BHATTACHAN: 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.
BHATTACHAN
Largest movements
- Financial fixed assets -€1.0m
down €1.0m (-5.4%), from €19.2m to €18.2m
- Receivables within one year +€275,128
new in 2025: €275,128
- Debts after one year -€1.2m
down €1.2m (-23.0%), from €5.3m to €4.0m
- Other debts +€1.1m
up €1.1m (+14.8%), from €7.2m to €8.3m
- Short-term financial debts -€800,781
no longer reported in 2025 (was €800,781)
- Profit (loss) carried forward +€337,394
up €337,394 (+13.1%), from €2.6m to €2.9m
- Accrued charges and deferred income -€210,000
down €210,000 (-90.8%), from €231,288 to €21,288
- Financial income -€3.0m
down €3.0m (-75.0%), from €4.0m to €1.0m
- Financial charges -€182,550
down €182,550 (-21.8%), from €838,106 to €655,555
- Depreciation +€3,467
new in 2025: €3,467
- Gross operating margin -€181
down €181 (-5.3%), from -€3,402 to -€3,584
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 | €19,227,673 | €18,474,496 | -€753,177 | -3.9% |
| Formation expenses | 20 | €13,649 | €10,182 | -€3,467 | -25.4% |
| Fixed assets | 21/28 | €19,213,436 | €18,180,931 | -€1.0m | -5.4% |
| Financial fixed assets | 28 | €19,213,436 | €18,180,931 | -€1.0m | -5.4% |
| Current assets | 29/58 | €588 | €283,382 | +€282,794 | +48093.5% |
| Amounts receivable within one year | 40/41 | - | €275,128 | +€275,128 | |
| Other amounts receivable | 41 | - | €275,128 | +€275,128 | |
| Cash at bank and in hand | 54/58 | €588 | €8,255 | +€7,667 | +1303.8% |
| Total equity and liabilities | 10/49 | €19,227,673 | €18,474,496 | -€753,177 | -3.9% |
| Equity | 10/15 | €4,571,633 | €4,909,027 | +€337,394 | +7.4% |
| Contributions | 10/11 | €2,000,000 | €2,000,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,571,633 | €2,909,027 | +€337,394 | +13.1% |
| Amounts payable | 17/49 | €14,656,040 | €13,565,468 | -€1.1m | -7.4% |
| Amounts payable after more than one year | 17 | €5,255,163 | €4,048,795 | -€1.2m | -23.0% |
| Financial debts | 170/4 | €5,255,163 | €4,048,795 | -€1.2m | -23.0% |
| Amounts payable within one year | 42/48 | €9,169,589 | €9,495,386 | +€325,797 | +3.6% |
| Current portion of amounts payable after more than one year | 42 | €1,140,204 | €1,197,065 | +€56,861 | +5.0% |
| Financial debts | 43 | €800,781 | - | -€800,781 | |
| Credit institutions | 430/8 | €800,781 | - | -€800,781 | |
| Other amounts payable | 47/48 | €7,228,603 | €8,298,320 | +€1.1m | +14.8% |
| Accrued charges and deferred income | 492/3 | €231,288 | €21,288 | -€210,000 | -90.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €3,467 | +€3,467 | |
| Gross operating margin | 9900 | -€3,402 | -€3,584 | -€181 | -5.3% |
| Operating profit (loss) | 9901 | -€3,402 | -€7,050 | -€3,648 | -107.2% |
| Financial income | 75/76B | €4,000,000 | €1,000,000 | -€3.0m | -75.0% |
| Recurring financial income | 75 | €4,000,000 | €1,000,000 | -€3.0m | -75.0% |
| Financial charges | 65/66B | €838,106 | €655,555 | -€182,550 | -21.8% |
| Recurring financial charges | 65 | €838,106 | €655,555 | -€182,550 | -21.8% |
| Profit (loss) for the period before taxes | 9903 | €3,158,492 | €337,394 | -€2.8m | -89.3% |
| Profit (loss) for the period | 9904 | €3,158,492 | €337,394 | -€2.8m | -89.3% |
| Profit (loss) for the period to be appropriated | 9905 | €3,158,492 | €337,394 | -€2.8m | -89.3% |
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 8 October 2026 via checked.be.