B-TRAILERS: 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.
What changed
B-TRAILERS
NACE 29.202, Manufacture of motor vehicles, trailers and semi-trailers
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€144,127
2024 · €115,596+€28,531
Equity
€1.6m
2024 · €1.4m+€133,997
Cash
€23,173
2024 · €34,458-€11,286
Balance sheet total
€4.8m
2024 · €3.8m+€953,130
Largest movements
Assets
- Receivables within one year +€1.2m
up €1.2m (+178.5%), from €677,660 to €1.9m
of which Trade receivables: +€1.1m
- Stocks and contracts -€274,004
down €274,004 (-30.0%), from €914,213 to €640,208
of which Contracts in progress: -€290,882
Equity and liabilities
- Other debts +€465,287
up €465,287 (+138.0%), from €337,227 to €802,513
- Trade debts +€293,030
up €293,030 (+60.1%), from €487,569 to €780,599
- Reserves +€139,100
up €139,100 (+15.9%), from €875,759 to €1.0m
- Debts after one year -€127,006
down €127,006 (-11.3%), from €1.1m to €998,254
- Tax, wage and social debts +€103,138
up €103,138 (+59.2%), from €174,281 to €277,419
of which Taxes: +€80,283
Income statement
- Gross operating margin +€200,397
up €200,397 (+19.4%), from €1.0m to €1.2m
- Staff costs +€80,439
up €80,439 (+13.5%), from €596,600 to €677,039
- Depreciation +€61,395
up €61,395 (+30.1%), from €204,032 to €265,427
- Taxes +€15,112
up €15,112 (+28.7%), from €52,722 to €67,834
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.
Result 2024
€115,596
Gross operating margin
+€200,397
Staff costs
-€80,439
Depreciation
-€61,395
Write-downs
-€2,230
Other operating charges
-€5,819
Financial income
-€5,905
Financial charges
-€967
Taxes
-€15,112
Result 2025
€144,127
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.
From operations
+€384,076
Investment
-€298,158
Financing
-€97,203
Cash 2024
€34,458
From operations (derived)
+€384,076
Net result for the year
+€144,127
Depreciation
+€265,427
Stocks and contracts
+€274,004
Receivables within one year
-€1.2m
Deferred charges and accrued income
+€4,099
Trade debts
+€293,030
Tax, wage and social debts
+€103,138
Advances received
+€45,712
Other debts
+€465,287
Accrued charges and deferred income
-€960
Investment (derived)
-€298,158
Investment in fixed assets (net)
-€298,158
Financing
-€97,203
Debts after one year
-€127,006
Current portion of long-term debt
+€39,933
Contributions, distributions and other
-€10,130
Cash 2025
€23,173
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,822,015 | €4,775,146 | +€953,130 | +24.9% |
| Fixed assets | 21/28 | €2,170,885 | €2,203,616 | +€32,731 | +1.5% |
| Intangible fixed assets | 21 | €6,441 | €7,149 | +€708 | +11.0% |
| Tangible fixed assets | 22/27 | €2,164,194 | €2,196,217 | +€32,023 | +1.5% |
| Land and buildings | 22 | €1,559,065 | €1,484,383 | -€74,682 | -4.8% |
| Plant, machinery and equipment | 23 | €3,624 | €1,802 | -€1,822 | -50.3% |
| Furniture and vehicles | 24 | €601,505 | €710,032 | +€108,527 | +18.0% |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €1,651,130 | €2,571,529 | +€920,399 | +55.7% |
| Stocks and contracts in progress | 3 | €914,213 | €640,208 | -€274,004 | -30.0% |
| Stocks | 30/36 | €375,563 | €392,440 | +€16,878 | +4.5% |
| Contracts in progress | 37 | €538,650 | €247,768 | -€290,882 | -54.0% |
