B.T.L.: what changed
What changed
B.T.L.
NACE 46.431, Wholesale of electrical household appliances and audio-video equipment
filed annual accounts (NBB)
Net result for the year
€527
2024 · €23,640-€23,113
Equity
€597,519
2024 · €596,992+€527
Cash
€131,266
2024 · €323,073-€191,807
Balance sheet total
€699,449
2024 · €887,459-€188,011
Largest movements
Assets
- Cash -€191,807
down €191,807 (-59.4%), from €323,073 to €131,266
mainly Trade debts (-€147,071) and Other debts (-€35,720)
- Tangible fixed assets -€17,821
down €17,821 (-34.0%), from €52,446 to €34,625
of which Land and buildings: -€23,176
- Stocks and contracts +€15,812
up €15,812 (+8.1%), from €196,053 to €211,865
- Deferred charges and accrued income +€11,033
up €11,033 (+341%), from €3,233 to €14,266
Equity and liabilities
- Trade debts -€147,071
down €147,071 (-64.2%), from €229,209 to €82,138
- Other debts -€35,720
down €35,720 (-83.9%), from €42,552 to €6,832
Income statement
- Gross operating margin -€63,253
down €63,253 (-65.2%), from €97,014 to €33,761
- Financial income +€26,178
up €26,178 (+97.9%), from €26,745 to €52,923
- Taxes -€19,991
down €19,991, from €17,564 to -€2,427
- Staff costs +€5,022
up €5,022 (+9.2%), from €54,396 to €59,419
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.
Result 2024
€23,640
Gross operating margin
-€63,253
Staff costs
-€5,022
Depreciation
-€750
Other operating charges
-€904
Financial income
+€26,178
Financial charges
+€648
Taxes
+€19,991
Result 2025
€527
raises the resultlowers the result
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.
From operations
-€185,275
Investment
-€6,532
Financing
€0
Cash 2024
€323,073
From operations (derived)
-€185,275
Net result for the year
+€527
Depreciation
+€24,353
Stocks and contracts
-€15,812
Receivables within one year
+€5,227
Deferred charges and accrued income
-€11,033
Trade debts
-€147,071
Tax, wage and social debts
-€5,748
Other debts
-€35,720
Investment (derived)
-€6,532
Investment in fixed assets (net)
-€6,532
Cash 2025
€131,266
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €887,459 | €699,449 | -€188,011 | -21.2% |
| Fixed assets | 21/28 | €52,446 | €34,625 | -€17,821 | -34.0% |
| Tangible fixed assets | 22/27 | €52,446 | €34,625 | -€17,821 | -34.0% |
| Land and buildings | 22 | €52,214 | €29,038 | -€23,176 | -44.4% |
| Plant, machinery and equipment | 23 | - | €5,587 | +€5,587 | |
| Furniture and vehicles | 24 | €232 | €0 | -€232 | -100% |
| Current assets | 29/58 | €835,013 | €664,824 | -€170,190 | -20.4% |
| Stocks and contracts in progress | 3 | €196,053 | €211,865 | +€15,812 | +8.1% |
| Stocks | 30/36 | €196,053 | €211,865 | +€15,812 | +8.1% |
| Amounts receivable within one year | 40/41 | €312,596 | €307,369 | -€5,227 | -1.7% |
| Trade receivables | 40 | €310,429 | €276,038 | -€34,391 | -11.1% |
| Other amounts receivable | 41 | €2,167 | €31,331 | +€29,164 | +1,346% |
| Current investments | 50/53 | €57 | €57 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €323,073 | €131,266 | -€191,807 | -59.4% |
| Deferred charges and accrued income | 490/1 | €3,233 | €14,266 | +€11,033 | +341% |
| Total equity and liabilities | 10/49 | €887,459 | €699,449 | -€188,011 | -21.2% |
| Equity | 10/15 | €596,992 | €597,519 | +€527 | +0.1% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €488,374 | €488,374 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €45,750 | €45,750 | = | 0.0% |
| Distributable reserves | 133 | €436,424 | €436,424 | = | 0.0% |
| Profit (loss) carried forward | 14 | €46,618 | €47,146 | +€527 | +1.1% |
| Amounts payable | 17/49 | €290,468 | €101,929 | -€188,538 | -64.9% |
| Amounts payable within one year | 42/48 | €285,468 | €96,929 | -€188,538 | -66.0% |
| Trade debts | 44 | €229,209 | €82,138 | -€147,071 | -64.2% |
| Suppliers | 440/4 | €229,209 | €82,138 | -€147,071 | -64.2% |
| Taxes, remuneration and social security | 45 | €13,707 | €7,960 | -€5,748 | -41.9% |
| Taxes | 450/3 | €6,023 | €0 | -€6,023 | -100% |
| Remuneration and social security | 454/9 | €7,684 | €7,960 | +€275 | +3.6% |
| Other amounts payable | 47/48 | €42,552 | €6,832 | -€35,720 | -83.9% |
| Accrued charges and deferred income | 492/3 | €5,000 | €5,000 | = | 0.0% |
| Non-recurring operating income | 76A | €2,500 | €186,339 | +€183,839 | +7,354% |
| Remuneration, social security and pensions | 62 | €54,396 | €59,419 | +€5,022 | +9.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,603 | €24,353 | +€750 | +3.2% |
| Other operating charges | 640/8 | €3,739 | €4,643 | +€904 | +24.2% |
| Gross operating margin | 9900 | €97,014 | €33,761 | -€63,253 | -65.2% |
| Operating profit (loss) | 9901 | €15,275 | -€54,654 | -€69,929 | |
| Financial income | 75/76B | €26,745 | €52,923 | +€26,178 | +97.9% |
| Recurring financial income | 75 | €26,745 | €52,923 | +€26,178 | +97.9% |
| Financial charges | 65/66B | €815 | €168 | -€648 | -79.4% |
| Recurring financial charges | 65 | €815 | €168 | -€648 | -79.4% |
| Profit (loss) for the period before taxes | 9903 | €41,204 | -€1,899 | -€43,103 | |
| Income taxes | 67/77 | €17,564 | -€2,427 | -€19,991 | |
| Profit (loss) for the period | 9904 | €23,640 | €527 | -€23,113 | -97.8% |
| Profit (loss) for the period to be appropriated | 9905 | €23,640 | €527 | -€23,113 | -97.8% |
Next steps
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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 6 November 2026 via checked.be.