BA BTS: 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.
What changed
BA BTS
NACE 79.110, Travel agency activities
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€223,631
2024 · €176,119+€47,512
Equity
€1.5m
2024 · €1.4m+€73,631
Cash
€2.1m
2024 · €2.0m+€154,694
Balance sheet total
€3.8m
2024 · €4.6m-€839,029
Largest movements
Assets
- Receivables within one year -€1.0m
down €1.0m (-38.0%), from €2.7m to €1.6m
of which Trade receivables: -€948,584
- Cash +€154,694
up €154,694 (+7.9%), from €2.0m to €2.1m
mainly Receivables within one year (+€1.0m) and Net result for the year (+€223,631)
Equity and liabilities
- Trade debts -€962,112
down €962,112 (-31.2%), from €3.1m to €2.1m
- Other debts +€74,195
new in 2025: €74,195
- Profit (loss) carried forward +€73,631
up €73,631 (+22.4%), from €329,200 to €402,831
Income statement
- Turnover -€37.7m
no longer reported in 2025 (was €37.7m)
- Goods and materials -€36.5m
no longer reported in 2025 (was €36.5m)
- Gross operating margin +€796,834
new in 2025: €796,834
- Services and other goods -€656,317
no longer reported in 2025 (was €656,317)
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.
Result 2024
€176,119
Turnover
-€37.7m
Other operating income
-€226,444
Goods and materials
+€36.5m
Services and other goods
+€656,317
Staff costs
-€57,937
Other operating charges
-€9,707
Other operating items
+€796,834
Financial income
+€81,193
Financial charges
-€9,918
Taxes
+€15,378
Result 2025
€223,631
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.
From operations
+€313,135
Investment
€0
Financing
-€158,441
Cash 2024
€2.0m
From operations (derived)
+€313,135
Net result for the year
+€223,631
Receivables within one year
+€1.0m
Deferred charges and accrued income
-€14,369
Trade debts
-€962,112
Tax, wage and social debts
+€125
Other debts
+€74,195
Accrued charges and deferred income
-€16,427
Financing
-€158,441
Short-term financial debts
-€8,441
Contributions, distributions and other
-€150,000
Cash 2025
€2.1m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,611,311 | €3,772,282 | -€839,029 | -18.2% |
| Fixed assets | 21/28 | - | €0 | = | |
| Financial fixed assets | 28 | - | €0 | = | |
| Current assets | 29/58 | €4,611,311 | €3,772,282 | -€839,029 | -18.2% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €2,654,310 | €1,646,219 | -€1.0m | -38.0% |
| Trade receivables | 40 | €2,172,201 | €1,223,617 | -€948,584 | -43.7% |
| Other amounts receivable | 41 | €482,109 | €422,602 | -€59,507 | -12.3% |
| Cash at bank and in hand | 54/58 | €1,957,001 | €2,111,695 | +€154,694 | +7.9% |
| Deferred charges and accrued income | 490/1 | - | €14,369 | +€14,369 | |
| Total equity and liabilities | 10/49 | €4,611,311 | €3,772,282 | -€839,029 | -18.2% |
| Equity | 10/15 | €1,420,400 | €1,494,031 | +€73,631 | +5.2% |
| Contributions | 10/11 | €992,000 | €992,000 | = | 0.0% |
| Capital | 10 | €992,000 | €992,000 | = | 0.0% |
| Issued capital | 100 | €992,000 | €992,000 | = | 0.0% |
| Reserves | 13 | €99,200 | €99,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €99,200 | €99,200 | = | 0.0% |
| Legal reserve | 130 | €99,200 | €99,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €329,200 | €402,831 | +€73,631 | +22.4% |
| Amounts payable | 17/49 | €3,190,911 | €2,278,251 | -€912,660 | -28.6% |
| Amounts payable within one year | 42/48 | €3,171,984 | €2,275,751 | -€896,233 | -28.3% |
| Current portion of amounts payable after more than one year | 42 | €30,000 | €30,000 | = | 0.0% |
| Financial debts | 43 | €8,441 | - | -€8,441 | |
| Credit institutions | 430/8 | €8,441 | - | -€8,441 | |
| Trade debts | 44 | €3,081,868 | €2,119,757 | -€962,112 | -31.2% |
| Suppliers | 440/4 | €3,081,868 | €2,119,757 | -€962,112 | -31.2% |
| Taxes, remuneration and social security | 45 | €51,674 | €51,799 | +€125 | +0.2% |
| Taxes | 450/3 | €2,613 | €0 | -€2,613 | -100.0% |
| Remuneration and social security | 454/9 | €49,061 | €51,799 | +€2,739 | +5.6% |
| Other amounts payable | 47/48 | - | €74,195 | +€74,195 | |
| Accrued charges and deferred income | 492/3 | €18,927 | €2,500 | -€16,427 | -86.8% |
| Operating income | 70/76A | €37,914,505 | - | -€37.9m | |
| Turnover | 70 | €37,688,062 | - | -€37.7m | |
| Other operating income | 74 | €226,444 | - | -€226,444 | |
| Operating charges | 60/66A | €37,594,089 | - | -€37.6m | |
| Goods for resale, raw materials and consumables | 60 | €36,489,858 | - | -€36.5m | |
| Purchases | 600/8 | €36,489,858 | - | -€36.5m | |
| Services and other goods | 61 | €656,317 | - | -€656,317 | |
| Remuneration, social security and pensions | 62 | €443,712 | €501,649 | +€57,937 | +13.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €0 | - | = | |
| Other operating charges | 640/8 | €4,203 | €13,911 | +€9,707 | +231.0% |
| Gross operating margin | 9900 | - | €796,834 | +€796,834 | |
| Operating profit (loss) | 9901 | €320,416 | €281,275 | -€39,142 | -12.2% |
| Financial income | 75/76B | €11,698 | €92,891 | +€81,193 | +694.1% |
| Recurring financial income | 75 | €11,698 | €92,891 | +€81,193 | +694.1% |
| Income from financial fixed assets | 750 | €0 | - | = | |
| Income from current assets | 751 | €6,855 | - | -€6,855 | |
| Other financial income | 752/9 | €4,843 | - | -€4,843 | |
| Financial charges | 65/66B | €75,726 | €85,643 | +€9,918 | +13.1% |
| Recurring financial charges | 65 | €75,726 | €85,643 | +€9,918 | +13.1% |
| Debt charges | 650 | €6,189 | - | -€6,189 | |
| Other financial charges | 652/9 | €69,537 | - | -€69,537 | |
| Profit (loss) for the period before taxes | 9903 | €256,389 | €288,523 | +€32,134 | +12.5% |
| Income taxes | 67/77 | €80,270 | €64,892 | -€15,378 | -19.2% |
| Taxes | 670/3 | €80,270 | - | -€80,270 | |
| Profit (loss) for the period | 9904 | €176,119 | €223,631 | +€47,512 | +27.0% |
| Profit (loss) for the period to be appropriated | 9905 | €176,119 | €223,631 | +€47,512 | +27.0% |
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 7 October 2026 via checked.be.