Botermarkt: 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.
Botermarkt
Largest movements
- Tangible fixed assets -€25,022
down €25,022 (-12.5%), from €199,630 to €174,609
of which Plant, machinery and equipment: -€18,485
- Receivables within one year -€6,906
down €6,906 (-36.9%), from €18,730 to €11,824
of which Other amounts receivable: -€3,668
- Cash +€6,343
up €6,343 (+8.1%), from €78,587 to €84,930
mainly Depreciation (+€45,743) and Other debts (+€34,989)
- Current investments -€4,593
down €4,593 (-30.5%), from €15,038 to €10,445
- Debts after one year -€45,397
down €45,397 (-33.8%), from €134,185 to €88,788
- Other debts +€34,989
new in 2025: €34,989
- Reserves -€20,843
down €20,843 (-20.9%), from €99,879 to €79,036
- Current portion of long-term debt -€9,425
down €9,425 (-16.7%), from €56,307 to €46,882
- Tax, wage and social debts +€7,494
up €7,494 (+283.7%), from €2,642 to €10,135
of which Remuneration and social security: +€4,078
- Depreciation +€16,002
up €16,002 (+53.8%), from €29,740 to €45,743
- Gross operating margin -€6,849
down €6,849 (-6.8%), from €100,181 to €93,332
- Taxes +€2,328
up €2,328 (+23.7%), from €9,817 to €12,145
- Financial charges +€1,907
up €1,907 (+27.2%), from €7,004 to €8,911
of which Financial charges: +€1,791
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 | €328,448 | €295,759 | -€32,689 | -10.0% |
| Fixed assets | 21/28 | €199,630 | €174,609 | -€25,022 | -12.5% |
| Tangible fixed assets | 22/27 | €199,630 | €174,609 | -€25,022 | -12.5% |
| Land and buildings | 22 | €85,017 | €67,957 | -€17,059 | -20.1% |
| Plant, machinery and equipment | 23 | €107,187 | €88,702 | -€18,485 | -17.2% |
| Furniture and vehicles | 24 | €7,427 | €17,949 | +€10,522 | +141.7% |
| Current assets | 29/58 | €128,817 | €121,150 | -€7,667 | -6.0% |
| Stocks and contracts in progress | 3 | €13,354 | €13,687 | +€332 | +2.5% |
| Stocks | 30/36 | €13,354 | €13,687 | +€332 | +2.5% |
| Amounts receivable within one year | 40/41 | €18,730 | €11,824 | -€6,906 | -36.9% |
| Trade receivables | 40 | €10,695 | €7,457 | -€3,238 | -30.3% |
| Other amounts receivable | 41 | €8,036 | €4,368 | -€3,668 | -45.6% |
| Current investments | 50/53 | €15,038 | €10,445 | -€4,593 | -30.5% |
| Cash at bank and in hand | 54/58 | €78,587 | €84,930 | +€6,343 | +8.1% |
| Deferred charges and accrued income | 490/1 | €3,107 | €264 | -€2,844 | -91.5% |
| Total equity and liabilities | 10/49 | €328,448 | €295,759 | -€32,689 | -10.0% |
| Equity | 10/15 | €99,879 | €79,036 | -€20,843 | -20.9% |
| Reserves | 13 | €99,879 | €79,036 | -€20,843 | -20.9% |
| Distributable reserves | 133 | €99,879 | €79,036 | -€20,843 | -20.9% |
| Amounts payable | 17/49 | €228,569 | €216,723 | -€11,846 | -5.2% |
| Amounts payable after more than one year | 17 | €134,185 | €88,788 | -€45,397 | -33.8% |
| Financial debts | 170/4 | €134,185 | €88,788 | -€45,397 | -33.8% |
| Amounts payable within one year | 42/48 | €91,346 | €124,373 | +€33,027 | +36.2% |
| Current portion of amounts payable after more than one year | 42 | €56,307 | €46,882 | -€9,425 | -16.7% |
| Trade debts | 44 | €32,398 | €32,367 | -€31 | -0.1% |
| Suppliers | 440/4 | €32,398 | €32,367 | -€31 | -0.1% |
| Taxes, remuneration and social security | 45 | €2,642 | €10,135 | +€7,494 | +283.7% |
| Taxes | 450/3 | €2,642 | €6,058 | +€3,416 | +129.3% |
| Remuneration and social security | 454/9 | - | €4,078 | +€4,078 | |
| Other amounts payable | 47/48 | - | €34,989 | +€34,989 | |
| Accrued charges and deferred income | 492/3 | €3,038 | €3,561 | +€523 | +17.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,740 | €45,743 | +€16,002 | +53.8% |
| Other operating charges | 640/8 | €1,869 | €1,576 | -€293 | -15.7% |
| Non-recurring operating charges | 66A | €26,360 | - | -€26,360 | |
| Gross operating margin | 9900 | €100,181 | €93,332 | -€6,849 | -6.8% |
| Operating profit (loss) | 9901 | €42,212 | €46,014 | +€3,802 | +9.0% |
| Financial income | 75/76B | €1,026 | €703 | -€323 | -31.5% |
| Recurring financial income | 75 | €1,026 | €703 | -€323 | -31.5% |
| Financial charges | 65/66B | €7,004 | €8,911 | +€1,907 | +27.2% |
| Recurring financial charges | 65 | €7,004 | €8,795 | +€1,791 | +25.6% |
| Non-recurring financial charges | 66B | - | €116 | +€116 | |
| Profit (loss) for the period before taxes | 9903 | €36,234 | €37,806 | +€1,572 | +4.3% |
| Income taxes | 67/77 | €9,817 | €12,145 | +€2,328 | +23.7% |
| Profit (loss) for the period | 9904 | €26,416 | €25,661 | -€755 | -2.9% |
| Profit (loss) for the period to be appropriated | 9905 | €26,416 | €25,661 | -€755 | -2.9% |
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 2 October 2026 via checked.be.