Ecuries du Trèfle: 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.
Ecuries du Trèfle
Largest movements
- Tangible fixed assets +€116,643
up €116,643 (+401%), from €29,083 to €145,726
of which Leasing and similar rights: +€85,388
- Cash +€17,253
up €17,253 (+253%), from €6,826 to €24,079
mainly Debts after one year (+€121,382) and Current portion of long-term debt (+€25,324)
- Receivables within one year +€3,966
up €3,966 (+4.1%), from €97,192 to €101,157
of which Trade receivables: +€3,579
- Debts after one year +€121,382
up €121,382 (+377%), from €32,160 to €153,542
- Current portion of long-term debt +€25,324
up €25,324 (+877%), from €2,888 to €28,212
- Trade debts +€22,730
up €22,730 (+603%), from €3,768 to €26,498
- Profit (loss) carried forward -€14,996
down €14,996 (-87.9%), from €17,052 to €2,056
- Tax, wage and social debts -€9,372
down €9,372 (-98.6%), from €9,508 to €136
- Depreciation +€15,606
up €15,606 (+271%), from €5,750 to €21,357
- Gross operating margin -€13,805
down €13,805 (-45.2%), from €30,556 to €16,751
- Financial charges +€5,048
up €5,048 (+124%), from €4,071 to €9,119
- Staff costs -€1,045
down €1,045 (-70.3%), from €1,487 to €442
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 | €133,379 | €271,858 | +€138,479 | +104% |
| Fixed assets | 21/28 | €29,083 | €145,726 | +€116,643 | +401% |
| Tangible fixed assets | 22/27 | €29,083 | €145,726 | +€116,643 | +401% |
| Plant, machinery and equipment | 23 | €13,899 | €45,809 | +€31,911 | +230% |
| Furniture and vehicles | 24 | €840 | €184 | -€656 | -78.1% |
| Leasing and similar rights | 25 | €14,344 | €99,733 | +€85,388 | +595% |
| Current assets | 29/58 | €104,296 | €126,132 | +€21,836 | +20.9% |
| Stocks and contracts in progress | 3 | €220 | €396 | +€176 | +80.0% |
| Stocks | 30/36 | €220 | €396 | +€176 | +80.0% |
| Amounts receivable within one year | 40/41 | €97,192 | €101,157 | +€3,966 | +4.1% |
| Trade receivables | 40 | €97,178 | €100,756 | +€3,579 | +3.7% |
| Other amounts receivable | 41 | €14 | €401 | +€387 | +2,743% |
| Cash at bank and in hand | 54/58 | €6,826 | €24,079 | +€17,253 | +253% |
| Deferred charges and accrued income | 490/1 | €58 | €500 | +€442 | +762% |
| Total equity and liabilities | 10/49 | €133,379 | €271,858 | +€138,479 | +104% |
| Equity | 10/15 | €32,052 | €17,056 | -€14,996 | -46.8% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €17,052 | €2,056 | -€14,996 | -87.9% |
| Amounts payable | 17/49 | €101,327 | €254,802 | +€153,475 | +151% |
| Amounts payable after more than one year | 17 | €32,160 | €153,542 | +€121,382 | +377% |
| Financial debts | 170/4 | €32,160 | €153,542 | +€121,382 | +377% |
| Amounts payable within one year | 42/48 | €64,667 | €101,259 | +€36,592 | +56.6% |
| Current portion of amounts payable after more than one year | 42 | €2,888 | €28,212 | +€25,324 | +877% |
| Trade debts | 44 | €3,768 | €26,498 | +€22,730 | +603% |
| Suppliers | 440/4 | €3,768 | €26,498 | +€22,730 | +603% |
| Taxes, remuneration and social security | 45 | €9,508 | €136 | -€9,372 | -98.6% |
| Taxes | 450/3 | €9,508 | €136 | -€9,372 | -98.6% |
| Other amounts payable | 47/48 | €48,504 | €46,414 | -€2,090 | -4.3% |
| Accrued charges and deferred income | 492/3 | €4,500 | - | -€4,500 | |
| Remuneration, social security and pensions | 62 | €1,487 | €442 | -€1,045 | -70.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,750 | €21,357 | +€15,606 | +271% |
| Other operating charges | 640/8 | €948 | €721 | -€226 | -23.9% |
| Non-recurring operating charges | 66A | - | €116 | +€116 | |
| Gross operating margin | 9900 | €30,556 | €16,751 | -€13,805 | -45.2% |
| Operating profit (loss) | 9901 | €22,370 | -€5,886 | -€28,256 | |
| Financial income | 75/76B | €8 | €9 | +€1 | +11.3% |
| Recurring financial income | 75 | €8 | €9 | +€1 | +11.3% |
| Financial charges | 65/66B | €4,071 | €9,119 | +€5,048 | +124% |
| Recurring financial charges | 65 | €4,071 | €9,119 | +€5,048 | +124% |
| Profit (loss) for the period before taxes | 9903 | €18,307 | -€14,996 | -€33,302 | |
| Profit (loss) for the period | 9904 | €18,307 | -€14,996 | -€33,302 | |
| Profit (loss) for the period to be appropriated | 9905 | €18,307 | -€14,996 | -€33,302 |
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 24 October 2026 via checked.be.