ALTRAVE: 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.
ALTRAVE
Largest movements
- Tangible fixed assets -€132,789
down €132,789 (-78.4%), from €169,315 to €36,525
of which Plant, machinery and equipment: -€158,687
- Cash -€109,711
down €109,711 (-16.3%), from €672,289 to €562,578
mainly Other debts (-€102,805) and Debts after one year (-€80,000)
- Receivables within one year -€68,696
down €68,696 (-34.1%), from €201,385 to €132,689
of which Trade receivables: -€62,757
- Other debts -€102,805
down €102,805 (-83.9%), from €122,553 to €19,748
- Debts after one year -€80,000
down €80,000 (-100%), from €80,000 to €0
- Provisions -€72,493
down €72,493 (-100%), from €72,493 to €0
- Current portion of long-term debt -€40,000
down €40,000 (-33.3%), from €120,000 to €80,000
- Gross operating margin -€307,781
down €307,781 (-65.2%), from €471,736 to €163,955
- Taxes +€68,964
up €68,964 (+5,036%), from €1,369 to €70,333
- Financial charges -€7,192
down €7,192 (-55.7%), from €12,908 to €5,716
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.
Derived cash bridge
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 | €1,078,214 | €770,616 | -€307,598 | -28.5% |
| Fixed assets | 21/28 | €170,540 | €37,750 | -€132,789 | -77.9% |
| Tangible fixed assets | 22/27 | €169,315 | €36,525 | -€132,789 | -78.4% |
| Plant, machinery and equipment | 23 | €161,424 | €2,737 | -€158,687 | -98.3% |
| Furniture and vehicles | 24 | €7,891 | €1,847 | -€6,044 | -76.6% |
| Other tangible fixed assets | 26 | - | €31,942 | +€31,942 | |
| Financial fixed assets | 28 | €1,225 | €1,225 | = | 0.0% |
| Current assets | 29/58 | €907,675 | €732,866 | -€174,809 | -19.3% |
| Amounts receivable within one year | 40/41 | €201,385 | €132,689 | -€68,696 | -34.1% |
| Trade receivables | 40 | €158,765 | €96,008 | -€62,757 | -39.5% |
| Other amounts receivable | 41 | €42,620 | €36,681 | -€5,939 | -13.9% |
| Cash at bank and in hand | 54/58 | €672,289 | €562,578 | -€109,711 | -16.3% |
| Deferred charges and accrued income | 490/1 | €34,001 | €37,599 | +€3,598 | +10.6% |
| Total equity and liabilities | 10/49 | €1,078,214 | €770,616 | -€307,598 | -28.5% |
| Equity | 10/15 | €666,537 | €656,137 | -€10,400 | -1.6% |
| Contributions | 10/11 | €362,000 | €362,000 | = | 0.0% |
| Capital | 10 | €362,000 | €362,000 | = | 0.0% |
| Issued capital | 100 | €362,000 | €362,000 | = | 0.0% |
| Reserves | 13 | €304,537 | €294,137 | -€10,400 | -3.4% |
| Non-distributable reserves | 130/1 | €5,000 | €15,400 | +€10,400 | +208% |
| Legal reserve | 130 | €5,000 | €15,400 | +€10,400 | +208% |
| Tax-exempt reserves | 132 | €217,478 | €0 | -€217,478 | -100% |
| Distributable reserves | 133 | €82,059 | €278,737 | +€196,678 | +240% |
| Provisions and deferred taxes | 16 | €72,493 | €0 | -€72,493 | -100% |
| Deferred taxes | 168 | €72,493 | €0 | -€72,493 | -100% |
| Amounts payable | 17/49 | €339,184 | €114,479 | -€224,705 | -66.2% |
| Amounts payable after more than one year | 17 | €80,000 | €0 | -€80,000 | -100% |
| Financial debts | 170/4 | €80,000 | €0 | -€80,000 | -100% |
| Amounts payable within one year | 42/48 | €251,917 | €112,712 | -€139,205 | -55.3% |
| Current portion of amounts payable after more than one year | 42 | €120,000 | €80,000 | -€40,000 | -33.3% |
| Trade debts | 44 | €7,993 | €12,489 | +€4,495 | +56.2% |
| Suppliers | 440/4 | €7,993 | €12,489 | +€4,495 | +56.2% |
| Taxes, remuneration and social security | 45 | €1,371 | €476 | -€896 | -65.3% |
| Taxes | 450/3 | €1,371 | €476 | -€896 | -65.3% |
| Other amounts payable | 47/48 | €122,553 | €19,748 | -€102,805 | -83.9% |
| Accrued charges and deferred income | 492/3 | €7,267 | €1,767 | -€5,501 | -75.7% |
| Non-recurring operating income | 76A | €414,314 | €0 | -€414,314 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €167,152 | €169,041 | +€1,890 | +1.1% |
| Other operating charges | 640/8 | €1,509 | €1,759 | +€249 | +16.5% |
| Gross operating margin | 9900 | €471,736 | €163,955 | -€307,781 | -65.2% |
| Operating profit (loss) | 9901 | €303,075 | -€6,845 | -€309,920 | |
| Financial income | 75/76B | €0 | €1 | +€1 | +6,900% |
| Recurring financial income | 75 | €0 | €1 | +€1 | +6,900% |
| Financial charges | 65/66B | €12,908 | €5,716 | -€7,192 | -55.7% |
| Recurring financial charges | 65 | €12,908 | €5,716 | -€7,192 | -55.7% |
| Profit (loss) for the period before taxes | 9903 | €290,167 | -€12,560 | -€302,727 | |
| Transfer from deferred taxes | 780 | - | €72,493 | +€72,493 | |
| Transfer to deferred taxes | 680 | €72,493 | €0 | -€72,493 | -100% |
| Income taxes | 67/77 | €1,369 | €70,333 | +€68,964 | +5,036% |
| Profit (loss) for the period | 9904 | €216,305 | -€10,400 | -€226,705 | |
| Transfer from tax-exempt reserves | 789 | - | €217,478 | +€217,478 | |
| Transfer to tax-exempt reserves | 689 | €217,478 | €0 | -€217,478 | -100% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,173 | €207,078 | +€208,252 |
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 15 October 2026 via checked.be.