BTVS: 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.
BTVS
Largest movements
- Cash +€339,277
up €339,277 (+426.8%), from €79,485 to €418,762
mainly Current investments (+€200,000) and Other debts (+€161,413)
- Current investments -€200,000
no longer reported in 2025 (was €200,000)
- Tangible fixed assets +€31,161
up €31,161 (+248.4%), from €12,545 to €43,706
- Receivables within one year -€12,668
down €12,668 (-31.6%), from €40,062 to €27,394
of which Trade receivables: -€21,394
- Other debts +€161,413
up €161,413 (+1097.4%), from €14,709 to €176,122
- Gross operating margin +€49,887
up €49,887 (+29.9%), from €166,862 to €216,749
- Financial income +€5,883
up €5,883 (+11313.5%), from €52 to €5,935
- Taxes +€2,478
up €2,478 (+4.9%), from €50,230 to €52,708
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 | €333,367 | €489,862 | +€156,495 | +46.9% |
| Fixed assets | 21/28 | €13,300 | €43,706 | +€30,406 | +228.6% |
| Tangible fixed assets | 22/27 | €12,545 | €43,706 | +€31,161 | +248.4% |
| Furniture and vehicles | 24 | €12,545 | €43,706 | +€31,161 | +248.4% |
| Financial fixed assets | 28 | €755 | - | -€755 | |
| Current assets | 29/58 | €320,067 | €446,156 | +€126,089 | +39.4% |
| Amounts receivable within one year | 40/41 | €40,062 | €27,394 | -€12,668 | -31.6% |
| Trade receivables | 40 | €27,936 | €6,542 | -€21,394 | -76.6% |
| Other amounts receivable | 41 | €12,126 | €20,852 | +€8,726 | +72.0% |
| Current investments | 50/53 | €200,000 | - | -€200,000 | |
| Cash at bank and in hand | 54/58 | €79,485 | €418,762 | +€339,277 | +426.8% |
| Deferred charges and accrued income | 490/1 | €520 | - | -€520 | |
| Total equity and liabilities | 10/49 | €333,367 | €489,862 | +€156,495 | +46.9% |
| Equity | 10/15 | €308,373 | €308,373 | = | 0.0% |
| Contributions | 10/11 | €500 | €500 | = | 0.0% |
| Reserves | 13 | €307,873 | €307,873 | = | 0.0% |
| Distributable reserves | 133 | €307,873 | €307,873 | = | 0.0% |
| Amounts payable | 17/49 | €24,994 | €181,489 | +€156,495 | +626.1% |
| Amounts payable within one year | 42/48 | €24,994 | €181,489 | +€156,495 | +626.1% |
| Trade debts | 44 | €10,224 | €5,367 | -€4,857 | -47.5% |
| Suppliers | 440/4 | €10,224 | €5,367 | -€4,857 | -47.5% |
| Taxes, remuneration and social security | 45 | €61 | - | -€61 | |
| Taxes | 450/3 | €61 | - | -€61 | |
| Other amounts payable | 47/48 | €14,709 | €176,122 | +€161,413 | +1097.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,527 | €6,999 | +€472 | +7.2% |
| Other operating charges | 640/8 | €2,041 | €966 | -€1,075 | -52.7% |
| Gross operating margin | 9900 | €166,862 | €216,749 | +€49,887 | +29.9% |
| Operating profit (loss) | 9901 | €158,294 | €208,784 | +€50,490 | +31.9% |
| Financial income | 75/76B | €52 | €5,935 | +€5,883 | +11313.5% |
| Recurring financial income | 75 | €52 | €5,935 | +€5,883 | +11313.5% |
| Financial charges | 65/66B | €114 | €639 | +€525 | +460.5% |
| Recurring financial charges | 65 | €114 | €639 | +€525 | +460.5% |
| Profit (loss) for the period before taxes | 9903 | €158,232 | €214,080 | +€55,848 | +35.3% |
| Income taxes | 67/77 | €50,230 | €52,708 | +€2,478 | +4.9% |
| Profit (loss) for the period | 9904 | €108,002 | €161,372 | +€53,370 | +49.4% |
| Profit (loss) for the period to be appropriated | 9905 | €108,002 | €161,372 | +€53,370 | +49.4% |
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 9 October 2026 via checked.be.