BTMAINTENANCE: 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.
BTMAINTENANCE
Largest movements
- Tangible fixed assets -€17,747
down €17,747 (-60.8%), from €29,172 to €11,425
of which Plant, machinery and equipment: -€14,165
- Cash +€13,373
up €13,373 (+429%), from €3,116 to €16,490
mainly Investment in fixed assets (net) (+€12,660) and Other debts (+€10,704)
- Stocks and contracts +€8,013
new in 2025: €8,013
- Deferred charges and accrued income +€6,364
new in 2025: €6,364
- Receivables within one year +€2,388
up €2,388 (+41.1%), from €5,812 to €8,200
of which Trade receivables: +€5,526
- Other debts +€10,704
up €10,704 (+3,475%), from €308 to €11,012
- Trade debts +€4,164
up €4,164 (+778%), from €535 to €4,700
- Tax, wage and social debts -€3,383
down €3,383 (-64.2%), from €5,269 to €1,886
of which Taxes: -€2,614
- Gross operating margin -€31,004
down €31,004 (-70.0%), from €44,318 to €13,314
- Taxes -€13,114
down €13,114, from €10,500 to -€2,614
- Staff costs +€5,970
up €5,970 (+776%), from €770 to €6,739
- Other operating charges +€2,802
up €2,802 (+569%), from €493 to €3,295
- Depreciation +€2,788
up €2,788 (+98.3%), from €2,836 to €5,623
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 | €38,841 | €50,697 | +€11,855 | +30.5% |
| Formation expenses | 20 | €536 | - | -€536 | |
| Fixed assets | 21/28 | €29,377 | €11,630 | -€17,747 | -60.4% |
| Tangible fixed assets | 22/27 | €29,172 | €11,425 | -€17,747 | -60.8% |
| Plant, machinery and equipment | 23 | €19,473 | €5,307 | -€14,165 | -72.7% |
| Furniture and vehicles | 24 | €9,699 | €6,118 | -€3,581 | -36.9% |
| Financial fixed assets | 28 | €205 | €205 | = | 0.0% |
| Current assets | 29/58 | €8,928 | €39,066 | +€30,138 | +338% |
| Stocks and contracts in progress | 3 | - | €8,013 | +€8,013 | |
| Stocks | 30/36 | - | €8,013 | +€8,013 | |
| Amounts receivable within one year | 40/41 | €5,812 | €8,200 | +€2,388 | +41.1% |
| Trade receivables | 40 | €1,436 | €6,962 | +€5,526 | +385% |
| Other amounts receivable | 41 | €4,376 | €1,238 | -€3,138 | -71.7% |
| Cash at bank and in hand | 54/58 | €3,116 | €16,490 | +€13,373 | +429% |
| Deferred charges and accrued income | 490/1 | - | €6,364 | +€6,364 | |
| Total equity and liabilities | 10/49 | €38,841 | €50,697 | +€11,855 | +30.5% |
| Equity | 10/15 | €32,728 | €33,099 | +€371 | +1.1% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €29,728 | €30,099 | +€371 | +1.2% |
| Amounts payable | 17/49 | €6,113 | €17,597 | +€11,485 | +188% |
| Amounts payable within one year | 42/48 | €6,113 | €17,597 | +€11,485 | +188% |
| Trade debts | 44 | €535 | €4,700 | +€4,164 | +778% |
| Suppliers | 440/4 | €535 | €4,700 | +€4,164 | +778% |
| Taxes, remuneration and social security | 45 | €5,269 | €1,886 | -€3,383 | -64.2% |
| Taxes | 450/3 | €4,500 | €1,886 | -€2,614 | -58.1% |
| Remuneration and social security | 454/9 | €769 | - | -€769 | |
| Other amounts payable | 47/48 | €308 | €11,012 | +€10,704 | +3,475% |
| Remuneration, social security and pensions | 62 | €770 | €6,739 | +€5,970 | +776% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,836 | €5,623 | +€2,788 | +98.3% |
| Other operating charges | 640/8 | €493 | €3,295 | +€2,802 | +569% |
| Gross operating margin | 9900 | €44,318 | €13,314 | -€31,004 | -70.0% |
| Operating profit (loss) | 9901 | €40,220 | -€2,343 | -€42,563 | |
| Financial income | 75/76B | - | €140 | +€140 | |
| Recurring financial income | 75 | - | €140 | +€140 | |
| Financial charges | 65/66B | -€8 | €40 | +€48 | |
| Recurring financial charges | 65 | -€8 | €40 | +€48 | |
| Profit (loss) for the period before taxes | 9903 | €40,228 | -€2,243 | -€42,471 | |
| Income taxes | 67/77 | €10,500 | -€2,614 | -€13,114 | |
| Profit (loss) for the period | 9904 | €29,728 | €371 | -€29,357 | -98.8% |
| Profit (loss) for the period to be appropriated | 9905 | €29,728 | €371 | -€29,357 | -98.8% |
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 16 October 2026 via checked.be.