BTER: 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.
BTER
Largest movements
- Cash +€24,542
up €24,542 (+55.6%), from €44,126 to €68,668
mainly Net result for the year (+€38,004) and Receivables within one year (+€12,990)
- Receivables within one year -€12,990
down €12,990 (-14.2%), from €91,426 to €78,436
of which Trade receivables: -€21,796
- Reserves +€38,004
up €38,004 (+50.2%), from €75,642 to €113,646
of which Distributable reserves: +€38,813
- Other debts -€13,980
down €13,980 (-100.0%), from €13,980 to €0
- Tax, wage and social debts -€12,309
down €12,309 (-48.1%), from €25,603 to €13,294
- Gross operating margin -€25,818
down €25,818 (-34.6%), from €74,582 to €48,764
- Taxes -€5,166
down €5,166 (-32.3%), from €16,004 to €10,838
- Other operating charges -€938
down €938 (-62.0%), from €1,513 to €575
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 | €137,390 | €149,274 | +€11,884 | +8.7% |
| Fixed assets | 21/28 | €712 | €227 | -€485 | -68.1% |
| Tangible fixed assets | 22/27 | €712 | €227 | -€485 | -68.1% |
| Furniture and vehicles | 24 | €712 | €227 | -€485 | -68.1% |
| Current assets | 29/58 | €136,678 | €149,047 | +€12,369 | +9.0% |
| Amounts receivable within one year | 40/41 | €91,426 | €78,436 | -€12,990 | -14.2% |
| Trade receivables | 40 | €62,920 | €41,124 | -€21,796 | -34.6% |
| Other amounts receivable | 41 | €28,506 | €37,313 | +€8,806 | +30.9% |
| Cash at bank and in hand | 54/58 | €44,126 | €68,668 | +€24,542 | +55.6% |
| Deferred charges and accrued income | 490/1 | €1,126 | €1,943 | +€817 | +72.5% |
| Total equity and liabilities | 10/49 | €137,390 | €149,274 | +€11,884 | +8.7% |
| Equity | 10/15 | €88,042 | €126,046 | +€38,004 | +43.2% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €75,642 | €113,646 | +€38,004 | +50.2% |
| Non-distributable reserves | 130/1 | €809 | €0 | -€809 | -100.0% |
| Reserves not available under the articles | 1311 | €809 | €0 | -€809 | -100.0% |
| Distributable reserves | 133 | €74,833 | €113,646 | +€38,813 | +51.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €49,348 | €23,228 | -€26,120 | -52.9% |
| Amounts payable within one year | 42/48 | €43,948 | €17,828 | -€26,120 | -59.4% |
| Trade debts | 44 | €4,365 | €4,534 | +€169 | +3.9% |
| Suppliers | 440/4 | €4,365 | €4,534 | +€169 | +3.9% |
| Taxes, remuneration and social security | 45 | €25,603 | €13,294 | -€12,309 | -48.1% |
| Taxes | 450/3 | €25,603 | €13,294 | -€12,309 | -48.1% |
| Other amounts payable | 47/48 | €13,980 | €0 | -€13,980 | -100.0% |
| Accrued charges and deferred income | 492/3 | €5,400 | €5,400 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €485 | €485 | +€0 | 0.0% |
| Other operating charges | 640/8 | €1,513 | €575 | -€938 | -62.0% |
| Gross operating margin | 9900 | €74,582 | €48,764 | -€25,818 | -34.6% |
| Operating profit (loss) | 9901 | €72,585 | €47,705 | -€24,880 | -34.3% |
| Financial income | 75/76B | €987 | €1,279 | +€292 | +29.6% |
| Recurring financial income | 75 | €987 | €1,279 | +€292 | +29.6% |
| Financial charges | 65/66B | €159 | €142 | -€17 | -10.9% |
| Recurring financial charges | 65 | €159 | €142 | -€17 | -10.9% |
| Profit (loss) for the period before taxes | 9903 | €73,413 | €48,842 | -€24,571 | -33.5% |
| Income taxes | 67/77 | €16,004 | €10,838 | -€5,166 | -32.3% |
| Profit (loss) for the period | 9904 | €57,409 | €38,004 | -€19,405 | -33.8% |
| Profit (loss) for the period to be appropriated | 9905 | €57,409 | €38,004 | -€19,405 | -33.8% |
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 11 October 2026 via checked.be.