D-TROIS: 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.
D-TROIS
Largest movements
- Receivables within one year +€120,369
up €120,369 (+63.9%), from €188,372 to €308,741
of which Trade receivables: +€66,339
- Cash -€111,046
down €111,046 (-33.7%), from €329,740 to €218,694
mainly Investment in fixed assets (net) (-€219,090) and Receivables within one year (-€120,369)
- Stocks and contracts +€41,725
up €41,725 (+8.2%), from €507,761 to €549,486
- Trade debts +€95,932
up €95,932 (+14.9%), from €643,925 to €739,857
- Debts after one year -€90,358
down €90,358 (-6.1%), from €1.5m to €1.4m
- Current portion of long-term debt +€52,510
up €52,510 (+28.5%), from €184,162 to €236,672
- Gross operating margin -€82,849
down €82,849 (-8.6%), from €965,601 to €882,752
- Staff costs -€23,591
down €23,591 (-4.5%), from €529,889 to €506,298
- Taxes -€18,639
down €18,639 (-48.9%), from €38,122 to €19,483
- Depreciation +€11,809
up €11,809 (+5.8%), from €202,741 to €214,550
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.
Derived cash bridge
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 | €3,326,522 | €3,387,020 | +€60,498 | +1.8% |
| Fixed assets | 21/28 | €2,295,036 | €2,299,576 | +€4,540 | +0.2% |
| Tangible fixed assets | 22/27 | €1,543,649 | €1,548,189 | +€4,540 | +0.3% |
| Land and buildings | 22 | €1,461,812 | €1,317,697 | -€144,115 | -9.9% |
| Plant, machinery and equipment | 23 | €32,918 | €100,476 | +€67,558 | +205% |
| Furniture and vehicles | 24 | €48,919 | €130,016 | +€81,097 | +166% |
| Financial fixed assets | 28 | €751,387 | €751,387 | = | 0.0% |
| Current assets | 29/58 | €1,031,486 | €1,087,444 | +€55,958 | +5.4% |
| Stocks and contracts in progress | 3 | €507,761 | €549,486 | +€41,725 | +8.2% |
| Stocks | 30/36 | €507,761 | €549,486 | +€41,725 | +8.2% |
| Amounts receivable within one year | 40/41 | €188,372 | €308,741 | +€120,369 | +63.9% |
| Trade receivables | 40 | €83,552 | €149,891 | +€66,339 | +79.4% |
| Other amounts receivable | 41 | €104,820 | €158,850 | +€54,030 | +51.5% |
| Cash at bank and in hand | 54/58 | €329,740 | €218,694 | -€111,046 | -33.7% |
| Deferred charges and accrued income | 490/1 | €5,613 | €10,523 | +€4,910 | +87.5% |
| Total equity and liabilities | 10/49 | €3,326,522 | €3,387,020 | +€60,498 | +1.8% |
| Equity | 10/15 | €776,934 | €785,003 | +€8,069 | +1.0% |
| Contributions | 10/11 | €176,000 | €176,000 | = | 0.0% |
| Reserves | 13 | €49,181 | €49,181 | = | 0.0% |
| Non-distributable reserves | 130/1 | €17,600 | €17,600 | = | 0.0% |
| Reserves not available under the articles | 1311 | €17,600 | €17,600 | = | 0.0% |
| Tax-exempt reserves | 132 | €181 | €181 | = | 0.0% |
| Distributable reserves | 133 | €31,400 | €31,400 | = | 0.0% |
| Profit (loss) carried forward | 14 | €551,753 | €559,822 | +€8,069 | +1.5% |
| Amounts payable | 17/49 | €2,549,588 | €2,602,017 | +€52,429 | +2.1% |
| Amounts payable after more than one year | 17 | €1,483,282 | €1,392,924 | -€90,358 | -6.1% |
| Financial debts | 170/4 | €1,483,282 | €1,392,924 | -€90,358 | -6.1% |
| Amounts payable within one year | 42/48 | €1,066,306 | €1,208,311 | +€142,005 | +13.3% |
| Current portion of amounts payable after more than one year | 42 | €184,162 | €236,672 | +€52,510 | +28.5% |
| Trade debts | 44 | €643,925 | €739,857 | +€95,932 | +14.9% |
| Suppliers | 440/4 | €643,925 | €739,857 | +€95,932 | +14.9% |
| Taxes, remuneration and social security | 45 | €105,427 | €103,258 | -€2,169 | -2.1% |
| Taxes | 450/3 | €32,180 | €20,539 | -€11,641 | -36.2% |
| Remuneration and social security | 454/9 | €73,247 | €82,719 | +€9,472 | +12.9% |
| Other amounts payable | 47/48 | €132,792 | €128,524 | -€4,268 | -3.2% |
| Accrued charges and deferred income | 492/3 | - | €782 | +€782 | |
| Remuneration, social security and pensions | 62 | €529,889 | €506,298 | -€23,591 | -4.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €202,741 | €214,550 | +€11,809 | +5.8% |
| Other operating charges | 640/8 | €21,572 | €21,694 | +€122 | +0.6% |
| Gross operating margin | 9900 | €965,601 | €882,752 | -€82,849 | -8.6% |
| Operating profit (loss) | 9901 | €211,399 | €140,210 | -€71,189 | -33.7% |
| Financial income | 75/76B | €1,113 | €1,587 | +€474 | +42.6% |
| Recurring financial income | 75 | €1,113 | €1,587 | +€474 | +42.6% |
| Financial charges | 65/66B | €65,588 | €64,245 | -€1,343 | -2.0% |
| Recurring financial charges | 65 | €65,588 | €64,245 | -€1,343 | -2.0% |
| Profit (loss) for the period before taxes | 9903 | €146,924 | €77,552 | -€69,372 | -47.2% |
| Income taxes | 67/77 | €38,122 | €19,483 | -€18,639 | -48.9% |
| Profit (loss) for the period | 9904 | €108,802 | €58,069 | -€50,733 | -46.6% |
| Profit (loss) for the period to be appropriated | 9905 | €108,802 | €58,069 | -€50,733 | -46.6% |
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 16 October 2026 via checked.be.