BOTSHES: 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.
BOTSHES
Largest movements
- Tangible fixed assets +€69,647
up €69,647 (+28.9%), from €241,319 to €310,966
of which Leasing and similar rights: +€80,851
- Cash +€46,401
up €46,401 (+51.0%), from €90,999 to €137,400
mainly Debts after one year (+€93,231) and Depreciation (+€72,434)
- Receivables within one year -€15,735
down €15,735 (-45.4%), from €34,629 to €18,894
of which Trade receivables: -€14,846
- Deferred charges and accrued income +€14,570
up €14,570 (+219.2%), from €6,648 to €21,219
- Debts after one year +€93,231
new in 2025: €93,231
- Other debts -€32,804
down €32,804 (-22.2%), from €147,447 to €114,643
- Reserves +€29,354
up €29,354 (+16.4%), from €178,733 to €208,087
- Current portion of long-term debt +€20,557
new in 2025: €20,557
- Accrued charges and deferred income +€4,970
up €4,970 (+98.0%), from €5,072 to €10,042
- Gross operating margin -€102,080
down €102,080 (-42.4%), from €240,576 to €138,496
- Taxes -€39,223
down €39,223 (-71.2%), from €55,100 to €15,877
- Depreciation +€27,598
up €27,598 (+61.6%), from €44,837 to €72,434
- Financial charges +€8,265
up €8,265 (+144.2%), from €5,730 to €13,995
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 | €374,339 | €488,478 | +€114,140 | +30.5% |
| Fixed assets | 21/28 | €242,062 | €310,966 | +€68,904 | +28.5% |
| Intangible fixed assets | 21 | €743 | €0 | -€743 | -100.0% |
| Tangible fixed assets | 22/27 | €241,319 | €310,966 | +€69,647 | +28.9% |
| Land and buildings | 22 | €77,134 | €70,382 | -€6,751 | -8.8% |
| Plant, machinery and equipment | 23 | €73,041 | €47,377 | -€25,664 | -35.1% |
| Furniture and vehicles | 24 | €91,145 | €112,356 | +€21,211 | +23.3% |
| Leasing and similar rights | 25 | - | €80,851 | +€80,851 | |
| Current assets | 29/58 | €132,277 | €177,513 | +€45,236 | +34.2% |
| Amounts receivable within one year | 40/41 | €34,629 | €18,894 | -€15,735 | -45.4% |
| Trade receivables | 40 | €30,951 | €16,105 | -€14,846 | -48.0% |
| Other amounts receivable | 41 | €3,679 | €2,789 | -€889 | -24.2% |
| Cash at bank and in hand | 54/58 | €90,999 | €137,400 | +€46,401 | +51.0% |
| Deferred charges and accrued income | 490/1 | €6,648 | €21,219 | +€14,570 | +219.2% |
| Total equity and liabilities | 10/49 | €374,339 | €488,478 | +€114,140 | +30.5% |
| Equity | 10/15 | €188,733 | €218,087 | +€29,354 | +15.6% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €178,733 | €208,087 | +€29,354 | +16.4% |
| Distributable reserves | 133 | €178,733 | €208,087 | +€29,354 | +16.4% |
| Amounts payable | 17/49 | €185,606 | €270,391 | +€84,785 | +45.7% |
| Amounts payable after more than one year | 17 | - | €93,231 | +€93,231 | |
| Financial debts | 170/4 | - | €93,231 | +€93,231 | |
| Amounts payable within one year | 42/48 | €180,534 | €167,118 | -€13,416 | -7.4% |
| Current portion of amounts payable after more than one year | 42 | - | €20,557 | +€20,557 | |
| Trade debts | 44 | €11,250 | €7,159 | -€4,090 | -36.4% |
| Suppliers | 440/4 | €11,250 | €7,159 | -€4,090 | -36.4% |
| Taxes, remuneration and social security | 45 | €21,838 | €24,759 | +€2,921 | +13.4% |
| Taxes | 450/3 | €21,838 | €24,759 | +€2,921 | +13.4% |
| Other amounts payable | 47/48 | €147,447 | €114,643 | -€32,804 | -22.2% |
| Accrued charges and deferred income | 492/3 | €5,072 | €10,042 | +€4,970 | +98.0% |
| Remuneration, social security and pensions | 62 | €5,490 | €5,283 | -€206 | -3.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,837 | €72,434 | +€27,598 | +61.6% |
| Other operating charges | 640/8 | €738 | €3,114 | +€2,376 | +321.9% |
| Gross operating margin | 9900 | €240,576 | €138,496 | -€102,080 | -42.4% |
| Operating profit (loss) | 9901 | €189,511 | €57,664 | -€131,847 | -69.6% |
| Financial income | 75/76B | €9 | €1,563 | +€1,554 | +17076.0% |
| Recurring financial income | 75 | €9 | €1,563 | +€1,554 | +17076.0% |
| Financial charges | 65/66B | €5,730 | €13,995 | +€8,265 | +144.2% |
| Recurring financial charges | 65 | €5,730 | €13,995 | +€8,265 | +144.2% |
| Profit (loss) for the period before taxes | 9903 | €183,790 | €45,232 | -€138,558 | -75.4% |
| Income taxes | 67/77 | €55,100 | €15,877 | -€39,223 | -71.2% |
| Profit (loss) for the period | 9904 | €128,690 | €29,354 | -€99,336 | -77.2% |
| Profit (loss) for the period to be appropriated | 9905 | €128,690 | €29,354 | -€99,336 | -77.2% |
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 8 October 2026 via checked.be.