BETC: 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.
BETC
Largest movements
- Cash -€18,328
down €18,328 (-8.8%), from €207,790 to €189,463
mainly Contributions, distributions and other (-€94,000) and Current portion of long-term debt (-€20,000)
- Receivables within one year +€13,250
up €13,250 (+36.5%), from €36,273 to €49,522
of which Trade receivables: +€13,286
- Tangible fixed assets +€10,151
up €10,151 (+229.6%), from €4,422 to €14,572
of which Other tangible fixed assets: +€8,375
- Current investments +€7,200
up €7,200 (+17.1%), from €42,045 to €49,244
- Other debts +€69,855
up €69,855 (+60.6%), from €115,351 to €185,206
- Profit (loss) carried forward -€62,650
down €62,650 (-83.9%), from €74,701 to €12,051
- Provisions +€23,315
up €23,315 (+64.5%), from €36,143 to €59,458
- Current portion of long-term debt -€20,000
no longer reported in 2025 (was €20,000)
- Provisions +€18,515
up €18,515 (+385.8%), from €4,800 to €23,315
- Financial charges -€11,202
down €11,202 (-28.8%), from €38,836 to €27,634
- Gross operating margin -€5,696
down €5,696 (-5.4%), from €104,894 to €99,198
- Taxes -€2,831
down €2,831 (-15.9%), from €17,804 to €14,973
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 | €291,164 | €303,521 | +€12,357 | +4.2% |
| Fixed assets | 21/28 | €4,422 | €14,572 | +€10,151 | +229.6% |
| Tangible fixed assets | 22/27 | €4,422 | €14,572 | +€10,151 | +229.6% |
| Furniture and vehicles | 24 | €4,422 | €6,197 | +€1,776 | +40.2% |
| Other tangible fixed assets | 26 | - | €8,375 | +€8,375 | |
| Current assets | 29/58 | €286,742 | €288,949 | +€2,207 | +0.8% |
| Amounts receivable within one year | 40/41 | €36,273 | €49,522 | +€13,250 | +36.5% |
| Trade receivables | 40 | €25,910 | €39,195 | +€13,286 | +51.3% |
| Other amounts receivable | 41 | €10,363 | €10,327 | -€36 | -0.3% |
| Current investments | 50/53 | €42,045 | €49,244 | +€7,200 | +17.1% |
| Cash at bank and in hand | 54/58 | €207,790 | €189,463 | -€18,328 | -8.8% |
| Deferred charges and accrued income | 490/1 | €634 | €720 | +€85 | +13.4% |
| Total equity and liabilities | 10/49 | €291,164 | €303,521 | +€12,357 | +4.2% |
| Equity | 10/15 | €95,161 | €32,511 | -€62,650 | -65.8% |
| Contributions | 10/11 | €20,460 | €18,600 | -€1,860 | -9.1% |
| Reserves | 13 | - | €1,860 | +€1,860 | |
| Distributable reserves | 133 | - | €1,860 | +€1,860 | |
| Profit (loss) carried forward | 14 | €74,701 | €12,051 | -€62,650 | -83.9% |
| Provisions and deferred taxes | 16 | €36,143 | €59,458 | +€23,315 | +64.5% |
| Provisions for liabilities and charges | 160/5 | €36,143 | €59,458 | +€23,315 | +64.5% |
| Other liabilities and charges | 164/5 | €36,143 | €59,458 | +€23,315 | +64.5% |
| Amounts payable | 17/49 | €159,860 | €211,552 | +€51,692 | +32.3% |
| Amounts payable within one year | 42/48 | €159,860 | €211,552 | +€51,692 | +32.3% |
| Current portion of amounts payable after more than one year | 42 | €20,000 | - | -€20,000 | |
| Financial debts | 43 | €235 | €855 | +€621 | +264.7% |
| Credit institutions | 430/8 | €235 | €855 | +€621 | +264.7% |
| Trade debts | 44 | €2,264 | €470 | -€1,794 | -79.2% |
| Suppliers | 440/4 | €2,264 | €470 | -€1,794 | -79.2% |
| Taxes, remuneration and social security | 45 | €22,010 | €25,020 | +€3,011 | +13.7% |
| Taxes | 450/3 | €19,964 | €22,974 | +€3,011 | +15.1% |
| Remuneration and social security | 454/9 | €2,046 | €2,046 | = | 0.0% |
| Other amounts payable | 47/48 | €115,351 | €185,206 | +€69,855 | +60.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,444 | €1,654 | +€211 | +14.6% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €4,800 | €23,315 | +€18,515 | +385.8% |
| Other operating charges | 640/8 | €767 | €738 | -€29 | -3.8% |
| Gross operating margin | 9900 | €104,894 | €99,198 | -€5,696 | -5.4% |
| Operating profit (loss) | 9901 | €97,883 | €73,491 | -€24,393 | -24.9% |
| Financial income | 75/76B | €0 | €467 | +€467 | +2333950.0% |
| Recurring financial income | 75 | €0 | €467 | +€467 | +2333950.0% |
| Financial charges | 65/66B | €38,836 | €27,634 | -€11,202 | -28.8% |
| Recurring financial charges | 65 | €38,836 | €27,634 | -€11,202 | -28.8% |
| Profit (loss) for the period before taxes | 9903 | €59,047 | €46,323 | -€12,724 | -21.5% |
| Income taxes | 67/77 | €17,804 | €14,973 | -€2,831 | -15.9% |
| Profit (loss) for the period | 9904 | €41,243 | €31,350 | -€9,893 | -24.0% |
| Profit (loss) for the period to be appropriated | 9905 | €41,243 | €31,350 | -€9,893 | -24.0% |
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 11 October 2026 via checked.be.