BKTOR: 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.
BKTOR
Largest movements
- Intangible fixed assets -€167,600
down €167,600 (-25.0%), from €670,400 to €502,800
- Receivables within one year +€41,739
up €41,739 (+32.2%), from €129,634 to €171,373
of which Trade receivables: +€27,937
- Tangible fixed assets -€15,009
down €15,009 (-12.7%), from €118,268 to €103,259
of which Leasing and similar rights: -€13,223
- Debts after one year -€83,966
down €83,966 (-24.8%), from €338,888 to €254,922
- Reserves -€69,407
down €69,407 (-16.8%), from €412,979 to €343,572
- Other debts +€11,592
up €11,592 (+1,064%), from €1,089 to €12,681
- Financial income -€47,236
down €47,236 (-100.0%), from €47,250 to €14
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 | €931,541 | €788,528 | -€143,013 | -15.4% |
| Fixed assets | 21/28 | €788,668 | €606,059 | -€182,609 | -23.2% |
| Intangible fixed assets | 21 | €670,400 | €502,800 | -€167,600 | -25.0% |
| Tangible fixed assets | 22/27 | €118,268 | €103,259 | -€15,009 | -12.7% |
| Land and buildings | 22 | €99,502 | €97,717 | -€1,785 | -1.8% |
| Leasing and similar rights | 25 | €18,766 | €5,543 | -€13,223 | -70.5% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €142,873 | €182,469 | +€39,596 | +27.7% |
| Amounts receivable within one year | 40/41 | €129,634 | €171,373 | +€41,739 | +32.2% |
| Trade receivables | 40 | €89,469 | €117,406 | +€27,937 | +31.2% |
| Other amounts receivable | 41 | €40,165 | €53,968 | +€13,802 | +34.4% |
| Cash at bank and in hand | 54/58 | €6,823 | €8,441 | +€1,618 | +23.7% |
| Deferred charges and accrued income | 490/1 | €6,416 | €2,655 | -€3,761 | -58.6% |
| Total equity and liabilities | 10/49 | €931,541 | €788,528 | -€143,013 | -15.4% |
| Equity | 10/15 | €462,979 | €393,572 | -€69,407 | -15.0% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €412,979 | €343,572 | -€69,407 | -16.8% |
| Distributable reserves | 133 | €412,979 | €343,572 | -€69,407 | -16.8% |
| Amounts payable | 17/49 | €468,562 | €394,956 | -€73,606 | -15.7% |
| Amounts payable after more than one year | 17 | €338,888 | €254,922 | -€83,966 | -24.8% |
| Financial debts | 170/4 | €338,888 | €254,922 | -€83,966 | -24.8% |
| Amounts payable within one year | 42/48 | €123,674 | €140,034 | +€16,360 | +13.2% |
| Current portion of amounts payable after more than one year | 42 | €86,960 | €83,966 | -€2,994 | -3.4% |
| Trade debts | 44 | €11,170 | €19,105 | +€7,935 | +71.0% |
| Suppliers | 440/4 | €11,170 | €19,105 | +€7,935 | +71.0% |
| Taxes, remuneration and social security | 45 | €24,456 | €24,282 | -€173 | -0.7% |
| Taxes | 450/3 | €24,456 | €24,282 | -€173 | -0.7% |
| Other amounts payable | 47/48 | €1,089 | €12,681 | +€11,592 | +1,064% |
| Accrued charges and deferred income | 492/3 | €6,000 | €0 | -€6,000 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €182,609 | €182,609 | -€0 | 0.0% |
| Other operating charges | 640/8 | €8,043 | €6,831 | -€1,213 | -15.1% |
| Gross operating margin | 9900 | €158,935 | €158,755 | -€180 | -0.1% |
| Operating profit (loss) | 9901 | -€31,717 | -€30,684 | +€1,032 | +3.3% |
| Financial income | 75/76B | €47,250 | €14 | -€47,236 | -100.0% |
| Recurring financial income | 75 | €47,250 | €14 | -€47,236 | -100.0% |
| Financial charges | 65/66B | €9,706 | €8,817 | -€889 | -9.2% |
| Recurring financial charges | 65 | €9,706 | €8,817 | -€889 | -9.2% |
| Profit (loss) for the period before taxes | 9903 | €5,827 | -€39,487 | -€45,314 | |
| Income taxes | 67/77 | €30,321 | €29,920 | -€401 | -1.3% |
| Profit (loss) for the period | 9904 | -€24,494 | -€69,407 | -€44,913 | -183% |
| Profit (loss) for the period to be appropriated | 9905 | -€24,494 | -€69,407 | -€44,913 | -183% |
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 20 October 2026 via checked.be.