Balti: 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.
Balti
Largest movements
- Cash -€690,551
down €690,551 (-19.8%), from €3.5m to €2.8m
mainly Contributions, distributions and other (-€4.4m) and Debts after one year (-€804,416)
- Stocks and contracts +€470,359
up €470,359 (+21.3%), from €2.2m to €2.7m
of which Stocks: +€467,859
- Tangible fixed assets -€248,402
down €248,402 (-27.9%), from €889,242 to €640,840
of which Furniture and vehicles: -€257,871
- Receivables within one year -€226,046
down €226,046 (-12.8%), from €1.8m to €1.5m
of which Other amounts receivable: -€407,612
- Profit (loss) carried forward -€1.8m
down €1.8m (-100.0%), from €1.8m to €0
- Other debts +€1.7m
up €1.7m (+61.7%), from €2.8m to €4.5m
- Debts after one year -€804,416
down €804,416 (-38.2%), from €2.1m to €1.3m
- Trade debts +€635,884
up €635,884 (+125.9%), from €505,051 to €1.1m
- Reserves -€626,247
down €626,247 (-41.7%), from €1.5m to €873,753
- Gross operating margin +€854,049
up €854,049 (+25.6%), from €3.3m to €4.2m
- Write-downs -€378,644
down €378,644 (-67.2%), from €563,487 to €184,843
- Provisions +€187,882
up €187,882, from -€142,439 to €45,443
- Staff costs +€130,818
up €130,818 (+10.5%), from €1.2m to €1.4m
- Other operating charges -€77,503
down €77,503 (-88.7%), from €87,358 to €9,855
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 | €10,057,458 | €9,272,516 | -€784,942 | -7.8% |
| Fixed assets | 21/28 | €1,248,339 | €949,432 | -€298,907 | -23.9% |
| Intangible fixed assets | 21 | €357,097 | €306,592 | -€50,505 | -14.1% |
| Tangible fixed assets | 22/27 | €889,242 | €640,840 | -€248,402 | -27.9% |
| Land and buildings | 22 | €0 | - | = | |
| Plant, machinery and equipment | 23 | €6,405 | €19,661 | +€13,256 | +206.9% |
| Furniture and vehicles | 24 | €585,776 | €327,906 | -€257,871 | -44.0% |
| Leasing and similar rights | 25 | €16,854 | €0 | -€16,854 | -100.0% |
| Other tangible fixed assets | 26 | €280,206 | €293,273 | +€13,067 | +4.7% |
| Financial fixed assets | 28 | €2,000 | €2,000 | = | 0.0% |
| Current assets | 29/58 | €8,809,118 | €8,323,083 | -€486,035 | -5.5% |
| Stocks and contracts in progress | 3 | €2,205,275 | €2,675,634 | +€470,359 | +21.3% |
| Stocks | 30/36 | €2,067,775 | €2,535,634 | +€467,859 | +22.6% |
| Contracts in progress | 37 | €137,500 | €140,000 | +€2,500 | +1.8% |
| Amounts receivable within one year | 40/41 | €1,767,695 | €1,541,650 | -€226,046 | -12.8% |
| Trade receivables | 40 | €1,342,695 | €1,524,262 | +€181,566 | +13.5% |
| Other amounts receivable | 41 | €425,000 | €17,388 | -€407,612 | -95.9% |
| Current investments | 50/53 | €1,349,865 | €1,299,785 | -€50,080 | -3.7% |
| Cash at bank and in hand | 54/58 | €3,486,283 | €2,795,732 | -€690,551 | -19.8% |
| Deferred charges and accrued income | 490/1 | - | €10,283 | +€10,283 | |
| Total equity and liabilities | 10/49 | €10,057,458 | €9,272,516 | -€784,942 | -7.8% |
| Equity | 10/15 | €3,351,014 | €897,753 | -€2.5m | -73.2% |
| Contributions | 10/11 | €24,000 | €24,000 | = | 0.0% |
| Reserves | 13 | €1,500,000 | €873,753 | -€626,247 | -41.7% |
| Distributable reserves | 133 | €1,500,000 | €873,753 | -€626,247 | -41.7% |
| Profit (loss) carried forward | 14 | €1,827,014 | €0 | -€1.8m | -100.0% |
| Provisions and deferred taxes | 16 | €55,959 | €101,401 | +€45,443 | +81.2% |
| Provisions for liabilities and charges | 160/5 | €55,959 | €101,401 | +€45,443 | +81.2% |
| Pensions and similar obligations | 160 | €0 | - | = | |
| Other liabilities and charges | 164/5 | €55,959 | €101,401 | +€45,443 | +81.2% |
| Amounts payable | 17/49 | €6,650,485 | €8,273,361 | +€1.6m | +24.4% |
| Amounts payable after more than one year | 17 | €2,105,164 | €1,300,748 | -€804,416 | -38.2% |
| Financial debts | 170/4 | €2,105,164 | €1,300,748 | -€804,416 | -38.2% |
| Amounts payable within one year | 42/48 | €4,545,321 | €6,960,606 | +€2.4m | +53.1% |
| Current portion of amounts payable after more than one year | 42 | €394,781 | €625,797 | +€231,016 | +58.5% |
| Trade debts | 44 | €505,051 | €1,140,935 | +€635,884 | +125.9% |
| Suppliers | 440/4 | €505,051 | €1,140,935 | +€635,884 | +125.9% |
| Advances received on contracts in progress | 46 | €165,486 | €0 | -€165,486 | -100.0% |
| Taxes, remuneration and social security | 45 | €689,363 | €680,893 | -€8,470 | -1.2% |
| Taxes | 450/3 | €531,381 | €159,203 | -€372,178 | -70.0% |
| Remuneration and social security | 454/9 | €157,982 | €521,690 | +€363,708 | +230.2% |
| Other amounts payable | 47/48 | €2,790,640 | €4,512,981 | +€1.7m | +61.7% |
| Accrued charges and deferred income | 492/3 | - | €12,007 | +€12,007 | |
| Remuneration, social security and pensions | 62 | €1,242,545 | €1,373,363 | +€130,818 | +10.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €354,821 | €353,120 | -€1,701 | -0.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €563,487 | €184,843 | -€378,644 | -67.2% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€142,439 | €45,443 | +€187,882 | |
| Other operating charges | 640/8 | €87,358 | €9,855 | -€77,503 | -88.7% |
| Gross operating margin | 9900 | €3,334,614 | €4,188,663 | +€854,049 | +25.6% |
| Operating profit (loss) | 9901 | €1,228,842 | €2,222,040 | +€993,197 | +80.8% |
| Financial income | 75/76B | €108,812 | €61,298 | -€47,514 | -43.7% |
| Recurring financial income | 75 | €108,812 | €61,298 | -€47,514 | -43.7% |
| Financial charges | 65/66B | €74,004 | €133,190 | +€59,186 | +80.0% |
| Recurring financial charges | 65 | €74,004 | €133,190 | +€59,186 | +80.0% |
| Profit (loss) for the period before taxes | 9903 | €1,263,649 | €2,150,147 | +€886,498 | +70.2% |
| Income taxes | 67/77 | €141,124 | €203,409 | +€62,285 | +44.1% |
| Profit (loss) for the period | 9904 | €1,122,526 | €1,946,739 | +€824,213 | +73.4% |
| Profit (loss) for the period to be appropriated | 9905 | €1,122,526 | €1,946,739 | +€824,213 | +73.4% |
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 5 October 2026 via checked.be.