BATOPIN: 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
BATOPIN
NACE 66.199, Other activities auxiliary to financial services, excluding insurance and pension funding
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€12.2m
2024 · €933,654+€11.3m
Equity
€44.6m
2024 · €32.4m+€12.2m
Cash
€22.8m
2024 · €19.3m+€3.5m
Balance sheet total
€247.7m
2024 · €185.8m+€61.9m
Largest movements
Assets
- Tangible fixed assets +€28.5m
up €28.5m (+31.4%), from €90.6m to €119.1m
of which Other tangible fixed assets: +€24.6m
- Receivables within one year +€24.8m
up €24.8m (+37.9%), from €65.5m to €90.3m
of which Other amounts receivable: +€20.7m
- Deferred charges and accrued income +€4.0m
up €4.0m (+43.8%), from €9.1m to €13.1m
- Cash +€3.5m
up €3.5m (+18.2%), from €19.3m to €22.8m
mainly Debts after one year (+€25.6m) and Other debts (+€21.0m)
Equity and liabilities
- Debts after one year +€25.6m
up €25.6m (+36.1%), from €70.9m to €96.4m
- Other debts +€21.0m
up €21.0m (+37.6%), from €55.8m to €76.8m
- Profit (loss) carried forward +€12.2m
up €12.2m (+47.6%), from -€25.6m to -€13.4m
Income statement
- Turnover +€39.6m
up €39.6m (+52.5%), from €75.4m to €115.0m
- Goods and materials +€12.8m
up €12.8m (+40.2%), from €31.9m to €44.8m
- Depreciation +€5.4m
up €5.4m (+50.3%), from €10.7m to €16.2m
- Services and other goods +€5.1m
up €5.1m (+23.9%), from €21.3m to €26.4m
- Other operating charges +€1.9m
up €1.9m (+54.4%), from €3.5m to €5.4m
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
€933,654
Turnover
+€39.6m
Other operating income
+€60,141
Goods and materials
-€12.8m
Services and other goods
-€5.1m
Staff costs
-€1.0m
Depreciation
-€5.4m
Other operating charges
-€1.9m
Other operating items
-€158,090
Financial income
-€362,778
Financial charges
-€200,333
Taxes
-€1.4m
Result 2025
€12.2m
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
+€23.7m
Investment
-€45.7m
Financing
+€25.6m
Cash 2024
€19.3m
From operations (derived)
+€23.7m
Net result for the year
+€12.2m
Depreciation
+€16.2m
Receivables within one year
-€24.8m
Deferred charges and accrued income
-€4.0m
Provisions
+€71,498
Trade debts
+€2.2m
Tax, wage and social debts
+€458,585
Other debts
+€21.0m
Accrued charges and deferred income
+€355,852
Investment (derived)
-€45.7m
Investment in fixed assets (net)
-€45.7m
Financing
+€25.6m
Debts after one year
+€25.6m
Current portion of long-term debt
-€2
Cash 2025
€22.8m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €185,798,577 | €247,679,944 | +€61.9m | +33.3% |
| Formation expenses | 20 | €4,934 | €2,801 | -€2,133 | -43.2% |
| Fixed assets | 21/28 | €91,981,481 | €121,561,260 | +€29.6m | +32.2% |
| Intangible fixed assets | 21 | €1,373,095 | €2,431,826 | +€1.1m | +77.1% |
| Tangible fixed assets | 22/27 | €90,604,836 | €119,071,661 | +€28.5m | +31.4% |
| Plant, machinery and equipment | 23 | €20,236,155 | €21,983,013 | +€1.7m | +8.6% |
| Furniture and vehicles | 24 | €376,560 | €590,123 | +€213,563 | +56.7% |
| Other tangible fixed assets | 26 | €69,992,121 | €94,588,143 | +€24.6m | +35.1% |
| Assets under construction and advance payments | 27 | - | €1,910,383 | +€1.9m | |
| Financial fixed assets | 28 | €3,550 | €57,773 | +€54,223 | +1527.4% |
| Other financial fixed assets | 284/8 | €3,550 | €57,773 | +€54,223 | +1527.4% |
| Amounts receivable and cash guarantees | 285/8 | €3,550 | €57,773 | +€54,223 | +1527.4% |
| Current assets | 29/58 | €93,812,161 | €126,115,882 | +€32.3m | +34.4% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €65,456,759 | €90,272,696 | +€24.8m | +37.9% |
| Trade receivables | 40 | €10,039,728 | €14,168,447 | +€4.1m | +41.1% |
| Other amounts receivable | 41 | €55,417,031 | €76,104,249 | +€20.7m | +37.3% |
| Cash at bank and in hand | 54/58 | €19,276,949 | €22,787,299 | +€3.5m | +18.2% |
| Deferred charges and accrued income | 490/1 | €9,078,453 | €13,055,888 | +€4.0m | +43.8% |
