Altsien: 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.
Altsien
Largest movements
- Receivables within one year -€3.2m
down €3.2m (-97.0%), from €3.3m to €97,077
of which Other amounts receivable: -€3.2m
- Deferred charges and accrued income +€97,275
up €97,275 (+486617.0%), from €20 to €97,295
- Tangible fixed assets +€94,080
up €94,080 (+1335.1%), from €7,047 to €101,127
of which Other tangible fixed assets: +€95,792
- Cash -€49,987
down €49,987 (-2.9%), from €1.7m to €1.7m
mainly Net result for the year (-€3.0m) and Investment in fixed assets (net) (-€102,287)
- Reserves -€3.0m
down €3.0m (-62.8%), from €4.8m to €1.8m
- Taxes +€3.2m
up €3.2m (+30853.3%), from €10,486 to €3.2m
- Gross operating margin +€139,824
up €139,824 (+33.0%), from €423,862 to €563,686
- Staff costs +€89,763
up €89,763 (+34.6%), from €259,517 to €349,279
- Financial income -€12,809
down €12,809 (-53.3%), from €24,038 to €11,229
- Depreciation -€9,646
down €9,646 (-49.2%), from €19,613 to €9,967
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 | €4,990,904 | €1,954,600 | -€3.0m | -60.8% |
| Fixed assets | 21/28 | €8,807 | €101,127 | +€92,320 | +1048.3% |
| Intangible fixed assets | 21 | €1,760 | €0 | -€1,760 | -100.0% |
| Tangible fixed assets | 22/27 | €7,047 | €101,127 | +€94,080 | +1335.1% |
| Plant, machinery and equipment | 23 | €3,323 | €1,662 | -€1,662 | -50.0% |
| Furniture and vehicles | 24 | €3,724 | €3,674 | -€50 | -1.3% |
| Other tangible fixed assets | 26 | €0 | €95,792 | +€95,792 | |
| Current assets | 29/58 | €4,982,097 | €1,853,473 | -€3.1m | -62.8% |
| Amounts receivable within one year | 40/41 | €3,272,989 | €97,077 | -€3.2m | -97.0% |
| Trade receivables | 40 | €9,190 | €29,913 | +€20,722 | +225.5% |
| Other amounts receivable | 41 | €3,263,799 | €67,164 | -€3.2m | -97.9% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €1,709,088 | €1,659,101 | -€49,987 | -2.9% |
| Deferred charges and accrued income | 490/1 | €20 | €97,295 | +€97,275 | +486617.0% |
| Total equity and liabilities | 10/49 | €4,990,904 | €1,954,600 | -€3.0m | -60.8% |
| Equity | 10/15 | €4,954,115 | €1,923,288 | -€3.0m | -61.2% |
| Contributions | 10/11 | €131,778 | €131,778 | = | 0.0% |
| Capital | 10 | €131,778 | €131,778 | = | 0.0% |
| Reserves | 13 | €4,822,337 | €1,791,511 | -€3.0m | -62.8% |
| Amounts payable | 17/49 | €36,789 | €31,312 | -€5,477 | -14.9% |
| Amounts payable within one year | 42/48 | €36,789 | €31,312 | -€5,477 | -14.9% |
| Trade debts | 44 | €22,451 | €30,769 | +€8,318 | +37.1% |
| Suppliers | 440/4 | €22,451 | €30,769 | +€8,318 | +37.1% |
| Advances received on contracts in progress | 46 | €3,181 | €0 | -€3,181 | -100.0% |
| Taxes, remuneration and social security | 45 | €11,158 | €543 | -€10,615 | -95.1% |
| Taxes | 450/3 | €3,385 | €323 | -€3,063 | -90.5% |
| Remuneration and social security | 454/9 | €7,772 | €220 | -€7,552 | -97.2% |
| Remuneration, social security and pensions | 62 | €259,517 | €349,279 | +€89,763 | +34.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,613 | €9,967 | -€9,646 | -49.2% |
| Other operating charges | 640/8 | €172 | €519 | +€348 | +202.5% |
| Gross operating margin | 9900 | €423,862 | €563,686 | +€139,824 | +33.0% |
| Operating profit (loss) | 9901 | €144,560 | €203,920 | +€59,360 | +41.1% |
| Financial income | 75/76B | €24,038 | €11,229 | -€12,809 | -53.3% |
| Recurring financial income | 75 | €24,038 | €11,229 | -€12,809 | -53.3% |
| Financial charges | 65/66B | €408 | €371 | -€37 | -9.1% |
| Recurring financial charges | 65 | €408 | €371 | -€37 | -9.1% |
| Profit (loss) for the period before taxes | 9903 | €168,190 | €214,779 | +€46,588 | +27.7% |
| Income taxes | 67/77 | €10,486 | €3,245,606 | +€3.2m | +30853.3% |
| Profit (loss) for the period | 9904 | €157,705 | -€3,030,827 | -€3.2m | |
| Profit (loss) for the period to be appropriated | 9905 | €157,705 | -€3,030,827 | -€3.2m |
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 5 October 2026 via checked.be.