BT: what changed
BT
Largest movements
- Tangible fixed assets -€14,507
down €14,507 (-24.3%), from €59,606 to €45,099
of which Furniture and vehicles: -€13,948
- Receivables within one year -€13,643
down €13,643 (-69.8%), from €19,538 to €5,895
of which Trade receivables: -€13,864
- Cash -€6,633
down €6,633 (-58.3%), from €11,372 to €4,739
mainly Trade debts (-€31,708) and Other debts (-€18,286)
- Stocks and contracts +€3,500
up €3,500 (+35.0%), from €10,000 to €13,500
- Trade debts -€31,708
down €31,708 (-59.1%), from €53,656 to €21,948
- Other debts -€18,286
down €18,286 (-50.2%), from €36,460 to €18,174
- Profit (loss) carried forward +€13,674
up €13,674 (+176%), from €7,760 to €21,434
- Tax, wage and social debts +€3,841
up €3,841 (+162%), from €2,376 to €6,218
- Gross operating margin +€15,236
up €15,236 (+18.9%), from €80,455 to €95,691
- Taxes +€4,833
up €4,833 (+758%), from €638 to €5,470
- Financial charges -€4,645
down €4,645 (-34.7%), from €13,405 to €8,760
- Staff costs +€3,019
up €3,019 (+6.2%), from €48,484 to €51,503
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €105,252 | €72,773 | -€32,479 | -30.9% |
| Formation expenses | 20 | €488 | - | -€488 | |
| Fixed assets | 21/28 | €63,854 | €48,639 | -€15,215 | -23.8% |
| Intangible fixed assets | 21 | €4,248 | €3,540 | -€708 | -16.7% |
| Tangible fixed assets | 22/27 | €59,606 | €45,099 | -€14,507 | -24.3% |
| Land and buildings | 22 | €2,872 | €2,553 | -€319 | -11.1% |
| Plant, machinery and equipment | 23 | €978 | €739 | -€240 | -24.5% |
| Furniture and vehicles | 24 | €55,756 | €41,807 | -€13,948 | -25.0% |
| Current assets | 29/58 | €40,910 | €24,134 | -€16,776 | -41.0% |
| Stocks and contracts in progress | 3 | €10,000 | €13,500 | +€3,500 | +35.0% |
| Stocks | 30/36 | €10,000 | €13,500 | +€3,500 | +35.0% |
| Amounts receivable within one year | 40/41 | €19,538 | €5,895 | -€13,643 | -69.8% |
| Trade receivables | 40 | €18,868 | €5,004 | -€13,864 | -73.5% |
| Other amounts receivable | 41 | €670 | €891 | +€221 | +32.9% |
| Cash at bank and in hand | 54/58 | €11,372 | €4,739 | -€6,633 | -58.3% |
| Total equity and liabilities | 10/49 | €105,252 | €72,773 | -€32,479 | -30.9% |
| Equity | 10/15 | €12,760 | €26,434 | +€13,674 | +107% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Contributions outside capital | 11 | €5,000 | - | -€5,000 | |
| Share premium | 1100/10 | €5,000 | - | -€5,000 | |
| Profit (loss) carried forward | 14 | €7,760 | €21,434 | +€13,674 | +176% |
| Amounts payable | 17/49 | €92,492 | €46,340 | -€46,152 | -49.9% |
| Amounts payable within one year | 42/48 | €92,492 | €46,340 | -€46,152 | -49.9% |
| Trade debts | 44 | €53,656 | €21,948 | -€31,708 | -59.1% |
| Suppliers | 440/4 | €53,656 | €21,948 | -€31,708 | -59.1% |
| Taxes, remuneration and social security | 45 | €2,376 | €6,218 | +€3,841 | +162% |
| Taxes | 450/3 | €2,376 | €6,218 | +€3,841 | +162% |
| Other amounts payable | 47/48 | €36,460 | €18,174 | -€18,286 | -50.2% |
| Remuneration, social security and pensions | 62 | €48,484 | €51,503 | +€3,019 | +6.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,683 | €15,703 | +€20 | +0.1% |
| Other operating charges | 640/8 | €394 | €581 | +€187 | +47.5% |
| Gross operating margin | 9900 | €80,455 | €95,691 | +€15,236 | +18.9% |
| Operating profit (loss) | 9901 | €15,893 | €27,903 | +€12,010 | +75.6% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €13,405 | €8,760 | -€4,645 | -34.7% |
| Recurring financial charges | 65 | €13,405 | €8,760 | -€4,645 | -34.7% |
| Profit (loss) for the period before taxes | 9903 | €2,488 | €19,144 | +€16,655 | +669% |
| Income taxes | 67/77 | €638 | €5,470 | +€4,833 | +758% |
| Profit (loss) for the period | 9904 | €1,851 | €13,674 | +€11,823 | +639% |
| Profit (loss) for the period to be appropriated | 9905 | €1,851 | €13,674 | +€11,823 | +639% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.