BTS LOGISTICS: what changed
Two financial 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 LOGISTICS
Largest movements
- Cash +€196,492
up €196,492 (+107.3%), from €183,048 to €379,541
mainly Net result for the year (+€176,756) and Other debts (+€58,941)
- Receivables within one year +€39,836
up €39,836 (+24.8%), from €160,678 to €200,513
of which Trade receivables: +€29,604
- Reserves +€117,932
up €117,932 (+47.7%), from €247,118 to €365,050
- Other debts +€58,941
up €58,941 (+862.4%), from €6,835 to €65,775
- Trade debts +€45,713
up €45,713 (+67.5%), from €67,728 to €113,441
- Accrued charges and deferred income +€12,239
up €12,239 (+94.4%), from €12,971 to €25,209
- Gross operating margin +€55,007
up €55,007 (+22.2%), from €248,258 to €303,266
- Taxes +€13,427
up €13,427 (+23.8%), from €56,341 to €69,768
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 | €379,331 | €611,495 | +€232,165 | +61.2% |
| Fixed assets | 21/28 | €32,315 | €26,792 | -€5,523 | -17.1% |
| Tangible fixed assets | 22/27 | €32,315 | €26,792 | -€5,523 | -17.1% |
| Land and buildings | 22 | €6,070 | €5,392 | -€678 | -11.2% |
| Plant, machinery and equipment | 23 | €14,582 | €13,436 | -€1,146 | -7.9% |
| Furniture and vehicles | 24 | €11,663 | €7,964 | -€3,699 | -31.7% |
| Current assets | 29/58 | €347,016 | €584,703 | +€237,688 | +68.5% |
| Amounts receivable within one year | 40/41 | €160,678 | €200,513 | +€39,836 | +24.8% |
| Trade receivables | 40 | €160,678 | €190,282 | +€29,604 | +18.4% |
| Other amounts receivable | 41 | - | €10,232 | +€10,232 | |
| Cash at bank and in hand | 54/58 | €183,048 | €379,541 | +€196,492 | +107.3% |
| Deferred charges and accrued income | 490/1 | €3,290 | €4,650 | +€1,360 | +41.3% |
| Total equity and liabilities | 10/49 | €379,331 | €611,495 | +€232,165 | +61.2% |
| Equity | 10/15 | €250,118 | €368,050 | +€117,932 | +47.2% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €247,118 | €365,050 | +€117,932 | +47.7% |
| Distributable reserves | 133 | €247,118 | €365,050 | +€117,932 | +47.7% |
| Amounts payable | 17/49 | €129,212 | €243,445 | +€114,233 | +88.4% |
| Amounts payable within one year | 42/48 | €116,242 | €218,236 | +€101,994 | +87.7% |
| Trade debts | 44 | €67,728 | €113,441 | +€45,713 | +67.5% |
| Suppliers | 440/4 | €67,728 | €113,441 | +€45,713 | +67.5% |
| Taxes, remuneration and social security | 45 | €41,679 | €39,019 | -€2,660 | -6.4% |
| Taxes | 450/3 | €32,237 | €31,444 | -€794 | -2.5% |
| Remuneration and social security | 454/9 | €9,442 | €7,576 | -€1,866 | -19.8% |
| Other amounts payable | 47/48 | €6,835 | €65,775 | +€58,941 | +862.4% |
| Accrued charges and deferred income | 492/3 | €12,971 | €25,209 | +€12,239 | +94.4% |
| Non-recurring operating income | 76A | €3,213 | €4,308 | +€1,094 | +34.1% |
| Remuneration, social security and pensions | 62 | €48,119 | €50,124 | +€2,005 | +4.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,955 | €5,523 | +€569 | +11.5% |
| Other operating charges | 640/8 | €3,163 | €149 | -€3,015 | -95.3% |
| Gross operating margin | 9900 | €248,258 | €303,266 | +€55,007 | +22.2% |
| Operating profit (loss) | 9901 | €192,021 | €247,470 | +€55,449 | +28.9% |
| Financial income | 75/76B | €0 | €81 | +€81 | +809900.0% |
| Recurring financial income | 75 | €0 | €81 | +€81 | +809900.0% |
| Financial charges | 65/66B | €1,186 | €1,027 | -€159 | -13.4% |
| Recurring financial charges | 65 | €1,186 | €1,027 | -€159 | -13.4% |
| Profit (loss) for the period before taxes | 9903 | €190,835 | €246,524 | +€55,689 | +29.2% |
| Income taxes | 67/77 | €56,341 | €69,768 | +€13,427 | +23.8% |
| Profit (loss) for the period | 9904 | €134,494 | €176,756 | +€42,262 | +31.4% |
| Profit (loss) for the period to be appropriated | 9905 | €134,494 | €176,756 | +€42,262 | +31.4% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.