BT BEHEER: 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 BEHEER
Largest movements
- Current investments +€232,944
up €232,944 (+51.6%), from €451,818 to €684,762
- Tangible fixed assets -€90,287
down €90,287 (-42.5%), from €212,632 to €122,345
of which Land and buildings: -€74,927
- Cash -€52,653
down €52,653 (-63.3%), from €83,211 to €30,558
mainly Current investments (-€232,944) and Other debts (-€96,071)
- Receivables within one year -€30,154
down €30,154 (-23.1%), from €130,678 to €100,523
of which Other amounts receivable: -€30,000
- Reserves +€176,242
up €176,242 (+28.6%), from €616,614 to €792,856
of which Distributable reserves: +€176,242
- Other debts -€96,071
down €96,071 (-62.0%), from €154,905 to €58,834
- Debts after one year -€25,312
down €25,312 (-43.1%), from €58,759 to €33,447
- Gross operating margin +€168,404
up €168,404 (+109%), from €154,239 to €322,642
- Taxes +€54,723
up €54,723 (+136%), from €40,182 to €94,905
- Financial income -€7,397
down €7,397 (-39.3%), from €18,808 to €11,412
- Depreciation -€5,932
down €5,932 (-19.6%), from €30,207 to €24,274
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 | €888,205 | €944,320 | +€56,115 | +6.3% |
| Fixed assets | 21/28 | €212,632 | €122,345 | -€90,287 | -42.5% |
| Tangible fixed assets | 22/27 | €212,632 | €122,345 | -€90,287 | -42.5% |
| Land and buildings | 22 | €167,714 | €92,788 | -€74,927 | -44.7% |
| Furniture and vehicles | 24 | €44,918 | €29,558 | -€15,360 | -34.2% |
| Current assets | 29/58 | €675,573 | €821,975 | +€146,402 | +21.7% |
| Amounts receivable within one year | 40/41 | €130,678 | €100,523 | -€30,154 | -23.1% |
| Trade receivables | 40 | €8,178 | €8,023 | -€154 | -1.9% |
| Other amounts receivable | 41 | €122,500 | €92,500 | -€30,000 | -24.5% |
| Current investments | 50/53 | €451,818 | €684,762 | +€232,944 | +51.6% |
| Cash at bank and in hand | 54/58 | €83,211 | €30,558 | -€52,653 | -63.3% |
| Deferred charges and accrued income | 490/1 | €9,866 | €6,131 | -€3,735 | -37.9% |
| Total equity and liabilities | 10/49 | €888,205 | €944,320 | +€56,115 | +6.3% |
| Equity | 10/15 | €622,814 | €799,056 | +€176,242 | +28.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €616,614 | €792,856 | +€176,242 | +28.6% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €614,614 | €790,856 | +€176,242 | +28.7% |
| Amounts payable | 17/49 | €265,391 | €145,264 | -€120,127 | -45.3% |
| Amounts payable after more than one year | 17 | €58,759 | €33,447 | -€25,312 | -43.1% |
| Financial debts | 170/4 | €58,759 | €33,447 | -€25,312 | -43.1% |
| Amounts payable within one year | 42/48 | €206,631 | €111,817 | -€94,815 | -45.9% |
| Current portion of amounts payable after more than one year | 42 | €24,845 | €25,312 | +€467 | +1.9% |
| Trade debts | 44 | €3,214 | €5,355 | +€2,141 | +66.6% |
| Suppliers | 440/4 | €3,214 | €5,355 | +€2,141 | +66.6% |
| Taxes, remuneration and social security | 45 | €23,667 | €22,316 | -€1,351 | -5.7% |
| Taxes | 450/3 | €23,667 | €22,316 | -€1,351 | -5.7% |
| Other amounts payable | 47/48 | €154,905 | €58,834 | -€96,071 | -62.0% |
| Non-recurring operating income | 76A | - | €167,918 | +€167,918 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,207 | €24,274 | -€5,932 | -19.6% |
| Other operating charges | 640/8 | €4,500 | €3,726 | -€774 | -17.2% |
| Gross operating margin | 9900 | €154,239 | €322,642 | +€168,404 | +109% |
| Operating profit (loss) | 9901 | €119,533 | €294,642 | +€175,110 | +146% |
| Financial income | 75/76B | €18,808 | €11,412 | -€7,397 | -39.3% |
| Recurring financial income | 75 | €18,808 | €11,412 | -€7,397 | -39.3% |
| Financial charges | 65/66B | €1,998 | €1,587 | -€412 | -20.6% |
| Recurring financial charges | 65 | €1,998 | €1,587 | -€412 | -20.6% |
| Profit (loss) for the period before taxes | 9903 | €136,343 | €304,467 | +€168,124 | +123% |
| Income taxes | 67/77 | €40,182 | €94,905 | +€54,723 | +136% |
| Profit (loss) for the period | 9904 | €96,161 | €209,562 | +€113,402 | +118% |
| Profit (loss) for the period to be appropriated | 9905 | €96,161 | €209,562 | +€113,402 | +118% |
Source: filed annual accounts (NBB), financial years ended 31 October 2024 and 31 October 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.