BT BELUX: 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.
BT BELUX
Largest movements
- Receivables within one year +€387,220
up €387,220 (+126.1%), from €307,184 to €694,404
of which Other amounts receivable: +€530,251
- Stocks and contracts +€25,675
new in 2025: €25,675
- Tangible fixed assets -€17,211
down €17,211 (-17.2%), from €100,185 to €82,974
- Cash -€10,698
down €10,698 (-66.6%), from €16,073 to €5,376
mainly Receivables within one year (-€387,220) and Accrued charges and deferred income (-€129,487)
- Intangible fixed assets -€8,580
down €8,580 (-20.0%), from €42,875 to €34,295
- Trade debts +€198,327
up €198,327 (+134.8%), from €147,178 to €345,505
- Tax, wage and social debts +€148,550
up €148,550 (+410.9%), from €36,153 to €184,703
- Advances received +€138,220
up €138,220 (+133.9%), from €103,208 to €241,428
- Accrued charges and deferred income -€129,487
down €129,487 (-100.0%), from €129,487 to €0
- Profit (loss) carried forward +€14,681
up €14,681 (+85.1%), from €17,256 to €31,937
- Gross operating margin +€15,185
up €15,185 (+39.9%), from €38,055 to €53,240
- Depreciation +€12,396
up €12,396 (+92.5%), from €13,395 to €25,791
- Other operating charges +€7,643
up €7,643 (+1973.1%), from €387 to €8,030
- Taxes -€4,459
down €4,459 (-69.0%), from €6,463 to €2,004
- Financial charges +€2,195
up €2,195 (+371.6%), from €591 to €2,785
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 | €466,317 | €844,133 | +€377,816 | +81.0% |
| Fixed assets | 21/28 | €143,060 | €117,269 | -€25,791 | -18.0% |
| Intangible fixed assets | 21 | €42,875 | €34,295 | -€8,580 | -20.0% |
| Tangible fixed assets | 22/27 | €100,185 | €82,974 | -€17,211 | -17.2% |
| Plant, machinery and equipment | 23 | €100,185 | €82,974 | -€17,211 | -17.2% |
| Current assets | 29/58 | €323,258 | €726,865 | +€403,607 | +124.9% |
| Stocks and contracts in progress | 3 | - | €25,675 | +€25,675 | |
| Stocks | 30/36 | - | €25,675 | +€25,675 | |
| Amounts receivable within one year | 40/41 | €307,184 | €694,404 | +€387,220 | +126.1% |
| Trade receivables | 40 | €307,182 | €164,152 | -€143,031 | -46.6% |
| Other amounts receivable | 41 | €2 | €530,253 | +€530,251 | +25865886.8% |
| Cash at bank and in hand | 54/58 | €16,073 | €5,376 | -€10,698 | -66.6% |
| Deferred charges and accrued income | 490/1 | - | €1,409 | +€1,409 | |
| Total equity and liabilities | 10/49 | €466,317 | €844,133 | +€377,816 | +81.0% |
| Equity | 10/15 | €47,256 | €61,937 | +€14,681 | +31.1% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €17,256 | €31,937 | +€14,681 | +85.1% |
| Amounts payable | 17/49 | €419,062 | €782,196 | +€363,135 | +86.7% |
| Amounts payable within one year | 42/48 | €289,575 | €782,196 | +€492,622 | +170.1% |
| Trade debts | 44 | €147,178 | €345,505 | +€198,327 | +134.8% |
| Suppliers | 440/4 | €147,178 | €345,505 | +€198,327 | +134.8% |
| Advances received on contracts in progress | 46 | €103,208 | €241,428 | +€138,220 | +133.9% |
| Taxes, remuneration and social security | 45 | €36,153 | €184,703 | +€148,550 | +410.9% |
| Taxes | 450/3 | €36,153 | €184,703 | +€148,550 | +410.9% |
| Other amounts payable | 47/48 | €3,035 | €10,560 | +€7,525 | +247.9% |
| Accrued charges and deferred income | 492/3 | €129,487 | €0 | -€129,487 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,395 | €25,791 | +€12,396 | +92.5% |
| Other operating charges | 640/8 | €387 | €8,030 | +€7,643 | +1973.1% |
| Gross operating margin | 9900 | €38,055 | €53,240 | +€15,185 | +39.9% |
| Operating profit (loss) | 9901 | €24,273 | €19,419 | -€4,854 | -20.0% |
| Financial income | 75/76B | €37 | €52 | +€15 | +40.3% |
| Recurring financial income | 75 | €37 | €52 | +€15 | +40.3% |
| Financial charges | 65/66B | €591 | €2,785 | +€2,195 | +371.6% |
| Recurring financial charges | 65 | €591 | €2,785 | +€2,195 | +371.6% |
| Profit (loss) for the period before taxes | 9903 | €23,719 | €16,686 | -€7,033 | -29.7% |
| Income taxes | 67/77 | €6,463 | €2,004 | -€4,459 | -69.0% |
| Profit (loss) for the period | 9904 | €17,256 | €14,681 | -€2,574 | -14.9% |
| Profit (loss) for the period to be appropriated | 9905 | €17,256 | €14,681 | -€2,574 | -14.9% |
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 7 October 2026 via checked.be.