BURTAUX: 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.
BURTAUX
Largest movements
- Stocks and contracts +€74,500
up €74,500 (+60.4%), from €123,300 to €197,800
- Tangible fixed assets -€26,054
down €26,054 (-6.7%), from €388,539 to €362,485
of which Furniture and vehicles: -€34,705
- Cash -€11,650
down €11,650 (-28.3%), from €41,126 to €29,476
mainly Stocks and contracts (-€74,500) and Investment in fixed assets (net) (-€45,920)
- Receivables within one year -€8,307
down €8,307 (-36.8%), from €22,553 to €14,246
of which Trade receivables: -€17,443
- Profit (loss) carried forward +€68,418
up €68,418 (+95.1%), from €71,909 to €140,327
- Advances received -€22,695
no longer reported in 2025 (was €22,695)
- Debts after one year -€16,770
down €16,770 (-22.8%), from €73,695 to €56,925
of which Financial debts: -€16,770
- Trade debts +€6,204
up €6,204 (+38.2%), from €16,231 to €22,435
- Gross operating margin +€62,638
up €62,638 (+60.0%), from €104,459 to €167,097
- Depreciation -€9,271
down €9,271 (-11.4%), from €81,245 to €71,974
- Staff costs -€6,755
down €6,755 (-29.7%), from €22,734 to €15,979
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.
Derived cash bridge
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 | €578,264 | €606,753 | +€28,489 | +4.9% |
| Fixed assets | 21/28 | €391,285 | €365,231 | -€26,054 | -6.7% |
| Tangible fixed assets | 22/27 | €388,539 | €362,485 | -€26,054 | -6.7% |
| Land and buildings | 22 | €244,140 | €235,052 | -€9,088 | -3.7% |
| Plant, machinery and equipment | 23 | €31,565 | €49,304 | +€17,739 | +56.2% |
| Furniture and vehicles | 24 | €112,834 | €78,129 | -€34,705 | -30.8% |
| Financial fixed assets | 28 | €2,746 | €2,746 | = | 0.0% |
| Current assets | 29/58 | €186,979 | €241,522 | +€54,543 | +29.2% |
| Stocks and contracts in progress | 3 | €123,300 | €197,800 | +€74,500 | +60.4% |
| Stocks | 30/36 | €123,300 | €197,800 | +€74,500 | +60.4% |
| Amounts receivable within one year | 40/41 | €22,553 | €14,246 | -€8,307 | -36.8% |
| Trade receivables | 40 | €22,553 | €5,110 | -€17,443 | -77.3% |
| Other amounts receivable | 41 | - | €9,136 | +€9,136 | |
| Cash at bank and in hand | 54/58 | €41,126 | €29,476 | -€11,650 | -28.3% |
| Total equity and liabilities | 10/49 | €578,264 | €606,753 | +€28,489 | +4.9% |
| Equity | 10/15 | €360,531 | €427,744 | +€67,213 | +18.6% |
| Contributions | 10/11 | €120,000 | €120,000 | = | 0.0% |
| Reserves | 13 | €157,952 | €157,952 | = | 0.0% |
| Tax-exempt reserves | 132 | €15,952 | €15,952 | = | 0.0% |
| Distributable reserves | 133 | €142,000 | €142,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €71,909 | €140,327 | +€68,418 | +95.1% |
| Investment grants | 15 | €10,670 | €9,465 | -€1,205 | -11.3% |
| Amounts payable | 17/49 | €217,733 | €179,009 | -€38,724 | -17.8% |
| Amounts payable after more than one year | 17 | €73,695 | €56,925 | -€16,770 | -22.8% |
| Financial debts | 170/4 | €48,613 | €31,843 | -€16,770 | -34.5% |
| Other amounts payable | 178/9 | €25,082 | €25,082 | = | 0.0% |
| Amounts payable within one year | 42/48 | €144,038 | €122,084 | -€21,954 | -15.2% |
| Current portion of amounts payable after more than one year | 42 | €16,482 | €16,769 | +€287 | +1.7% |
| Trade debts | 44 | €16,231 | €22,435 | +€6,204 | +38.2% |
| Suppliers | 440/4 | €16,231 | €22,435 | +€6,204 | +38.2% |
| Advances received on contracts in progress | 46 | €22,695 | - | -€22,695 | |
| Taxes, remuneration and social security | 45 | €19,378 | €14,067 | -€5,311 | -27.4% |
| Taxes | 450/3 | €3,003 | €435 | -€2,568 | -85.5% |
| Remuneration and social security | 454/9 | €16,375 | €13,632 | -€2,743 | -16.8% |
| Other amounts payable | 47/48 | €69,252 | €68,813 | -€439 | -0.6% |
| Remuneration, social security and pensions | 62 | €22,734 | €15,979 | -€6,755 | -29.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €81,245 | €71,974 | -€9,271 | -11.4% |
| Other operating charges | 640/8 | €9,164 | €9,694 | +€530 | +5.8% |
| Gross operating margin | 9900 | €104,459 | €167,097 | +€62,638 | +60.0% |
| Operating profit (loss) | 9901 | -€8,684 | €69,450 | +€78,134 | |
| Financial income | 75/76B | €1,273 | €1,419 | +€146 | +11.5% |
| Recurring financial income | 75 | €1,273 | €1,419 | +€146 | +11.5% |
| Financial charges | 65/66B | €2,369 | €2,149 | -€220 | -9.3% |
| Recurring financial charges | 65 | €2,369 | €2,149 | -€220 | -9.3% |
| Profit (loss) for the period before taxes | 9903 | -€9,780 | €68,720 | +€78,500 | |
| Transfer from deferred taxes | 780 | €325 | - | -€325 | |
| Income taxes | 67/77 | €235 | €302 | +€67 | +28.5% |
| Profit (loss) for the period | 9904 | -€9,690 | €68,418 | +€78,108 | |
| Profit (loss) for the period to be appropriated | 9905 | -€9,690 | €68,418 | +€78,108 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.