BTL: 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.
BTL
Largest movements
- Cash +€19,766
up €19,766 (+356%), from €5,554 to €25,319
mainly Trade debts (+€6,598) and Stocks and contracts (+€5,811)
- Stocks and contracts -€5,811
down €5,811 (-8.1%), from €71,956 to €66,145
- Receivables within one year -€1,634
down €1,634 (-39.2%), from €4,170 to €2,536
of which Trade receivables: -€1,015
- Trade debts +€6,598
up €6,598 (+564%), from €1,170 to €7,768
- Accrued charges and deferred income +€5,206
new in 2025: €5,206
- Gross operating margin -€3,020
down €3,020 (-31.6%), from €9,562 to €6,542
- Financial charges -€324
down €324 (-22.7%), from €1,426 to €1,102
- Financial income -€230
down €230 (-38.3%), from €599 to €370
- Depreciation +€162
up €162 (+9.9%), from €1,638 to €1,800
- Other operating charges +€99
up €99 (+3.3%), from €3,019 to €3,118
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 | €87,723 | €100,740 | +€13,016 | +14.8% |
| Fixed assets | 21/28 | €5,458 | €6,095 | +€636 | +11.7% |
| Tangible fixed assets | 22/27 | €4,958 | €5,595 | +€636 | +12.8% |
| Plant, machinery and equipment | 23 | €4,958 | €3,321 | -€1,638 | -33.0% |
| Furniture and vehicles | 24 | - | €2,274 | +€2,274 | |
| Financial fixed assets | 28 | €500 | €500 | = | 0.0% |
| Current assets | 29/58 | €82,265 | €94,645 | +€12,380 | +15.0% |
| Stocks and contracts in progress | 3 | €71,956 | €66,145 | -€5,811 | -8.1% |
| Stocks | 30/36 | €71,956 | €66,145 | -€5,811 | -8.1% |
| Amounts receivable within one year | 40/41 | €4,170 | €2,536 | -€1,634 | -39.2% |
| Trade receivables | 40 | €2,820 | €1,805 | -€1,015 | -36.0% |
| Other amounts receivable | 41 | €1,350 | €732 | -€619 | -45.8% |
| Cash at bank and in hand | 54/58 | €5,554 | €25,319 | +€19,766 | +356% |
| Deferred charges and accrued income | 490/1 | €585 | €645 | +€60 | +10.2% |
| Total equity and liabilities | 10/49 | €87,723 | €100,740 | +€13,016 | +14.8% |
| Equity | 10/15 | -€115,406 | -€114,515 | +€891 | +0.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€134,006 | -€133,115 | +€891 | +0.7% |
| Amounts payable | 17/49 | €203,130 | €215,255 | +€12,125 | +6.0% |
| Amounts payable after more than one year | 17 | €201,928 | €202,251 | +€323 | +0.2% |
| Other amounts payable | 178/9 | €201,928 | €202,251 | +€323 | +0.2% |
| Amounts payable within one year | 42/48 | €1,202 | €7,797 | +€6,596 | +549% |
| Trade debts | 44 | €1,170 | €7,768 | +€6,598 | +564% |
| Suppliers | 440/4 | €1,170 | €7,768 | +€6,598 | +564% |
| Taxes, remuneration and social security | 45 | €31 | €29 | -€2 | -6.9% |
| Taxes | 450/3 | €31 | €29 | -€2 | -6.9% |
| Accrued charges and deferred income | 492/3 | - | €5,206 | +€5,206 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,638 | €1,800 | +€162 | +9.9% |
| Other operating charges | 640/8 | €3,019 | €3,118 | +€99 | +3.3% |
| Gross operating margin | 9900 | €9,562 | €6,542 | -€3,020 | -31.6% |
| Operating profit (loss) | 9901 | €4,905 | €1,623 | -€3,282 | -66.9% |
| Financial income | 75/76B | €599 | €370 | -€230 | -38.3% |
| Recurring financial income | 75 | €599 | €370 | -€230 | -38.3% |
| Financial charges | 65/66B | €1,426 | €1,102 | -€324 | -22.7% |
| Recurring financial charges | 65 | €1,426 | €1,102 | -€324 | -22.7% |
| Profit (loss) for the period before taxes | 9903 | €4,079 | €891 | -€3,187 | -78.1% |
| Profit (loss) for the period | 9904 | €4,079 | €891 | -€3,187 | -78.1% |
| Profit (loss) for the period to be appropriated | 9905 | €4,079 | €891 | -€3,187 | -78.1% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.