Altun Logistics: 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.
Altun Logistics
Largest movements
- Receivables within one year +€1.5m
up €1.5m (+26.9%), from €5.5m to €7.0m
of which Trade receivables: +€1.5m
- Cash +€723,819
up €723,819 (+71.3%), from €1.0m to €1.7m
mainly Net result for the year (+€2.9m) and Receivables after one year (+€196,316)
- Financial fixed assets +€468,212
up €468,212 (+253%), from €185,136 to €653,348
- Current investments +€308,392
up €308,392 (+11.2%), from €2.8m to €3.1m
- Receivables after one year -€196,316
no longer reported in 2025 (was €196,316)
- Reserves +€2.9m
up €2.9m (+33.8%), from €8.6m to €11.5m
of which Distributable reserves: +€2.5m
- Financial income +€1.7m
up €1.7m (+1,133%), from €146,458 to €1.8m
- Gross operating margin +€259,430
up €259,430 (+9.3%), from €2.8m to €3.1m
- Taxes +€176,097
up €176,097 (+81.6%), from €215,674 to €391,771
- Financial charges -€170,263
down €170,263, from €28,547 to -€141,716
- Staff costs -€122,930
down €122,930 (-13.8%), from €889,556 to €766,626
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 | €10,352,307 | €13,054,327 | +€2.7m | +26.1% |
| Fixed assets | 21/28 | €890,161 | €1,285,186 | +€395,025 | +44.4% |
| Tangible fixed assets | 22/27 | €705,025 | €631,838 | -€73,187 | -10.4% |
| Land and buildings | 22 | €671,424 | €612,780 | -€58,644 | -8.7% |
| Plant, machinery and equipment | 23 | €2,179 | €1,740 | -€439 | -20.1% |
| Furniture and vehicles | 24 | €31,422 | €17,318 | -€14,104 | -44.9% |
| Financial fixed assets | 28 | €185,136 | €653,348 | +€468,212 | +253% |
| Current assets | 29/58 | €9,462,146 | €11,769,141 | +€2.3m | +24.4% |
| Amounts receivable after more than one year | 29 | €196,316 | - | -€196,316 | |
| Other amounts receivable | 291 | €196,316 | - | -€196,316 | |
| Amounts receivable within one year | 40/41 | €5,477,859 | €6,950,242 | +€1.5m | +26.9% |
| Trade receivables | 40 | €5,185,600 | €6,708,145 | +€1.5m | +29.4% |
| Other amounts receivable | 41 | €292,259 | €242,097 | -€50,163 | -17.2% |
| Current investments | 50/53 | €2,764,386 | €3,072,778 | +€308,392 | +11.2% |
| Cash at bank and in hand | 54/58 | €1,015,140 | €1,738,960 | +€723,819 | +71.3% |
| Deferred charges and accrued income | 490/1 | €8,445 | €7,163 | -€1,282 | -15.2% |
| Total equity and liabilities | 10/49 | €10,352,307 | €13,054,327 | +€2.7m | +26.1% |
| Equity | 10/15 | €8,674,114 | €11,569,248 | +€2.9m | +33.4% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Capital | 10 | €100,000 | €100,000 | = | 0.0% |
| Issued capital | 100 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €8,574,114 | €11,469,248 | +€2.9m | +33.8% |
| Non-distributable reserves | 130/1 | €10,000 | €10,000 | = | 0.0% |
| Legal reserve | 130 | €10,000 | €10,000 | = | 0.0% |
| Tax-exempt reserves | 132 | - | €421,000 | +€421,000 | |
| Distributable reserves | 133 | €8,564,114 | €11,038,248 | +€2.5m | +28.9% |
| Amounts payable | 17/49 | €1,678,194 | €1,485,079 | -€193,114 | -11.5% |
| Amounts payable after more than one year | 17 | €179,666 | €81,666 | -€98,000 | -54.5% |
| Financial debts | 170/4 | €179,666 | €81,666 | -€98,000 | -54.5% |
| Amounts payable within one year | 42/48 | €1,498,527 | €1,403,413 | -€95,114 | -6.3% |
| Current portion of amounts payable after more than one year | 42 | €103,000 | €103,000 | = | 0.0% |
| Trade debts | 44 | €1,235,740 | €1,133,069 | -€102,670 | -8.3% |
| Suppliers | 440/4 | €1,235,740 | €1,133,069 | -€102,670 | -8.3% |
| Taxes, remuneration and social security | 45 | €153,814 | €61,370 | -€92,444 | -60.1% |
| Taxes | 450/3 | €76,255 | - | -€76,255 | |
| Remuneration and social security | 454/9 | €77,559 | €61,370 | -€16,190 | -20.9% |
| Other amounts payable | 47/48 | €5,974 | €105,974 | +€100,000 | +1,674% |
| Remuneration, social security and pensions | 62 | €889,556 | €766,626 | -€122,930 | -13.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €84,687 | €76,172 | -€8,515 | -10.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €13,848 | +€13,848 | |
| Other operating charges | 640/8 | €971,607 | €860,757 | -€110,850 | -11.4% |
| Gross operating margin | 9900 | €2,797,923 | €3,057,352 | +€259,430 | +9.3% |
| Operating profit (loss) | 9901 | €852,073 | €1,339,949 | +€487,877 | +57.3% |
| Financial income | 75/76B | €146,458 | €1,805,241 | +€1.7m | +1,133% |
| Recurring financial income | 75 | €146,458 | €1,805,241 | +€1.7m | +1,133% |
| Financial charges | 65/66B | €28,547 | -€141,716 | -€170,263 | |
| Recurring financial charges | 65 | €28,547 | -€141,716 | -€170,263 | |
| Profit (loss) for the period before taxes | 9903 | €969,984 | €3,286,906 | +€2.3m | +239% |
| Income taxes | 67/77 | €215,674 | €391,771 | +€176,097 | +81.6% |
| Profit (loss) for the period | 9904 | €754,310 | €2,895,134 | +€2.1m | +284% |
| Transfer to tax-exempt reserves | 689 | - | €421,000 | +€421,000 | |
| Profit (loss) for the period to be appropriated | 9905 | €754,310 | €2,474,134 | +€1.7m | +228% |
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.