B.T.M.: 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.M.
Largest movements
- Cash +€202,275
up €202,275 (+387.8%), from €52,166 to €254,440
mainly Net result for the year (+€154,285) and Tax, wage and social debts (+€55,088)
- Receivables within one year +€9,680
new in 2025: €9,680
- Profit (loss) carried forward +€154,285
up €154,285 (+466.5%), from €33,076 to €187,362
- Tax, wage and social debts +€55,088
up €55,088 (+370.5%), from €14,869 to €69,957
of which Taxes: +€53,088
- Gross operating margin +€173,131
up €173,131 (+620.3%), from €27,910 to €201,041
- Taxes +€39,852
up €39,852 (+691.8%), from €5,760 to €45,612
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 | €54,689 | €266,253 | +€211,564 | +386.9% |
| Fixed assets | 21/28 | €1,390 | €923 | -€467 | -33.6% |
| Tangible fixed assets | 22/27 | €1,390 | €923 | -€467 | -33.6% |
| Furniture and vehicles | 24 | €1,390 | €923 | -€467 | -33.6% |
| Current assets | 29/58 | €53,299 | €265,329 | +€212,031 | +397.8% |
| Amounts receivable within one year | 40/41 | - | €9,680 | +€9,680 | |
| Trade receivables | 40 | - | €9,680 | +€9,680 | |
| Cash at bank and in hand | 54/58 | €52,166 | €254,440 | +€202,275 | +387.8% |
| Deferred charges and accrued income | 490/1 | €1,133 | €1,209 | +€76 | +6.7% |
| Total equity and liabilities | 10/49 | €54,689 | €266,253 | +€211,564 | +386.9% |
| Equity | 10/15 | €36,076 | €190,362 | +€154,285 | +427.7% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €33,076 | €187,362 | +€154,285 | +466.5% |
| Amounts payable | 17/49 | €18,613 | €75,891 | +€57,279 | +307.7% |
| Amounts payable within one year | 42/48 | €18,613 | €75,891 | +€57,279 | +307.7% |
| Trade debts | 44 | €212 | €346 | +€134 | +63.1% |
| Suppliers | 440/4 | €212 | €346 | +€134 | +63.1% |
| Taxes, remuneration and social security | 45 | €14,869 | €69,957 | +€55,088 | +370.5% |
| Taxes | 450/3 | €14,869 | €67,957 | +€53,088 | +357.0% |
| Remuneration and social security | 454/9 | - | €2,000 | +€2,000 | |
| Other amounts payable | 47/48 | €3,531 | €5,588 | +€2,057 | +58.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10 | €467 | +€457 | +4476.6% |
| Other operating charges | 640/8 | €567 | €523 | -€44 | -7.8% |
| Gross operating margin | 9900 | €27,910 | €201,041 | +€173,131 | +620.3% |
| Operating profit (loss) | 9901 | €27,333 | €200,052 | +€172,718 | +631.9% |
| Financial income | 75/76B | - | €46 | +€46 | |
| Recurring financial income | 75 | - | €46 | +€46 | |
| Financial charges | 65/66B | €194 | €199 | +€5 | +2.6% |
| Recurring financial charges | 65 | €194 | €199 | +€5 | +2.6% |
| Profit (loss) for the period before taxes | 9903 | €27,139 | €199,898 | +€172,759 | +636.6% |
| Income taxes | 67/77 | €5,760 | €45,612 | +€39,852 | +691.8% |
| Profit (loss) for the period | 9904 | €21,379 | €154,285 | +€132,907 | +621.7% |
| Profit (loss) for the period to be appropriated | 9905 | €21,379 | €154,285 | +€132,907 | +621.7% |
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 9 October 2026 via checked.be.