ALTUM: 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.
ALTUM
Largest movements
No asset line moved by more than 1% of the balance sheet total.
No liability line moved by more than 1% of the balance sheet total.
- Gross operating margin -€16,804
down €16,804 (-183.4%), from -€9,162 to -€25,966
- Financial income +€4,381
up €4,381 (+11.9%), from €36,872 to €41,253
of which Non-recurring financial income: +€4,385
- Depreciation -€3,879
down €3,879 (-34.0%), from €11,401 to €7,522
- Financial charges -€2,496
down €2,496 (-78.0%), from €3,199 to €704
of which Non-recurring financial charges: -€2,516
- Other operating charges -€888
down €888 (-22.0%), from €4,027 to €3,139
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 | €995,715 | €1,001,529 | +€5,814 | +0.6% |
| Fixed assets | 21/28 | €156,580 | €151,501 | -€5,079 | -3.2% |
| Tangible fixed assets | 22/27 | €106,732 | €101,653 | -€5,079 | -4.8% |
| Land and buildings | 22 | €67,655 | €68,307 | +€652 | +1.0% |
| Plant, machinery and equipment | 23 | €37,782 | €32,191 | -€5,591 | -14.8% |
| Furniture and vehicles | 24 | €1,295 | €1,155 | -€140 | -10.8% |
| Financial fixed assets | 28 | €49,848 | €49,848 | = | 0.0% |
| Current assets | 29/58 | €839,135 | €850,028 | +€10,893 | +1.3% |
| Amounts receivable within one year | 40/41 | €273,964 | €279,928 | +€5,964 | +2.2% |
| Other amounts receivable | 41 | €273,964 | €279,928 | +€5,964 | +2.2% |
| Current investments | 50/53 | €546,196 | €542,399 | -€3,796 | -0.7% |
| Cash at bank and in hand | 54/58 | €975 | €701 | -€274 | -28.1% |
| Deferred charges and accrued income | 490/1 | €18,000 | €27,000 | +€9,000 | +50.0% |
| Total equity and liabilities | 10/49 | €995,715 | €1,001,529 | +€5,814 | +0.6% |
| Equity | 10/15 | €987,678 | €991,601 | +€3,923 | +0.4% |
| Contributions | 10/11 | €64,164 | €64,164 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Outside capital | 11 | €2,164 | €2,164 | = | 0.0% |
| Share premium | 1100/10 | €2,164 | €2,164 | = | 0.0% |
| Reserves | 13 | €923,514 | €927,437 | +€3,923 | +0.4% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €917,314 | €921,237 | +€3,923 | +0.4% |
| Amounts payable | 17/49 | €8,037 | €9,928 | +€1,891 | +23.5% |
| Amounts payable within one year | 42/48 | €787 | €928 | +€141 | +18.0% |
| Trade debts | 44 | €573 | €928 | +€356 | +62.1% |
| Suppliers | 440/4 | €573 | €928 | +€356 | +62.1% |
| Taxes, remuneration and social security | 45 | €214 | - | -€214 | |
| Taxes | 450/3 | €214 | - | -€214 | |
| Accrued charges and deferred income | 492/3 | €7,250 | €9,000 | +€1,750 | +24.1% |
| Non-recurring operating income | 76A | - | €2,443 | +€2,443 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,401 | €7,522 | -€3,879 | -34.0% |
| Other operating charges | 640/8 | €4,027 | €3,139 | -€888 | -22.0% |
| Gross operating margin | 9900 | -€9,162 | -€25,966 | -€16,804 | -183.4% |
| Operating profit (loss) | 9901 | -€24,590 | -€36,627 | -€12,036 | -48.9% |
| Financial income | 75/76B | €36,872 | €41,253 | +€4,381 | +11.9% |
| Recurring financial income | 75 | €36,214 | €36,211 | -€3 | 0.0% |
| Non-recurring financial income | 76B | €658 | €5,042 | +€4,385 | +666.5% |
| Financial charges | 65/66B | €3,199 | €704 | -€2,496 | -78.0% |
| Recurring financial charges | 65 | €425 | €445 | +€20 | +4.7% |
| Non-recurring financial charges | 66B | €2,775 | €259 | -€2,516 | -90.7% |
| Profit (loss) for the period before taxes | 9903 | €9,082 | €3,923 | -€5,159 | -56.8% |
| Profit (loss) for the period | 9904 | €9,082 | €3,923 | -€5,159 | -56.8% |
| Profit (loss) for the period to be appropriated | 9905 | €9,082 | €3,923 | -€5,159 | -56.8% |
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.