FRED BATI: 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.
FRED BATI
Largest movements
- Receivables within one year +€217,175
up €217,175 (+277.6%), from €78,235 to €295,410
of which Trade receivables: +€212,364
- Cash -€133,200
down €133,200 (-77.2%), from €172,575 to €39,374
mainly Receivables within one year (-€217,175) and Contributions, distributions and other (-€36,364)
- Reserves +€63,636
up €63,636 (+35.9%), from €177,273 to €240,909
- Profit (loss) carried forward +€36,403
up €36,403 (+23.1%), from €157,480 to €193,884
- Trade debts -€7,238
down €7,238 (-43.0%), from €16,824 to €9,586
- Debts after one year -€6,896
down €6,896 (-8.3%), from €83,438 to €76,542
- Tax, wage and social debts -€5,795
down €5,795 (-26.3%), from €22,024 to €16,229
of which Taxes: -€7,095
- Write-downs -€23,539
no longer reported in 2025 (was €23,539)
- Gross operating margin +€13,977
up €13,977 (+6.7%), from €209,314 to €223,292
- Taxes +€8,329
up €8,329 (+17.6%), from €47,317 to €55,646
- Other operating charges -€2,621
down €2,621 (-44.5%), from €5,890 to €3,268
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 | €484,116 | €564,056 | +€79,940 | +16.5% |
| Fixed assets | 21/28 | €229,700 | €224,088 | -€5,612 | -2.4% |
| Tangible fixed assets | 22/27 | €229,300 | €223,688 | -€5,612 | -2.4% |
| Land and buildings | 22 | €200,234 | €209,388 | +€9,154 | +4.6% |
| Plant, machinery and equipment | 23 | €140 | - | -€140 | |
| Furniture and vehicles | 24 | €28,925 | €14,300 | -€14,625 | -50.6% |
| Financial fixed assets | 28 | €400 | €400 | = | 0.0% |
| Current assets | 29/58 | €254,416 | €339,968 | +€85,552 | +33.6% |
| Amounts receivable within one year | 40/41 | €78,235 | €295,410 | +€217,175 | +277.6% |
| Trade receivables | 40 | €61,826 | €274,189 | +€212,364 | +343.5% |
| Other amounts receivable | 41 | €16,409 | €21,220 | +€4,811 | +29.3% |
| Cash at bank and in hand | 54/58 | €172,575 | €39,374 | -€133,200 | -77.2% |
| Deferred charges and accrued income | 490/1 | €3,607 | €5,184 | +€1,577 | +43.7% |
| Total equity and liabilities | 10/49 | €484,116 | €564,056 | +€79,940 | +16.5% |
| Equity | 10/15 | €354,753 | €454,793 | +€100,040 | +28.2% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €177,273 | €240,909 | +€63,636 | +35.9% |
| Non-distributable reserves | 130/1 | €177,273 | €240,909 | +€63,636 | +35.9% |
| Other | 1319 | €177,273 | €240,909 | +€63,636 | +35.9% |
| Profit (loss) carried forward | 14 | €157,480 | €193,884 | +€36,403 | +23.1% |
| Amounts payable | 17/49 | €129,363 | €109,263 | -€20,100 | -15.5% |
| Amounts payable after more than one year | 17 | €83,438 | €76,542 | -€6,896 | -8.3% |
| Financial debts | 170/4 | €83,438 | €76,542 | -€6,896 | -8.3% |
| Amounts payable within one year | 42/48 | €45,925 | €32,721 | -€13,203 | -28.8% |
| Current portion of amounts payable after more than one year | 42 | €6,811 | €6,896 | +€86 | +1.3% |
| Trade debts | 44 | €16,824 | €9,586 | -€7,238 | -43.0% |
| Suppliers | 440/4 | €16,824 | €9,586 | -€7,238 | -43.0% |
| Taxes, remuneration and social security | 45 | €22,024 | €16,229 | -€5,795 | -26.3% |
| Taxes | 450/3 | €20,024 | €12,929 | -€7,095 | -35.4% |
| Remuneration and social security | 454/9 | €2,000 | €3,300 | +€1,300 | +65.0% |
| Other amounts payable | 47/48 | €266 | €10 | -€256 | -96.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,669 | €26,091 | +€1,422 | +5.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €23,539 | - | -€23,539 | |
| Other operating charges | 640/8 | €5,890 | €3,268 | -€2,621 | -44.5% |
| Gross operating margin | 9900 | €209,314 | €223,292 | +€13,977 | +6.7% |
| Operating profit (loss) | 9901 | €155,216 | €193,932 | +€38,715 | +24.9% |
| Financial charges | 65/66B | €1,996 | €1,882 | -€113 | -5.7% |
| Recurring financial charges | 65 | €1,996 | €1,882 | -€113 | -5.7% |
| Profit (loss) for the period before taxes | 9903 | €153,220 | €192,049 | +€38,829 | +25.3% |
| Income taxes | 67/77 | €47,317 | €55,646 | +€8,329 | +17.6% |
| Profit (loss) for the period | 9904 | €105,903 | €136,403 | +€30,500 | +28.8% |
| Profit (loss) for the period to be appropriated | 9905 | €105,903 | €136,403 | +€30,500 | +28.8% |
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.