| Amounts receivable within one year | 40/41 | €677,660 | €1,887,449 | +€1.2m | +178.5% |
| Trade receivables | 40 | €573,251 | €1,650,138 | +€1.1m | +187.9% |
| Other amounts receivable | 41 | €104,409 | €237,311 | +€132,901 | +127.3% |
| Cash at bank and in hand | 54/58 | €34,458 | €23,173 | -€11,286 | -32.8% |
| Deferred charges and accrued income | 490/1 | €24,799 | €20,700 | -€4,099 | -16.5% |
| Total equity and liabilities | 10/49 | €3,822,015 | €4,775,146 | +€953,130 | +24.9% |
| Equity | 10/15 | €1,430,411 | €1,564,408 | +€133,997 | +9.4% |
| Contributions | 10/11 | €488,392 | €488,392 | = | 0.0% |
| Reserves | 13 | €875,759 | €1,014,859 | +€139,100 | +15.9% |
| Distributable reserves | 133 | €875,759 | €1,014,859 | +€139,100 | +15.9% |
| Profit (loss) carried forward | 14 | €1,968 | €1,995 | +€27 | +1.4% |
| Investment grants | 15 | €64,291 | €59,161 | -€5,130 | -8.0% |
| Amounts payable | 17/49 | €2,391,604 | €3,210,738 | +€819,134 | +34.3% |
| Amounts payable after more than one year | 17 | €1,125,260 | €998,254 | -€127,006 | -11.3% |
| Financial debts | 170/4 | €1,125,260 | €998,254 | -€127,006 | -11.3% |
| Amounts payable within one year | 42/48 | €1,241,159 | €2,188,259 | +€947,100 | +76.3% |
| Current portion of amounts payable after more than one year | 42 | €231,305 | €271,238 | +€39,933 | +17.3% |
| Trade debts | 44 | €487,569 | €780,599 | +€293,030 | +60.1% |
| Suppliers | 440/4 | €487,569 | €780,599 | +€293,030 | +60.1% |
| Advances received on contracts in progress | 46 | €10,778 | €56,490 | +€45,712 | +424.1% |
| Taxes, remuneration and social security | 45 | €174,281 | €277,419 | +€103,138 | +59.2% |
| Taxes | 450/3 | €79,158 | €159,441 | +€80,283 | +101.4% |
| Remuneration and social security | 454/9 | €95,123 | €117,978 | +€22,855 | +24.0% |
| Other amounts payable | 47/48 | €337,227 | €802,513 | +€465,287 | +138.0% |
| Accrued charges and deferred income | 492/3 | €25,184 | €24,225 | -€960 | -3.8% |
| Non-recurring operating income | 76A | €4,545 | €12,544 | +€7,999 | +176.0% |
| Remuneration, social security and pensions | 62 | €596,600 | €677,039 | +€80,439 | +13.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €204,032 | €265,427 | +€61,395 | +30.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€3,229 | -€999 | +€2,230 | +69.1% |
| Other operating charges | 640/8 | €45,876 | €51,695 | +€5,819 | +12.7% |
| Gross operating margin | 9900 | €1,031,119 | €1,231,516 | +€200,397 | +19.4% |
| Operating profit (loss) | 9901 | €187,839 | €238,354 | +€50,514 | +26.9% |
| Financial income | 75/76B | €16,491 | €10,586 | -€5,905 | -35.8% |
| Recurring financial income | 75 | €16,491 | €10,586 | -€5,905 | -35.8% |
| Financial charges | 65/66B | €36,013 | €36,979 | +€967 | +2.7% |
| Recurring financial charges | 65 | €36,013 | €36,979 | +€967 | +2.7% |
| Profit (loss) for the period before taxes | 9903 | €168,318 | €211,961 | +€43,643 | +25.9% |
| Income taxes | 67/77 | €52,722 | €67,834 | +€15,112 | +28.7% |
| Profit (loss) for the period | 9904 | €115,596 | €144,127 | +€28,531 | +24.7% |
| Profit (loss) for the period to be appropriated | 9905 | €115,596 | €144,127 | +€28,531 | +24.7% |
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 30 September 2026 via checked.be.