L'ALTA MODA: 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.
L'ALTA MODA
Largest movements
- Receivables after one year +€95,000
up €95,000 (+86.4%), from €110,000 to €205,000
- Deferred charges and accrued income -€81,011
down €81,011 (-97.1%), from €83,412 to €2,401
- Stocks and contracts +€24,139
up €24,139 (+6.9%), from €347,589 to €371,728
- Other debts +€66,096
up €66,096 (+273.6%), from €24,162 to €90,258
- Trade debts +€46,684
up €46,684 (+159.8%), from €29,220 to €75,904
- Reserves -€39,370
down €39,370 (-13.3%), from €297,003 to €257,633
of which Distributable reserves: -€39,370
- Short-term financial debts -€29,200
down €29,200 (-47.4%), from €61,600 to €32,400
- Gross operating margin -€31,278
down €31,278 (-23.1%), from €135,585 to €104,307
- Write-downs +€22,796
up €22,796, from -€7,741 to €15,055
- Taxes -€17,171
down €17,171 (-51.1%), from €33,624 to €16,452
- Financial charges -€3,892
down €3,892 (-53.9%), from €7,223 to €3,331
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 | €555,698 | €594,748 | +€39,050 | +7.0% |
| Fixed assets | 21/28 | €1,572 | €1,286 | -€286 | -18.2% |
| Tangible fixed assets | 22/27 | €1,572 | €1,286 | -€286 | -18.2% |
| Plant, machinery and equipment | 23 | €1,572 | €1,286 | -€286 | -18.2% |
| Current assets | 29/58 | €554,126 | €593,462 | +€39,336 | +7.1% |
| Amounts receivable after more than one year | 29 | €110,000 | €205,000 | +€95,000 | +86.4% |
| Other amounts receivable | 291 | €110,000 | €205,000 | +€95,000 | +86.4% |
| Stocks and contracts in progress | 3 | €347,589 | €371,728 | +€24,139 | +6.9% |
| Stocks | 30/36 | €347,589 | €371,728 | +€24,139 | +6.9% |
| Amounts receivable within one year | 40/41 | €3,621 | €5,069 | +€1,448 | +40.0% |
| Other amounts receivable | 41 | €3,621 | €5,069 | +€1,448 | +40.0% |
| Cash at bank and in hand | 54/58 | €9,504 | €9,264 | -€240 | -2.5% |
| Deferred charges and accrued income | 490/1 | €83,412 | €2,401 | -€81,011 | -97.1% |
| Total equity and liabilities | 10/49 | €555,698 | €594,748 | +€39,050 | +7.0% |
| Equity | 10/15 | €334,195 | €294,825 | -€39,370 | -11.8% |
| Contributions | 10/11 | €37,192 | €37,192 | = | 0.0% |
| Reserves | 13 | €297,003 | €257,633 | -€39,370 | -13.3% |
| Non-distributable reserves | 130/1 | €3,719 | €3,719 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,719 | €3,719 | = | 0.0% |
| Tax-exempt reserves | 132 | €19,405 | €19,405 | = | 0.0% |
| Distributable reserves | 133 | €273,878 | €234,508 | -€39,370 | -14.4% |
| Amounts payable | 17/49 | €221,503 | €299,923 | +€78,420 | +35.4% |
| Amounts payable after more than one year | 17 | €36,260 | €36,260 | = | 0.0% |
| Other amounts payable | 178/9 | €36,260 | €36,260 | = | 0.0% |
| Amounts payable within one year | 42/48 | €185,243 | €263,663 | +€78,420 | +42.3% |
| Financial debts | 43 | €61,600 | €32,400 | -€29,200 | -47.4% |
| Credit institutions | 430/8 | €61,600 | €32,400 | -€29,200 | -47.4% |
| Trade debts | 44 | €29,220 | €75,904 | +€46,684 | +159.8% |
| Suppliers | 440/4 | €29,220 | €75,904 | +€46,684 | +159.8% |
| Taxes, remuneration and social security | 45 | €70,261 | €65,101 | -€5,161 | -7.3% |
| Taxes | 450/3 | €60,019 | €54,407 | -€5,612 | -9.4% |
| Remuneration and social security | 454/9 | €10,242 | €10,693 | +€452 | +4.4% |
| Other amounts payable | 47/48 | €24,162 | €90,258 | +€66,096 | +273.6% |
| Remuneration, social security and pensions | 62 | €36,067 | €36,742 | +€675 | +1.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €704 | €286 | -€418 | -59.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€7,741 | €15,055 | +€22,796 | |
| Other operating charges | 640/8 | €1,290 | €1,094 | -€196 | -15.2% |
| Gross operating margin | 9900 | €135,585 | €104,307 | -€31,278 | -23.1% |
| Operating profit (loss) | 9901 | €105,265 | €51,130 | -€54,135 | -51.4% |
| Financial income | 75/76B | €9 | €5 | -€4 | -48.4% |
| Recurring financial income | 75 | €9 | €5 | -€4 | -48.4% |
| Financial charges | 65/66B | €7,223 | €3,331 | -€3,892 | -53.9% |
| Recurring financial charges | 65 | €7,223 | €3,331 | -€3,892 | -53.9% |
| Profit (loss) for the period before taxes | 9903 | €98,050 | €47,804 | -€50,247 | -51.2% |
| Income taxes | 67/77 | €33,624 | €16,452 | -€17,171 | -51.1% |
| Profit (loss) for the period | 9904 | €64,426 | €31,351 | -€33,075 | -51.3% |
| Profit (loss) for the period to be appropriated | 9905 | €64,426 | €31,351 | -€33,075 | -51.3% |
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.