BTH CONSULTING: 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.
BTH CONSULTING
Largest movements
- Receivables within one year -€21,430
down €21,430 (-34.4%), from €62,335 to €40,905
of which Other amounts receivable: -€20,643
- Tangible fixed assets -€9,509
down €9,509 (-15.0%), from €63,392 to €53,883
of which Furniture and vehicles: -€7,730
- Financial fixed assets +€8,086
up €8,086 (+6.7%), from €120,748 to €128,834
- Cash +€3,795
up €3,795 (+173%), from €2,196 to €5,991
mainly Net result for the year (+€54,873) and Receivables within one year (+€21,430)
- Other debts -€67,193
no longer reported in 2025 (was €67,193)
- Profit (loss) carried forward +€54,873
up €54,873 (+68.3%), from €80,377 to €135,250
- Current portion of long-term debt -€24,018
down €24,018 (-71.7%), from €33,479 to €9,461
- Short-term financial debts +€21,236
new in 2025: €21,236
- Debts after one year -€9,461
down €9,461 (-23.6%), from €40,015 to €30,554
- Gross operating margin -€29,081
down €29,081 (-24.4%), from €119,274 to €90,193
- Taxes -€9,373
down €9,373 (-30.4%), from €30,849 to €21,476
- Depreciation +€6,633
up €6,633 (+102%), from €6,476 to €13,109
- Financial charges +€1,538
up €1,538 (+229%), from €671 to €2,208
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 | €253,457 | €234,804 | -€18,654 | -7.4% |
| Fixed assets | 21/28 | €184,140 | €182,717 | -€1,423 | -0.8% |
| Tangible fixed assets | 22/27 | €63,392 | €53,883 | -€9,509 | -15.0% |
| Plant, machinery and equipment | 23 | €14,645 | €12,866 | -€1,779 | -12.1% |
| Furniture and vehicles | 24 | €48,748 | €41,018 | -€7,730 | -15.9% |
| Financial fixed assets | 28 | €120,748 | €128,834 | +€8,086 | +6.7% |
| Current assets | 29/58 | €69,317 | €52,086 | -€17,231 | -24.9% |
| Amounts receivable within one year | 40/41 | €62,335 | €40,905 | -€21,430 | -34.4% |
| Trade receivables | 40 | €1,043 | €256 | -€787 | -75.5% |
| Other amounts receivable | 41 | €61,292 | €40,649 | -€20,643 | -33.7% |
| Cash at bank and in hand | 54/58 | €2,196 | €5,991 | +€3,795 | +173% |
| Deferred charges and accrued income | 490/1 | €4,786 | €5,190 | +€404 | +8.4% |
| Total equity and liabilities | 10/49 | €253,457 | €234,804 | -€18,654 | -7.4% |
| Equity | 10/15 | €100,873 | €155,746 | +€54,873 | +54.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,896 | €1,896 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,896 | €1,896 | = | 0.0% |
| Profit (loss) carried forward | 14 | €80,377 | €135,250 | +€54,873 | +68.3% |
| Amounts payable | 17/49 | €152,584 | €79,058 | -€73,527 | -48.2% |
| Amounts payable after more than one year | 17 | €40,015 | €30,554 | -€9,461 | -23.6% |
| Financial debts | 170/4 | €40,015 | €30,554 | -€9,461 | -23.6% |
| Amounts payable within one year | 42/48 | €108,125 | €35,542 | -€72,583 | -67.1% |
| Current portion of amounts payable after more than one year | 42 | €33,479 | €9,461 | -€24,018 | -71.7% |
| Financial debts | 43 | - | €21,236 | +€21,236 | |
| Credit institutions | 430/8 | - | €21,236 | +€21,236 | |
| Trade debts | 44 | €1,162 | €2,421 | +€1,258 | +108% |
| Suppliers | 440/4 | €1,162 | €2,421 | +€1,258 | +108% |
| Taxes, remuneration and social security | 45 | €6,290 | €2,424 | -€3,866 | -61.5% |
| Taxes | 450/3 | €6,290 | €2,424 | -€3,866 | -61.5% |
| Other amounts payable | 47/48 | €67,193 | - | -€67,193 | |
| Accrued charges and deferred income | 492/3 | €4,445 | €12,962 | +€8,517 | +192% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,476 | €13,109 | +€6,633 | +102% |
| Gross operating margin | 9900 | €119,274 | €90,193 | -€29,081 | -24.4% |
| Operating profit (loss) | 9901 | €112,798 | €77,084 | -€35,715 | -31.7% |
| Financial income | 75/76B | €1,101 | €1,474 | +€373 | +33.9% |
| Recurring financial income | 75 | €1,101 | €1,474 | +€373 | +33.9% |
| Financial charges | 65/66B | €671 | €2,208 | +€1,538 | +229% |
| Recurring financial charges | 65 | €671 | €2,208 | +€1,538 | +229% |
| Profit (loss) for the period before taxes | 9903 | €113,229 | €76,350 | -€36,879 | -32.6% |
| Income taxes | 67/77 | €30,849 | €21,476 | -€9,373 | -30.4% |
| Profit (loss) for the period | 9904 | €82,380 | €54,873 | -€27,506 | -33.4% |
| Profit (loss) for the period to be appropriated | 9905 | €82,380 | €54,873 | -€27,506 | -33.4% |
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 13 October 2026 via checked.be.