ALTRABO: 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.
ALTRABO
Largest movements
- Tangible fixed assets +€556,205
up €556,205 (+353.9%), from €157,166 to €713,371
of which Land and buildings: +€562,369
- Cash -€535,647
down €535,647 (-55.6%), from €964,228 to €428,581
mainly Investment in fixed assets (net) (-€616,000) and Accrued charges and deferred income (-€2,190)
- Reserves +€19,592
up €19,592 (+1.9%), from €1.0m to €1.1m
of which Distributable reserves: +€19,592
- Depreciation +€26,053
up €26,053 (+77.2%), from €33,742 to €59,795
- Taxes -€7,237
down €7,237 (-59.5%), from €12,172 to €4,935
- Financial income +€6,996
up €6,996 (+67.0%), from €10,438 to €17,434
- Financial charges -€2,257
down €2,257 (-11.9%), from €18,913 to €16,656
- Gross operating margin -€1,157
down €1,157 (-1.3%), from €87,112 to €85,955
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 | €1,380,090 | €1,395,923 | +€15,833 | +1.1% |
| Fixed assets | 21/28 | €391,426 | €947,630 | +€556,205 | +142.1% |
| Tangible fixed assets | 22/27 | €157,166 | €713,371 | +€556,205 | +353.9% |
| Land and buildings | 22 | €142,406 | €704,775 | +€562,369 | +394.9% |
| Furniture and vehicles | 24 | €14,760 | €8,596 | -€6,164 | -41.8% |
| Financial fixed assets | 28 | €234,259 | €234,259 | = | 0.0% |
| Current assets | 29/58 | €988,665 | €448,293 | -€540,372 | -54.7% |
| Amounts receivable within one year | 40/41 | €20,704 | €15,510 | -€5,194 | -25.1% |
| Trade receivables | 40 | €17,811 | €0 | -€17,811 | -100.0% |
| Other amounts receivable | 41 | €2,893 | €15,510 | +€12,617 | +436.1% |
| Cash at bank and in hand | 54/58 | €964,228 | €428,581 | -€535,647 | -55.6% |
| Deferred charges and accrued income | 490/1 | €3,733 | €4,202 | +€469 | +12.6% |
| Total equity and liabilities | 10/49 | €1,380,090 | €1,395,923 | +€15,833 | +1.1% |
| Equity | 10/15 | €1,113,454 | €1,133,046 | +€19,592 | +1.8% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €1,034,676 | €1,054,268 | +€19,592 | +1.9% |
| Non-distributable reserves | 130/1 | €63,800 | €63,800 | = | 0.0% |
| Legal reserve | 130 | €63,800 | €63,800 | = | 0.0% |
| Distributable reserves | 133 | €970,876 | €990,468 | +€19,592 | +2.0% |
| Profit (loss) carried forward | 14 | €16,778 | €16,778 | = | 0.0% |
| Provisions and deferred taxes | 16 | €6,200 | €6,200 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €6,200 | €6,200 | = | 0.0% |
| Other liabilities and charges | 164/5 | €6,200 | €6,200 | = | 0.0% |
| Amounts payable | 17/49 | €260,436 | €256,677 | -€3,760 | -1.4% |
| Amounts payable after more than one year | 17 | €234,259 | €234,259 | = | 0.0% |
| Other amounts payable | 178/9 | €234,259 | €234,259 | = | 0.0% |
| Amounts payable within one year | 42/48 | €11,577 | €10,008 | -€1,570 | -13.6% |
| Trade debts | 44 | €499 | €128 | -€371 | -74.3% |
| Suppliers | 440/4 | €499 | €128 | -€371 | -74.3% |
| Taxes, remuneration and social security | 45 | €11,078 | €9,879 | -€1,199 | -10.8% |
| Taxes | 450/3 | €11,078 | €9,879 | -€1,199 | -10.8% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €14,600 | €12,410 | -€2,190 | -15.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,742 | €59,795 | +€26,053 | +77.2% |
| Other operating charges | 640/8 | €2,713 | €2,411 | -€302 | -11.1% |
| Gross operating margin | 9900 | €87,112 | €85,955 | -€1,157 | -1.3% |
| Operating profit (loss) | 9901 | €50,658 | €23,749 | -€26,909 | -53.1% |
| Financial income | 75/76B | €10,438 | €17,434 | +€6,996 | +67.0% |
| Recurring financial income | 75 | €10,438 | €17,434 | +€6,996 | +67.0% |
| Financial charges | 65/66B | €18,913 | €16,656 | -€2,257 | -11.9% |
| Recurring financial charges | 65 | €18,913 | €16,656 | -€2,257 | -11.9% |
| Profit (loss) for the period before taxes | 9903 | €42,183 | €24,527 | -€17,656 | -41.9% |
| Income taxes | 67/77 | €12,172 | €4,935 | -€7,237 | -59.5% |
| Profit (loss) for the period | 9904 | €30,010 | €19,592 | -€10,418 | -34.7% |
| Profit (loss) for the period to be appropriated | 9905 | €30,010 | €19,592 | -€10,418 | -34.7% |
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.