Johan Tré: 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.
Johan Tré
Largest movements
- Cash -€117,252
down €117,252 (-75.4%), from €155,581 to €38,329
mainly Tax, wage and social debts (-€39,497) and Net result for the year (-€37,148)
- Tax, wage and social debts -€39,497
down €39,497 (-99.6%), from €39,675 to €179
- Debts after one year -€26,091
down €26,091 (-10.5%), from €248,704 to €222,613
- Profit (loss) carried forward -€18,795
new in 2025: -€18,795
- Reserves -€18,353
down €18,353 (-10.0%), from €183,653 to €165,300
- Other debts -€16,527
no longer reported in 2025 (was €16,527)
- Gross operating margin -€122,499
down €122,499, from €113,266 to -€9,232
- Taxes -€25,018
down €25,018 (-99.3%), from €25,196 to €179
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 | €536,974 | €419,132 | -€117,843 | -21.9% |
| Fixed assets | 21/28 | €363,940 | €362,839 | -€1,102 | -0.3% |
| Tangible fixed assets | 22/27 | €363,940 | €362,839 | -€1,102 | -0.3% |
| Land and buildings | 22 | €347,644 | €335,194 | -€12,450 | -3.6% |
| Plant, machinery and equipment | 23 | €8,649 | €22,891 | +€14,243 | +165% |
| Furniture and vehicles | 24 | €7,648 | €4,753 | -€2,895 | -37.8% |
| Current assets | 29/58 | €173,034 | €56,293 | -€116,741 | -67.5% |
| Amounts receivable within one year | 40/41 | €17,453 | €16,431 | -€1,022 | -5.9% |
| Trade receivables | 40 | €17,443 | - | -€17,443 | |
| Other amounts receivable | 41 | €9 | €16,431 | +€16,421 | +173,585% |
| Cash at bank and in hand | 54/58 | €155,581 | €38,329 | -€117,252 | -75.4% |
| Deferred charges and accrued income | 490/1 | - | €1,533 | +€1,533 | |
| Total equity and liabilities | 10/49 | €536,974 | €419,132 | -€117,843 | -21.9% |
| Equity | 10/15 | €202,253 | €165,105 | -€37,148 | -18.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €183,653 | €165,300 | -€18,353 | -10.0% |
| Distributable reserves | 133 | €183,653 | €165,300 | -€18,353 | -10.0% |
| Profit (loss) carried forward | 14 | - | -€18,795 | -€18,795 | |
| Amounts payable | 17/49 | €334,721 | €254,026 | -€80,695 | -24.1% |
| Amounts payable after more than one year | 17 | €248,704 | €222,613 | -€26,091 | -10.5% |
| Financial debts | 170/4 | €248,704 | €222,613 | -€26,091 | -10.5% |
| Amounts payable within one year | 42/48 | €84,517 | €29,913 | -€54,603 | -64.6% |
| Current portion of amounts payable after more than one year | 42 | €25,474 | €26,101 | +€627 | +2.5% |
| Trade debts | 44 | €2,841 | €3,634 | +€794 | +27.9% |
| Suppliers | 440/4 | €2,841 | €3,634 | +€794 | +27.9% |
| Taxes, remuneration and social security | 45 | €39,675 | €179 | -€39,497 | -99.6% |
| Taxes | 450/3 | €39,675 | €179 | -€39,497 | -99.6% |
| Other amounts payable | 47/48 | €16,527 | - | -€16,527 | |
| Accrued charges and deferred income | 492/3 | €1,500 | €1,500 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,823 | €19,177 | +€354 | +1.9% |
| Other operating charges | 640/8 | €2,651 | €2,010 | -€641 | -24.2% |
| Gross operating margin | 9900 | €113,266 | -€9,232 | -€122,499 | |
| Operating profit (loss) | 9901 | €91,792 | -€30,419 | -€122,212 | |
| Financial income | 75/76B | €749 | - | -€749 | |
| Recurring financial income | 75 | €749 | - | -€749 | |
| Financial charges | 65/66B | €7,205 | €6,550 | -€655 | -9.1% |
| Recurring financial charges | 65 | €7,205 | €6,550 | -€655 | -9.1% |
| Profit (loss) for the period before taxes | 9903 | €85,336 | -€36,970 | -€122,306 | |
| Income taxes | 67/77 | €25,196 | €179 | -€25,018 | -99.3% |
| Profit (loss) for the period | 9904 | €60,140 | -€37,148 | -€97,288 | |
| Profit (loss) for the period to be appropriated | 9905 | €60,140 | -€37,148 | -€97,288 |
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 15 October 2026 via checked.be.