BTR GROUP: 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 GROUP
Largest movements
- Cash +€11,767
up €11,767 (+80.1%), from €14,681 to €26,449
mainly Other debts (+€7,638) and Investment in fixed assets (net) (+€4,507)
- Tangible fixed assets -€7,485
down €7,485 (-30.4%), from €24,618 to €17,133
- Receivables within one year +€3,088
up €3,088 (+11.2%), from €27,547 to €30,635
of which Trade receivables: +€2,075
- Deferred charges and accrued income +€1,592
new in 2025: €1,592
- Other debts +€7,638
up €7,638 (+32.1%), from €23,785 to €31,423
- Trade debts +€3,234
up €3,234 (+11.1%), from €29,016 to €32,249
- Tax, wage and social debts -€2,152
down €2,152 (-75.1%), from €2,866 to €714
- Gross operating margin +€9,751
up €9,751 (+60.0%), from €16,245 to €25,996
- Taxes -€2,152
down €2,152 (-75.1%), from €2,866 to €714
- Other operating charges +€900
up €900 (+228.2%), from €395 to €1,295
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 | €66,846 | €75,809 | +€8,963 | +13.4% |
| Fixed assets | 21/28 | €24,618 | €17,133 | -€7,485 | -30.4% |
| Tangible fixed assets | 22/27 | €24,618 | €17,133 | -€7,485 | -30.4% |
| Furniture and vehicles | 24 | €24,618 | €17,133 | -€7,485 | -30.4% |
| Current assets | 29/58 | €42,228 | €58,676 | +€16,448 | +38.9% |
| Amounts receivable within one year | 40/41 | €27,547 | €30,635 | +€3,088 | +11.2% |
| Trade receivables | 40 | €22,304 | €24,379 | +€2,075 | +9.3% |
| Other amounts receivable | 41 | €5,243 | €6,256 | +€1,013 | +19.3% |
| Cash at bank and in hand | 54/58 | €14,681 | €26,449 | +€11,767 | +80.1% |
| Deferred charges and accrued income | 490/1 | - | €1,592 | +€1,592 | |
| Total equity and liabilities | 10/49 | €66,846 | €75,809 | +€8,963 | +13.4% |
| Equity | 10/15 | €11,180 | €11,423 | +€243 | +2.2% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €9,680 | €9,923 | +€243 | +2.5% |
| Amounts payable | 17/49 | €55,666 | €64,386 | +€8,720 | +15.7% |
| Amounts payable within one year | 42/48 | €55,666 | €64,386 | +€8,720 | +15.7% |
| Trade debts | 44 | €29,016 | €32,249 | +€3,234 | +11.1% |
| Suppliers | 440/4 | €29,016 | €32,249 | +€3,234 | +11.1% |
| Taxes, remuneration and social security | 45 | €2,866 | €714 | -€2,152 | -75.1% |
| Taxes | 450/3 | €2,866 | €714 | -€2,152 | -75.1% |
| Other amounts payable | 47/48 | €23,785 | €31,423 | +€7,638 | +32.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,882 | €2,977 | +€96 | +3.3% |
| Other operating charges | 640/8 | €395 | €1,295 | +€900 | +228.2% |
| Non-recurring operating charges | 66A | - | €20,618 | +€20,618 | |
| Gross operating margin | 9900 | €16,245 | €25,996 | +€9,751 | +60.0% |
| Operating profit (loss) | 9901 | €12,968 | €1,105 | -€11,863 | -91.5% |
| Financial income | 75/76B | €0 | €39 | +€38 | +9373.2% |
| Recurring financial income | 75 | €0 | €39 | +€38 | +9373.2% |
| Financial charges | 65/66B | €423 | €188 | -€235 | -55.7% |
| Recurring financial charges | 65 | €423 | €188 | -€235 | -55.7% |
| Profit (loss) for the period before taxes | 9903 | €12,546 | €956 | -€11,589 | -92.4% |
| Income taxes | 67/77 | €2,866 | €714 | -€2,152 | -75.1% |
| Profit (loss) for the period | 9904 | €9,680 | €243 | -€9,437 | -97.5% |
| Profit (loss) for the period to be appropriated | 9905 | €9,680 | €243 | -€9,437 | -97.5% |
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 1 October 2026 via checked.be.