BT-Immo: 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-Immo
Largest movements
- Tangible fixed assets +€12,935
up €12,935 (+339.5%), from €3,810 to €16,745
of which Plant, machinery and equipment: +€8,130
- Cash +€1,847
up €1,847 (+10.8%), from €17,169 to €19,016
mainly Net result for the year (+€10,116) and Depreciation (+€5,260)
- Intangible fixed assets -€550
down €550 (-43.0%), from €1,279 to €729
- Receivables within one year -€409
down €409 (-9.0%), from €4,551 to €4,141
of which Trade receivables: -€264
- Reserves +€10,116
up €10,116 (+49.2%), from €20,543 to €30,659
- Debts after one year +€3,068
new in 2025: €3,068
- Current portion of long-term debt +€2,504
new in 2025: €2,504
- Other debts -€1,812
no longer reported in 2025 (was €1,812)
- Gross operating margin +€7,328
up €7,328 (+43.0%), from €17,041 to €24,369
- Taxes +€2,913
up €2,913 (+693.8%), from €420 to €3,333
- Depreciation +€1,051
up €1,051 (+25.0%), from €4,210 to €5,260
- Other operating charges +€423
up €423 (+91.0%), from €465 to €888
- Financial charges +€297
up €297 (+10.9%), from €2,729 to €3,026
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 | €26,809 | €40,631 | +€13,822 | +51.6% |
| Fixed assets | 21/28 | €5,089 | €17,474 | +€12,385 | +243.3% |
| Intangible fixed assets | 21 | €1,279 | €729 | -€550 | -43.0% |
| Tangible fixed assets | 22/27 | €3,810 | €16,745 | +€12,935 | +339.5% |
| Plant, machinery and equipment | 23 | €654 | €8,784 | +€8,130 | +1242.8% |
| Furniture and vehicles | 24 | €3,156 | €7,961 | +€4,805 | +152.2% |
| Current assets | 29/58 | €21,720 | €23,157 | +€1,437 | +6.6% |
| Amounts receivable within one year | 40/41 | €4,551 | €4,141 | -€409 | -9.0% |
| Trade receivables | 40 | €264 | - | -€264 | |
| Other amounts receivable | 41 | €4,287 | €4,141 | -€146 | -3.4% |
| Cash at bank and in hand | 54/58 | €17,169 | €19,016 | +€1,847 | +10.8% |
| Total equity and liabilities | 10/49 | €26,809 | €40,631 | +€13,822 | +51.6% |
| Equity | 10/15 | €24,543 | €34,659 | +€10,116 | +41.2% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €20,543 | €30,659 | +€10,116 | +49.2% |
| Distributable reserves | 133 | €20,543 | €30,659 | +€10,116 | +49.2% |
| Amounts payable | 17/49 | €2,266 | €5,972 | +€3,706 | +163.5% |
| Amounts payable after more than one year | 17 | - | €3,068 | +€3,068 | |
| Financial debts | 170/4 | - | €3,068 | +€3,068 | |
| Amounts payable within one year | 42/48 | €2,266 | €2,904 | +€637 | +28.1% |
| Current portion of amounts payable after more than one year | 42 | - | €2,504 | +€2,504 | |
| Trade debts | 44 | €455 | €400 | -€55 | -12.1% |
| Suppliers | 440/4 | €455 | €400 | -€55 | -12.1% |
| Other amounts payable | 47/48 | €1,812 | - | -€1,812 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,210 | €5,260 | +€1,051 | +25.0% |
| Other operating charges | 640/8 | €465 | €888 | +€423 | +91.0% |
| Non-recurring operating charges | 66A | - | €1,746 | +€1,746 | |
| Gross operating margin | 9900 | €17,041 | €24,369 | +€7,328 | +43.0% |
| Operating profit (loss) | 9901 | €12,367 | €16,476 | +€4,109 | +33.2% |
| Financial income | 75/76B | €0 | €0 | -€0 | -75.0% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -75.0% |
| Financial charges | 65/66B | €2,729 | €3,026 | +€297 | +10.9% |
| Recurring financial charges | 65 | €2,729 | €3,026 | +€297 | +10.9% |
| Profit (loss) for the period before taxes | 9903 | €9,638 | €13,449 | +€3,812 | +39.6% |
| Income taxes | 67/77 | €420 | €3,333 | +€2,913 | +693.8% |
| Profit (loss) for the period | 9904 | €9,218 | €10,116 | +€899 | +9.7% |
| Profit (loss) for the period to be appropriated | 9905 | €9,218 | €10,116 | +€899 | +9.7% |
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 2 October 2026 via checked.be.