BTC BELGIUM: 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.
BTC BELGIUM
Largest movements
- Receivables within one year -€78,890
down €78,890 (-15.4%), from €512,728 to €433,838
of which Other amounts receivable: -€92,764
- Tangible fixed assets +€23,193
up €23,193 (+588%), from €3,942 to €27,135
of which Furniture and vehicles: +€23,924
- Cash +€6,612
up €6,612 (+29.0%), from €22,811 to €29,422
mainly Receivables within one year (+€78,890) and Debts after one year (+€19,831)
- Trade debts -€87,675
down €87,675 (-99.8%), from €87,826 to €151
- Debts after one year +€19,831
new in 2025: €19,831
- Profit (loss) carried forward +€10,813
up €10,813 (+2.6%), from €412,740 to €423,553
- Current portion of long-term debt +€6,921
new in 2025: €6,921
- Gross operating margin +€14,985
up €14,985, from -€13,158 to €1,826
- Financial income +€4,360
up €4,360 (+23.3%), from €18,676 to €23,036
- Taxes +€3,983
new in 2025: €3,983
- Financial charges +€3,508
up €3,508 (+564%), from €622 to €4,130
of which Non-recurring financial charges: +€2,772
- Other operating charges +€1,483
up €1,483 (+187%), from €794 to €2,276
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 | €542,665 | €490,670 | -€51,995 | -9.6% |
| Fixed assets | 21/28 | €3,942 | €27,135 | +€23,193 | +588% |
| Tangible fixed assets | 22/27 | €3,942 | €27,135 | +€23,193 | +588% |
| Plant, machinery and equipment | 23 | €349 | €83 | -€266 | -76.3% |
| Furniture and vehicles | 24 | €1,740 | €25,665 | +€23,924 | +1,375% |
| Other tangible fixed assets | 26 | €1,853 | €1,387 | -€465 | -25.1% |
| Current assets | 29/58 | €538,723 | €463,536 | -€75,187 | -14.0% |
| Amounts receivable within one year | 40/41 | €512,728 | €433,838 | -€78,890 | -15.4% |
| Trade receivables | 40 | €13,000 | €26,874 | +€13,874 | +107% |
| Other amounts receivable | 41 | €499,728 | €406,964 | -€92,764 | -18.6% |
| Cash at bank and in hand | 54/58 | €22,811 | €29,422 | +€6,612 | +29.0% |
| Deferred charges and accrued income | 490/1 | €3,185 | €276 | -€2,909 | -91.3% |
| Total equity and liabilities | 10/49 | €542,665 | €490,670 | -€51,995 | -9.6% |
| Equity | 10/15 | €420,902 | €431,715 | +€10,813 | +2.6% |
| Contributions | 10/11 | €6,307 | €6,307 | = | 0.0% |
| Capital | 10 | €6,307 | €6,307 | = | 0.0% |
| Issued capital | 100 | €18,550 | €18,550 | = | 0.0% |
| Uncalled capital | 101 | €12,243 | €12,243 | = | 0.0% |
| Reserves | 13 | €1,855 | €1,855 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Legal reserve | 130 | €1,855 | €1,855 | = | 0.0% |
| Profit (loss) carried forward | 14 | €412,740 | €423,553 | +€10,813 | +2.6% |
| Amounts payable | 17/49 | €121,763 | €58,955 | -€62,808 | -51.6% |
| Amounts payable after more than one year | 17 | - | €19,831 | +€19,831 | |
| Financial debts | 170/4 | - | €19,831 | +€19,831 | |
| Amounts payable within one year | 42/48 | €121,763 | €39,124 | -€82,639 | -67.9% |
| Current portion of amounts payable after more than one year | 42 | - | €6,921 | +€6,921 | |
| Trade debts | 44 | €87,826 | €151 | -€87,675 | -99.8% |
| Suppliers | 440/4 | €87,826 | €151 | -€87,675 | -99.8% |
| Taxes, remuneration and social security | 45 | €33,937 | €32,052 | -€1,885 | -5.6% |
| Taxes | 450/3 | €33,937 | €32,052 | -€1,885 | -5.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,214 | €3,272 | +€1,057 | +47.7% |
| Other operating charges | 640/8 | €794 | €2,276 | +€1,483 | +187% |
| Non-recurring operating charges | 66A | - | €106 | +€106 | |
| Gross operating margin | 9900 | -€13,158 | €1,826 | +€14,985 | |
| Operating profit (loss) | 9901 | -€16,166 | -€3,828 | +€12,339 | +76.3% |
| Financial income | 75/76B | €18,676 | €23,036 | +€4,360 | +23.3% |
| Recurring financial income | 75 | €18,676 | €23,036 | +€4,360 | +23.3% |
| Financial charges | 65/66B | €622 | €4,130 | +€3,508 | +564% |
| Recurring financial charges | 65 | €622 | €1,358 | +€735 | +118% |
| Non-recurring financial charges | 66B | - | €2,772 | +€2,772 | |
| Profit (loss) for the period before taxes | 9903 | €1,887 | €15,078 | +€13,191 | +699% |
| Income taxes | 67/77 | - | €3,983 | +€3,983 | |
| Profit (loss) for the period | 9904 | €1,887 | €11,095 | +€9,208 | +488% |
| Profit (loss) for the period to be appropriated | 9905 | €1,887 | €11,095 | +€9,208 | +488% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.