BHUTTI: 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.
BHUTTI
Largest movements
- Stocks and contracts +€17,552
up €17,552 (+76.6%), from €22,928 to €40,480
- Receivables within one year +€10,657
up €10,657 (+22.7%), from €46,880 to €57,537
of which Trade receivables: +€19,857
- Tangible fixed assets -€4,834
down €4,834 (-33.3%), from €14,502 to €9,668
- Profit (loss) carried forward +€11,547
up €11,547 (+16.0%), from €72,365 to €83,912
- Other debts +€7,500
new in 2025: €7,500
- Trade debts +€3,049
up €3,049 (+64.1%), from €4,755 to €7,804
- Tax, wage and social debts +€1,895
up €1,895 (+26.3%), from €7,212 to €9,107
of which Taxes: +€1,570
- Gross operating margin -€13,638
down €13,638 (-26.3%), from €51,869 to €38,231
- Staff costs +€4,301
up €4,301 (+110.0%), from €3,909 to €8,210
- Other operating charges -€4,222
down €4,222 (-82.0%), from €5,150 to €928
- Taxes -€3,763
down €3,763 (-44.6%), from €8,435 to €4,672
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 | €92,388 | €116,380 | +€23,992 | +26.0% |
| Formation expenses | 20 | €1,576 | €1,120 | -€456 | -28.9% |
| Fixed assets | 21/28 | €14,502 | €9,668 | -€4,834 | -33.3% |
| Tangible fixed assets | 22/27 | €14,502 | €9,668 | -€4,834 | -33.3% |
| Furniture and vehicles | 24 | €14,502 | €9,668 | -€4,834 | -33.3% |
| Current assets | 29/58 | €76,310 | €105,592 | +€29,282 | +38.4% |
| Stocks and contracts in progress | 3 | €22,928 | €40,480 | +€17,552 | +76.6% |
| Stocks | 30/36 | €22,928 | €40,480 | +€17,552 | +76.6% |
| Amounts receivable within one year | 40/41 | €46,880 | €57,537 | +€10,657 | +22.7% |
| Trade receivables | 40 | €12,513 | €32,370 | +€19,857 | +158.7% |
| Other amounts receivable | 41 | €34,367 | €25,167 | -€9,200 | -26.8% |
| Cash at bank and in hand | 54/58 | €6,210 | €7,283 | +€1,073 | +17.3% |
| Deferred charges and accrued income | 490/1 | €292 | €292 | -€0 | -0.1% |
| Total equity and liabilities | 10/49 | €92,388 | €116,380 | +€23,992 | +26.0% |
| Equity | 10/15 | €80,421 | €91,968 | +€11,547 | +14.4% |
| Contributions | 10/11 | €6,197 | €6,197 | = | 0.0% |
| Reserves | 13 | €1,859 | €1,859 | +€0 | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | +€0 | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | - | -€1,859 | |
| Other | 1319 | - | €1,859 | +€1,859 | |
| Profit (loss) carried forward | 14 | €72,365 | €83,912 | +€11,547 | +16.0% |
| Amounts payable | 17/49 | €11,967 | €24,411 | +€12,444 | +104.0% |
| Amounts payable within one year | 42/48 | €11,967 | €24,411 | +€12,444 | +104.0% |
| Trade debts | 44 | €4,755 | €7,804 | +€3,049 | +64.1% |
| Suppliers | 440/4 | €4,755 | €7,804 | +€3,049 | +64.1% |
| Taxes, remuneration and social security | 45 | €7,212 | €9,107 | +€1,895 | +26.3% |
| Taxes | 450/3 | €6,685 | €8,255 | +€1,570 | +23.5% |
| Remuneration and social security | 454/9 | €527 | €852 | +€325 | +61.7% |
| Other amounts payable | 47/48 | - | €7,500 | +€7,500 | |
| Remuneration, social security and pensions | 62 | €3,909 | €8,210 | +€4,301 | +110.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,290 | €5,290 | +€0 | 0.0% |
| Other operating charges | 640/8 | €5,150 | €928 | -€4,222 | -82.0% |
| Gross operating margin | 9900 | €51,869 | €38,231 | -€13,638 | -26.3% |
| Operating profit (loss) | 9901 | €37,520 | €23,802 | -€13,718 | -36.6% |
| Financial income | 75/76B | €2 | - | -€2 | |
| Recurring financial income | 75 | €2 | - | -€2 | |
| Financial charges | 65/66B | €121 | €84 | -€37 | -30.6% |
| Recurring financial charges | 65 | €121 | €84 | -€37 | -30.6% |
| Profit (loss) for the period before taxes | 9903 | €37,401 | €23,719 | -€13,683 | -36.6% |
| Income taxes | 67/77 | €8,435 | €4,672 | -€3,763 | -44.6% |
| Profit (loss) for the period | 9904 | €28,966 | €19,047 | -€9,919 | -34.2% |
| Profit (loss) for the period to be appropriated | 9905 | €28,966 | €19,047 | -€9,919 | -34.2% |
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 7 October 2026 via checked.be.