BTAS: 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.
BTAS
Largest movements
- Cash -€34,664
down €34,664 (-37.2%), from €93,262 to €58,598
mainly Net result for the year (-€41,095) and Receivables within one year (-€8,668)
- Receivables within one year +€8,668
up €8,668 (+2.9%), from €300,863 to €309,531
of which Trade receivables: +€7,891
- Profit (loss) carried forward -€41,095
down €41,095 (-18.4%), from €223,041 to €181,946
- Trade debts +€7,696
up €7,696 (+13941.9%), from €55 to €7,751
- Financial income -€63,591
down €63,591 (-73.6%), from €86,351 to €22,760
- Financial charges -€29,699
down €29,699 (-94.4%), from €31,467 to €1,768
- Gross operating margin -€19,258
down €19,258 (-45.8%), from -€42,021 to -€61,279
- Depreciation -€19,178
no longer reported in 2025 (was €19,178)
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 | €604,188 | €573,243 | -€30,945 | -5.1% |
| Current assets | 29/58 | €604,188 | €573,243 | -€30,945 | -5.1% |
| Amounts receivable after more than one year | 29 | €15,000 | €15,000 | = | 0.0% |
| Other amounts receivable | 291 | €15,000 | €15,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €300,863 | €309,531 | +€8,668 | +2.9% |
| Trade receivables | 40 | €300,000 | €307,891 | +€7,891 | +2.6% |
| Other amounts receivable | 41 | €863 | €1,639 | +€777 | +90.0% |
| Current investments | 50/53 | €189,807 | €186,632 | -€3,175 | -1.7% |
| Cash at bank and in hand | 54/58 | €93,262 | €58,598 | -€34,664 | -37.2% |
| Deferred charges and accrued income | 490/1 | €5,256 | €3,482 | -€1,774 | -33.8% |
| Total equity and liabilities | 10/49 | €604,188 | €573,243 | -€30,945 | -5.1% |
| Equity | 10/15 | €353,041 | €311,946 | -€41,095 | -11.6% |
| Contributions | 10/11 | €130,000 | €130,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €223,041 | €181,946 | -€41,095 | -18.4% |
| Amounts payable | 17/49 | €251,147 | €261,297 | +€10,150 | +4.0% |
| Amounts payable after more than one year | 17 | €200,000 | €200,000 | = | 0.0% |
| Financial debts | 170/4 | €200,000 | €200,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €51,147 | €61,297 | +€10,150 | +19.8% |
| Trade debts | 44 | €55 | €7,751 | +€7,696 | +13941.9% |
| Suppliers | 440/4 | €55 | €7,751 | +€7,696 | +13941.9% |
| Other amounts payable | 47/48 | €51,092 | €53,546 | +€2,454 | +4.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,178 | - | -€19,178 | |
| Other operating charges | 640/8 | €505 | €527 | +€22 | +4.4% |
| Gross operating margin | 9900 | -€42,021 | -€61,279 | -€19,258 | -45.8% |
| Operating profit (loss) | 9901 | -€61,704 | -€61,806 | -€102 | -0.2% |
| Financial income | 75/76B | €86,351 | €22,760 | -€63,591 | -73.6% |
| Recurring financial income | 75 | €86,351 | €22,760 | -€63,591 | -73.6% |
| Financial charges | 65/66B | €31,467 | €1,768 | -€29,699 | -94.4% |
| Recurring financial charges | 65 | €31,467 | €1,768 | -€29,699 | -94.4% |
| Profit (loss) for the period before taxes | 9903 | -€6,820 | -€40,814 | -€33,994 | -498.4% |
| Income taxes | 67/77 | €623 | €280 | -€342 | -55.0% |
| Profit (loss) for the period | 9904 | -€7,443 | -€41,095 | -€33,652 | -452.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€7,443 | -€41,095 | -€33,652 | -452.1% |
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 1 October 2026 via checked.be.