LA TRUITE D'ARGENT: what changed
What changed
LA TRUITE D'ARGENT
NACE 55.100, Hotels and similar accommodation
filed annual accounts (NBB)
Net result for the year
€9,938
2024 · €23,800-€13,862
Equity
€832,606
2024 · €762,132+€70,474
Cash
€122,540
2024 · €131,554-€9,014
Balance sheet total
€1.3m
2024 · €1.1m+€213,616
Largest movements
Assets
- Tangible fixed assets +€206,149
up €206,149 (+21.8%), from €946,618 to €1.2m
of which Land and buildings: +€219,449
Equity and liabilities
- Debts after one year +€116,804
up €116,804 (+56.9%), from €205,416 to €322,220
- Investment grants +€60,536
up €60,536 (+49.7%), from €121,895 to €182,431
- Current portion of long-term debt +€18,829
up €18,829 (+18.5%), from €101,721 to €120,551
Income statement
- Depreciation +€12,958
up €12,958 (+14.7%), from €88,205 to €101,164
- Taxes -€7,021
down €7,021 (-87.6%), from €8,015 to €994
- Gross operating margin -€6,935
down €6,935 (-5.2%), from €132,533 to €125,598
- Financial charges +€2,745
up €2,745 (+22.8%), from €12,060 to €14,805
- Financial income +€1,951
up €1,951 (+21.4%), from €9,102 to €11,053
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€23,800
Gross operating margin
-€6,935
Depreciation
-€12,958
Other operating charges
-€196
Financial income
+€1,951
Financial charges
-€2,745
Taxes
+€7,021
Result 2025
€9,938
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€102,130
Investment
-€307,313
Financing
+€196,169
Cash 2024
€131,554
From operations (derived)
+€102,130
Net result for the year
+€9,938
Depreciation
+€101,164
Stocks and contracts
-€2,488
Receivables within one year
-€9,126
Deferred charges and accrued income
-€4,867
Trade debts
+€3,373
Tax, wage and social debts
+€591
Advances received
+€3,545
Investment (derived)
-€307,313
Investment in fixed assets (net)
-€307,313
Financing
+€196,169
Debts after one year
+€116,804
Current portion of long-term debt
+€18,829
Contributions, distributions and other
+€60,536
Cash 2025
€122,540
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,101,999 | €1,315,615 | +€213,616 | +19.4% |
| Fixed assets | 21/28 | €946,618 | €1,152,767 | +€206,149 | +21.8% |
| Tangible fixed assets | 22/27 | €946,618 | €1,152,767 | +€206,149 | +21.8% |
| Land and buildings | 22 | €869,257 | €1,088,705 | +€219,449 | +25.2% |
| Plant, machinery and equipment | 23 | €41,714 | €38,709 | -€3,005 | -7.2% |
| Furniture and vehicles | 24 | €35,648 | €25,352 | -€10,295 | -28.9% |
| Current assets | 29/58 | €155,381 | €162,848 | +€7,467 | +4.8% |
| Stocks and contracts in progress | 3 | €7,124 | €9,612 | +€2,488 | +34.9% |
| Stocks | 30/36 | €7,124 | €9,612 | +€2,488 | +34.9% |
| Amounts receivable within one year | 40/41 | €1,683 | €10,809 | +€9,126 | +542% |
| Trade receivables | 40 | €515 | - | -€515 | |
| Other amounts receivable | 41 | €1,167 | €10,809 | +€9,641 | +826% |
| Cash at bank and in hand | 54/58 | €131,554 | €122,540 | -€9,014 | -6.9% |
| Deferred charges and accrued income | 490/1 | €15,021 | €19,888 | +€4,867 | +32.4% |
| Total equity and liabilities | 10/49 | €1,101,999 | €1,315,615 | +€213,616 | +19.4% |
| Equity | 10/15 | €762,132 | €832,606 | +€70,474 | +9.2% |
| Contributions | 10/11 | €354,320 | €354,320 | = | 0.0% |
| Reserves | 13 | €285,917 | €295,855 | +€9,938 | +3.5% |
| Distributable reserves | 133 | €285,917 | €295,855 | +€9,938 | +3.5% |
| Investment grants | 15 | €121,895 | €182,431 | +€60,536 | +49.7% |
| Amounts payable | 17/49 | €339,867 | €483,009 | +€143,142 | +42.1% |
| Amounts payable after more than one year | 17 | €205,416 | €322,220 | +€116,804 | +56.9% |
| Financial debts | 170/4 | €205,416 | €322,220 | +€116,804 | +56.9% |
| Amounts payable within one year | 42/48 | €132,426 | €158,764 | +€26,338 | +19.9% |
| Current portion of amounts payable after more than one year | 42 | €101,721 | €120,551 | +€18,829 | +18.5% |
| Trade debts | 44 | - | €3,373 | +€3,373 | |
| Suppliers | 440/4 | - | €3,373 | +€3,373 | |
| Advances received on contracts in progress | 46 | €7,347 | €10,892 | +€3,545 | +48.2% |
| Taxes, remuneration and social security | 45 | €3,323 | €3,915 | +€591 | +17.8% |
| Taxes | 450/3 | €3,323 | €3,915 | +€591 | +17.8% |
| Other amounts payable | 47/48 | €20,034 | €20,034 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €2,025 | €2,025 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €88,205 | €101,164 | +€12,958 | +14.7% |
| Other operating charges | 640/8 | €9,555 | €9,750 | +€196 | +2.0% |
| Gross operating margin | 9900 | €132,533 | €125,598 | -€6,935 | -5.2% |
| Operating profit (loss) | 9901 | €34,773 | €14,684 | -€20,089 | -57.8% |
| Financial income | 75/76B | €9,102 | €11,053 | +€1,951 | +21.4% |
| Recurring financial income | 75 | €9,102 | €11,053 | +€1,951 | +21.4% |
| Financial charges | 65/66B | €12,060 | €14,805 | +€2,745 | +22.8% |
| Recurring financial charges | 65 | €12,060 | €14,805 | +€2,745 | +22.8% |
| Profit (loss) for the period before taxes | 9903 | €31,815 | €10,932 | -€20,883 | -65.6% |
| Income taxes | 67/77 | €8,015 | €994 | -€7,021 | -87.6% |
| Profit (loss) for the period | 9904 | €23,800 | €9,938 | -€13,862 | -58.2% |
| Profit (loss) for the period to be appropriated | 9905 | €23,800 | €9,938 | -€13,862 | -58.2% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.