Bt&S: 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&S
Largest movements
- Receivables within one year +€109,577
new in 2025: €109,577
of which Trade receivables: +€61,612
- Receivables after one year -€66,011
no longer reported in 2025 (was €66,011)
of which Trade receivables: -€42,172
- Cash -€7,388
down €7,388 (-63.3%), from €11,664 to €4,276
mainly Receivables within one year (-€109,577) and Contributions, distributions and other (-€20,000)
- Profit (loss) carried forward +€27,239
up €27,239 (+68.4%), from €39,799 to €67,038
- Tax, wage and social debts +€6,395
up €6,395 (+54.4%), from €11,753 to €18,148
- Accrued charges and deferred income +€2,250
up €2,250 (+100%), from €2,250 to €4,500
- Gross operating margin -€12,471
down €12,471 (-17.6%), from €70,975 to €58,504
- Taxes -€712
down €712 (-7.2%), from €9,950 to €9,238
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 | €78,802 | €114,730 | +€35,928 | +45.6% |
| Fixed assets | 21/28 | €1,127 | €877 | -€250 | -22.2% |
| Tangible fixed assets | 22/27 | €1,127 | €877 | -€250 | -22.2% |
| Plant, machinery and equipment | 23 | €1,127 | €877 | -€250 | -22.2% |
| Current assets | 29/58 | €77,675 | €113,853 | +€36,178 | +46.6% |
| Amounts receivable after more than one year | 29 | €66,011 | - | -€66,011 | |
| Trade receivables | 290 | €42,172 | - | -€42,172 | |
| Other amounts receivable | 291 | €23,839 | - | -€23,839 | |
| Amounts receivable within one year | 40/41 | - | €109,577 | +€109,577 | |
| Trade receivables | 40 | - | €61,612 | +€61,612 | |
| Other amounts receivable | 41 | - | €47,965 | +€47,965 | |
| Cash at bank and in hand | 54/58 | €11,664 | €4,276 | -€7,388 | -63.3% |
| Total equity and liabilities | 10/49 | €78,802 | €114,730 | +€35,928 | +45.6% |
| Equity | 10/15 | €44,799 | €72,038 | +€27,239 | +60.8% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €39,799 | €67,038 | +€27,239 | +68.4% |
| Amounts payable | 17/49 | €34,003 | €42,692 | +€8,689 | +25.6% |
| Amounts payable within one year | 42/48 | €31,753 | €38,192 | +€6,439 | +20.3% |
| Trade debts | 44 | - | €44 | +€44 | |
| Suppliers | 440/4 | - | €44 | +€44 | |
| Taxes, remuneration and social security | 45 | €11,753 | €18,148 | +€6,395 | +54.4% |
| Taxes | 450/3 | €11,753 | €18,148 | +€6,395 | +54.4% |
| Other amounts payable | 47/48 | €20,000 | €20,000 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €2,250 | €4,500 | +€2,250 | +100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €123 | €250 | +€127 | +103% |
| Other operating charges | 640/8 | €961 | €1,406 | +€445 | +46.3% |
| Gross operating margin | 9900 | €70,975 | €58,504 | -€12,471 | -17.6% |
| Operating profit (loss) | 9901 | €69,891 | €56,848 | -€13,043 | -18.7% |
| Financial income | 75/76B | €30 | - | -€30 | |
| Recurring financial income | 75 | €30 | - | -€30 | |
| Financial charges | 65/66B | €172 | €371 | +€199 | +116% |
| Recurring financial charges | 65 | €172 | €371 | +€199 | +116% |
| Profit (loss) for the period before taxes | 9903 | €69,749 | €56,477 | -€13,272 | -19.0% |
| Income taxes | 67/77 | €9,950 | €9,238 | -€712 | -7.2% |
| Profit (loss) for the period | 9904 | €59,799 | €47,239 | -€12,560 | -21.0% |
| Profit (loss) for the period to be appropriated | 9905 | €59,799 | €47,239 | -€12,560 | -21.0% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.