A TRE C: 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.
A TRE C
Largest movements
- Receivables within one year -€454,425
down €454,425 (-79.8%), from €569,553 to €115,128
of which Other amounts receivable: -€460,563
- Tangible fixed assets -€51,080
down €51,080 (-14.6%), from €350,628 to €299,548
of which Land and buildings: -€229,932
- Other debts -€277,640
down €277,640 (-89.7%), from €309,652 to €32,012
- Profit (loss) carried forward -€261,098
down €261,098 (-237.3%), from -€110,043 to -€371,141
- Trade debts +€33,348
up €33,348 (+971.2%), from €3,434 to €36,782
- Depreciation -€33,186
down €33,186 (-100.0%), from €33,186 to €0
- Gross operating margin -€23,693
down €23,693 (-127.6%), from -€18,569 to -€42,262
- Financial income +€23,215
up €23,215 (+621.4%), from €3,736 to €26,950
- Financial charges +€15,230
up €15,230 (+9495.5%), from €160 to €15,390
- Other operating charges -€1,037
down €1,037 (-69.1%), from €1,501 to €464
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 | €2,267,592 | €1,766,822 | -€500,770 | -22.1% |
| Fixed assets | 21/28 | €1,673,692 | €1,622,612 | -€51,080 | -3.1% |
| Tangible fixed assets | 22/27 | €350,628 | €299,548 | -€51,080 | -14.6% |
| Land and buildings | 22 | €350,628 | €120,696 | -€229,932 | -65.6% |
| Assets under construction and advance payments | 27 | - | €178,852 | +€178,852 | |
| Financial fixed assets | 28 | €1,323,064 | €1,323,064 | = | 0.0% |
| Current assets | 29/58 | €593,901 | €144,210 | -€449,690 | -75.7% |
| Amounts receivable within one year | 40/41 | €569,553 | €115,128 | -€454,425 | -79.8% |
| Trade receivables | 40 | €8,938 | €15,076 | +€6,138 | +68.7% |
| Other amounts receivable | 41 | €560,616 | €100,052 | -€460,563 | -82.2% |
| Cash at bank and in hand | 54/58 | €24,340 | €27,415 | +€3,074 | +12.6% |
| Deferred charges and accrued income | 490/1 | €7 | €1,668 | +€1,660 | +22934.5% |
| Total equity and liabilities | 10/49 | €2,267,592 | €1,766,822 | -€500,770 | -22.1% |
| Equity | 10/15 | €1,954,313 | €1,693,215 | -€261,098 | -13.4% |
| Contributions | 10/11 | €467,454 | €467,454 | = | 0.0% |
| Reserves | 13 | €1,596,902 | €1,596,902 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €56,250 | €56,250 | = | 0.0% |
| Distributable reserves | 133 | €1,540,652 | €1,540,652 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€110,043 | -€371,141 | -€261,098 | -237.3% |
| Amounts payable | 17/49 | €313,279 | €73,608 | -€239,672 | -76.5% |
| Amounts payable within one year | 42/48 | €313,086 | €73,608 | -€239,479 | -76.5% |
| Trade debts | 44 | €3,434 | €36,782 | +€33,348 | +971.2% |
| Suppliers | 440/4 | €3,434 | €36,782 | +€33,348 | +971.2% |
| Taxes, remuneration and social security | 45 | - | €4,813 | +€4,813 | |
| Taxes | 450/3 | - | €4,813 | +€4,813 | |
| Other amounts payable | 47/48 | €309,652 | €32,012 | -€277,640 | -89.7% |
| Accrued charges and deferred income | 492/3 | €193 | €0 | -€193 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,186 | €0 | -€33,186 | -100.0% |
| Other operating charges | 640/8 | €1,501 | €464 | -€1,037 | -69.1% |
| Non-recurring operating charges | 66A | - | €229,932 | +€229,932 | |
| Gross operating margin | 9900 | -€18,569 | -€42,262 | -€23,693 | -127.6% |
| Operating profit (loss) | 9901 | -€53,255 | -€272,658 | -€219,402 | -412.0% |
| Financial income | 75/76B | €3,736 | €26,950 | +€23,215 | +621.4% |
| Recurring financial income | 75 | €3,736 | €26,950 | +€23,215 | +621.4% |
| Financial charges | 65/66B | €160 | €15,390 | +€15,230 | +9495.5% |
| Recurring financial charges | 65 | €160 | €15,390 | +€15,230 | +9495.5% |
| Profit (loss) for the period before taxes | 9903 | -€49,680 | -€261,098 | -€211,418 | -425.6% |
| Income taxes | 67/77 | - | €1 | +€1 | |
| Profit (loss) for the period | 9904 | -€49,680 | -€261,098 | -€211,418 | -425.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€49,680 | -€261,098 | -€211,418 | -425.6% |
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.