BTS IMMO: 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.
BTS IMMO
Largest movements
- Tangible fixed assets -€13,746
down €13,746 (-6.8%), from €202,157 to €188,411
- Receivables within one year -€2,875
down €2,875 (-13.6%), from €21,213 to €18,338
- Debts after one year -€18,781
down €18,781 (-9.9%), from €189,925 to €171,145
- Short-term financial debts -€11,745
no longer reported in 2025 (was €11,745)
- Current portion of long-term debt +€9,283
up €9,283 (+40.7%), from €22,787 to €32,070
- Profit (loss) carried forward +€4,994
up €4,994 (+8.1%), from -€61,400 to -€56,406
- Gross operating margin +€23,187
up €23,187 (+651.2%), from €3,561 to €26,748
- Other operating charges -€5,974
down €5,974 (-89.0%), from €6,709 to €735
- Financial charges +€2,085
up €2,085 (+42.1%), from €4,955 to €7,039
- Turnover -€1,689
no longer reported in 2025 (was €1,689)
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 | €225,705 | €208,932 | -€16,773 | -7.4% |
| Formation expenses | 20 | €2,335 | €2,101 | -€233 | -10.0% |
| Fixed assets | 21/28 | €202,157 | €188,411 | -€13,746 | -6.8% |
| Tangible fixed assets | 22/27 | €202,157 | €188,411 | -€13,746 | -6.8% |
| Land and buildings | 22 | €202,157 | €188,411 | -€13,746 | -6.8% |
| Current assets | 29/58 | €21,213 | €18,420 | -€2,793 | -13.2% |
| Amounts receivable within one year | 40/41 | €21,213 | €18,338 | -€2,875 | -13.6% |
| Other amounts receivable | 41 | €21,213 | €18,338 | -€2,875 | -13.6% |
| Cash at bank and in hand | 54/58 | €0 | €82 | +€82 | |
| Total equity and liabilities | 10/49 | €225,705 | €208,932 | -€16,773 | -7.4% |
| Equity | 10/15 | -€5,438 | -€444 | +€4,994 | +91.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €49,762 | €49,762 | = | 0.0% |
| Distributable reserves | 133 | €49,762 | €49,762 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€61,400 | -€56,406 | +€4,994 | +8.1% |
| Amounts payable | 17/49 | €231,143 | €209,376 | -€21,767 | -9.4% |
| Amounts payable after more than one year | 17 | €189,925 | €171,145 | -€18,781 | -9.9% |
| Financial debts | 170/4 | €189,925 | €171,145 | -€18,781 | -9.9% |
| Amounts payable within one year | 42/48 | €41,218 | €38,232 | -€2,986 | -7.2% |
| Current portion of amounts payable after more than one year | 42 | €22,787 | €32,070 | +€9,283 | +40.7% |
| Financial debts | 43 | €11,745 | - | -€11,745 | |
| Credit institutions | 430/8 | €11,745 | - | -€11,745 | |
| Trade debts | 44 | €6,686 | €5,964 | -€722 | -10.8% |
| Suppliers | 440/4 | €6,686 | €5,964 | -€722 | -10.8% |
| Other amounts payable | 47/48 | - | €197 | +€197 | |
| Turnover | 70 | €1,689 | - | -€1,689 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,980 | €13,980 | -€0 | 0.0% |
| Other operating charges | 640/8 | €6,709 | €735 | -€5,974 | -89.0% |
| Gross operating margin | 9900 | €3,561 | €26,748 | +€23,187 | +651.2% |
| Operating profit (loss) | 9901 | -€17,128 | €12,034 | +€29,161 | |
| Financial charges | 65/66B | €4,955 | €7,039 | +€2,085 | +42.1% |
| Recurring financial charges | 65 | €4,955 | €7,039 | +€2,085 | +42.1% |
| Profit (loss) for the period before taxes | 9903 | -€22,082 | €4,994 | +€27,077 | |
| Profit (loss) for the period | 9904 | -€22,082 | €4,994 | +€27,077 | |
| Profit (loss) for the period to be appropriated | 9905 | -€22,082 | €4,994 | +€27,077 |
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.