BY ALTUNA: 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.
BY ALTUNA
Largest movements
- Receivables within one year -€44,696
down €44,696 (-78.8%), from €56,755 to €12,060
of which Trade receivables: -€44,696
- Tangible fixed assets -€18,319
down €18,319 (-26.9%), from €68,015 to €49,696
of which Furniture and vehicles: -€10,000
- Stocks and contracts -€2,619
down €2,619 (-29.9%), from €8,767 to €6,148
- Deferred charges and accrued income -€2,437
down €2,437 (-59.1%), from €4,126 to €1,689
- Trade debts -€51,275
down €51,275 (-67.1%), from €76,372 to €25,097
- Other debts +€23,661
up €23,661 (+31.7%), from €74,550 to €98,210
- Tax, wage and social debts -€14,474
down €14,474 (-39.2%), from €36,881 to €22,408
of which Taxes: -€12,053
- Profit (loss) carried forward -€14,351
down €14,351, from €1,865 to -€12,486
- Debts after one year -€7,677
down €7,677 (-27.9%), from €27,514 to €19,837
- Staff costs -€23,369
down €23,369 (-25.5%), from €91,505 to €68,136
- Gross operating margin -€19,574
down €19,574 (-17.9%), from €109,230 to €89,656
- Other operating charges +€5,513
up €5,513 (+758%), from €727 to €6,240
- Financial charges +€4,984
up €4,984 (+89.6%), from €5,565 to €10,549
- Taxes -€3,577
down €3,577 (-95.3%), from €3,753 to €176
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 | €237,338 | €169,602 | -€67,736 | -28.5% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €158,307 | €139,402 | -€18,905 | -11.9% |
| Intangible fixed assets | 21 | €1,292 | €705 | -€587 | -45.4% |
| Tangible fixed assets | 22/27 | €68,015 | €49,696 | -€18,319 | -26.9% |
| Plant, machinery and equipment | 23 | €25,991 | €17,782 | -€8,209 | -31.6% |
| Furniture and vehicles | 24 | €41,804 | €31,804 | -€10,000 | -23.9% |
| Other tangible fixed assets | 26 | €219 | €110 | -€110 | -50.1% |
| Financial fixed assets | 28 | €89,000 | €89,000 | = | 0.0% |
| Current assets | 29/58 | €79,031 | €30,200 | -€48,831 | -61.8% |
| Stocks and contracts in progress | 3 | €8,767 | €6,148 | -€2,619 | -29.9% |
| Stocks | 30/36 | €8,767 | €6,148 | -€2,619 | -29.9% |
| Amounts receivable within one year | 40/41 | €56,755 | €12,060 | -€44,696 | -78.8% |
| Trade receivables | 40 | €53,746 | €9,050 | -€44,696 | -83.2% |
| Other amounts receivable | 41 | €3,009 | €3,009 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €9,382 | €10,303 | +€920 | +9.8% |
| Deferred charges and accrued income | 490/1 | €4,126 | €1,689 | -€2,437 | -59.1% |
| Total equity and liabilities | 10/49 | €237,338 | €169,602 | -€67,736 | -28.5% |
| Equity | 10/15 | €3,365 | -€10,986 | -€14,351 | |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,865 | -€12,486 | -€14,351 | |
| Amounts payable | 17/49 | €233,973 | €180,587 | -€53,385 | -22.8% |
| Amounts payable after more than one year | 17 | €27,514 | €19,837 | -€7,677 | -27.9% |
| Financial debts | 170/4 | €27,514 | €19,837 | -€7,677 | -27.9% |
| Amounts payable within one year | 42/48 | €203,459 | €159,204 | -€44,254 | -21.8% |
| Current portion of amounts payable after more than one year | 42 | €7,384 | €7,677 | +€293 | +4.0% |
| Trade debts | 44 | €76,372 | €25,097 | -€51,275 | -67.1% |
| Suppliers | 440/4 | €76,372 | €25,097 | -€51,275 | -67.1% |
| Advances received on contracts in progress | 46 | €8,272 | €5,812 | -€2,460 | -29.7% |
| Taxes, remuneration and social security | 45 | €36,881 | €22,408 | -€14,474 | -39.2% |
| Taxes | 450/3 | €16,944 | €4,891 | -€12,053 | -71.1% |
| Remuneration and social security | 454/9 | €19,937 | €17,517 | -€2,420 | -12.1% |
| Other amounts payable | 47/48 | €74,550 | €98,210 | +€23,661 | +31.7% |
| Accrued charges and deferred income | 492/3 | €3,000 | €1,546 | -€1,454 | -48.5% |
| Remuneration, social security and pensions | 62 | €91,505 | €68,136 | -€23,369 | -25.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,447 | €18,905 | +€3,459 | +22.4% |
| Other operating charges | 640/8 | €727 | €6,240 | +€5,513 | +758% |
| Gross operating margin | 9900 | €109,230 | €89,656 | -€19,574 | -17.9% |
| Operating profit (loss) | 9901 | €1,551 | -€3,626 | -€5,177 | |
| Financial income | 75/76B | €4 | €0 | -€4 | -100% |
| Recurring financial income | 75 | €4 | €0 | -€4 | -100% |
| Financial charges | 65/66B | €5,565 | €10,549 | +€4,984 | +89.6% |
| Recurring financial charges | 65 | €5,565 | €10,549 | +€4,984 | +89.6% |
| Profit (loss) for the period before taxes | 9903 | -€4,011 | -€14,175 | -€10,164 | -253% |
| Income taxes | 67/77 | €3,753 | €176 | -€3,577 | -95.3% |
| Profit (loss) for the period | 9904 | -€7,764 | -€14,351 | -€6,587 | -84.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€7,764 | -€14,351 | -€6,587 | -84.8% |
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 20 October 2026 via checked.be.