ALTUS: 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.
ALTUS
Largest movements
- Tangible fixed assets +€198,153
up €198,153 (+10.3%), from €1.9m to €2.1m
of which Land and buildings: +€199,035
- Cash +€142,803
up €142,803 (+316,497%), from €45 to €142,848
mainly Debts after one year (+€689,251) and Trade debts (+€425,515)
- Short-term financial debts -€714,909
no longer reported in 2025 (was €714,909)
- Debts after one year +€689,251
up €689,251 (+115%), from €598,423 to €1.3m
- Trade debts +€425,515
new in 2025: €425,515
- Profit (loss) carried forward +€161,384
up €161,384 (+44.8%), from -€359,997 to -€198,613
- Reserves -€148,343
down €148,343 (-29.5%), from €503,138 to €354,795
of which Tax-exempt reserves: -€148,343
- Financial charges -€507,218
down €507,218 (-95.8%), from €529,574 to €22,356
of which Non-recurring financial charges: -€440,000
- Taxes +€59,950
up €59,950 (+2,390%), from €2,508 to €62,458
- Gross operating margin -€54,973
down €54,973 (-31.8%), from €173,053 to €118,079
- Depreciation -€35,764
down €35,764 (-34.4%), from €103,844 to €68,080
- Other operating charges +€6,311
up €6,311 (+28.1%), from €22,485 to €28,797
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 | €1,925,242 | €2,257,192 | +€331,950 | +17.2% |
| Fixed assets | 21/28 | €1,916,191 | €2,114,344 | +€198,153 | +10.3% |
| Tangible fixed assets | 22/27 | €1,916,191 | €2,114,344 | +€198,153 | +10.3% |
| Land and buildings | 22 | €1,914,336 | €2,113,371 | +€199,035 | +10.4% |
| Plant, machinery and equipment | 23 | €1,855 | €973 | -€881 | -47.5% |
| Current assets | 29/58 | €9,051 | €142,848 | +€133,797 | +1,478% |
| Amounts receivable within one year | 40/41 | €9,006 | - | -€9,006 | |
| Trade receivables | 40 | €3,374 | - | -€3,374 | |
| Other amounts receivable | 41 | €5,632 | - | -€5,632 | |
| Cash at bank and in hand | 54/58 | €45 | €142,848 | +€142,803 | +316,497% |
| Total equity and liabilities | 10/49 | €1,925,242 | €2,257,192 | +€331,950 | +17.2% |
| Equity | 10/15 | €225,141 | €238,182 | +€13,041 | +5.8% |
| Contributions | 10/11 | €82,000 | €82,000 | = | 0.0% |
| Capital | 10 | €82,000 | €82,000 | = | 0.0% |
| Issued capital | 100 | €82,000 | €82,000 | = | 0.0% |
| Reserves | 13 | €503,138 | €354,795 | -€148,343 | -29.5% |
| Non-distributable reserves | 130/1 | €8,200 | €8,200 | = | 0.0% |
| Legal reserve | 130 | €8,200 | €8,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €412,918 | €264,575 | -€148,343 | -35.9% |
| Distributable reserves | 133 | €82,020 | €82,020 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€359,997 | -€198,613 | +€161,384 | +44.8% |
| Provisions and deferred taxes | 16 | €212,015 | €135,367 | -€76,649 | -36.2% |
| Deferred taxes | 168 | €212,015 | €135,367 | -€76,649 | -36.2% |
| Amounts payable | 17/49 | €1,488,086 | €1,883,644 | +€395,558 | +26.6% |
| Amounts payable after more than one year | 17 | €598,423 | €1,287,674 | +€689,251 | +115% |
| Financial debts | 170/4 | €598,423 | €1,287,674 | +€689,251 | +115% |
| Amounts payable within one year | 42/48 | €889,663 | €595,970 | -€293,693 | -33.0% |
| Current portion of amounts payable after more than one year | 42 | €72,342 | €51,922 | -€20,420 | -28.2% |
| Financial debts | 43 | €714,909 | - | -€714,909 | |
| Credit institutions | 430/8 | €714,909 | - | -€714,909 | |
| Trade debts | 44 | - | €425,515 | +€425,515 | |
| Suppliers | 440/4 | - | €425,515 | +€425,515 | |
| Taxes, remuneration and social security | 45 | €2,550 | €62,500 | +€59,950 | +2,351% |
| Taxes | 450/3 | €2,550 | €62,500 | +€59,950 | +2,351% |
| Other amounts payable | 47/48 | €99,862 | €56,033 | -€43,829 | -43.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €103,844 | €68,080 | -€35,764 | -34.4% |
| Other operating charges | 640/8 | €22,485 | €28,797 | +€6,311 | +28.1% |
| Gross operating margin | 9900 | €173,053 | €118,079 | -€54,973 | -31.8% |
| Operating profit (loss) | 9901 | €46,723 | €21,203 | -€25,520 | -54.6% |
| Financial income | 75/76B | €16 | €3 | -€13 | -80.0% |
| Recurring financial income | 75 | €16 | €3 | -€13 | -80.0% |
| Financial charges | 65/66B | €529,574 | €22,356 | -€507,218 | -95.8% |
| Recurring financial charges | 65 | €89,574 | €22,356 | -€67,218 | -75.0% |
| Non-recurring financial charges | 66B | €440,000 | - | -€440,000 | |
| Profit (loss) for the period before taxes | 9903 | -€482,834 | -€1,149 | +€481,685 | +99.8% |
| Transfer from deferred taxes | 780 | €17,747 | €76,649 | +€58,902 | +332% |
| Income taxes | 67/77 | €2,508 | €62,458 | +€59,950 | +2,390% |
| Profit (loss) for the period | 9904 | -€467,595 | €13,041 | +€480,636 | |
| Transfer from tax-exempt reserves | 789 | €34,466 | €148,343 | +€113,877 | +330% |
| Profit (loss) for the period to be appropriated | 9905 | -€433,130 | €161,384 | +€594,514 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 October 2026 via checked.be.