BETRACO: what changed
BETRACO
Largest movements
- Current investments -€454,545
down €454,545 (-100%), from €454,545 to €0
- Cash +€163,555
up €163,555 (+16.1%), from €1.0m to €1.2m
mainly Current investments (+€454,545) and Trade debts (+€100,698)
- Receivables within one year +€144,281
up €144,281 (+14.5%), from €995,874 to €1.1m
of which Trade receivables: +€183,134
- Reserves -€191,151
down €191,151 (-26.6%), from €718,482 to €527,331
of which Distributable reserves: -€191,151
- Trade debts +€100,698
up €100,698 (+49.8%), from €202,137 to €302,835
- Provisions -€43,907
down €43,907 (-100%), from €43,907 to €0
- Other operating charges +€47,133
up €47,133 (+2,556%), from €1,844 to €48,977
- Provisions -€43,907
new in 2025: -€43,907
- Financial charges -€38,919
down €38,919 (-76.6%), from €50,823 to €11,904
- Financial income +€19,320
up €19,320 (+330%), from €5,851 to €25,171
- Gross operating margin -€18,082
down €18,082 (-8.2%), from €221,474 to €203,392
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,468,939 | €2,321,420 | -€147,519 | -6.0% |
| Fixed assets | 21/28 | €1,571 | €761 | -€810 | -51.6% |
| Tangible fixed assets | 22/27 | €1,571 | €761 | -€810 | -51.6% |
| Furniture and vehicles | 24 | €1,571 | €761 | -€810 | -51.6% |
| Current assets | 29/58 | €2,467,369 | €2,320,659 | -€146,709 | -5.9% |
| Amounts receivable within one year | 40/41 | €995,874 | €1,140,155 | +€144,281 | +14.5% |
| Trade receivables | 40 | €949,631 | €1,132,765 | +€183,134 | +19.3% |
| Other amounts receivable | 41 | €46,243 | €7,390 | -€38,852 | -84.0% |
| Current investments | 50/53 | €454,545 | €0 | -€454,545 | -100% |
| Cash at bank and in hand | 54/58 | €1,016,949 | €1,180,504 | +€163,555 | +16.1% |
| Total equity and liabilities | 10/49 | €2,468,939 | €2,321,420 | -€147,519 | -6.0% |
| Equity | 10/15 | €2,192,428 | €2,001,278 | -€191,151 | -8.7% |
| Contributions | 10/11 | €1,473,947 | €1,473,947 | = | 0.0% |
| Capital | 10 | €1,473,947 | €1,473,947 | = | 0.0% |
| Issued capital | 100 | €1,473,947 | €1,473,947 | = | 0.0% |
| Reserves | 13 | €718,482 | €527,331 | -€191,151 | -26.6% |
| Non-distributable reserves | 130/1 | €147,395 | €147,395 | = | 0.0% |
| Legal reserve | 130 | €147,395 | €147,395 | = | 0.0% |
| Distributable reserves | 133 | €571,087 | €379,936 | -€191,151 | -33.5% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Provisions and deferred taxes | 16 | €43,907 | €0 | -€43,907 | -100% |
| Provisions for liabilities and charges | 160/5 | €43,907 | €0 | -€43,907 | -100% |
| Other liabilities and charges | 164/5 | €43,907 | €0 | -€43,907 | -100% |
| Amounts payable | 17/49 | €232,604 | €320,143 | +€87,539 | +37.6% |
| Amounts payable within one year | 42/48 | €232,604 | €320,143 | +€87,539 | +37.6% |
| Trade debts | 44 | €202,137 | €302,835 | +€100,698 | +49.8% |
| Suppliers | 440/4 | €202,137 | €302,835 | +€100,698 | +49.8% |
| Taxes, remuneration and social security | 45 | €30,467 | €17,308 | -€13,159 | -43.2% |
| Remuneration and social security | 454/9 | €30,467 | €17,308 | -€13,159 | -43.2% |
| Remuneration, social security and pensions | 62 | €386,692 | €401,645 | +€14,953 | +3.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €810 | €810 | = | 0.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€461 | €0 | +€461 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | -€43,907 | -€43,907 | |
| Other operating charges | 640/8 | €1,844 | €48,977 | +€47,133 | +2,556% |
| Gross operating margin | 9900 | €221,474 | €203,392 | -€18,082 | -8.2% |
| Operating profit (loss) | 9901 | -€167,411 | -€204,132 | -€36,721 | -21.9% |
| Financial income | 75/76B | €5,851 | €25,171 | +€19,320 | +330% |
| Recurring financial income | 75 | €5,851 | €25,171 | +€19,320 | +330% |
| Financial charges | 65/66B | €50,823 | €11,904 | -€38,919 | -76.6% |
| Recurring financial charges | 65 | €50,823 | €11,904 | -€38,919 | -76.6% |
| Profit (loss) for the period before taxes | 9903 | -€212,383 | -€190,865 | +€21,518 | +10.1% |
| Income taxes | 67/77 | €272 | €286 | +€14 | +5.1% |
| Profit (loss) for the period | 9904 | -€212,655 | -€191,151 | +€21,505 | +10.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€212,655 | -€191,151 | +€21,505 | +10.1% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.