"Den Trul": 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.
"Den Trul"
Largest movements
- Cash -€54,072
down €54,072 (-92.6%), from €58,392 to €4,319
mainly Trade debts (-€73,491) and Other debts (-€28,188)
- Tangible fixed assets -€25,636
down €25,636 (-24.6%), from €104,274 to €78,638
of which Plant, machinery and equipment: -€22,948
- Trade debts -€73,491
down €73,491 (-80.9%), from €90,812 to €17,321
- Other debts -€28,188
down €28,188 (-40.7%), from €69,227 to €41,040
- Tax, wage and social debts +€13,499
up €13,499 (+81.8%), from €16,503 to €30,002
of which Remuneration and social security: +€7,685
- Profit (loss) carried forward +€9,017
up €9,017 (+68.1%), from -€13,245 to -€4,227
- Staff costs +€42,859
up €42,859 (+39.0%), from €109,988 to €152,847
- Gross operating margin +€25,480
up €25,480 (+14.9%), from €170,626 to €196,107
- Depreciation +€16,348
up €16,348 (+172.6%), from €9,472 to €25,820
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 | €168,297 | €89,135 | -€79,162 | -47.0% |
| Formation expenses | 20 | €224 | €40 | -€184 | -82.2% |
| Fixed assets | 21/28 | €104,274 | €78,638 | -€25,636 | -24.6% |
| Tangible fixed assets | 22/27 | €104,274 | €78,638 | -€25,636 | -24.6% |
| Plant, machinery and equipment | 23 | €97,390 | €74,442 | -€22,948 | -23.6% |
| Furniture and vehicles | 24 | €5,965 | €4,031 | -€1,934 | -32.4% |
| Other tangible fixed assets | 26 | €918 | €165 | -€754 | -82.1% |
| Current assets | 29/58 | €63,799 | €10,457 | -€53,342 | -83.6% |
| Amounts receivable within one year | 40/41 | €3,822 | €4,200 | +€377 | +9.9% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €3,822 | €4,200 | +€377 | +9.9% |
| Current investments | 50/53 | €1,110 | €1,470 | +€360 | +32.4% |
| Cash at bank and in hand | 54/58 | €58,392 | €4,319 | -€54,072 | -92.6% |
| Deferred charges and accrued income | 490/1 | €476 | €468 | -€7 | -1.6% |
| Total equity and liabilities | 10/49 | €168,297 | €89,135 | -€79,162 | -47.0% |
| Equity | 10/15 | -€8,245 | €773 | +€9,017 | |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€13,245 | -€4,227 | +€9,017 | +68.1% |
| Amounts payable | 17/49 | €176,542 | €88,362 | -€88,180 | -49.9% |
| Amounts payable within one year | 42/48 | €176,542 | €88,362 | -€88,180 | -49.9% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €90,812 | €17,321 | -€73,491 | -80.9% |
| Suppliers | 440/4 | €90,812 | €17,321 | -€73,491 | -80.9% |
| Taxes, remuneration and social security | 45 | €16,503 | €30,002 | +€13,499 | +81.8% |
| Taxes | 450/3 | €1,815 | €7,628 | +€5,814 | +320.4% |
| Remuneration and social security | 454/9 | €14,688 | €22,373 | +€7,685 | +52.3% |
| Other amounts payable | 47/48 | €69,227 | €41,040 | -€28,188 | -40.7% |
| Non-recurring operating income | 76A | - | €21,500 | +€21,500 | |
| Remuneration, social security and pensions | 62 | €109,988 | €152,847 | +€42,859 | +39.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,472 | €25,820 | +€16,348 | +172.6% |
| Other operating charges | 640/8 | €1,984 | €2,973 | +€989 | +49.9% |
| Gross operating margin | 9900 | €170,626 | €196,107 | +€25,480 | +14.9% |
| Operating profit (loss) | 9901 | €49,182 | €14,467 | -€34,715 | -70.6% |
| Financial income | 75/76B | €29 | €28 | -€1 | -2.7% |
| Recurring financial income | 75 | €29 | €28 | -€1 | -2.7% |
| Financial charges | 65/66B | €3,895 | €5,477 | +€1,582 | +40.6% |
| Recurring financial charges | 65 | €3,895 | €5,477 | +€1,582 | +40.6% |
| Profit (loss) for the period before taxes | 9903 | €45,316 | €9,017 | -€36,298 | -80.1% |
| Income taxes | 67/77 | €6 | €0 | -€6 | -100.0% |
| Profit (loss) for the period | 9904 | €45,310 | €9,017 | -€36,293 | -80.1% |
| Profit (loss) for the period to be appropriated | 9905 | €45,310 | €9,017 | -€36,293 | -80.1% |
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 5 October 2026 via checked.be.