B.RTM: 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.
B.RTM
Largest movements
- Receivables within one year +€59,161
up €59,161 (+50.6%), from €116,879 to €176,040
of which Other amounts receivable: +€39,779
- Cash -€23,366
down €23,366 (-82.7%), from €28,264 to €4,898
mainly Receivables within one year (-€59,161) and Investment in fixed assets (net) (-€4,939)
- Trade debts +€19,391
up €19,391 (+918.3%), from €2,112 to €21,503
- Accrued charges and deferred income +€18,652
up €18,652 (+200.4%), from €9,305 to €27,957
- Gross operating margin -€165,109
down €165,109 (-97.8%), from €168,880 to €3,771
- Taxes -€33,934
down €33,934 (-97.3%), from €34,882 to €948
- Write-downs -€10,910
down €10,910 (-100.0%), from €10,910 to €0
- Financial income +€4,246
up €4,246 (+207.6%), from €2,045 to €6,291
- Financial charges -€2,345
down €2,345 (-36.0%), from €6,511 to €4,166
of which Non-recurring financial charges: -€4,496
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 | €161,501 | €198,983 | +€37,482 | +23.2% |
| Fixed assets | 21/28 | €15,824 | €15,823 | -€1 | 0.0% |
| Tangible fixed assets | 22/27 | €15,824 | €15,823 | -€1 | 0.0% |
| Plant, machinery and equipment | 23 | €9,034 | €10,099 | +€1,065 | +11.8% |
| Furniture and vehicles | 24 | €6,791 | €5,724 | -€1,067 | -15.7% |
| Current assets | 29/58 | €145,676 | €183,160 | +€37,484 | +25.7% |
| Amounts receivable within one year | 40/41 | €116,879 | €176,040 | +€59,161 | +50.6% |
| Trade receivables | 40 | €26,477 | €45,858 | +€19,382 | +73.2% |
| Other amounts receivable | 41 | €90,402 | €130,181 | +€39,779 | +44.0% |
| Cash at bank and in hand | 54/58 | €28,264 | €4,898 | -€23,366 | -82.7% |
| Deferred charges and accrued income | 490/1 | €533 | €2,222 | +€1,689 | +316.9% |
| Total equity and liabilities | 10/49 | €161,501 | €198,983 | +€37,482 | +23.2% |
| Equity | 10/15 | €114,488 | €112,691 | -€1,797 | -1.6% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Reserves | 13 | €114,388 | €114,388 | = | 0.0% |
| Distributable reserves | 133 | €114,388 | €114,388 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€1,797 | -€1,797 | |
| Amounts payable | 17/49 | €47,012 | €86,292 | +€39,280 | +83.6% |
| Amounts payable within one year | 42/48 | €37,707 | €58,335 | +€20,628 | +54.7% |
| Trade debts | 44 | €2,112 | €21,503 | +€19,391 | +918.3% |
| Suppliers | 440/4 | €2,112 | €21,503 | +€19,391 | +918.3% |
| Taxes, remuneration and social security | 45 | €35,595 | €36,832 | +€1,237 | +3.5% |
| Taxes | 450/3 | €35,595 | €36,832 | +€1,237 | +3.5% |
| Accrued charges and deferred income | 492/3 | €9,305 | €27,957 | +€18,652 | +200.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,650 | €4,940 | +€2,290 | +86.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €10,910 | €0 | -€10,910 | -100.0% |
| Other operating charges | 640/8 | €1,584 | €1,635 | +€50 | +3.2% |
| Non-recurring operating charges | 66A | - | €170 | +€170 | |
| Gross operating margin | 9900 | €168,880 | €3,771 | -€165,109 | -97.8% |
| Operating profit (loss) | 9901 | €153,735 | -€2,975 | -€156,710 | |
| Financial income | 75/76B | €2,045 | €6,291 | +€4,246 | +207.6% |
| Recurring financial income | 75 | €2,045 | €6,291 | +€4,246 | +207.6% |
| Financial charges | 65/66B | €6,511 | €4,166 | -€2,345 | -36.0% |
| Recurring financial charges | 65 | €2,014 | €4,166 | +€2,152 | +106.8% |
| Non-recurring financial charges | 66B | €4,496 | - | -€4,496 | |
| Profit (loss) for the period before taxes | 9903 | €149,270 | -€850 | -€150,120 | |
| Income taxes | 67/77 | €34,882 | €948 | -€33,934 | -97.3% |
| Profit (loss) for the period | 9904 | €114,388 | -€1,797 | -€116,186 | |
| Profit (loss) for the period to be appropriated | 9905 | €114,388 | -€1,797 | -€116,186 |
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 4 October 2026 via checked.be.