BTL-IMPEX: what changed
Two fiscal 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.
BTL-IMPEX
Largest movements
- Stocks and contracts +€188,676
up €188,676 (+204.3%), from €92,331 to €281,007
of which Contracts in progress: +€137,260
- Tangible fixed assets +€120,638
up €120,638 (+78.9%), from €152,837 to €273,475
of which Leasing and similar rights: +€79,334
- Cash -€23,602
down €23,602 (-87.5%), from €26,971 to €3,369
mainly Stocks and contracts (-€188,676) and Investment in fixed assets (net) (-€180,472)
- Receivables within one year +€20,851
up €20,851 (+18.5%), from €113,014 to €133,865
of which Trade receivables: +€23,176
- Deferred charges and accrued income +€15,880
up €15,880 (+4291.8%), from €370 to €16,250
- Advances received +€111,950
up €111,950 (+107.5%), from €104,164 to €216,114
- Trade debts +€87,648
up €87,648 (+188.8%), from €46,425 to €134,073
- Debts after one year +€52,979
new in 2025: €52,979
- Other debts +€49,847
up €49,847 (+48.9%), from €101,902 to €151,749
- Tax, wage and social debts +€32,619
up €32,619 (+423.9%), from €7,695 to €40,315
of which Remuneration and social security: +€22,269
- Gross operating margin +€267,950
up €267,950 (+237.2%), from €112,957 to €380,906
- Purchases and services -€223,843
down €223,843 (-32.7%), from €683,833 to €459,991
- Staff costs +€223,201
up €223,201 (+295.7%), from €75,477 to €298,679
- Depreciation +€33,073
up €33,073 (+163.2%), from €20,260 to €53,334
- Other operating charges +€5,004
up €5,004 (+319.1%), from €1,568 to €6,573
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 | €393,821 | €722,764 | +€328,943 | +83.5% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €161,137 | €288,275 | +€127,138 | +78.9% |
| Tangible fixed assets | 22/27 | €152,837 | €273,475 | +€120,638 | +78.9% |
| Plant, machinery and equipment | 23 | €1,820 | €1,430 | -€390 | -21.4% |
| Furniture and vehicles | 24 | €88,504 | €132,058 | +€43,555 | +49.2% |
| Leasing and similar rights | 25 | €53,366 | €132,700 | +€79,334 | +148.7% |
| Other tangible fixed assets | 26 | €9,146 | €7,286 | -€1,860 | -20.3% |
| Financial fixed assets | 28 | €8,300 | €14,800 | +€6,500 | +78.3% |
| Current assets | 29/58 | €232,685 | €434,490 | +€201,805 | +86.7% |
| Stocks and contracts in progress | 3 | €92,331 | €281,007 | +€188,676 | +204.3% |
| Stocks | 30/36 | €92,331 | €143,747 | +€51,417 | +55.7% |
| Contracts in progress | 37 | - | €137,260 | +€137,260 | |
| Amounts receivable within one year | 40/41 | €113,014 | €133,865 | +€20,851 | +18.5% |
| Trade receivables | 40 | €110,264 | €133,440 | +€23,176 | +21.0% |
| Other amounts receivable | 41 | €2,750 | €425 | -€2,324 | -84.5% |
| Cash at bank and in hand | 54/58 | €26,971 | €3,369 | -€23,602 | -87.5% |
| Deferred charges and accrued income | 490/1 | €370 | €16,250 | +€15,880 | +4291.8% |
| Total equity and liabilities | 10/49 | €393,821 | €722,764 | +€328,943 | +83.5% |
| Equity | 10/15 | €111,939 | €127,535 | +€15,597 | +13.9% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €11,939 | €27,535 | +€15,597 | +130.6% |
| Amounts payable | 17/49 | €281,883 | €595,229 | +€313,346 | +111.2% |
| Amounts payable after more than one year | 17 | - | €52,979 | +€52,979 | |
| Financial debts | 170/4 | - | €52,979 | +€52,979 | |
| Amounts payable within one year | 42/48 | €281,883 | €542,251 | +€260,368 | +92.4% |
| Current portion of amounts payable after more than one year | 42 | €21,696 | €0 | -€21,696 | -100.0% |
| Trade debts | 44 | €46,425 | €134,073 | +€87,648 | +188.8% |
| Suppliers | 440/4 | €46,425 | €134,073 | +€87,648 | +188.8% |
| Advances received on contracts in progress | 46 | €104,164 | €216,114 | +€111,950 | +107.5% |
| Taxes, remuneration and social security | 45 | €7,695 | €40,315 | +€32,619 | +423.9% |
| Taxes | 450/3 | €3,318 | €13,668 | +€10,350 | +311.9% |
| Remuneration and social security | 454/9 | €4,377 | €26,646 | +€22,269 | +508.8% |
| Other amounts payable | 47/48 | €101,902 | €151,749 | +€49,847 | +48.9% |
| Goods, raw materials, services and sundry goods | 60/61 | €683,833 | €459,991 | -€223,843 | -32.7% |
| Remuneration, social security and pensions | 62 | €75,477 | €298,679 | +€223,201 | +295.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,260 | €53,334 | +€33,073 | +163.2% |
| Other operating charges | 640/8 | €1,568 | €6,573 | +€5,004 | +319.1% |
| Gross operating margin | 9900 | €112,957 | €380,906 | +€267,950 | +237.2% |
| Operating profit (loss) | 9901 | €15,650 | €22,321 | +€6,671 | +42.6% |
| Financial income | 75/76B | €57 | €0 | -€56 | -99.3% |
| Recurring financial income | 75 | €57 | €0 | -€56 | -99.3% |
| Non-recurring financial income | 76B | - | €0 | +€0 | |
| Financial charges | 65/66B | €469 | €1,000 | +€531 | +113.2% |
| Recurring financial charges | 65 | €469 | €1,000 | +€531 | +113.2% |
| Profit (loss) for the period before taxes | 9903 | €15,238 | €21,322 | +€6,083 | +39.9% |
| Income taxes | 67/77 | €3,300 | €5,725 | +€2,425 | +73.5% |
| Profit (loss) for the period | 9904 | €11,939 | €15,597 | +€3,658 | +30.6% |
| Profit (loss) for the period to be appropriated | 9905 | €11,939 | €15,597 | +€3,658 | +30.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.