BTIO: what changed
BTIO
Largest movements
- Cash +€95,367
up €95,367 (+177%), from €53,892 to €149,258
mainly Net result for the year (+€82,212) and Trade debts (+€11,397)
- Receivables within one year -€9,458
down €9,458 (-17.4%), from €54,417 to €44,959
of which Other amounts receivable: -€9,771
- Deferred charges and accrued income +€2,813
up €2,813 (+226%), from €1,244 to €4,057
- Reserves +€82,212
up €82,212 (+92.7%), from €88,663 to €170,875
- Trade debts +€11,397
up €11,397 (+141%), from €8,111 to €19,508
- Tax, wage and social debts -€9,658
down €9,658 (-52.1%), from €18,533 to €8,876
- Other debts +€6,582
new in 2025: €6,582
- Accrued charges and deferred income -€2,561
no longer reported in 2025 (was €2,561)
- Gross operating margin +€39,944
up €39,944 (+49.2%), from €81,199 to €121,144
- Staff costs +€13,580
new in 2025: €13,580
- Other operating charges -€1,734
down €1,734 (-61.1%), from €2,838 to €1,103
- Taxes +€1,642
up €1,642 (+8.5%), from €19,282 to €20,924
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €120,368 | €208,340 | +€87,972 | +73.1% |
| Fixed assets | 21/28 | €10,815 | €10,066 | -€749 | -6.9% |
| Tangible fixed assets | 22/27 | €10,815 | €10,066 | -€749 | -6.9% |
| Plant, machinery and equipment | 23 | €4,415 | €5,471 | +€1,056 | +23.9% |
| Furniture and vehicles | 24 | €6,400 | €4,595 | -€1,805 | -28.2% |
| Current assets | 29/58 | €109,553 | €198,274 | +€88,721 | +81.0% |
| Amounts receivable within one year | 40/41 | €54,417 | €44,959 | -€9,458 | -17.4% |
| Trade receivables | 40 | €27,544 | €27,857 | +€313 | +1.1% |
| Other amounts receivable | 41 | €26,873 | €17,102 | -€9,771 | -36.4% |
| Cash at bank and in hand | 54/58 | €53,892 | €149,258 | +€95,367 | +177% |
| Deferred charges and accrued income | 490/1 | €1,244 | €4,057 | +€2,813 | +226% |
| Total equity and liabilities | 10/49 | €120,368 | €208,340 | +€87,972 | +73.1% |
| Equity | 10/15 | €91,163 | €173,375 | +€82,212 | +90.2% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €88,663 | €170,875 | +€82,212 | +92.7% |
| Distributable reserves | 133 | €88,663 | €170,875 | +€82,212 | +92.7% |
| Amounts payable | 17/49 | €29,205 | €34,966 | +€5,761 | +19.7% |
| Amounts payable within one year | 42/48 | €26,644 | €34,966 | +€8,322 | +31.2% |
| Trade debts | 44 | €8,111 | €19,508 | +€11,397 | +141% |
| Suppliers | 440/4 | €8,111 | €19,508 | +€11,397 | +141% |
| Taxes, remuneration and social security | 45 | €18,533 | €8,876 | -€9,658 | -52.1% |
| Taxes | 450/3 | €18,533 | €8,876 | -€9,658 | -52.1% |
| Other amounts payable | 47/48 | - | €6,582 | +€6,582 | |
| Accrued charges and deferred income | 492/3 | €2,561 | - | -€2,561 | |
| Remuneration, social security and pensions | 62 | - | €13,580 | +€13,580 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,334 | €4,465 | +€1,131 | +33.9% |
| Other operating charges | 640/8 | €2,838 | €1,103 | -€1,734 | -61.1% |
| Gross operating margin | 9900 | €81,199 | €121,144 | +€39,944 | +49.2% |
| Operating profit (loss) | 9901 | €75,027 | €101,995 | +€26,968 | +35.9% |
| Financial income | 75/76B | €2,264 | €1,282 | -€983 | -43.4% |
| Recurring financial income | 75 | €2,264 | €1,282 | -€983 | -43.4% |
| Financial charges | 65/66B | €140 | €141 | +€2 | +1.2% |
| Recurring financial charges | 65 | €140 | €141 | +€2 | +1.2% |
| Profit (loss) for the period before taxes | 9903 | €77,152 | €103,136 | +€25,984 | +33.7% |
| Income taxes | 67/77 | €19,282 | €20,924 | +€1,642 | +8.5% |
| Profit (loss) for the period | 9904 | €57,870 | €82,212 | +€24,342 | +42.1% |
| Profit (loss) for the period to be appropriated | 9905 | €57,870 | €82,212 | +€24,342 | +42.1% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.