BTREE: 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.
BTREE
Largest movements
- Tangible fixed assets -€24,649
down €24,649 (-8.0%), from €309,843 to €285,194
- Cash -€18,285
down €18,285 (-45.3%), from €40,350 to €22,065
mainly Debts after one year (-€52,000) and Tax, wage and social debts (-€6,111)
- Debts after one year -€52,000
down €52,000 (-40.2%), from €129,333 to €77,333
- Reserves +€16,000
up €16,000 (+13.9%), from €114,880 to €130,880
of which Distributable reserves: +€19,850
- Tax, wage and social debts -€6,111
down €6,111 (-92.9%), from €6,578 to €467
- Gross operating margin -€5,775
down €5,775 (-9.1%), from €63,370 to €57,596
- Financial charges -€3,441
down €3,441 (-42.1%), from €8,170 to €4,729
- Financial income -€1,797
down €1,797 (-88.2%), from €2,038 to €241
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 | €350,935 | €307,851 | -€43,084 | -12.3% |
| Fixed assets | 21/28 | €309,843 | €285,194 | -€24,649 | -8.0% |
| Tangible fixed assets | 22/27 | €309,843 | €285,194 | -€24,649 | -8.0% |
| Land and buildings | 22 | €309,843 | €285,194 | -€24,649 | -8.0% |
| Current assets | 29/58 | €41,092 | €22,656 | -€18,435 | -44.9% |
| Amounts receivable within one year | 40/41 | €522 | €354 | -€167 | -32.1% |
| Other amounts receivable | 41 | €522 | €354 | -€167 | -32.1% |
| Cash at bank and in hand | 54/58 | €40,350 | €22,065 | -€18,285 | -45.3% |
| Deferred charges and accrued income | 490/1 | €221 | €238 | +€17 | +7.7% |
| Total equity and liabilities | 10/49 | €350,935 | €307,851 | -€43,084 | -12.3% |
| Equity | 10/15 | €174,880 | €190,880 | +€16,000 | +9.1% |
| Contributions | 10/11 | €60,000 | €60,000 | = | 0.0% |
| Reserves | 13 | €114,880 | €130,880 | +€16,000 | +13.9% |
| Non-distributable reserves | 130/1 | €3,850 | €0 | -€3,850 | -100.0% |
| Reserves not available under the articles | 1311 | €3,850 | €0 | -€3,850 | -100.0% |
| Distributable reserves | 133 | €111,030 | €130,880 | +€19,850 | +17.9% |
| Amounts payable | 17/49 | €176,054 | €116,970 | -€59,084 | -33.6% |
| Amounts payable after more than one year | 17 | €129,333 | €77,333 | -€52,000 | -40.2% |
| Financial debts | 170/4 | €129,333 | €77,333 | -€52,000 | -40.2% |
| Amounts payable within one year | 42/48 | €44,522 | €38,171 | -€6,351 | -14.3% |
| Current portion of amounts payable after more than one year | 42 | €32,000 | €32,000 | = | 0.0% |
| Trade debts | 44 | €684 | €250 | -€434 | -63.4% |
| Suppliers | 440/4 | €684 | €250 | -€434 | -63.4% |
| Advances received on contracts in progress | 46 | €5,260 | €5,454 | +€194 | +3.7% |
| Taxes, remuneration and social security | 45 | €6,578 | €467 | -€6,111 | -92.9% |
| Taxes | 450/3 | €6,578 | €467 | -€6,111 | -92.9% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €2,200 | €1,467 | -€733 | -33.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,649 | €24,649 | = | 0.0% |
| Other operating charges | 640/8 | €4,594 | €4,993 | +€398 | +8.7% |
| Gross operating margin | 9900 | €63,370 | €57,596 | -€5,775 | -9.1% |
| Operating profit (loss) | 9901 | €34,127 | €27,954 | -€6,173 | -18.1% |
| Financial income | 75/76B | €2,038 | €241 | -€1,797 | -88.2% |
| Recurring financial income | 75 | €2,038 | €241 | -€1,797 | -88.2% |
| Financial charges | 65/66B | €8,170 | €4,729 | -€3,441 | -42.1% |
| Recurring financial charges | 65 | €8,170 | €4,729 | -€3,441 | -42.1% |
| Profit (loss) for the period before taxes | 9903 | €27,995 | €23,467 | -€4,529 | -16.2% |
| Income taxes | 67/77 | €6,999 | €7,467 | +€468 | +6.7% |
| Profit (loss) for the period | 9904 | €20,996 | €16,000 | -€4,996 | -23.8% |
| Profit (loss) for the period to be appropriated | 9905 | €20,996 | €16,000 | -€4,996 | -23.8% |
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 5 October 2026 via checked.be.