ALTERLINE: what changed
ALTERLINE
Largest movements
- Cash +€158,535
up €158,535 (+26.8%), from €592,165 to €750,700
mainly Receivables within one year (+€147,783) and Net result for the year (+€85,658)
- Receivables within one year -€147,783
down €147,783 (-39.2%), from €377,178 to €229,395
of which Trade receivables: -€129,618
- Other debts -€108,562
down €108,562 (-46.6%), from €232,739 to €124,177
- Reserves +€85,658
up €85,658 (+10.6%), from €808,823 to €894,481
of which Distributable reserves: +€87,658
- Trade debts +€47,568
up €47,568 (+1,120%), from €4,248 to €51,816
- Debts after one year -€29,317
down €29,317 (-9.3%), from €316,835 to €287,518
- Gross operating margin -€64,754
down €64,754 (-23.5%), from €275,336 to €210,582
- Financial charges +€52,942
up €52,942 (+1,243%), from €4,258 to €57,200
- Taxes -€23,773
down €23,773 (-34.6%), from €68,731 to €44,958
- Other operating charges -€18,534
down €18,534 (-62.5%), from €29,672 to €11,138
- Financial income -€11,203
down €11,203 (-79.5%), from €14,094 to €2,891
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,474,623 | €1,473,097 | -€1,526 | -0.1% |
| Fixed assets | 21/28 | €504,976 | €492,790 | -€12,187 | -2.4% |
| Tangible fixed assets | 22/27 | €488,626 | €477,540 | -€11,087 | -2.3% |
| Land and buildings | 22 | €487,497 | €473,752 | -€13,745 | -2.8% |
| Furniture and vehicles | 24 | €1,130 | €3,788 | +€2,658 | +235% |
| Financial fixed assets | 28 | €16,350 | €15,250 | -€1,100 | -6.7% |
| Current assets | 29/58 | €969,646 | €980,307 | +€10,661 | +1.1% |
| Amounts receivable within one year | 40/41 | €377,178 | €229,395 | -€147,783 | -39.2% |
| Trade receivables | 40 | €289,085 | €159,467 | -€129,618 | -44.8% |
| Other amounts receivable | 41 | €88,093 | €69,928 | -€18,165 | -20.6% |
| Cash at bank and in hand | 54/58 | €592,165 | €750,700 | +€158,535 | +26.8% |
| Deferred charges and accrued income | 490/1 | €303 | €212 | -€92 | -30.2% |
| Total equity and liabilities | 10/49 | €1,474,623 | €1,473,097 | -€1,526 | -0.1% |
| Equity | 10/15 | €889,168 | €974,827 | +€85,658 | +9.6% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €808,823 | €894,481 | +€85,658 | +10.6% |
| Non-distributable reserves | 130/1 | €2,000 | - | -€2,000 | |
| Other | 1319 | €2,000 | - | -€2,000 | |
| Distributable reserves | 133 | €806,823 | €894,481 | +€87,658 | +10.9% |
| Profit (loss) carried forward | 14 | €60,345 | €60,345 | = | 0.0% |
| Amounts payable | 17/49 | €585,454 | €498,270 | -€87,184 | -14.9% |
| Amounts payable after more than one year | 17 | €316,835 | €287,518 | -€29,317 | -9.3% |
| Financial debts | 170/4 | €316,835 | €287,518 | -€29,317 | -9.3% |
| Amounts payable within one year | 42/48 | €267,630 | €209,605 | -€58,025 | -21.7% |
| Current portion of amounts payable after more than one year | 42 | €29,040 | €29,317 | +€278 | +1.0% |
| Trade debts | 44 | €4,248 | €51,816 | +€47,568 | +1,120% |
| Suppliers | 440/4 | €4,248 | €51,816 | +€47,568 | +1,120% |
| Taxes, remuneration and social security | 45 | €1,604 | €4,294 | +€2,690 | +168% |
| Taxes | 450/3 | €1,604 | €4,294 | +€2,690 | +168% |
| Other amounts payable | 47/48 | €232,739 | €124,177 | -€108,562 | -46.6% |
| Accrued charges and deferred income | 492/3 | €989 | €1,147 | +€158 | +16.0% |
| Non-recurring operating income | 76A | €12,179 | €12,179 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,601 | €14,519 | -€81 | -0.6% |
| Other operating charges | 640/8 | €29,672 | €11,138 | -€18,534 | -62.5% |
| Gross operating margin | 9900 | €275,336 | €210,582 | -€64,754 | -23.5% |
| Operating profit (loss) | 9901 | €231,064 | €184,925 | -€46,139 | -20.0% |
| Financial income | 75/76B | €14,094 | €2,891 | -€11,203 | -79.5% |
| Recurring financial income | 75 | €14,094 | €2,891 | -€11,203 | -79.5% |
| Financial charges | 65/66B | €4,258 | €57,200 | +€52,942 | +1,243% |
| Recurring financial charges | 65 | €4,258 | €57,200 | +€52,942 | +1,243% |
| Profit (loss) for the period before taxes | 9903 | €240,900 | €130,616 | -€110,283 | -45.8% |
| Income taxes | 67/77 | €68,731 | €44,958 | -€23,773 | -34.6% |
| Profit (loss) for the period | 9904 | €172,168 | €85,658 | -€86,510 | -50.2% |
| Profit (loss) for the period to be appropriated | 9905 | €172,168 | €85,658 | -€86,510 | -50.2% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.