Alto: 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.
Alto
Largest movements
- Receivables within one year -€76,345
down €76,345 (-61.5%), from €124,155 to €47,809
of which Trade receivables: -€80,345
- Tangible fixed assets -€73,459
down €73,459 (-28.9%), from €254,475 to €181,016
of which Plant, machinery and equipment: -€65,159
- Trade debts -€57,111
down €57,111 (-73.7%), from €77,499 to €20,387
- Debts after one year -€47,807
down €47,807 (-29.0%), from €164,814 to €117,007
- Profit (loss) carried forward -€31,247
new in 2025: -€31,247
- Tax, wage and social debts -€11,006
down €11,006 (-64.2%), from €17,149 to €6,143
- Gross operating margin -€62,927
down €62,927 (-58.4%), from €107,773 to €44,846
- Depreciation +€11,534
up €11,534 (+18.6%), from €61,925 to €73,459
- Taxes -€11,448
no longer reported in 2025 (was €11,448)
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 | €390,801 | €242,740 | -€148,061 | -37.9% |
| Fixed assets | 21/28 | €254,475 | €181,016 | -€73,459 | -28.9% |
| Tangible fixed assets | 22/27 | €254,475 | €181,016 | -€73,459 | -28.9% |
| Plant, machinery and equipment | 23 | €217,714 | €152,556 | -€65,159 | -29.9% |
| Furniture and vehicles | 24 | €36,760 | €28,460 | -€8,300 | -22.6% |
| Current assets | 29/58 | €136,327 | €61,724 | -€74,603 | -54.7% |
| Amounts receivable within one year | 40/41 | €124,155 | €47,809 | -€76,345 | -61.5% |
| Trade receivables | 40 | €115,086 | €34,741 | -€80,345 | -69.8% |
| Other amounts receivable | 41 | €9,069 | €13,069 | +€4,000 | +44.1% |
| Cash at bank and in hand | 54/58 | €11,638 | €13,483 | +€1,845 | +15.9% |
| Deferred charges and accrued income | 490/1 | €534 | €431 | -€102 | -19.2% |
| Total equity and liabilities | 10/49 | €390,801 | €242,740 | -€148,061 | -37.9% |
| Equity | 10/15 | €90,600 | €59,352 | -€31,247 | -34.5% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €88,600 | €88,600 | = | 0.0% |
| Distributable reserves | 133 | €88,600 | €88,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€31,247 | -€31,247 | |
| Amounts payable | 17/49 | €300,202 | €183,388 | -€116,814 | -38.9% |
| Amounts payable after more than one year | 17 | €164,814 | €117,007 | -€47,807 | -29.0% |
| Financial debts | 170/4 | €164,814 | €117,007 | -€47,807 | -29.0% |
| Amounts payable within one year | 42/48 | €131,635 | €62,992 | -€68,644 | -52.1% |
| Current portion of amounts payable after more than one year | 42 | €35,589 | €35,031 | -€558 | -1.6% |
| Financial debts | 43 | €1,178 | - | -€1,178 | |
| Credit institutions | 430/8 | €1,178 | - | -€1,178 | |
| Trade debts | 44 | €77,499 | €20,387 | -€57,111 | -73.7% |
| Suppliers | 440/4 | €77,499 | €20,387 | -€57,111 | -73.7% |
| Taxes, remuneration and social security | 45 | €17,149 | €6,143 | -€11,006 | -64.2% |
| Taxes | 450/3 | €17,149 | €6,143 | -€11,006 | -64.2% |
| Other amounts payable | 47/48 | €220 | €1,430 | +€1,210 | +550.0% |
| Accrued charges and deferred income | 492/3 | €3,752 | €3,389 | -€364 | -9.7% |
| Non-recurring operating income | 76A | €63,479 | €3,000 | -€60,479 | -95.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €61,925 | €73,459 | +€11,534 | +18.6% |
| Other operating charges | 640/8 | - | €106 | +€106 | |
| Gross operating margin | 9900 | €107,773 | €44,846 | -€62,927 | -58.4% |
| Operating profit (loss) | 9901 | €45,848 | -€28,719 | -€74,567 | |
| Financial income | 75/76B | €109 | €88 | -€21 | -19.3% |
| Recurring financial income | 75 | €109 | €88 | -€21 | -19.3% |
| Financial charges | 65/66B | €2,100 | €2,616 | +€516 | +24.6% |
| Recurring financial charges | 65 | €2,100 | €2,616 | +€516 | +24.6% |
| Profit (loss) for the period before taxes | 9903 | €43,857 | -€31,247 | -€75,104 | |
| Income taxes | 67/77 | €11,448 | - | -€11,448 | |
| Profit (loss) for the period | 9904 | €32,409 | -€31,247 | -€63,656 | |
| Profit (loss) for the period to be appropriated | 9905 | €32,409 | -€31,247 | -€63,656 |
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 12 October 2026 via checked.be.