Altofin: what changed
What changed
Altofin
NACE 64.210, Activities of holding companies
filed annual accounts (NBB)
Net result for the year
€165,041
2024 · €128,280+€36,761
Equity
€1.1m
2024 · €1.0m+€105,041
Cash
€26,463
2024 · €21,716+€4,747
Balance sheet total
€1.5m
2024 · €1.4m+€52,596
Largest movements
Assets
- Receivables within one year +€61,971
up €61,971 (+112%), from €55,158 to €117,129
of which Other amounts receivable: +€85,566
- Tangible fixed assets -€16,118
down €16,118 (-22.8%), from €70,813 to €54,695
Equity and liabilities
- Other debts -€136,825
down €136,825 (-95.8%), from €142,825 to €6,000
- Reserves +€105,041
up €105,041 (+11.6%), from €905,264 to €1.0m
of which Distributable reserves: +€105,041
- Debts after one year +€36,976
up €36,976 (+27.8%), from €133,023 to €169,999
- Current portion of long-term debt +€19,541
up €19,541 (+23.2%), from €84,294 to €103,835
- Tax, wage and social debts +€18,599
up €18,599 (+137%), from €13,574 to €32,173
Income statement
- Gross operating margin +€64,684
up €64,684 (+35.3%), from €183,475 to €248,159
- Taxes +€11,989
up €11,989 (+32.0%), from €37,438 to €49,427
- Financial charges +€10,974
up €10,974 (+187%), from €5,867 to €16,842
- Depreciation +€6,341
up €6,341 (+64.9%), from €9,776 to €16,118
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
€128,280
Gross operating margin
+€64,684
Depreciation
-€6,341
Other operating charges
-€607
Financial income
+€1,989
Financial charges
-€10,974
Taxes
-€11,989
Result 2025
€165,041
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
+€8,230
Investment
€0
Financing
-€3,483
Cash 2024
€21,716
From operations (derived)
+€8,230
Net result for the year
+€165,041
Depreciation
+€16,118
Receivables within one year
-€61,971
Deferred charges and accrued income
-€1,996
Trade debts
-€371
Tax, wage and social debts
+€18,599
Other debts
-€136,825
Accrued charges and deferred income
+€9,636
Financing
-€3,483
Debts after one year
+€36,976
Current portion of long-term debt
+€19,541
Contributions, distributions and other
-€60,000
Cash 2025
€26,463
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,407,694 | €1,460,290 | +€52,596 | +3.7% |
| Fixed assets | 21/28 | €1,050,813 | €1,034,695 | -€16,118 | -1.5% |
| Tangible fixed assets | 22/27 | €70,813 | €54,695 | -€16,118 | -22.8% |
| Furniture and vehicles | 24 | €70,813 | €54,695 | -€16,118 | -22.8% |
| Financial fixed assets | 28 | €980,000 | €980,000 | = | 0.0% |
| Current assets | 29/58 | €356,881 | €425,595 | +€68,714 | +19.3% |
| Amounts receivable within one year | 40/41 | €55,158 | €117,129 | +€61,971 | +112% |
| Trade receivables | 40 | €23,595 | €0 | -€23,595 | -100% |
| Other amounts receivable | 41 | €31,563 | €117,129 | +€85,566 | +271% |
| Current investments | 50/53 | €280,000 | €280,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €21,716 | €26,463 | +€4,747 | +21.9% |
| Deferred charges and accrued income | 490/1 | €7 | €2,003 | +€1,996 | +28,967% |
| Total equity and liabilities | 10/49 | €1,407,694 | €1,460,290 | +€52,596 | +3.7% |
| Equity | 10/15 | €1,030,264 | €1,135,305 | +€105,041 | +10.2% |
| Contributions | 10/11 | €125,000 | €125,000 | = | 0.0% |
| Capital | 10 | €125,000 | €125,000 | = | 0.0% |
| Issued capital | 100 | €125,000 | €125,000 | = | 0.0% |
| Reserves | 13 | €905,264 | €1,010,305 | +€105,041 | +11.6% |
| Non-distributable reserves | 130/1 | €292,500 | €292,500 | = | 0.0% |
| Legal reserve | 130 | €12,500 | €12,500 | = | 0.0% |
| Own shares acquired | 1312 | €280,000 | €280,000 | = | 0.0% |
| Distributable reserves | 133 | €612,764 | €717,805 | +€105,041 | +17.1% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €377,430 | €324,985 | -€52,444 | -13.9% |
| Amounts payable after more than one year | 17 | €133,023 | €169,999 | +€36,976 | +27.8% |
| Financial debts | 170/4 | €133,023 | €169,999 | +€36,976 | +27.8% |
| Amounts payable within one year | 42/48 | €243,629 | €144,572 | -€99,057 | -40.7% |
| Current portion of amounts payable after more than one year | 42 | €84,294 | €103,835 | +€19,541 | +23.2% |
| Trade debts | 44 | €2,935 | €2,564 | -€371 | -12.6% |
| Suppliers | 440/4 | €2,935 | €2,564 | -€371 | -12.6% |
| Taxes, remuneration and social security | 45 | €13,574 | €32,173 | +€18,599 | +137% |
| Taxes | 450/3 | €13,574 | €32,173 | +€18,599 | +137% |
| Other amounts payable | 47/48 | €142,825 | €6,000 | -€136,825 | -95.8% |
| Accrued charges and deferred income | 492/3 | €778 | €10,414 | +€9,636 | +1,238% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,776 | €16,118 | +€6,341 | +64.9% |
| Other operating charges | 640/8 | €2,120 | €2,728 | +€607 | +28.7% |
| Gross operating margin | 9900 | €183,475 | €248,159 | +€64,684 | +35.3% |
| Operating profit (loss) | 9901 | €171,579 | €229,314 | +€57,735 | +33.6% |
| Financial income | 75/76B | €7 | €1,996 | +€1,989 | +28,869% |
| Recurring financial income | 75 | €7 | €1,996 | +€1,989 | +28,869% |
| Financial charges | 65/66B | €5,867 | €16,842 | +€10,974 | +187% |
| Recurring financial charges | 65 | €5,867 | €16,842 | +€10,974 | +187% |
| Profit (loss) for the period before taxes | 9903 | €165,718 | €214,468 | +€48,750 | +29.4% |
| Income taxes | 67/77 | €37,438 | €49,427 | +€11,989 | +32.0% |
| Profit (loss) for the period | 9904 | €128,280 | €165,041 | +€36,761 | +28.7% |
| Profit (loss) for the period to be appropriated | 9905 | €128,280 | €165,041 | +€36,761 | +28.7% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.