ALTRO: 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.
ALTRO
Largest movements
- Receivables within one year -€37,224
no longer reported in 2025 (was €37,224)
of which Other amounts receivable: -€19,042
- Cash -€22,207
down €22,207 (-85.7%), from €25,923 to €3,716
mainly Net result for the year (-€32,980) and Debts after one year (-€20,501)
- Tangible fixed assets -€19,190
down €19,190 (-4.6%), from €416,312 to €397,123
of which Land and buildings: -€11,168
- Profit (loss) carried forward -€32,980
down €32,980, from €2,895 to -€30,086
- Debts after one year -€20,501
down €20,501 (-6.1%), from €338,427 to €317,925
of which Financial debts: -€19,977
- Tax, wage and social debts -€14,021
down €14,021 (-68.0%), from €20,622 to €6,600
- Trade debts -€11,896
down €11,896 (-91.8%), from €12,953 to €1,057
- Gross operating margin -€38,930
down €38,930, from €35,842 to -€3,088
- Financial charges -€3,994
down €3,994 (-42.9%), from €9,313 to €5,319
- Financial income -€1,504
down €1,504 (-91.4%), from €1,646 to €141
- Taxes -€1,500
down €1,500 (-91.9%), from €1,633 to €133
- Other operating charges -€765
down €765 (-33.0%), from €2,318 to €1,552
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 | €561,349 | €482,267 | -€79,082 | -14.1% |
| Fixed assets | 21/28 | €416,312 | €397,123 | -€19,190 | -4.6% |
| Tangible fixed assets | 22/27 | €416,312 | €397,123 | -€19,190 | -4.6% |
| Land and buildings | 22 | €390,550 | €379,382 | -€11,168 | -2.9% |
| Furniture and vehicles | 24 | €25,762 | €17,741 | -€8,022 | -31.1% |
| Current assets | 29/58 | €145,036 | €85,144 | -€59,892 | -41.3% |
| Stocks and contracts in progress | 3 | €32,831 | €31,632 | -€1,199 | -3.7% |
| Stocks | 30/36 | €32,831 | €31,632 | -€1,199 | -3.7% |
| Amounts receivable within one year | 40/41 | €37,224 | - | -€37,224 | |
| Trade receivables | 40 | €18,182 | - | -€18,182 | |
| Other amounts receivable | 41 | €19,042 | - | -€19,042 | |
| Cash at bank and in hand | 54/58 | €25,923 | €3,716 | -€22,207 | -85.7% |
| Deferred charges and accrued income | 490/1 | €49,057 | €49,795 | +€738 | +1.5% |
| Total equity and liabilities | 10/49 | €561,349 | €482,267 | -€79,082 | -14.1% |
| Equity | 10/15 | €158,085 | €125,104 | -€32,980 | -20.9% |
| Contributions | 10/11 | €6,300 | €6,300 | = | 0.0% |
| Reserves | 13 | €148,890 | €148,890 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,890 | - | -€1,890 | |
| Reserves not available under the articles | 1311 | €1,890 | - | -€1,890 | |
| Distributable reserves | 133 | €147,000 | €148,890 | +€1,890 | +1.3% |
| Profit (loss) carried forward | 14 | €2,895 | -€30,086 | -€32,980 | |
| Amounts payable | 17/49 | €403,264 | €357,163 | -€46,102 | -11.4% |
| Amounts payable after more than one year | 17 | €338,427 | €317,925 | -€20,501 | -6.1% |
| Financial debts | 170/4 | €296,331 | €276,353 | -€19,977 | -6.7% |
| Other amounts payable | 178/9 | €42,096 | €41,572 | -€524 | -1.2% |
| Amounts payable within one year | 42/48 | €64,837 | €39,237 | -€25,600 | -39.5% |
| Current portion of amounts payable after more than one year | 42 | €19,977 | €19,977 | = | 0.0% |
| Trade debts | 44 | €12,953 | €1,057 | -€11,896 | -91.8% |
| Suppliers | 440/4 | €12,953 | €1,057 | -€11,896 | -91.8% |
| Taxes, remuneration and social security | 45 | €20,622 | €6,600 | -€14,021 | -68.0% |
| Taxes | 450/3 | €20,622 | €6,600 | -€14,021 | -68.0% |
| Other amounts payable | 47/48 | €11,286 | €11,602 | +€317 | +2.8% |
| Remuneration, social security and pensions | 62 | €3,840 | €3,840 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,485 | €19,190 | -€295 | -1.5% |
| Other operating charges | 640/8 | €2,318 | €1,552 | -€765 | -33.0% |
| Gross operating margin | 9900 | €35,842 | -€3,088 | -€38,930 | |
| Operating profit (loss) | 9901 | €10,199 | -€27,670 | -€37,869 | |
| Financial income | 75/76B | €1,646 | €141 | -€1,504 | -91.4% |
| Recurring financial income | 75 | €1,646 | €141 | -€1,504 | -91.4% |
| Financial charges | 65/66B | €9,313 | €5,319 | -€3,994 | -42.9% |
| Recurring financial charges | 65 | €9,313 | €5,319 | -€3,994 | -42.9% |
| Profit (loss) for the period before taxes | 9903 | €2,532 | -€32,848 | -€35,379 | |
| Income taxes | 67/77 | €1,633 | €133 | -€1,500 | -91.9% |
| Profit (loss) for the period | 9904 | €899 | -€32,980 | -€33,879 | |
| Profit (loss) for the period to be appropriated | 9905 | €899 | -€32,980 | -€33,879 |
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.