ALTM: what changed
Two fiscal 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.
ALTM
Largest movements
- Tangible fixed assets -€34,905
down €34,905 (-3.4%), from €1.0m to €996,266
of which Plant, machinery and equipment: -€29,715
- Receivables within one year -€19,014
down €19,014 (-71.7%), from €26,529 to €7,515
of which Trade receivables: -€14,202
- Debts after one year -€69,403
down €69,403 (-10.8%), from €640,385 to €570,982
- Profit (loss) carried forward +€55,550
up €55,550 (+24.6%), from €225,631 to €281,181
- Other debts -€51,317
down €51,317 (-21.7%), from €236,467 to €185,149
- Trade debts -€16,704
down €16,704 (-34.2%), from €48,783 to €32,079
- Tax, wage and social debts +€16,414
up €16,414 (+41.4%), from €39,634 to €56,048
of which Taxes: +€8,246
- Gross operating margin +€43,179
up €43,179 (+20.6%), from €209,849 to €253,028
- Depreciation +€13,433
up €13,433 (+20.9%), from €64,177 to €77,610
- Taxes +€5,679
up €5,679 (+35.1%), from €16,166 to €21,845
- Other operating charges +€3,964
up €3,964 (+119.2%), from €3,326 to €7,291
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 | €1,292,996 | €1,241,382 | -€51,614 | -4.0% |
| Fixed assets | 21/28 | €1,256,494 | €1,221,589 | -€34,905 | -2.8% |
| Tangible fixed assets | 22/27 | €1,031,171 | €996,266 | -€34,905 | -3.4% |
| Land and buildings | 22 | €756,881 | €753,048 | -€3,833 | -0.5% |
| Plant, machinery and equipment | 23 | €264,806 | €235,091 | -€29,715 | -11.2% |
| Furniture and vehicles | 24 | €9,484 | €8,127 | -€1,358 | -14.3% |
| Financial fixed assets | 28 | €225,323 | €225,323 | = | 0.0% |
| Current assets | 29/58 | €36,502 | €19,794 | -€16,709 | -45.8% |
| Stocks and contracts in progress | 3 | €2,602 | €2,602 | = | 0.0% |
| Stocks | 30/36 | €2,602 | €2,602 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €26,529 | €7,515 | -€19,014 | -71.7% |
| Trade receivables | 40 | €19,159 | €4,957 | -€14,202 | -74.1% |
| Other amounts receivable | 41 | €7,370 | €2,558 | -€4,812 | -65.3% |
| Cash at bank and in hand | 54/58 | €7,371 | €9,676 | +€2,306 | +31.3% |
| Total equity and liabilities | 10/49 | €1,292,996 | €1,241,382 | -€51,614 | -4.0% |
| Equity | 10/15 | €246,091 | €301,641 | +€55,550 | +22.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €225,631 | €281,181 | +€55,550 | +24.6% |
| Amounts payable | 17/49 | €1,046,905 | €939,741 | -€107,164 | -10.2% |
| Amounts payable after more than one year | 17 | €640,385 | €570,982 | -€69,403 | -10.8% |
| Financial debts | 170/4 | €640,385 | €570,982 | -€69,403 | -10.8% |
| Amounts payable within one year | 42/48 | €406,521 | €368,760 | -€37,761 | -9.3% |
| Current portion of amounts payable after more than one year | 42 | €81,638 | €95,484 | +€13,846 | +17.0% |
| Trade debts | 44 | €48,783 | €32,079 | -€16,704 | -34.2% |
| Suppliers | 440/4 | €48,783 | €32,079 | -€16,704 | -34.2% |
| Taxes, remuneration and social security | 45 | €39,634 | €56,048 | +€16,414 | +41.4% |
| Taxes | 450/3 | €29,765 | €38,010 | +€8,246 | +27.7% |
| Remuneration and social security | 454/9 | €9,869 | €18,037 | +€8,168 | +82.8% |
| Other amounts payable | 47/48 | €236,467 | €185,149 | -€51,317 | -21.7% |
| Remuneration, social security and pensions | 62 | €71,941 | €71,156 | -€785 | -1.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €64,177 | €77,610 | +€13,433 | +20.9% |
| Other operating charges | 640/8 | €3,326 | €7,291 | +€3,964 | +119.2% |
| Gross operating margin | 9900 | €209,849 | €253,028 | +€43,179 | +20.6% |
| Operating profit (loss) | 9901 | €70,405 | €96,971 | +€26,566 | +37.7% |
| Financial income | 75/76B | €142 | - | -€142 | |
| Recurring financial income | 75 | €142 | - | -€142 | |
| Financial charges | 65/66B | €19,520 | €19,577 | +€57 | +0.3% |
| Recurring financial charges | 65 | €19,520 | €19,577 | +€57 | +0.3% |
| Profit (loss) for the period before taxes | 9903 | €51,027 | €77,394 | +€26,367 | +51.7% |
| Income taxes | 67/77 | €16,166 | €21,845 | +€5,679 | +35.1% |
| Profit (loss) for the period | 9904 | €34,861 | €55,550 | +€20,688 | +59.3% |
| Profit (loss) for the period to be appropriated | 9905 | €34,861 | €55,550 | +€20,688 | +59.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.