BTECS: 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.
BTECS
Largest movements
- Financial fixed assets +€104,000
up €104,000 (+250.6%), from €41,500 to €145,500
- Current investments -€27,641
down €27,641 (-51.1%), from €54,077 to €26,436
- Cash +€8,582
up €8,582 (+1275.2%), from €673 to €9,255
mainly Net result for the year (+€70,664) and Debts after one year (+€32,000)
- Reserves +€70,664
up €70,664 (+138.3%), from €51,111 to €121,774
- Debts after one year +€32,000
new in 2025: €32,000
- Tax, wage and social debts -€13,977
down €13,977 (-56.4%), from €24,763 to €10,786
of which Taxes: -€12,941
- Current portion of long-term debt -€10,549
no longer reported in 2025 (was €10,549)
- Short-term financial debts +€5,889
new in 2025: €5,889
- Financial income +€29,493
up €29,493 (+433.9%), from €6,797 to €36,289
of which Non-recurring financial income: +€27,500
- Gross operating margin +€27,088
up €27,088 (+82.7%), from €32,770 to €59,858
- Taxes +€4,119
up €4,119 (+44.8%), from €9,192 to €13,311
- Financial charges +€3,939
up €3,939 (+95.4%), from €4,130 to €8,069
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 | €121,239 | €206,648 | +€85,410 | +70.4% |
| Fixed assets | 21/28 | €41,925 | €145,500 | +€103,575 | +247.0% |
| Tangible fixed assets | 22/27 | €425 | - | -€425 | |
| Plant, machinery and equipment | 23 | €425 | - | -€425 | |
| Financial fixed assets | 28 | €41,500 | €145,500 | +€104,000 | +250.6% |
| Current assets | 29/58 | €79,313 | €61,148 | -€18,165 | -22.9% |
| Amounts receivable within one year | 40/41 | €18,251 | €17,940 | -€310 | -1.7% |
| Trade receivables | 40 | €18,251 | €17,940 | -€310 | -1.7% |
| Current investments | 50/53 | €54,077 | €26,436 | -€27,641 | -51.1% |
| Cash at bank and in hand | 54/58 | €673 | €9,255 | +€8,582 | +1275.2% |
| Deferred charges and accrued income | 490/1 | €6,313 | €7,517 | +€1,204 | +19.1% |
| Total equity and liabilities | 10/49 | €121,239 | €206,648 | +€85,410 | +70.4% |
| Equity | 10/15 | €54,111 | €124,774 | +€70,664 | +130.6% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €51,111 | €121,774 | +€70,664 | +138.3% |
| Distributable reserves | 133 | €51,111 | €121,774 | +€70,664 | +138.3% |
| Amounts payable | 17/49 | €67,128 | €81,874 | +€14,746 | +22.0% |
| Amounts payable after more than one year | 17 | - | €32,000 | +€32,000 | |
| Other amounts payable | 178/9 | - | €32,000 | +€32,000 | |
| Amounts payable within one year | 42/48 | €66,678 | €48,974 | -€17,704 | -26.6% |
| Current portion of amounts payable after more than one year | 42 | €10,549 | - | -€10,549 | |
| Financial debts | 43 | - | €5,889 | +€5,889 | |
| Credit institutions | 430/8 | - | €5,889 | +€5,889 | |
| Trade debts | 44 | €2,327 | €1,908 | -€420 | -18.0% |
| Suppliers | 440/4 | €2,327 | €1,908 | -€420 | -18.0% |
| Taxes, remuneration and social security | 45 | €24,763 | €10,786 | -€13,977 | -56.4% |
| Taxes | 450/3 | €20,350 | €7,409 | -€12,941 | -63.6% |
| Remuneration and social security | 454/9 | €4,413 | €3,377 | -€1,036 | -23.5% |
| Other amounts payable | 47/48 | €29,039 | €30,391 | +€1,353 | +4.7% |
| Accrued charges and deferred income | 492/3 | €450 | €900 | +€450 | +100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €845 | €425 | -€420 | -49.7% |
| Other operating charges | 640/8 | €591 | €830 | +€239 | +40.4% |
| Non-recurring operating charges | 66A | - | €2,848 | +€2,848 | |
| Gross operating margin | 9900 | €32,770 | €59,858 | +€27,088 | +82.7% |
| Operating profit (loss) | 9901 | €31,334 | €55,755 | +€24,420 | +77.9% |
| Financial income | 75/76B | €6,797 | €36,289 | +€29,493 | +433.9% |
| Recurring financial income | 75 | €1,797 | €3,789 | +€1,993 | +110.9% |
| Non-recurring financial income | 76B | €5,000 | €32,500 | +€27,500 | +550.0% |
| Financial charges | 65/66B | €4,130 | €8,069 | +€3,939 | +95.4% |
| Recurring financial charges | 65 | €4,130 | €8,069 | +€3,939 | +95.4% |
| Profit (loss) for the period before taxes | 9903 | €34,001 | €83,975 | +€49,974 | +147.0% |
| Income taxes | 67/77 | €9,192 | €13,311 | +€4,119 | +44.8% |
| Profit (loss) for the period | 9904 | €24,809 | €70,664 | +€45,855 | +184.8% |
| Profit (loss) for the period to be appropriated | 9905 | €24,809 | €70,664 | +€45,855 | +184.8% |
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 10 October 2026 via checked.be.