ENTRAST: 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.
ENTRAST
Largest movements
- Receivables within one year -€8,159
down €8,159 (-39.9%), from €20,438 to €12,279
of which Trade receivables: -€10,512
- Cash -€7,400
down €7,400 (-7.8%), from €95,114 to €87,714
mainly Investment in fixed assets (net) (-€33,450) and Debts after one year (-€11,896)
- Tangible fixed assets -€5,161
down €5,161 (-3.0%), from €171,872 to €166,711
of which Furniture and vehicles: -€3,856
- Debts after one year -€11,896
down €11,896 (-10.5%), from €112,891 to €100,995
- Other debts -€8,805
down €8,805 (-51.9%), from €16,967 to €8,162
- Profit (loss) carried forward -€7,457
new in 2025: -€7,457
- Current portion of long-term debt +€6,806
up €6,806 (+20.0%), from €34,092 to €40,898
- Trade debts +€4,478
up €4,478 (+20.8%), from €21,521 to €25,999
- Gross operating margin -€11,158
down €11,158 (-23.6%), from €47,244 to €36,086
- Depreciation +€7,701
up €7,701 (+24.9%), from €30,910 to €38,611
- Taxes -€3,359
down €3,359 (-91.1%), from €3,685 to €326
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 | €294,516 | €276,386 | -€18,130 | -6.2% |
| Fixed assets | 21/28 | €171,872 | €166,711 | -€5,161 | -3.0% |
| Tangible fixed assets | 22/27 | €171,872 | €166,711 | -€5,161 | -3.0% |
| Land and buildings | 22 | €527 | €263 | -€263 | -50.0% |
| Plant, machinery and equipment | 23 | €2,823 | €1,781 | -€1,042 | -36.9% |
| Furniture and vehicles | 24 | €168,522 | €164,667 | -€3,856 | -2.3% |
| Current assets | 29/58 | €122,643 | €109,675 | -€12,968 | -10.6% |
| Amounts receivable within one year | 40/41 | €20,438 | €12,279 | -€8,159 | -39.9% |
| Trade receivables | 40 | €12,093 | €1,581 | -€10,512 | -86.9% |
| Other amounts receivable | 41 | €8,346 | €10,698 | +€2,352 | +28.2% |
| Cash at bank and in hand | 54/58 | €95,114 | €87,714 | -€7,400 | -7.8% |
| Deferred charges and accrued income | 490/1 | €7,091 | €9,682 | +€2,591 | +36.5% |
| Total equity and liabilities | 10/49 | €294,516 | €276,386 | -€18,130 | -6.2% |
| Equity | 10/15 | €108,072 | €99,383 | -€8,689 | -8.0% |
| Contributions | 10/11 | €27,500 | €27,500 | = | 0.0% |
| Reserves | 13 | €80,572 | €79,340 | -€1,232 | -1.5% |
| Distributable reserves | 133 | €80,572 | €79,340 | -€1,232 | -1.5% |
| Profit (loss) carried forward | 14 | - | -€7,457 | -€7,457 | |
| Amounts payable | 17/49 | €186,444 | €177,004 | -€9,440 | -5.1% |
| Amounts payable after more than one year | 17 | €112,891 | €100,995 | -€11,896 | -10.5% |
| Financial debts | 170/4 | €112,891 | €100,995 | -€11,896 | -10.5% |
| Amounts payable within one year | 42/48 | €72,828 | €75,249 | +€2,421 | +3.3% |
| Current portion of amounts payable after more than one year | 42 | €34,092 | €40,898 | +€6,806 | +20.0% |
| Trade debts | 44 | €21,521 | €25,999 | +€4,478 | +20.8% |
| Suppliers | 440/4 | €21,521 | €25,999 | +€4,478 | +20.8% |
| Taxes, remuneration and social security | 45 | €247 | €189 | -€58 | -23.6% |
| Taxes | 450/3 | €247 | €189 | -€58 | -23.6% |
| Other amounts payable | 47/48 | €16,967 | €8,162 | -€8,805 | -51.9% |
| Accrued charges and deferred income | 492/3 | €725 | €760 | +€35 | +4.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,910 | €38,611 | +€7,701 | +24.9% |
| Other operating charges | 640/8 | €745 | €313 | -€431 | -57.9% |
| Gross operating margin | 9900 | €47,244 | €36,086 | -€11,158 | -23.6% |
| Operating profit (loss) | 9901 | €15,589 | -€2,838 | -€18,427 | |
| Financial income | 75/76B | €116 | €316 | +€200 | +172% |
| Recurring financial income | 75 | €116 | €316 | +€200 | +172% |
| Financial charges | 65/66B | €5,737 | €5,840 | +€103 | +1.8% |
| Recurring financial charges | 65 | €5,737 | €5,840 | +€103 | +1.8% |
| Profit (loss) for the period before taxes | 9903 | €9,967 | -€8,363 | -€18,330 | |
| Income taxes | 67/77 | €3,685 | €326 | -€3,359 | -91.1% |
| Profit (loss) for the period | 9904 | €6,282 | -€8,689 | -€14,972 | |
| Profit (loss) for the period to be appropriated | 9905 | €6,282 | -€8,689 | -€14,972 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.