BTM Management: 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.
BTM Management
Largest movements
- Tangible fixed assets +€24,226
up €24,226 (+7.3%), from €333,375 to €357,600
of which Land and buildings: +€34,134
- Cash +€17,230
up €17,230 (+175%), from €9,864 to €27,093
mainly Depreciation (+€47,349) and Net result for the year (+€36,316)
- Intangible fixed assets -€16,667
no longer reported in 2025 (was €16,667)
- Debts after one year -€29,921
down €29,921 (-11.3%), from €265,544 to €235,623
- Reserves +€21,000
new in 2025: €21,000
- Other debts +€12,225
up €12,225 (+411%), from €2,972 to €15,197
- Trade debts +€8,568
up €8,568 (+904%), from €948 to €9,516
- Accrued charges and deferred income +€4,641
new in 2025: €4,641
- Gross operating margin +€49,045
up €49,045 (+48.9%), from €100,281 to €149,326
- Turnover +€39,647
up €39,647 (+23.1%), from €171,858 to €211,505
- Depreciation +€9,868
up €9,868 (+26.3%), from €37,480 to €47,349
- Purchases and services -€9,398
down €9,398 (-13.1%), from €71,577 to €62,180
- Other operating charges +€4,313
up €4,313 (+118%), from €3,660 to €7,972
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 | €362,193 | €384,834 | +€22,641 | +6.3% |
| Fixed assets | 21/28 | €350,041 | €357,600 | +€7,559 | +2.2% |
| Intangible fixed assets | 21 | €16,667 | - | -€16,667 | |
| Tangible fixed assets | 22/27 | €333,375 | €357,600 | +€24,226 | +7.3% |
| Land and buildings | 22 | €309,295 | €343,429 | +€34,134 | +11.0% |
| Plant, machinery and equipment | 23 | €5,187 | - | -€5,187 | |
| Furniture and vehicles | 24 | €18,893 | €14,171 | -€4,722 | -25.0% |
| Current assets | 29/58 | €12,152 | €27,234 | +€15,082 | +124% |
| Amounts receivable within one year | 40/41 | €2,288 | €141 | -€2,147 | -93.9% |
| Other amounts receivable | 41 | €2,288 | €141 | -€2,147 | -93.9% |
| Cash at bank and in hand | 54/58 | €9,864 | €27,093 | +€17,230 | +175% |
| Total equity and liabilities | 10/49 | €362,193 | €384,834 | +€22,641 | +6.3% |
| Equity | 10/15 | €41,141 | €62,457 | +€21,316 | +51.8% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | - | €21,000 | +€21,000 | |
| Distributable reserves | 133 | - | €21,000 | +€21,000 | |
| Profit (loss) carried forward | 14 | €36,141 | €36,457 | +€316 | +0.9% |
| Amounts payable | 17/49 | €321,052 | €322,377 | +€1,325 | +0.4% |
| Amounts payable after more than one year | 17 | €265,544 | €235,623 | -€29,921 | -11.3% |
| Financial debts | 170/4 | €265,544 | €235,623 | -€29,921 | -11.3% |
| Amounts payable within one year | 42/48 | €55,508 | €82,114 | +€26,605 | +47.9% |
| Current portion of amounts payable after more than one year | 42 | €28,622 | €29,921 | +€1,299 | +4.5% |
| Trade debts | 44 | €948 | €9,516 | +€8,568 | +904% |
| Suppliers | 440/4 | €948 | €9,516 | +€8,568 | +904% |
| Taxes, remuneration and social security | 45 | €22,967 | €27,480 | +€4,514 | +19.7% |
| Taxes | 450/3 | €10,053 | €14,152 | +€4,099 | +40.8% |
| Remuneration and social security | 454/9 | €12,914 | €13,328 | +€414 | +3.2% |
| Other amounts payable | 47/48 | €2,972 | €15,197 | +€12,225 | +411% |
| Accrued charges and deferred income | 492/3 | - | €4,641 | +€4,641 | |
| Turnover | 70 | €171,858 | €211,505 | +€39,647 | +23.1% |
| Goods, raw materials, services and sundry goods | 60/61 | €71,577 | €62,180 | -€9,398 | -13.1% |
| Remuneration, social security and pensions | 62 | €37,401 | €41,425 | +€4,024 | +10.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,480 | €47,349 | +€9,868 | +26.3% |
| Other operating charges | 640/8 | €3,660 | €7,972 | +€4,313 | +118% |
| Gross operating margin | 9900 | €100,281 | €149,326 | +€49,045 | +48.9% |
| Operating profit (loss) | 9901 | €21,740 | €52,580 | +€30,839 | +142% |
| Financial income | 75/76B | €503 | - | -€503 | |
| Recurring financial income | 75 | €503 | - | -€503 | |
| Financial charges | 65/66B | €7,937 | €11,766 | +€3,829 | +48.2% |
| Recurring financial charges | 65 | €7,937 | €11,766 | +€3,829 | +48.2% |
| Profit (loss) for the period before taxes | 9903 | €14,306 | €40,813 | +€26,507 | +185% |
| Income taxes | 67/77 | €375 | €4,498 | +€4,123 | +1,100% |
| Profit (loss) for the period | 9904 | €13,932 | €36,316 | +€22,384 | +161% |
| Profit (loss) for the period to be appropriated | 9905 | €13,932 | €36,316 | +€22,384 | +161% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.