 | +€50,433 | +6.8% |
| Equity | 10/15 | €352,262 | €370,646 | +€18,384 | +5.2% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €327,262 | €345,646 | +€18,384 | +5.6% |
| Distributable reserves | 133 | €327,262 | €345,646 | +€18,384 | +5.6% |
| Amounts payable | 17/49 | €386,526 | €418,575 | +€32,049 | +8.3% |
| Amounts payable after more than one year | 17 | €269,956 | €193,885 | -€76,070 | -28.2% |
| Financial debts | 170/4 | €269,806 | €193,885 | -€75,920 | -28.1% |
| Other amounts payable | 178/9 | €150 | - | -€150 | |
| Amounts payable within one year | 42/48 | €116,431 | €224,620 | +€108,189 | +92.9% |
| Current portion of amounts payable after more than one year | 42 | €22,180 | €22,670 | +€490 | +2.2% |
| Financial debts | 43 | €598 | €210 | -€388 | -64.9% |
| Credit institutions | 430/8 | €598 | €210 | -€388 | -64.9% |
| Trade debts | 44 | €4,691 | - | -€4,691 | |
| Suppliers | 440/4 | €4,691 | - | -€4,691 | |
| Taxes, remuneration and social security | 45 | €57,099 | €125,508 | +€68,409 | +120% |
| Taxes | 450/3 | €55,849 | €124,258 | +€68,409 | +122% |
| Remuneration and social security | 454/9 | €1,250 | €1,250 | = | 0.0% |
| Other amounts payable | 47/48 | €31,863 | €76,231 | +€44,368 | +139% |
| Accrued charges and deferred income | 492/3 | €140 | €70 | -€70 | -50.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,567 | €15,949 | +€3,382 | +26.9% |
| Other operating charges | 640/8 | €34,932 | - | -€34,932 | |
| Gross operating margin | 9900 | €271,452 | €216,009 | -€55,444 | -20.4% |
| Operating profit (loss) | 9901 | €223,954 | €200,060 | -€23,894 | -10.7% |
| Financial income | 75/76B | €0 | €0 | -€0 | -11.8% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -11.8% |
| Non-recurring financial income | 76B | €0 | - | -€0 | |
| Financial charges | 65/66B | €24,787 | €6,002 | -€18,785 | -75.8% |
| Recurring financial charges | 65 | €24,787 | €6,002 | -€18,785 | -75.8% |
| Profit (loss) for the period before taxes | 9903 | €199,166 | €194,058 | -€5,109 | -2.6% |
| Income taxes | 67/77 | €48,450 | €53,723 | +€5,273 | +10.9% |
| Profit (loss) for the period | 9904 | €150,716 | €140,335 | -€10,381 | -6.9% |
| Profit (loss) for the period to be appropriated | 9905 | €150,716 | €140,335 | -€10,381 | -6.9% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.