Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Tight liquidity NBB
Cash and receivables cover 64 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
ALTRA from Liège, company number BE0432648110, closed financial year 2025 with a result of € 14,068 after tax. For that financial year ALTRA recorded a gross margin of € 517,839 and equity of € 1.9 million. Compared with financial year 2024, the result moved from € 115,825 to € 14,068. The company is profitable. The buffer is growing. A strong own buffer against the debts. The most recent annual accounts were filed with the National Bank of Belgium on April 20, 2026.
€ 1.9 million
▲ € 1.4 million vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 14,068
▼ 88% vs 2024
Profit after tax over the fiscal year.
€ 71,389
▼ 47% vs 2024
Cash and bank balances on the last day of the fiscal year.
€ 13,000 paid out
92 % of the profit went to the shareholders, mostly to GMT COATINGS SRL (100 % of the shares). That is where the money ends up.
People and assets in 2025
8.9
▼ 1.2 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 392,063
▼ 22% vs 2024
€ 44,100 per full-time equivalent. Payroll staff only. What the director pays themselves is already netted into the gross margin and is not shown separately in the accounts.
€ 56,812
▲ 20% vs 2024
Of which on lease € 21,553.
Debts at end 2025
€ 428,053
▲ 82% vs 2024
€ 34,754 is repaid this year. At this pace the long-term loan is gone in ≈ 6 years.
€ 593,356
▲ 24% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 71,121
▼ 22% vs 2024
Taxes, VAT and social contributions still to pay.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 458,551 | € 578,656 | € 744,918 | € 517,839 | ▼ 30% |
| Profit after taxes | € 60,366 | € 55,136 | € 115,825 | € 14,068 | ▼ 88% |
| Equity | € 411,820 | € 466,956 | € 462,781 | € 1,863,849 | ▲ € 1.4 million |
| Total debts | € 430,353 | € 520,720 | € 928,281 | € 1,400,930 | ▲ 51% |
| Cash | € 90,367 | € 143,270 | € 135,687 | € 71,389 | ▼ 47% |
| Land & buildings | € 14,547 | € 9,088 | € 12,006 | € 139,580 | ▲ € 127,575 |
| Retained profit | € 349,820 | € 404,956 | € 400,781 | € 401,849 | |
| Dividend | € 0 | € 0 | € 120,000 | € 13,000 | ▼ 89% |
| Bank debt | € 24,153 | € 50,271 | € 235,174 | € 428,053 | ▲ 82% |
| Balance sheet total | € 842,174 | € 987,677 | € 1,391,063 | € 3,264,779 | ▲ 135% |
| Employees (FTE) | 7.6 | 9.2 | 10.1 | 8.9 | ▼ 1.2 |
Key figures of ALTRA, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 31 July 2027.
What happened to ALTRA?
What happened at ALTRA in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- P.A.C. MANAGEMENT SRL stepped down as director. NBB
- New annual accounts for financial year 2025: profit of € 14,068 (▼ 88% vs 2024). Source: NBB ↗
- P.A.C. MANAGEMENT SRL became a director. NBB
- New establishment in Liège. KBO
- Start of the company according to the CBE. KBO
In short
From € 60,366 profit in 2022 to € 14,068 profit in 2025.
Paid € 105,479 in corporate taxes since 2022.
Best year ever: 2024, with € 115,825 profit.
On average € 58,200 of value added per employee in 2025.
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De Lijn 8 June 2026 New annual account 2025
filed on 8 June 2026
What was left
€ 20 k ▼ 91%
Money in the bank
€ 178 k ▼ 98%
Open the dossier →
NMBS 8 June 2026 New annual account 2025 What was left ▼ 80%
bpost 18 May 2026 New annual account 2025 What was left from loss to profit
Management
The shares are held by GMT COATINGS SRL (100%). It owns 100% of Metal Protection itself.
Directors
According to the 2025 annual accounts
Director · represented by Pino CARAMAZZA
since 2022 · until 2028
Shareholders
100%
Participations
100%
Establishments
Establishment units
Physical locations of this company
Rue de l'Avouerie 7
4000 Liège
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 9 companies are registered at this address.
All companies at this address →ArcelorMittal Tailored Blanks Liège
€ 52.7 million revenue · 2025
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€ 1.6 million gross margin · 2025
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€ 3.7 million revenue · 2025
EXPECT
€ 228,309 gross margin · 2025
NEUROMEDIA SOFTWARE
€ 95,868 gross margin · 2025
+4 more
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0432.648.110
- VAT number
- BE 0432.648.110
- Registered office
- Rue de l'Avouerie 7, 4000 Liège
- Names & denominations
- ALTRA
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 27 November 1987
- Peppol
- Active · Active since 19 Sept 2025
- Activities · NACE
Coating van metalen
Oppervlaktebehandeling en bekleding van metaal
Oppervlaktebehandeling van metalen