Betulla: 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.
Betulla
Largest movements
- Financial fixed assets +€82,124
up €82,124 (+4.6%), from €1.8m to €1.9m
- Tangible fixed assets -€30,026
down €30,026 (-5.8%), from €518,449 to €488,423
of which Land and buildings: -€24,375
- Debts after one year -€270,827
down €270,827 (-19.2%), from €1.4m to €1.1m
of which Financial debts: -€270,827
- Reserves +€227,412
up €227,412 (+32.0%), from €710,029 to €937,442
- Other debts +€88,762
up €88,762 (+740.7%), from €11,983 to €100,746
- Other operating charges -€62,290
down €62,290 (-97.6%), from €63,853 to €1,563
- Financial income -€50,000
down €50,000 (-20.8%), from €240,000 to €190,000
- Gross operating margin -€49,140
down €49,140 (-22.4%), from €219,550 to €170,410
- Depreciation +€13,175
up €13,175 (+78.2%), from €16,851 to €30,026
- Financial charges +€2,262
up €2,262 (+4.0%), from €55,885 to €58,147
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 | €2,337,752 | €2,392,350 | +€54,598 | +2.3% |
| Fixed assets | 21/28 | €2,319,599 | €2,371,697 | +€52,099 | +2.2% |
| Tangible fixed assets | 22/27 | €518,449 | €488,423 | -€30,026 | -5.8% |
| Land and buildings | 22 | €474,411 | €450,036 | -€24,375 | -5.1% |
| Plant, machinery and equipment | 23 | €40,705 | €36,079 | -€4,626 | -11.4% |
| Furniture and vehicles | 24 | €3,333 | €2,308 | -€1,025 | -30.7% |
| Financial fixed assets | 28 | €1,801,150 | €1,883,274 | +€82,124 | +4.6% |
| Current assets | 29/58 | €18,153 | €20,652 | +€2,499 | +13.8% |
| Amounts receivable within one year | 40/41 | €754 | - | -€754 | |
| Other amounts receivable | 41 | €754 | - | -€754 | |
| Cash at bank and in hand | 54/58 | €16,436 | €20,652 | +€4,217 | +25.7% |
| Deferred charges and accrued income | 490/1 | €963 | - | -€963 | |
| Total equity and liabilities | 10/49 | €2,337,752 | €2,392,350 | +€54,598 | +2.3% |
| Equity | 10/15 | €728,629 | €956,042 | +€227,412 | +31.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €710,029 | €937,442 | +€227,412 | +32.0% |
| Distributable reserves | 133 | €710,029 | €937,442 | +€227,412 | +32.0% |
| Amounts payable | 17/49 | €1,609,122 | €1,436,308 | -€172,814 | -10.7% |
| Amounts payable after more than one year | 17 | €1,413,983 | €1,143,157 | -€270,827 | -19.2% |
| Financial debts | 170/4 | €1,398,483 | €1,127,657 | -€270,827 | -19.4% |
| Other amounts payable | 178/9 | €15,500 | €15,500 | = | 0.0% |
| Amounts payable within one year | 42/48 | €179,384 | €273,698 | +€94,313 | +52.6% |
| Current portion of amounts payable after more than one year | 42 | €153,582 | €158,327 | +€4,744 | +3.1% |
| Trade debts | 44 | €27 | €590 | +€563 | +2068.6% |
| Suppliers | 440/4 | €27 | €590 | +€563 | +2068.6% |
| Taxes, remuneration and social security | 45 | €13,791 | €14,035 | +€244 | +1.8% |
| Taxes | 450/3 | €13,791 | €14,035 | +€244 | +1.8% |
| Other amounts payable | 47/48 | €11,983 | €100,746 | +€88,762 | +740.7% |
| Accrued charges and deferred income | 492/3 | €15,755 | €19,453 | +€3,699 | +23.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,851 | €30,026 | +€13,175 | +78.2% |
| Other operating charges | 640/8 | €63,853 | €1,563 | -€62,290 | -97.6% |
| Gross operating margin | 9900 | €219,550 | €170,410 | -€49,140 | -22.4% |
| Operating profit (loss) | 9901 | €138,846 | €138,822 | -€25 | 0.0% |
| Financial income | 75/76B | €240,000 | €190,000 | -€50,000 | -20.8% |
| Recurring financial income | 75 | €240,000 | €190,000 | -€50,000 | -20.8% |
| Financial charges | 65/66B | €55,885 | €58,147 | +€2,262 | +4.0% |
| Recurring financial charges | 65 | €55,885 | €58,147 | +€2,262 | +4.0% |
| Profit (loss) for the period before taxes | 9903 | €322,961 | €270,674 | -€52,287 | -16.2% |
| Income taxes | 67/77 | €19,246 | €20,694 | +€1,449 | +7.5% |
| Profit (loss) for the period | 9904 | €303,715 | €249,980 | -€53,735 | -17.7% |
| Profit (loss) for the period to be appropriated | 9905 | €303,715 | €249,980 | -€53,735 | -17.7% |
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 10 October 2026 via checked.be.