BTSYSTEM: 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.
BTSYSTEM
Largest movements
- Receivables within one year -€26,784
down €26,784 (-24.4%), from €109,598 to €82,815
of which Trade receivables: -€28,375
- Cash -€17,245
down €17,245 (-49.7%), from €34,663 to €17,419
mainly Net result for the year (-€41,023) and Investment in fixed assets (net) (-€25,574)
- Tangible fixed assets +€12,963
up €12,963 (+58.1%), from €22,294 to €35,257
of which Furniture and vehicles: +€17,872
- Deferred charges and accrued income -€5,513
down €5,513 (-64.9%), from €8,499 to €2,986
- Stocks and contracts +€3,947
up €3,947 (+20.6%), from €19,194 to €23,141
- Profit (loss) carried forward -€38,214
new in 2025: -€38,214
- Other debts +€16,849
up €16,849 (+116.8%), from €14,425 to €31,273
- Trade debts -€4,232
down €4,232 (-14.2%), from €29,843 to €25,611
- Accrued charges and deferred income -€4,189
down €4,189 (-42.9%), from €9,765 to €5,576
- Reserves -€2,809
down €2,809 (-3.6%), from €78,153 to €75,343
of which Distributable reserves: -€2,809
- Staff costs +€17,204
up €17,204 (+10.6%), from €162,041 to €179,245
- Gross operating margin +€6,506
up €6,506 (+4.3%), from €150,445 to €156,951
- Write-downs +€2,820
new in 2025: €2,820
- Depreciation -€2,130
down €2,130 (-14.4%), from €14,741 to €12,611
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 | €194,249 | €161,617 | -€32,631 | -16.8% |
| Fixed assets | 21/28 | €22,294 | €35,257 | +€12,963 | +58.1% |
| Tangible fixed assets | 22/27 | €22,294 | €35,257 | +€12,963 | +58.1% |
| Plant, machinery and equipment | 23 | €10,433 | €5,524 | -€4,909 | -47.1% |
| Furniture and vehicles | 24 | €11,861 | €29,733 | +€17,872 | +150.7% |
| Current assets | 29/58 | €171,955 | €126,360 | -€45,594 | -26.5% |
| Stocks and contracts in progress | 3 | €19,194 | €23,141 | +€3,947 | +20.6% |
| Stocks | 30/36 | €19,194 | €23,141 | +€3,947 | +20.6% |
| Amounts receivable within one year | 40/41 | €109,598 | €82,815 | -€26,784 | -24.4% |
| Trade receivables | 40 | €108,163 | €79,788 | -€28,375 | -26.2% |
| Other amounts receivable | 41 | €1,435 | €3,027 | +€1,592 | +110.9% |
| Cash at bank and in hand | 54/58 | €34,663 | €17,419 | -€17,245 | -49.7% |
| Deferred charges and accrued income | 490/1 | €8,499 | €2,986 | -€5,513 | -64.9% |
| Total equity and liabilities | 10/49 | €194,249 | €161,617 | -€32,631 | -16.8% |
| Equity | 10/15 | €84,353 | €43,329 | -€41,023 | -48.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €78,153 | €75,343 | -€2,809 | -3.6% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €76,293 | €73,483 | -€2,809 | -3.7% |
| Profit (loss) carried forward | 14 | - | -€38,214 | -€38,214 | |
| Amounts payable | 17/49 | €109,896 | €118,288 | +€8,392 | +7.6% |
| Amounts payable within one year | 42/48 | €100,131 | €112,712 | +€12,581 | +12.6% |
| Trade debts | 44 | €29,843 | €25,611 | -€4,232 | -14.2% |
| Suppliers | 440/4 | €29,843 | €25,611 | -€4,232 | -14.2% |
| Taxes, remuneration and social security | 45 | €55,863 | €55,827 | -€36 | -0.1% |
| Taxes | 450/3 | €28,890 | €18,767 | -€10,123 | -35.0% |
| Remuneration and social security | 454/9 | €26,973 | €37,060 | +€10,087 | +37.4% |
| Other amounts payable | 47/48 | €14,425 | €31,273 | +€16,849 | +116.8% |
| Accrued charges and deferred income | 492/3 | €9,765 | €5,576 | -€4,189 | -42.9% |
| Remuneration, social security and pensions | 62 | €162,041 | €179,245 | +€17,204 | +10.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,741 | €12,611 | -€2,130 | -14.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €2,820 | +€2,820 | |
| Other operating charges | 640/8 | €1,775 | €2,563 | +€787 | +44.3% |
| Non-recurring operating charges | 66A | €4,978 | - | -€4,978 | |
| Gross operating margin | 9900 | €150,445 | €156,951 | +€6,506 | +4.3% |
| Operating profit (loss) | 9901 | -€33,091 | -€40,289 | -€7,198 | -21.8% |
| Financial income | 75/76B | €82 | €36 | -€46 | -55.7% |
| Recurring financial income | 75 | €82 | €36 | -€46 | -55.7% |
| Financial charges | 65/66B | €1,314 | €351 | -€963 | -73.3% |
| Recurring financial charges | 65 | €1,314 | €351 | -€963 | -73.3% |
| Profit (loss) for the period before taxes | 9903 | -€34,323 | -€40,604 | -€6,281 | -18.3% |
| Income taxes | 67/77 | €589 | €419 | -€170 | -28.8% |
| Profit (loss) for the period | 9904 | -€34,912 | -€41,023 | -€6,111 | -17.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€34,912 | -€41,023 | -€6,111 | -17.5% |
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 11 October 2026 via checked.be.