BETRAIL: 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.
BETRAIL
Largest movements
- Cash +€22,842
up €22,842 (+9.5%), from €239,253 to €262,095
mainly Depreciation (+€7,582) and Tax, wage and social debts (+€5,359)
- Intangible fixed assets -€7,127
down €7,127 (-63.6%), from €11,200 to €4,073
- Receivables within one year -€4,610
down €4,610 (-21.5%), from €21,399 to €16,789
of which Trade receivables: -€4,298
- Tax, wage and social debts +€5,359
up €5,359 (+39.2%), from €13,671 to €19,030
of which Taxes: +€4,847
- Profit (loss) carried forward +€3,324
up €3,324 (+1.1%), from -€301,329 to -€298,004
- Gross operating margin -€4,795
down €4,795 (-5.8%), from €82,244 to €77,449
- Staff costs +€3,854
up €3,854 (+7.0%), from €54,860 to €58,714
- Depreciation -€2,400
down €2,400 (-24.0%), from €9,982 to €7,582
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 | €275,145 | €285,794 | +€10,649 | +3.9% |
| Formation expenses | 20 | €1,063 | €607 | -€455 | -42.9% |
| Fixed assets | 21/28 | €11,330 | €4,203 | -€7,127 | -62.9% |
| Intangible fixed assets | 21 | €11,200 | €4,073 | -€7,127 | -63.6% |
| Financial fixed assets | 28 | €130 | €130 | = | 0.0% |
| Current assets | 29/58 | €262,752 | €280,984 | +€18,232 | +6.9% |
| Stocks and contracts in progress | 3 | €2,100 | €2,100 | = | 0.0% |
| Stocks | 30/36 | €2,100 | €2,100 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €21,399 | €16,789 | -€4,610 | -21.5% |
| Trade receivables | 40 | €21,087 | €16,789 | -€4,298 | -20.4% |
| Other amounts receivable | 41 | €312 | €0 | -€312 | -100% |
| Cash at bank and in hand | 54/58 | €239,253 | €262,095 | +€22,842 | +9.5% |
| Total equity and liabilities | 10/49 | €275,145 | €285,794 | +€10,649 | +3.9% |
| Equity | 10/15 | €189,071 | €192,396 | +€3,324 | +1.8% |
| Contributions | 10/11 | €490,400 | €490,400 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€301,329 | -€298,004 | +€3,324 | +1.1% |
| Amounts payable | 17/49 | €86,074 | €93,399 | +€7,325 | +8.5% |
| Amounts payable within one year | 42/48 | €24,365 | €30,294 | +€5,929 | +24.3% |
| Trade debts | 44 | €10,694 | €11,264 | +€570 | +5.3% |
| Suppliers | 440/4 | €10,694 | €11,264 | +€570 | +5.3% |
| Taxes, remuneration and social security | 45 | €13,671 | €19,030 | +€5,359 | +39.2% |
| Taxes | 450/3 | €7,124 | €11,970 | +€4,847 | +68.0% |
| Remuneration and social security | 454/9 | €6,547 | €7,060 | +€513 | +7.8% |
| Accrued charges and deferred income | 492/3 | €61,709 | €63,104 | +€1,395 | +2.3% |
| Remuneration, social security and pensions | 62 | €54,860 | €58,714 | +€3,854 | +7.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,982 | €7,582 | -€2,400 | -24.0% |
| Other operating charges | 640/8 | €947 | €400 | -€547 | -57.8% |
| Gross operating margin | 9900 | €82,244 | €77,449 | -€4,795 | -5.8% |
| Operating profit (loss) | 9901 | €16,455 | €10,753 | -€5,702 | -34.7% |
| Financial charges | 65/66B | €7,821 | €7,429 | -€393 | -5.0% |
| Recurring financial charges | 65 | €7,821 | €7,429 | -€393 | -5.0% |
| Profit (loss) for the period before taxes | 9903 | €8,634 | €3,324 | -€5,309 | -61.5% |
| Profit (loss) for the period | 9904 | €8,634 | €3,324 | -€5,309 | -61.5% |
| Profit (loss) for the period to be appropriated | 9905 | €8,634 | €3,324 | -€5,309 | -61.5% |
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 28 October 2026 via checked.be.