BAT-INNOVATION: 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.
BAT-INNOVATION
Largest movements
- Stocks and contracts -€66,442
no longer reported in 2025 (was €66,442)
- Cash +€54,030
up €54,030 (+229%), from €23,556 to €77,586
mainly Stocks and contracts (+€66,442) and Depreciation (+€48,402)
- Tangible fixed assets -€28,810
down €28,810 (-17.7%), from €162,537 to €133,727
- Receivables within one year +€18,082
up €18,082 (+29.7%), from €60,906 to €78,988
of which Trade receivables: +€22,307
- Debts after one year -€25,450
down €25,450 (-30.1%), from €84,516 to €59,066
- Tax, wage and social debts -€7,933
down €7,933 (-47.8%), from €16,611 to €8,678
of which Remuneration and social security: -€7,933
- Reserves +€4,337
up €4,337 (+4.7%), from €92,117 to €96,454
of which Distributable reserves: +€4,337
- Trade debts +€3,349
up €3,349 (+19.5%), from €17,197 to €20,546
- Depreciation +€3,801
up €3,801 (+8.5%), from €44,601 to €48,402
- Staff costs +€3,028
up €3,028 (+8.0%), from €37,891 to €40,919
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.
Derived cash bridge
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 | €316,612 | €294,320 | -€22,292 | -7.0% |
| Fixed assets | 21/28 | €162,537 | €133,727 | -€28,810 | -17.7% |
| Tangible fixed assets | 22/27 | €162,537 | €133,727 | -€28,810 | -17.7% |
| Land and buildings | 22 | €14,161 | €11,122 | -€3,039 | -21.5% |
| Plant, machinery and equipment | 23 | €9,741 | €9,351 | -€390 | -4.0% |
| Furniture and vehicles | 24 | €87,753 | €75,272 | -€12,481 | -14.2% |
| Leasing and similar rights | 25 | €50,882 | €37,982 | -€12,900 | -25.4% |
| Current assets | 29/58 | €154,074 | €160,593 | +€6,518 | +4.2% |
| Stocks and contracts in progress | 3 | €66,442 | - | -€66,442 | |
| Stocks | 30/36 | €66,442 | - | -€66,442 | |
| Amounts receivable within one year | 40/41 | €60,906 | €78,988 | +€18,082 | +29.7% |
| Trade receivables | 40 | €44,700 | €67,006 | +€22,307 | +49.9% |
| Other amounts receivable | 41 | €16,206 | €11,982 | -€4,225 | -26.1% |
| Cash at bank and in hand | 54/58 | €23,556 | €77,586 | +€54,030 | +229% |
| Deferred charges and accrued income | 490/1 | €3,171 | €4,018 | +€848 | +26.7% |
| Total equity and liabilities | 10/49 | €316,612 | €294,320 | -€22,292 | -7.0% |
| Equity | 10/15 | €110,717 | €115,054 | +€4,337 | +3.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Contributions outside capital | 11 | €18,600 | €18,600 | = | 0.0% |
| Other | 1109/19 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €92,117 | €96,454 | +€4,337 | +4.7% |
| Tax-exempt reserves | 132 | €17,997 | €17,997 | = | 0.0% |
| Distributable reserves | 133 | €74,121 | €78,458 | +€4,337 | +5.9% |
| Amounts payable | 17/49 | €205,895 | €179,265 | -€26,629 | -12.9% |
| Amounts payable after more than one year | 17 | €84,516 | €59,066 | -€25,450 | -30.1% |
| Financial debts | 170/4 | €84,516 | €59,066 | -€25,450 | -30.1% |
| Amounts payable within one year | 42/48 | €117,143 | €114,255 | -€2,888 | -2.5% |
| Current portion of amounts payable after more than one year | 42 | €24,457 | €25,450 | +€994 | +4.1% |
| Trade debts | 44 | €17,197 | €20,546 | +€3,349 | +19.5% |
| Suppliers | 440/4 | €17,197 | €20,546 | +€3,349 | +19.5% |
| Taxes, remuneration and social security | 45 | €16,611 | €8,678 | -€7,933 | -47.8% |
| Taxes | 450/3 | €6,040 | €6,040 | = | 0.0% |
| Remuneration and social security | 454/9 | €10,572 | €2,639 | -€7,933 | -75.0% |
| Other amounts payable | 47/48 | €58,879 | €59,580 | +€701 | +1.2% |
| Accrued charges and deferred income | 492/3 | €4,235 | €5,945 | +€1,710 | +40.4% |
| Remuneration, social security and pensions | 62 | €37,891 | €40,919 | +€3,028 | +8.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,601 | €48,402 | +€3,801 | +8.5% |
| Other operating charges | 640/8 | €4,072 | €4,162 | +€90 | +2.2% |
| Gross operating margin | 9900 | €110,069 | €109,778 | -€291 | -0.3% |
| Operating profit (loss) | 9901 | €23,505 | €16,295 | -€7,210 | -30.7% |
| Financial income | 75/76B | - | €49 | +€49 | |
| Recurring financial income | 75 | - | €49 | +€49 | |
| Financial charges | 65/66B | €6,688 | €7,007 | +€319 | +4.8% |
| Recurring financial charges | 65 | €6,688 | €7,007 | +€319 | +4.8% |
| Profit (loss) for the period before taxes | 9903 | €16,817 | €9,337 | -€7,480 | -44.5% |
| Income taxes | 67/77 | €6,000 | €5,000 | -€1,000 | -16.7% |
| Profit (loss) for the period | 9904 | €10,818 | €4,337 | -€6,480 | -59.9% |
| Profit (loss) for the period to be appropriated | 9905 | €10,818 | €4,337 | -€6,480 | -59.9% |
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 15 October 2026 via checked.be.