B.T.A.P.: 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.
B.T.A.P.
Largest movements
- Tangible fixed assets -€18,808
down €18,808 (-7.6%), from €247,097 to €228,288
of which Land and buildings: -€9,718
- Cash -€16,755
down €16,755 (-74.6%), from €22,449 to €5,694
mainly Debts after one year (-€12,567) and Stocks and contracts (-€10,774)
- Stocks and contracts +€10,774
up €10,774 (+25.3%), from €42,552 to €53,326
- Receivables within one year +€10,459
up €10,459 (+7.0%), from €148,388 to €158,847
of which Other amounts receivable: +€15,034
- Debts after one year -€12,567
down €12,567 (-9.0%), from €139,280 to €126,713
- Trade debts -€5,291
down €5,291 (-82.8%), from €6,386 to €1,096
- Tax, wage and social debts -€4,705
down €4,705 (-92.9%), from €5,065 to €361
- Reserves +€4,669
up €4,669 (+21.3%), from €21,927 to €26,596
- Gross operating margin -€29,349
down €29,349 (-57.2%), from €51,349 to €21,999
- Taxes -€7,594
down €7,594 (-75.4%), from €10,065 to €2,472
- Depreciation -€2,878
down €2,878 (-13.3%), from €21,687 to €18,808
- Financial income +€551
up €551 (+7.0%), from €7,931 to €8,482
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 | €464,423 | €446,155 | -€18,267 | -3.9% |
| Fixed assets | 21/28 | €247,097 | €228,288 | -€18,808 | -7.6% |
| Tangible fixed assets | 22/27 | €247,097 | €228,288 | -€18,808 | -7.6% |
| Land and buildings | 22 | €233,230 | €223,513 | -€9,718 | -4.2% |
| Plant, machinery and equipment | 23 | €7,316 | €3,220 | -€4,096 | -56.0% |
| Furniture and vehicles | 24 | €6,550 | €1,556 | -€4,994 | -76.2% |
| Current assets | 29/58 | €217,326 | €217,867 | +€541 | +0.2% |
| Stocks and contracts in progress | 3 | €42,552 | €53,326 | +€10,774 | +25.3% |
| Stocks | 30/36 | €42,552 | €53,326 | +€10,774 | +25.3% |
| Amounts receivable within one year | 40/41 | €148,388 | €158,847 | +€10,459 | +7.0% |
| Trade receivables | 40 | €4,575 | €0 | -€4,575 | -100% |
| Other amounts receivable | 41 | €143,813 | €158,847 | +€15,034 | +10.5% |
| Cash at bank and in hand | 54/58 | €22,449 | €5,694 | -€16,755 | -74.6% |
| Deferred charges and accrued income | 490/1 | €3,937 | €0 | -€3,937 | -100% |
| Total equity and liabilities | 10/49 | €464,423 | €446,155 | -€18,267 | -3.9% |
| Equity | 10/15 | €298,622 | €303,291 | +€4,669 | +1.6% |
| Contributions | 10/11 | €19,000 | €19,000 | = | 0.0% |
| Reserves | 13 | €21,927 | €26,596 | +€4,669 | +21.3% |
| Distributable reserves | 133 | €21,927 | €26,596 | +€4,669 | +21.3% |
| Profit (loss) carried forward | 14 | €257,695 | €257,695 | = | 0.0% |
| Amounts payable | 17/49 | €165,801 | €142,864 | -€22,937 | -13.8% |
| Amounts payable after more than one year | 17 | €139,280 | €126,713 | -€12,567 | -9.0% |
| Financial debts | 170/4 | €139,280 | €126,713 | -€12,567 | -9.0% |
| Amounts payable within one year | 42/48 | €26,521 | €16,151 | -€10,370 | -39.1% |
| Current portion of amounts payable after more than one year | 42 | €12,567 | €12,567 | = | 0.0% |
| Financial debts | 43 | €2,502 | €2,128 | -€374 | -15.0% |
| Credit institutions | 430/8 | €2,502 | €2,128 | -€374 | -15.0% |
| Trade debts | 44 | €6,386 | €1,096 | -€5,291 | -82.8% |
| Suppliers | 440/4 | €6,386 | €1,096 | -€5,291 | -82.8% |
| Taxes, remuneration and social security | 45 | €5,065 | €361 | -€4,705 | -92.9% |
| Taxes | 450/3 | €5,065 | €361 | -€4,705 | -92.9% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €15,405 | €0 | -€15,405 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,687 | €18,808 | -€2,878 | -13.3% |
| Other operating charges | 640/8 | €1,772 | €1,486 | -€285 | -16.1% |
| Gross operating margin | 9900 | €51,349 | €21,999 | -€29,349 | -57.2% |
| Operating profit (loss) | 9901 | €27,890 | €1,705 | -€26,186 | -93.9% |
| Financial income | 75/76B | €7,931 | €8,482 | +€551 | +7.0% |
| Recurring financial income | 75 | €7,931 | €8,482 | +€551 | +7.0% |
| Financial charges | 65/66B | €3,234 | €3,046 | -€188 | -5.8% |
| Recurring financial charges | 65 | €3,234 | €3,046 | -€188 | -5.8% |
| Profit (loss) for the period before taxes | 9903 | €32,587 | €7,141 | -€25,446 | -78.1% |
| Income taxes | 67/77 | €10,065 | €2,472 | -€7,594 | -75.4% |
| Profit (loss) for the period | 9904 | €22,522 | €4,669 | -€17,853 | -79.3% |
| Profit (loss) for the period to be appropriated | 9905 | €22,522 | €4,669 | -€17,853 | -79.3% |
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 19 October 2026 via checked.be.