Bton: what changed
Two fiscal 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.
Bton
Largest movements
- Cash -€76,068
down €76,068 (-68.8%), from €110,507 to €34,439
mainly Contributions, distributions and other (-€91,840) and Debts after one year (-€19,766)
- Tangible fixed assets -€28,493
down €28,493 (-43.8%), from €65,074 to €36,581
of which Furniture and vehicles: -€22,971
- Receivables within one year +€18,354
up €18,354 (+23.4%), from €78,503 to €96,856
of which Trade receivables: +€48,830
- Reserves -€55,980
down €55,980 (-14.5%), from €386,027 to €330,047
- Debts after one year -€19,766
down €19,766 (-70.3%), from €28,131 to €8,365
- Tax, wage and social debts -€16,385
down €16,385 (-82.3%), from €19,898 to €3,513
of which Taxes: -€15,373
- Gross operating margin -€96,777
down €96,777 (-55.0%), from €175,818 to €79,041
- Taxes -€26,508
down €26,508 (-65.7%), from €40,322 to €13,814
- Staff costs -€21,380
down €21,380 (-100.0%), from €21,387 to €7
- Financial income -€2,649
down €2,649 (-51.7%), from €5,128 to €2,479
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.
Cash bridge derived
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 | €531,729 | €442,477 | -€89,253 | -16.8% |
| Fixed assets | 21/28 | €65,074 | €36,581 | -€28,493 | -43.8% |
| Tangible fixed assets | 22/27 | €65,074 | €36,581 | -€28,493 | -43.8% |
| Furniture and vehicles | 24 | €53,581 | €30,610 | -€22,971 | -42.9% |
| Other tangible fixed assets | 26 | €11,493 | €5,971 | -€5,522 | -48.0% |
| Current assets | 29/58 | €466,655 | €405,896 | -€60,760 | -13.0% |
| Amounts receivable within one year | 40/41 | €78,503 | €96,856 | +€18,354 | +23.4% |
| Trade receivables | 40 | €17,016 | €65,846 | +€48,830 | +287.0% |
| Other amounts receivable | 41 | €61,486 | €31,010 | -€30,476 | -49.6% |
| Current investments | 50/53 | €271,000 | €271,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €110,507 | €34,439 | -€76,068 | -68.8% |
| Deferred charges and accrued income | 490/1 | €6,646 | €3,601 | -€3,045 | -45.8% |
| Total equity and liabilities | 10/49 | €531,729 | €442,477 | -€89,253 | -16.8% |
| Equity | 10/15 | €429,435 | €373,455 | -€55,980 | -13.0% |
| Contributions | 10/11 | €43,408 | €43,408 | = | 0.0% |
| Reserves | 13 | €386,027 | €330,047 | -€55,980 | -14.5% |
| Distributable reserves | 133 | €386,027 | €330,047 | -€55,980 | -14.5% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €102,295 | €69,022 | -€33,273 | -32.5% |
| Amounts payable after more than one year | 17 | €28,131 | €8,365 | -€19,766 | -70.3% |
| Financial debts | 170/4 | €28,131 | €8,365 | -€19,766 | -70.3% |
| Amounts payable within one year | 42/48 | €74,163 | €60,657 | -€13,507 | -18.2% |
| Current portion of amounts payable after more than one year | 42 | €19,337 | €19,766 | +€430 | +2.2% |
| Financial debts | 43 | €25,344 | €25,117 | -€227 | -0.9% |
| Credit institutions | 430/8 | €25,344 | €25,117 | -€227 | -0.9% |
| Trade debts | 44 | €9,585 | €11,222 | +€1,637 | +17.1% |
| Suppliers | 440/4 | €9,585 | €11,222 | +€1,637 | +17.1% |
| Taxes, remuneration and social security | 45 | €19,898 | €3,513 | -€16,385 | -82.3% |
| Taxes | 450/3 | €15,373 | €0 | -€15,373 | -100.0% |
| Remuneration and social security | 454/9 | €4,525 | €3,513 | -€1,013 | -22.4% |
| Other amounts payable | 47/48 | - | €1,039 | +€1,039 | |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €21,387 | €7 | -€21,380 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,682 | €28,493 | -€189 | -0.7% |
| Other operating charges | 640/8 | €1,134 | €1,698 | +€564 | +49.7% |
| Gross operating margin | 9900 | €175,818 | €79,041 | -€96,777 | -55.0% |
| Operating profit (loss) | 9901 | €124,615 | €48,843 | -€75,772 | -60.8% |
| Financial income | 75/76B | €5,128 | €2,479 | -€2,649 | -51.7% |
| Recurring financial income | 75 | €5,128 | €2,479 | -€2,649 | -51.7% |
| Financial charges | 65/66B | €2,093 | €1,648 | -€445 | -21.3% |
| Recurring financial charges | 65 | €2,093 | €1,648 | -€445 | -21.3% |
| Profit (loss) for the period before taxes | 9903 | €127,650 | €49,673 | -€77,976 | -61.1% |
| Income taxes | 67/77 | €40,322 | €13,814 | -€26,508 | -65.7% |
| Profit (loss) for the period | 9904 | €87,328 | €35,860 | -€51,468 | -58.9% |
| Profit (loss) for the period to be appropriated | 9905 | €87,328 | €35,860 | -€51,468 | -58.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.