BETUL-ES: 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.
BETUL-ES
Largest movements
- Receivables within one year +€64,530
up €64,530 (+2462.1%), from €2,621 to €67,151
- Tangible fixed assets +€50,712
up €50,712 (+243.5%), from €20,828 to €71,541
of which Other tangible fixed assets: +€52,554
- Deferred charges and accrued income +€10,506
up €10,506 (+1692.4%), from €621 to €11,127
- Intangible fixed assets -€7,000
down €7,000 (-11.7%), from €59,932 to €52,932
- Cash +€5,496
up €5,496 (+534.1%), from €1,029 to €6,526
mainly Other debts (+€60,611) and Tax, wage and social debts (+€46,091)
- Other debts +€60,611
up €60,611 (+736.3%), from €8,232 to €68,843
- Tax, wage and social debts +€46,091
up €46,091 (+123.6%), from €37,293 to €83,385
of which Remuneration and social security: +€24,125
- Debts after one year +€31,356
new in 2025: €31,356
- Profit (loss) carried forward -€28,639
down €28,639, from €19,089 to -€9,549
- Current portion of long-term debt +€7,434
new in 2025: €7,434
- Gross operating margin -€24,259
down €24,259 (-21.6%), from €112,186 to €87,926
- Depreciation +€14,864
up €14,864 (+195.0%), from €7,625 to €22,489
- Staff costs +€10,548
up €10,548 (+12.9%), from €81,488 to €92,035
- Taxes -€4,343
no longer reported in 2025 (was €4,343)
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 | €85,031 | €209,275 | +€124,244 | +146.1% |
| Fixed assets | 21/28 | €80,760 | €124,472 | +€43,712 | +54.1% |
| Intangible fixed assets | 21 | €59,932 | €52,932 | -€7,000 | -11.7% |
| Tangible fixed assets | 22/27 | €20,828 | €71,541 | +€50,712 | +243.5% |
| Furniture and vehicles | 24 | €5,960 | €4,118 | -€1,841 | -30.9% |
| Other tangible fixed assets | 26 | €14,869 | €67,422 | +€52,554 | +353.4% |
| Current assets | 29/58 | €4,271 | €84,803 | +€80,532 | +1885.6% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Stocks | 30/36 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €2,621 | €67,151 | +€64,530 | +2462.1% |
| Other amounts receivable | 41 | €2,621 | €67,151 | +€64,530 | +2462.1% |
| Cash at bank and in hand | 54/58 | €1,029 | €6,526 | +€5,496 | +534.1% |
| Deferred charges and accrued income | 490/1 | €621 | €11,127 | +€10,506 | +1692.4% |
| Total equity and liabilities | 10/49 | €85,031 | €209,275 | +€124,244 | +146.1% |
| Equity | 10/15 | €20,589 | -€8,049 | -€28,639 | |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €19,089 | -€9,549 | -€28,639 | |
| Amounts payable | 17/49 | €64,441 | €217,324 | +€152,883 | +237.2% |
| Amounts payable after more than one year | 17 | - | €31,356 | +€31,356 | |
| Financial debts | 170/4 | - | €31,356 | +€31,356 | |
| Amounts payable within one year | 42/48 | €64,441 | €185,969 | +€121,527 | +188.6% |
| Current portion of amounts payable after more than one year | 42 | - | €7,434 | +€7,434 | |
| Trade debts | 44 | €18,916 | €26,308 | +€7,391 | +39.1% |
| Suppliers | 440/4 | €18,916 | €26,308 | +€7,391 | +39.1% |
| Taxes, remuneration and social security | 45 | €37,293 | €83,385 | +€46,091 | +123.6% |
| Taxes | 450/3 | €17,098 | €39,064 | +€21,966 | +128.5% |
| Remuneration and social security | 454/9 | €20,196 | €44,321 | +€24,125 | +119.5% |
| Other amounts payable | 47/48 | €8,232 | €68,843 | +€60,611 | +736.3% |
| Remuneration, social security and pensions | 62 | €81,488 | €92,035 | +€10,548 | +12.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,625 | €22,489 | +€14,864 | +195.0% |
| Other operating charges | 640/8 | €1,847 | €1,393 | -€454 | -24.6% |
| Gross operating margin | 9900 | €112,186 | €87,926 | -€24,259 | -21.6% |
| Operating profit (loss) | 9901 | €21,226 | -€27,990 | -€49,217 | |
| Financial charges | 65/66B | €406 | €648 | +€243 | +59.8% |
| Recurring financial charges | 65 | €406 | €648 | +€243 | +59.8% |
| Profit (loss) for the period before taxes | 9903 | €20,821 | -€28,639 | -€49,459 | |
| Income taxes | 67/77 | €4,343 | - | -€4,343 | |
| Profit (loss) for the period | 9904 | €16,478 | -€28,639 | -€45,117 | |
| Profit (loss) for the period to be appropriated | 9905 | €16,478 | -€28,639 | -€45,117 |
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 4 October 2026 via checked.be.