BATI - MUST: 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.
BATI - MUST
Largest movements
- Cash +€151,639
up €151,639 (+619%), from €24,494 to €176,134
mainly Stocks and contracts (+€131,668) and Tax, wage and social debts (+€11,099)
- Stocks and contracts -€131,668
down €131,668 (-48.8%), from €270,000 to €138,332
of which Contracts in progress: -€135,000
- Receivables within one year -€8,148
down €8,148 (-61.9%), from €13,160 to €5,012
of which Trade receivables: -€7,958
- Tax, wage and social debts +€11,099
up €11,099 (+695%), from €1,596 to €12,695
of which Taxes: +€7,650
- Gross operating margin -€23,907
down €23,907 (-31.8%), from €75,139 to €51,232
- Staff costs +€18,433
up €18,433 (+69.6%), from €26,487 to €44,920
- Taxes -€11,109
down €11,109 (-94.0%), from €11,822 to €714
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 | €309,143 | €322,637 | +€13,494 | +4.4% |
| Fixed assets | 21/28 | €1,489 | €860 | -€628 | -42.2% |
| Tangible fixed assets | 22/27 | €1,291 | €186 | -€1,105 | -85.6% |
| Plant, machinery and equipment | 23 | €932 | €186 | -€746 | -80.1% |
| Furniture and vehicles | 24 | €359 | €0 | -€359 | -100% |
| Financial fixed assets | 28 | €198 | €675 | +€477 | +241% |
| Current assets | 29/58 | €307,654 | €321,776 | +€14,122 | +4.6% |
| Stocks and contracts in progress | 3 | €270,000 | €138,332 | -€131,668 | -48.8% |
| Stocks | 30/36 | - | €3,332 | +€3,332 | |
| Contracts in progress | 37 | €270,000 | €135,000 | -€135,000 | -50.0% |
| Amounts receivable within one year | 40/41 | €13,160 | €5,012 | -€8,148 | -61.9% |
| Trade receivables | 40 | €12,970 | €5,012 | -€7,958 | -61.4% |
| Other amounts receivable | 41 | €190 | €0 | -€190 | -100% |
| Cash at bank and in hand | 54/58 | €24,494 | €176,134 | +€151,639 | +619% |
| Deferred charges and accrued income | 490/1 | - | €2,299 | +€2,299 | |
| Total equity and liabilities | 10/49 | €309,143 | €322,637 | +€13,494 | +4.4% |
| Equity | 10/15 | €98,344 | €99,444 | +€1,100 | +1.1% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €34,059 | €34,059 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €32,200 | €32,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €45,693 | €46,792 | +€1,100 | +2.4% |
| Amounts payable | 17/49 | €210,799 | €223,193 | +€12,394 | +5.9% |
| Amounts payable within one year | 42/48 | €210,799 | €223,193 | +€12,394 | +5.9% |
| Trade debts | 44 | €4,156 | €3,415 | -€741 | -17.8% |
| Suppliers | 440/4 | €4,156 | €3,415 | -€741 | -17.8% |
| Taxes, remuneration and social security | 45 | €1,596 | €12,695 | +€11,099 | +695% |
| Taxes | 450/3 | €1,139 | €8,789 | +€7,650 | +671% |
| Remuneration and social security | 454/9 | €457 | €3,905 | +€3,449 | +755% |
| Other amounts payable | 47/48 | €205,047 | €207,084 | +€2,036 | +1.0% |
| Remuneration, social security and pensions | 62 | €26,487 | €44,920 | +€18,433 | +69.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,763 | €1,105 | -€658 | -37.3% |
| Other operating charges | 640/8 | €1,714 | €1,850 | +€136 | +7.9% |
| Gross operating margin | 9900 | €75,139 | €51,232 | -€23,907 | -31.8% |
| Operating profit (loss) | 9901 | €45,176 | €3,357 | -€41,819 | -92.6% |
| Financial income | 75/76B | €511 | €24 | -€487 | -95.3% |
| Recurring financial income | 75 | €511 | €24 | -€487 | -95.3% |
| Financial charges | 65/66B | €1,546 | €1,567 | +€21 | +1.4% |
| Recurring financial charges | 65 | €1,546 | €1,567 | +€21 | +1.4% |
| Profit (loss) for the period before taxes | 9903 | €44,141 | €1,814 | -€42,327 | -95.9% |
| Income taxes | 67/77 | €11,822 | €714 | -€11,109 | -94.0% |
| Profit (loss) for the period | 9904 | €32,318 | €1,100 | -€31,218 | -96.6% |
| Profit (loss) for the period to be appropriated | 9905 | €32,318 | €1,100 | -€31,218 | -96.6% |
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 18 October 2026 via checked.be.