BT&B: 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.
BT&B
Largest movements
- Cash -€54,539
down €54,539 (-31.5%), from €173,293 to €118,754
mainly Investment in fixed assets (net) (-€74,527) and Stocks and contracts (-€39,568)
- Tangible fixed assets +€46,854
up €46,854 (+12.4%), from €376,490 to €423,344
of which Assets under construction and advance payments: +€52,572
- Stocks and contracts +€39,568
up €39,568 (+251.6%), from €15,725 to €55,293
- Receivables within one year -€30,227
down €30,227 (-41.0%), from €73,645 to €43,418
of which Trade receivables: -€36,345
- Reserves +€38,017
up €38,017 (+9.2%), from €411,669 to €449,686
of which Distributable reserves: +€38,017
- Trade debts -€25,990
down €25,990 (-36.9%), from €70,483 to €44,492
- Debts after one year -€13,207
down €13,207 (-9.6%), from €137,246 to €124,039
- Gross operating margin -€99,401
down €99,401 (-46.4%), from €214,086 to €114,685
- Depreciation -€30,440
down €30,440 (-52.0%), from €58,514 to €28,073
- Taxes -€19,969
down €19,969 (-57.1%), from €34,960 to €14,991
- Other operating charges -€10,841
down €10,841 (-86.1%), from €12,591 to €1,750
- Staff costs +€7,190
up €7,190 (+33.5%), from €21,461 to €28,651
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 | €649,815 | €649,449 | -€366 | -0.1% |
| Fixed assets | 21/28 | €376,890 | €423,344 | +€46,454 | +12.3% |
| Tangible fixed assets | 22/27 | €376,490 | €423,344 | +€46,854 | +12.4% |
| Land and buildings | 22 | €334,733 | €323,883 | -€10,850 | -3.2% |
| Plant, machinery and equipment | 23 | €4,456 | €6,129 | +€1,673 | +37.5% |
| Furniture and vehicles | 24 | €37,300 | €40,760 | +€3,460 | +9.3% |
| Assets under construction and advance payments | 27 | - | €52,572 | +€52,572 | |
| Financial fixed assets | 28 | €400 | €0 | -€400 | -100.0% |
| Current assets | 29/58 | €272,925 | €226,105 | -€46,821 | -17.2% |
| Stocks and contracts in progress | 3 | €15,725 | €55,293 | +€39,568 | +251.6% |
| Stocks | 30/36 | €15,725 | €55,293 | +€39,568 | +251.6% |
| Amounts receivable within one year | 40/41 | €73,645 | €43,418 | -€30,227 | -41.0% |
| Trade receivables | 40 | €66,150 | €29,805 | -€36,345 | -54.9% |
| Other amounts receivable | 41 | €7,495 | €13,613 | +€6,117 | +81.6% |
| Cash at bank and in hand | 54/58 | €173,293 | €118,754 | -€54,539 | -31.5% |
| Deferred charges and accrued income | 490/1 | €10,263 | €8,640 | -€1,623 | -15.8% |
| Total equity and liabilities | 10/49 | €649,815 | €649,449 | -€366 | -0.1% |
| Equity | 10/15 | €417,919 | €455,936 | +€38,017 | +9.1% |
| Contributions | 10/11 | €6,250 | €6,250 | = | 0.0% |
| Reserves | 13 | €411,669 | €449,686 | +€38,017 | +9.2% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €409,809 | €447,826 | +€38,017 | +9.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €231,897 | €193,513 | -€38,384 | -16.6% |
| Amounts payable after more than one year | 17 | €137,246 | €124,039 | -€13,207 | -9.6% |
| Financial debts | 170/4 | €137,246 | €124,039 | -€13,207 | -9.6% |
| Amounts payable within one year | 42/48 | €94,199 | €69,474 | -€24,724 | -26.2% |
| Current portion of amounts payable after more than one year | 42 | €12,754 | €13,207 | +€453 | +3.6% |
| Trade debts | 44 | €70,483 | €44,492 | -€25,990 | -36.9% |
| Suppliers | 440/4 | €70,483 | €44,492 | -€25,990 | -36.9% |
| Taxes, remuneration and social security | 45 | €8,281 | €9,355 | +€1,074 | +13.0% |
| Taxes | 450/3 | €597 | €0 | -€597 | -100.0% |
| Remuneration and social security | 454/9 | €7,684 | €9,355 | +€1,671 | +21.7% |
| Other amounts payable | 47/48 | €2,681 | €2,420 | -€261 | -9.7% |
| Accrued charges and deferred income | 492/3 | €452 | €0 | -€452 | -100.0% |
| Non-recurring operating income | 76A | €10,000 | €0 | -€10,000 | -100.0% |
| Remuneration, social security and pensions | 62 | €21,461 | €28,651 | +€7,190 | +33.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €58,514 | €28,073 | -€30,440 | -52.0% |
| Other operating charges | 640/8 | €12,591 | €1,750 | -€10,841 | -86.1% |
| Gross operating margin | 9900 | €214,086 | €114,685 | -€99,401 | -46.4% |
| Operating profit (loss) | 9901 | €121,521 | €56,211 | -€65,309 | -53.7% |
| Financial income | 75/76B | €1,597 | €2,485 | +€888 | +55.6% |
| Recurring financial income | 75 | €1,597 | €2,485 | +€888 | +55.6% |
| Financial charges | 65/66B | €752 | €5,689 | +€4,936 | +656.1% |
| Recurring financial charges | 65 | €752 | €5,689 | +€4,936 | +656.1% |
| Profit (loss) for the period before taxes | 9903 | €122,366 | €53,008 | -€69,358 | -56.7% |
| Income taxes | 67/77 | €34,960 | €14,991 | -€19,969 | -57.1% |
| Profit (loss) for the period | 9904 | €87,406 | €38,017 | -€49,389 | -56.5% |
| Profit (loss) for the period to be appropriated | 9905 | €87,406 | €38,017 | -€49,389 | -56.5% |
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 10 October 2026 via checked.be.