DEN TRUWEEL: 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 TRUWEEL
Largest movements
- Tangible fixed assets -€45,969
down €45,969 (-12.1%), from €380,768 to €334,799
of which Land and buildings: -€25,385
- Cash +€38,912
up €38,912 (+252%), from €15,440 to €54,352
mainly Depreciation (+€49,416) and Stocks and contracts (+€10,559)
- Stocks and contracts -€10,559
down €10,559 (-20.0%), from €52,795 to €42,236
- Current investments +€7,248
up €7,248 (+5.2%), from €138,068 to €145,316
- Receivables within one year -€6,279
down €6,279 (-26.2%), from €23,969 to €17,690
- Profit (loss) carried forward -€14,848
down €14,848 (-3.2%), from €458,623 to €443,775
- Gross operating margin +€26,158
up €26,158 (+296%), from €8,851 to €35,009
- Write-downs +€10,559
new in 2025: €10,559
- Financial income +€2,696
up €2,696 (+23.8%), from €11,314 to €14,010
- Taxes +€1,392
up €1,392, from -€66 to €1,326
- Depreciation +€886
up €886 (+1.8%), from €48,530 to €49,416
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 | €615,029 | €601,523 | -€13,506 | -2.2% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €381,820 | €335,851 | -€45,969 | -12.0% |
| Intangible fixed assets | 21 | €754 | €754 | = | 0.0% |
| Tangible fixed assets | 22/27 | €380,768 | €334,799 | -€45,969 | -12.1% |
| Land and buildings | 22 | €296,112 | €270,727 | -€25,385 | -8.6% |
| Plant, machinery and equipment | 23 | €432 | €0 | -€432 | -100% |
| Furniture and vehicles | 24 | €84,224 | €64,072 | -€20,152 | -23.9% |
| Financial fixed assets | 28 | €298 | €298 | = | 0.0% |
| Current assets | 29/58 | €233,209 | €265,672 | +€32,463 | +13.9% |
| Stocks and contracts in progress | 3 | €52,795 | €42,236 | -€10,559 | -20.0% |
| Stocks | 30/36 | €52,795 | €42,236 | -€10,559 | -20.0% |
| Amounts receivable within one year | 40/41 | €23,969 | €17,690 | -€6,279 | -26.2% |
| Trade receivables | 40 | €23,969 | €17,690 | -€6,279 | -26.2% |
| Current investments | 50/53 | €138,068 | €145,316 | +€7,248 | +5.2% |
| Cash at bank and in hand | 54/58 | €15,440 | €54,352 | +€38,912 | +252% |
| Deferred charges and accrued income | 490/1 | €2,937 | €6,078 | +€3,141 | +107% |
| Total equity and liabilities | 10/49 | €615,029 | €601,523 | -€13,506 | -2.2% |
| Equity | 10/15 | €605,123 | €590,275 | -€14,848 | -2.5% |
| Contributions | 10/11 | €115,000 | €115,000 | = | 0.0% |
| Reserves | 13 | €31,500 | €31,500 | = | 0.0% |
| Non-distributable reserves | 130/1 | €11,500 | €11,500 | = | 0.0% |
| Reserves not available under the articles | 1311 | €11,500 | €11,500 | = | 0.0% |
| Distributable reserves | 133 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €458,623 | €443,775 | -€14,848 | -3.2% |
| Amounts payable | 17/49 | €9,906 | €11,248 | +€1,342 | +13.5% |
| Amounts payable within one year | 42/48 | €9,876 | €11,227 | +€1,351 | +13.7% |
| Trade debts | 44 | €3,382 | €4,502 | +€1,120 | +33.1% |
| Suppliers | 440/4 | €3,382 | €4,502 | +€1,120 | +33.1% |
| Taxes, remuneration and social security | 45 | €6,337 | €6,396 | +€59 | +0.9% |
| Taxes | 450/3 | €6,337 | €6,396 | +€59 | +0.9% |
| Other amounts payable | 47/48 | €157 | €329 | +€172 | +110% |
| Accrued charges and deferred income | 492/3 | €30 | €21 | -€9 | -30.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €48,530 | €49,416 | +€886 | +1.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €10,559 | +€10,559 | |
| Other operating charges | 640/8 | €2,292 | €2,476 | +€184 | +8.0% |
| Gross operating margin | 9900 | €8,851 | €35,009 | +€26,158 | +296% |
| Operating profit (loss) | 9901 | -€41,971 | -€27,442 | +€14,529 | +34.6% |
| Financial income | 75/76B | €11,314 | €14,010 | +€2,696 | +23.8% |
| Recurring financial income | 75 | €11,314 | €14,010 | +€2,696 | +23.8% |
| Financial charges | 65/66B | €90 | €90 | = | 0.0% |
| Recurring financial charges | 65 | €90 | €90 | = | 0.0% |
| Profit (loss) for the period before taxes | 9903 | -€30,747 | -€13,522 | +€17,225 | +56.0% |
| Income taxes | 67/77 | -€66 | €1,326 | +€1,392 | |
| Profit (loss) for the period | 9904 | -€30,681 | -€14,848 | +€15,833 | +51.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€30,681 | -€14,848 | +€15,833 | +51.6% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 27 October 2026 via checked.be.