BTR CONSTRUCT: 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.
BTR CONSTRUCT
Largest movements
- Tangible fixed assets +€39,121
up €39,121 (+93.2%), from €41,994 to €81,115
of which Furniture and vehicles: +€40,721
- Cash -€8,810
down €8,810 (-25.7%), from €34,297 to €25,487
mainly Investment in fixed assets (net) (-€53,059) and Other debts (-€20,573)
- Receivables within one year +€7,631
up €7,631 (+9.6%), from €79,233 to €86,864
of which Trade receivables: +€29,816
- Debts after one year +€22,965
up €22,965 (+70.5%), from €32,590 to €55,555
- Other debts -€20,573
no longer reported in 2025 (was €20,573)
- Profit (loss) carried forward +€11,349
up €11,349 (+21.4%), from €53,116 to €64,464
- Current portion of long-term debt +€9,947
up €9,947 (+73.2%), from €13,589 to €23,535
- Trade debts +€9,445
up €9,445 (+45.5%), from €20,776 to €30,221
- Turnover -€23,147
down €23,147 (-5.2%), from €446,579 to €423,431
- Purchases and services -€17,146
down €17,146 (-4.2%), from €405,397 to €388,251
- Gross operating margin -€9,292
down €9,292 (-20.9%), from €44,473 to €35,181
- Depreciation -€7,848
down €7,848 (-36.0%), from €21,785 to €13,938
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 | €155,908 | €193,775 | +€37,867 | +24.3% |
| Fixed assets | 21/28 | €41,994 | €81,115 | +€39,121 | +93.2% |
| Tangible fixed assets | 22/27 | €41,994 | €81,115 | +€39,121 | +93.2% |
| Plant, machinery and equipment | 23 | €2,956 | €1,356 | -€1,601 | -54.1% |
| Furniture and vehicles | 24 | €39,038 | €79,759 | +€40,721 | +104.3% |
| Current assets | 29/58 | €113,914 | €112,660 | -€1,254 | -1.1% |
| Amounts receivable within one year | 40/41 | €79,233 | €86,864 | +€7,631 | +9.6% |
| Trade receivables | 40 | €52,684 | €82,500 | +€29,816 | +56.6% |
| Other amounts receivable | 41 | €26,549 | €4,364 | -€22,185 | -83.6% |
| Cash at bank and in hand | 54/58 | €34,297 | €25,487 | -€8,810 | -25.7% |
| Deferred charges and accrued income | 490/1 | €383 | €309 | -€74 | -19.4% |
| Total equity and liabilities | 10/49 | €155,908 | €193,775 | +€37,867 | +24.3% |
| Equity | 10/15 | €55,035 | €66,384 | +€11,349 | +20.6% |
| Contributions | 10/11 | €1,920 | €1,920 | = | 0.0% |
| Reserves | 13 | €0 | - | = | |
| Distributable reserves | 133 | €0 | - | = | |
| Profit (loss) carried forward | 14 | €53,116 | €64,464 | +€11,349 | +21.4% |
| Amounts payable | 17/49 | €100,873 | €127,391 | +€26,518 | +26.3% |
| Amounts payable after more than one year | 17 | €32,590 | €55,555 | +€22,965 | +70.5% |
| Financial debts | 170/4 | €32,590 | €55,555 | +€22,965 | +70.5% |
| Amounts payable within one year | 42/48 | €68,283 | €71,836 | +€3,553 | +5.2% |
| Current portion of amounts payable after more than one year | 42 | €13,589 | €23,535 | +€9,947 | +73.2% |
| Trade debts | 44 | €20,776 | €30,221 | +€9,445 | +45.5% |
| Suppliers | 440/4 | €20,776 | €30,221 | +€9,445 | +45.5% |
| Taxes, remuneration and social security | 45 | €13,345 | €18,080 | +€4,735 | +35.5% |
| Taxes | 450/3 | €9,695 | €10,580 | +€885 | +9.1% |
| Remuneration and social security | 454/9 | €3,650 | €7,500 | +€3,850 | +105.5% |
| Other amounts payable | 47/48 | €20,573 | - | -€20,573 | |
| Turnover | 70 | €446,579 | €423,431 | -€23,147 | -5.2% |
| Goods, raw materials, services and sundry goods | 60/61 | €405,397 | €388,251 | -€17,146 | -4.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,785 | €13,938 | -€7,848 | -36.0% |
| Other operating charges | 640/8 | €437 | €400 | -€37 | -8.6% |
| Gross operating margin | 9900 | €44,473 | €35,181 | -€9,292 | -20.9% |
| Operating profit (loss) | 9901 | €22,250 | €20,843 | -€1,407 | -6.3% |
| Financial income | 75/76B | €1 | - | -€1 | |
| Recurring financial income | 75 | €1 | - | -€1 | |
| Financial charges | 65/66B | €6,051 | €4,857 | -€1,194 | -19.7% |
| Recurring financial charges | 65 | €6,051 | €4,857 | -€1,194 | -19.7% |
| Profit (loss) for the period before taxes | 9903 | €16,200 | €15,986 | -€213 | -1.3% |
| Income taxes | 67/77 | €5,020 | €4,637 | -€383 | -7.6% |
| Profit (loss) for the period | 9904 | €11,179 | €11,349 | +€170 | +1.5% |
| Profit (loss) for the period to be appropriated | 9905 | €11,179 | €11,349 | +€170 | +1.5% |
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 7 October 2026 via checked.be.