ALTRO INVEST: 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 INVEST
Largest movements
- Stocks and contracts +€491,092
up €491,092 (+42.6%), from €1.2m to €1.6m
- Receivables within one year +€396,813
up €396,813 (+1,177%), from €33,700 to €430,513
of which Trade receivables: +€359,504
- Cash -€150,248
down €150,248 (-14.2%), from €1.1m to €909,866
mainly Stocks and contracts (-€491,092) and Receivables within one year (-€396,813)
- Advances received +€435,000
new in 2025: €435,000
- Trade debts +€219,584
up €219,584 (+88.6%), from €247,938 to €467,522
- Reserves +€219,070
up €219,070 (+55.4%), from €395,329 to €614,399
- Tax, wage and social debts -€118,586
down €118,586 (-45.1%), from €263,137 to €144,551
- Gross operating margin +€84,438
up €84,438 (+38.0%), from €222,390 to €306,828
- Taxes +€19,227
up €19,227 (+30.7%), from €62,576 to €81,803
- Other operating charges -€4,597
down €4,597 (-75.0%), from €6,126 to €1,529
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 | €2,263,744 | €2,993,916 | +€730,172 | +32.3% |
| Fixed assets | 21/28 | €16,866 | €9,382 | -€7,484 | -44.4% |
| Tangible fixed assets | 22/27 | €16,866 | €9,382 | -€7,484 | -44.4% |
| Plant, machinery and equipment | 23 | €3,600 | €1,800 | -€1,800 | -50.0% |
| Furniture and vehicles | 24 | €13,266 | €7,582 | -€5,684 | -42.8% |
| Current assets | 29/58 | €2,246,877 | €2,984,534 | +€737,657 | +32.8% |
| Stocks and contracts in progress | 3 | €1,153,063 | €1,644,155 | +€491,092 | +42.6% |
| Stocks | 30/36 | €1,153,063 | €1,644,155 | +€491,092 | +42.6% |
| Amounts receivable within one year | 40/41 | €33,700 | €430,513 | +€396,813 | +1,177% |
| Trade receivables | 40 | €33,700 | €393,204 | +€359,504 | +1,067% |
| Other amounts receivable | 41 | - | €37,309 | +€37,309 | |
| Cash at bank and in hand | 54/58 | €1,060,114 | €909,866 | -€150,248 | -14.2% |
| Total equity and liabilities | 10/49 | €2,263,744 | €2,993,916 | +€730,172 | +32.3% |
| Equity | 10/15 | €495,329 | €714,399 | +€219,070 | +44.2% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €395,329 | €614,399 | +€219,070 | +55.4% |
| Distributable reserves | 133 | €395,329 | €614,399 | +€219,070 | +55.4% |
| Amounts payable | 17/49 | €1,768,414 | €2,279,517 | +€511,102 | +28.9% |
| Amounts payable within one year | 42/48 | €1,768,414 | €2,279,517 | +€511,102 | +28.9% |
| Trade debts | 44 | €247,938 | €467,522 | +€219,584 | +88.6% |
| Suppliers | 440/4 | €247,938 | €467,522 | +€219,584 | +88.6% |
| Advances received on contracts in progress | 46 | - | €435,000 | +€435,000 | |
| Taxes, remuneration and social security | 45 | €263,137 | €144,551 | -€118,586 | -45.1% |
| Taxes | 450/3 | €263,137 | €144,551 | -€118,586 | -45.1% |
| Other amounts payable | 47/48 | €1,257,340 | €1,232,444 | -€24,896 | -2.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,484 | €7,484 | = | 0.0% |
| Other operating charges | 640/8 | €6,126 | €1,529 | -€4,597 | -75.0% |
| Gross operating margin | 9900 | €222,390 | €306,828 | +€84,438 | +38.0% |
| Operating profit (loss) | 9901 | €208,780 | €297,814 | +€89,035 | +42.6% |
| Financial income | 75/76B | €2,658 | €3,662 | +€1,003 | +37.7% |
| Recurring financial income | 75 | €2,658 | €3,662 | +€1,003 | +37.7% |
| Financial charges | 65/66B | €658 | €603 | -€55 | -8.3% |
| Recurring financial charges | 65 | €658 | €603 | -€55 | -8.3% |
| Profit (loss) for the period before taxes | 9903 | €210,780 | €300,873 | +€90,093 | +42.7% |
| Income taxes | 67/77 | €62,576 | €81,803 | +€19,227 | +30.7% |
| Profit (loss) for the period | 9904 | €148,204 | €219,070 | +€70,866 | +47.8% |
| Profit (loss) for the period to be appropriated | 9905 | €148,204 | €219,070 | +€70,866 | +47.8% |
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 18 October 2026 via checked.be.