Botko: 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.
Botko
Largest movements
- Receivables within one year +€162,185
up €162,185 (+48.8%), from €332,145 to €494,330
of which Trade receivables: +€140,727
- Cash -€103,505
down €103,505 (-75.2%), from €137,722 to €34,217
mainly Receivables within one year (-€162,185) and Debts after one year (-€61,715)
- Deferred charges and accrued income +€54,462
up €54,462 (+57.7%), from €94,409 to €148,870
- Stocks and contracts +€18,705
up €18,705 (+4.5%), from €413,494 to €432,200
of which Contracts in progress: +€43,590
- Trade debts +€138,453
up €138,453 (+59.3%), from €233,332 to €371,784
- Debts after one year -€61,715
down €61,715 (-28.2%), from €218,735 to €157,020
- Current portion of long-term debt +€35,912
up €35,912 (+100.0%), from €35,913 to €71,825
- Gross operating margin +€89,041
up €89,041 (+17.7%), from €504,371 to €593,411
- Staff costs +€85,257
up €85,257 (+19.2%), from €443,963 to €529,220
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 | €1,092,272 | €1,219,916 | +€127,644 | +11.7% |
| Fixed assets | 21/28 | €114,502 | €110,299 | -€4,203 | -3.7% |
| Intangible fixed assets | 21 | €3,719 | €1,411 | -€2,308 | -62.1% |
| Tangible fixed assets | 22/27 | €87,220 | €85,325 | -€1,895 | -2.2% |
| Plant, machinery and equipment | 23 | €42,824 | €41,084 | -€1,739 | -4.1% |
| Furniture and vehicles | 24 | €44,396 | €44,241 | -€156 | -0.4% |
| Financial fixed assets | 28 | €23,564 | €23,564 | = | 0.0% |
| Current assets | 29/58 | €977,770 | €1,109,617 | +€131,847 | +13.5% |
| Stocks and contracts in progress | 3 | €413,494 | €432,200 | +€18,705 | +4.5% |
| Stocks | 30/36 | €144,594 | €119,710 | -€24,885 | -17.2% |
| Contracts in progress | 37 | €268,900 | €312,490 | +€43,590 | +16.2% |
| Amounts receivable within one year | 40/41 | €332,145 | €494,330 | +€162,185 | +48.8% |
| Trade receivables | 40 | €217,279 | €358,006 | +€140,727 | +64.8% |
| Other amounts receivable | 41 | €114,866 | €136,324 | +€21,458 | +18.7% |
| Cash at bank and in hand | 54/58 | €137,722 | €34,217 | -€103,505 | -75.2% |
| Deferred charges and accrued income | 490/1 | €94,409 | €148,870 | +€54,462 | +57.7% |
| Total equity and liabilities | 10/49 | €1,092,272 | €1,219,916 | +€127,644 | +11.7% |
| Equity | 10/15 | €233,978 | €243,297 | +€9,319 | +4.0% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €231,978 | €241,297 | +€9,319 | +4.0% |
| Distributable reserves | 133 | €231,978 | €241,297 | +€9,319 | +4.0% |
| Amounts payable | 17/49 | €858,295 | €976,619 | +€118,324 | +13.8% |
| Amounts payable after more than one year | 17 | €218,735 | €157,020 | -€61,715 | -28.2% |
| Financial debts | 170/4 | €218,735 | €157,020 | -€61,715 | -28.2% |
| Amounts payable within one year | 42/48 | €639,560 | €819,209 | +€179,649 | +28.1% |
| Current portion of amounts payable after more than one year | 42 | €35,913 | €71,825 | +€35,912 | +100.0% |
| Financial debts | 43 | €300,000 | €300,000 | = | 0.0% |
| Credit institutions | 430/8 | €300,000 | €300,000 | = | 0.0% |
| Trade debts | 44 | €233,332 | €371,784 | +€138,453 | +59.3% |
| Suppliers | 440/4 | €233,332 | €371,784 | +€138,453 | +59.3% |
| Taxes, remuneration and social security | 45 | €64,319 | €69,567 | +€5,248 | +8.2% |
| Taxes | 450/3 | €6,629 | €799 | -€5,831 | -88.0% |
| Remuneration and social security | 454/9 | €57,690 | €68,769 | +€11,078 | +19.2% |
| Other amounts payable | 47/48 | €5,996 | €6,033 | +€37 | +0.6% |
| Accrued charges and deferred income | 492/3 | - | €390 | +€390 | |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €443,963 | €529,220 | +€85,257 | +19.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,737 | €23,911 | +€2,174 | +10.0% |
| Other operating charges | 640/8 | €2,136 | €1,900 | -€236 | -11.1% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €504,371 | €593,411 | +€89,041 | +17.7% |
| Operating profit (loss) | 9901 | €36,535 | €38,380 | +€1,846 | +5.1% |
| Financial income | 75/76B | €3,995 | €52 | -€3,943 | -98.7% |
| Recurring financial income | 75 | €3,995 | €52 | -€3,943 | -98.7% |
| Financial charges | 65/66B | €28,934 | €27,935 | -€998 | -3.4% |
| Recurring financial charges | 65 | €28,934 | €27,935 | -€998 | -3.4% |
| Profit (loss) for the period before taxes | 9903 | €11,596 | €10,497 | -€1,099 | -9.5% |
| Income taxes | 67/77 | €1,298 | €1,178 | -€120 | -9.2% |
| Profit (loss) for the period | 9904 | €10,298 | €9,319 | -€979 | -9.5% |
| Profit (loss) for the period to be appropriated | 9905 | €10,298 | €9,319 | -€979 | -9.5% |
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.