Den Troon: 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.
Den Troon
Largest movements
- Stocks and contracts +€94,717
up €94,717 (+8.1%), from €1.2m to €1.3m
- Deferred charges and accrued income -€58,953
down €58,953 (-26.7%), from €220,753 to €161,800
- Cash -€34,446
down €34,446 (-45.1%), from €76,354 to €41,908
mainly Stocks and contracts (-€94,717) and Debts after one year (-€92,986)
- Receivables after one year -€19,000
no longer reported in 2025 (was €19,000)
- Receivables within one year +€16,159
up €16,159 (+18.8%), from €86,130 to €102,289
of which Trade receivables: +€21,364
- Debts after one year -€92,986
down €92,986 (-7.9%), from €1.2m to €1.1m
of which Financial debts: -€92,986
- Trade debts +€92,028
up €92,028 (+319%), from €28,848 to €120,876
- Other debts -€68,904
down €68,904 (-96.5%), from €71,392 to €2,488
- Current portion of long-term debt +€38,570
new in 2025: €38,570
- Tax, wage and social debts +€24,747
up €24,747 (+1,164%), from €2,125 to €26,872
- Gross operating margin -€37,019
down €37,019 (-37.4%), from €99,058 to €62,039
- Financial charges -€14,714
down €14,714 (-20.2%), from €72,764 to €58,050
- Other operating charges -€11,090
down €11,090 (-75.1%), from €14,771 to €3,681
- Financial income +€2,631
up €2,631 (+359%), from €734 to €3,365
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 | €1,579,670 | €1,575,173 | -€4,496 | -0.3% |
| Fixed assets | 21/28 | €13,037 | €10,064 | -€2,973 | -22.8% |
| Tangible fixed assets | 22/27 | €7,787 | €6,164 | -€1,623 | -20.8% |
| Plant, machinery and equipment | 23 | €7,044 | €6,164 | -€880 | -12.5% |
| Furniture and vehicles | 24 | €744 | - | -€744 | |
| Financial fixed assets | 28 | €5,250 | €3,900 | -€1,350 | -25.7% |
| Current assets | 29/58 | €1,566,632 | €1,565,109 | -€1,523 | -0.1% |
| Amounts receivable after more than one year | 29 | €19,000 | - | -€19,000 | |
| Other amounts receivable | 291 | €19,000 | - | -€19,000 | |
| Stocks and contracts in progress | 3 | €1,164,396 | €1,259,113 | +€94,717 | +8.1% |
| Stocks | 30/36 | €1,164,396 | €1,259,113 | +€94,717 | +8.1% |
| Amounts receivable within one year | 40/41 | €86,130 | €102,289 | +€16,159 | +18.8% |
| Trade receivables | 40 | €24,469 | €45,833 | +€21,364 | +87.3% |
| Other amounts receivable | 41 | €61,660 | €56,455 | -€5,205 | -8.4% |
| Cash at bank and in hand | 54/58 | €76,354 | €41,908 | -€34,446 | -45.1% |
| Deferred charges and accrued income | 490/1 | €220,753 | €161,800 | -€58,953 | -26.7% |
| Total equity and liabilities | 10/49 | €1,579,670 | €1,575,173 | -€4,496 | -0.3% |
| Equity | 10/15 | €292,805 | €294,854 | +€2,050 | +0.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €95,472 | €95,472 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €74,862 | €74,862 | = | 0.0% |
| Profit (loss) carried forward | 14 | €178,733 | €180,782 | +€2,050 | +1.1% |
| Amounts payable | 17/49 | €1,286,865 | €1,280,319 | -€6,546 | -0.5% |
| Amounts payable after more than one year | 17 | €1,184,499 | €1,091,513 | -€92,986 | -7.9% |
| Financial debts | 170/4 | €1,180,284 | €1,087,298 | -€92,986 | -7.9% |
| Other amounts payable | 178/9 | €4,215 | €4,215 | = | 0.0% |
| Amounts payable within one year | 42/48 | €102,365 | €188,806 | +€86,441 | +84.4% |
| Current portion of amounts payable after more than one year | 42 | - | €38,570 | +€38,570 | |
| Trade debts | 44 | €28,848 | €120,876 | +€92,028 | +319% |
| Suppliers | 440/4 | €28,848 | €120,876 | +€92,028 | +319% |
| Taxes, remuneration and social security | 45 | €2,125 | €26,872 | +€24,747 | +1,164% |
| Taxes | 450/3 | €2,125 | €26,872 | +€24,747 | +1,164% |
| Other amounts payable | 47/48 | €71,392 | €2,488 | -€68,904 | -96.5% |
| Non-recurring operating income | 76A | €66,905 | - | -€66,905 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,623 | €1,623 | -€0 | 0.0% |
| Other operating charges | 640/8 | €14,771 | €3,681 | -€11,090 | -75.1% |
| Gross operating margin | 9900 | €99,058 | €62,039 | -€37,019 | -37.4% |
| Operating profit (loss) | 9901 | €82,665 | €56,735 | -€25,930 | -31.4% |
| Financial income | 75/76B | €734 | €3,365 | +€2,631 | +359% |
| Recurring financial income | 75 | €734 | €3,365 | +€2,631 | +359% |
| Financial charges | 65/66B | €72,764 | €58,050 | -€14,714 | -20.2% |
| Recurring financial charges | 65 | €72,764 | €58,050 | -€14,714 | -20.2% |
| Profit (loss) for the period before taxes | 9903 | €10,634 | €2,050 | -€8,584 | -80.7% |
| Income taxes | 67/77 | €33 | - | -€33 | |
| Profit (loss) for the period | 9904 | €10,601 | €2,050 | -€8,551 | -80.7% |
| Profit (loss) for the period to be appropriated | 9905 | €10,601 | €2,050 | -€8,551 | -80.7% |
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 17 October 2026 via checked.be.