BALTIM: 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.
BALTIM
Largest movements
- Tangible fixed assets -€16,575
down €16,575 (-7.4%), from €224,250 to €207,675
- Reserves -€165,750
no longer reported in 2025 (was €165,750)
- Profit (loss) carried forward +€165,028
up €165,028, from -€152,163 to €12,865
- Revaluation surpluses -€16,575
down €16,575 (-7.4%), from €224,250 to €207,675
- Gross operating margin +€5,452
up €5,452 (+85.9%), from €6,347 to €11,798
- Financial charges -€3,700
down €3,700 (-33.2%), from €11,160 to €7,460
- Write-downs +€2,781
new in 2025: €2,781
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 | €992,959 | €978,904 | -€14,055 | -1.4% |
| Fixed assets | 21/28 | €824,250 | €807,675 | -€16,575 | -2.0% |
| Tangible fixed assets | 22/27 | €224,250 | €207,675 | -€16,575 | -7.4% |
| Land and buildings | 22 | €224,250 | €207,675 | -€16,575 | -7.4% |
| Financial fixed assets | 28 | €600,000 | €600,000 | = | 0.0% |
| Current assets | 29/58 | €168,709 | €171,229 | +€2,520 | +1.5% |
| Amounts receivable within one year | 40/41 | €167,169 | €164,883 | -€2,286 | -1.4% |
| Other amounts receivable | 41 | €167,169 | €164,883 | -€2,286 | -1.4% |
| Cash at bank and in hand | 54/58 | €1,541 | €1,550 | +€9 | +0.6% |
| Deferred charges and accrued income | 490/1 | - | €4,796 | +€4,796 | |
| Total equity and liabilities | 10/49 | €992,959 | €978,904 | -€14,055 | -1.4% |
| Equity | 10/15 | €845,104 | €827,807 | -€17,297 | -2.0% |
| Contributions | 10/11 | €607,267 | €607,267 | = | 0.0% |
| Revaluation surpluses | 12 | €224,250 | €207,675 | -€16,575 | -7.4% |
| Reserves | 13 | €165,750 | - | -€165,750 | |
| Distributable reserves | 133 | €165,750 | - | -€165,750 | |
| Profit (loss) carried forward | 14 | -€152,163 | €12,865 | +€165,028 | |
| Amounts payable | 17/49 | €147,856 | €151,098 | +€3,242 | +2.2% |
| Amounts payable within one year | 42/48 | €147,856 | €151,098 | +€3,242 | +2.2% |
| Financial debts | 43 | €145,168 | €145,000 | -€168 | -0.1% |
| Credit institutions | 430/8 | €145,168 | €145,000 | -€168 | -0.1% |
| Trade debts | 44 | €2,687 | €6,098 | +€3,410 | +126.9% |
| Suppliers | 440/4 | €2,687 | €6,098 | +€3,410 | +126.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,575 | €16,575 | = | 0.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €2,781 | +€2,781 | |
| Other operating charges | 640/8 | €2,231 | €2,280 | +€49 | +2.2% |
| Gross operating margin | 9900 | €6,347 | €11,798 | +€5,452 | +85.9% |
| Operating profit (loss) | 9901 | -€12,459 | -€9,837 | +€2,622 | +21.0% |
| Financial charges | 65/66B | €11,160 | €7,460 | -€3,700 | -33.2% |
| Recurring financial charges | 65 | €11,160 | €7,460 | -€3,700 | -33.2% |
| Profit (loss) for the period before taxes | 9903 | -€23,619 | -€17,297 | +€6,322 | +26.8% |
| Profit (loss) for the period | 9904 | -€23,619 | -€17,297 | +€6,322 | +26.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€23,619 | -€17,297 | +€6,322 | +26.8% |
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.