| Total equity and liabilities | 10/49 | €185,798,577 | €247,679,944 | +€61.9m | +33.3% |
| Equity | 10/15 | €32,383,305 | €44,582,446 | +€12.2m | +37.7% |
| Contributions | 10/11 | €58,000,000 | €58,000,000 | = | 0.0% |
| Capital | 10 | €58,000,000 | €58,000,000 | = | 0.0% |
| Issued capital | 100 | €58,000,000 | €58,000,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€25,616,695 | -€13,417,554 | +€12.2m | +47.6% |
| Provisions and deferred taxes | 16 | - | €71,498 | +€71,498 | |
| Provisions for liabilities and charges | 160/5 | - | €71,498 | +€71,498 | |
| Pensions and similar obligations | 160 | - | €71,498 | +€71,498 | |
| Amounts payable | 17/49 | €153,415,272 | €203,025,999 | +€49.6m | +32.3% |
| Amounts payable after more than one year | 17 | €70,857,142 | €96,428,570 | +€25.6m | +36.1% |
| Financial debts | 170/4 | €70,857,142 | €96,428,570 | +€25.6m | +36.1% |
| Credit institutions | 173 | €70,857,142 | €96,428,570 | +€25.6m | +36.1% |
| Amounts payable within one year | 42/48 | €82,051,636 | €105,735,084 | +€23.7m | +28.9% |
| Current portion of amounts payable after more than one year | 42 | €11,428,574 | €11,428,572 | -€2 | 0.0% |
| Trade debts | 44 | €14,488,268 | €16,715,276 | +€2.2m | +15.4% |
| Suppliers | 440/4 | €14,488,268 | €16,715,276 | +€2.2m | +15.4% |
| Taxes, remuneration and social security | 45 | €304,970 | €763,555 | +€458,585 | +150.4% |
| Taxes | 450/3 | €71,650 | €290,449 | +€218,799 | +305.4% |
| Remuneration and social security | 454/9 | €233,320 | €473,106 | +€239,785 | +102.8% |
| Other amounts payable | 47/48 | €55,829,825 | €76,827,681 | +€21.0m | +37.6% |
| Accrued charges and deferred income | 492/3 | €506,494 | €862,345 | +€355,852 | +70.3% |
| Operating income | 70/76A | €75,817,881 | €115,594,496 | +€39.8m | +52.5% |
| Turnover | 70 | €75,413,845 | €114,991,394 | +€39.6m | +52.5% |
| Other operating income | 74 | €303,443 | €363,584 | +€60,141 | +19.8% |
| Non-recurring operating income | 76A | €100,592 | €239,518 | +€138,926 | +138.1% |
| Operating charges | 60/66A | €70,015,166 | €96,577,175 | +€26.6m | +37.9% |
| Goods for resale, raw materials and consumables | 60 | €31,922,552 | €44,771,036 | +€12.8m | +40.2% |
| Purchases | 600/8 | €31,922,552 | €44,771,036 | +€12.8m | +40.2% |
| Services and other goods | 61 | €21,316,238 | €26,405,324 | +€5.1m | +23.9% |
| Remuneration, social security and pensions | 62 | €2,480,016 | €3,516,049 | +€1.0m | +41.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,748,036 | €16,153,722 | +€5.4m | +50.3% |
| Other operating charges | 640/8 | €3,466,968 | €5,352,672 | +€1.9m | +54.4% |
| Non-recurring operating charges | 66A | €81,355 | €378,371 | +€297,016 | +365.1% |
| Operating profit (loss) | 9901 | €5,802,715 | €19,017,321 | +€13.2m | +227.7% |
| Financial income | 75/76B | €2,327,076 | €1,964,298 | -€362,778 | -15.6% |
| Recurring financial income | 75 | €2,327,076 | €1,964,298 | -€362,778 | -15.6% |
| Other financial income | 752/9 | €2,327,076 | €1,964,298 | -€362,778 | -15.6% |
| Financial charges | 65/66B | €7,191,709 | €7,392,042 | +€200,333 | +2.8% |
| Recurring financial charges | 65 | €7,191,709 | €7,392,042 | +€200,333 | +2.8% |
| Debt charges | 650 | €4,731,485 | €4,276,799 | -€454,686 | -9.6% |
| Other financial charges | 652/9 | €2,460,224 | €3,115,243 | +€655,019 | +26.6% |
| Profit (loss) for the period before taxes | 9903 | €938,082 | €13,589,577 | +€12.7m | +1348.7% |
| Income taxes | 67/77 | €4,428 | €1,390,436 | +€1.4m | +31302.0% |
| Taxes | 670/3 | €4,428 | €1,390,436 | +€1.4m | +31302.0% |
| Profit (loss) for the period | 9904 | €933,654 | €12,199,142 | +€11.3m | +1206.6% |
| Profit (loss) for the period to be appropriated | 9905 | €933,654 | €12,199,142 | +€11.3m | +1206.6% |
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 3 October 2026 via checked.be.