LE TRIO: 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.
LE TRIO
Largest movements
- Cash -€59,180
down €59,180 (-49.2%), from €120,332 to €61,151
mainly Investment in fixed assets (net) (-€83,766) and Receivables within one year (-€9,725)
- Tangible fixed assets +€33,588
up €33,588 (+22.3%), from €150,631 to €184,219
of which Furniture and vehicles: +€28,426
- Receivables within one year +€9,725
up €9,725 (+52.8%), from €18,412 to €28,136
of which Other amounts receivable: +€23,674
- Trade debts -€9,486
down €9,486 (-42.0%), from €22,591 to €13,105
- Debts after one year -€4,678
down €4,678 (-33.6%), from €13,917 to €9,240
- Profit (loss) carried forward +€3,188
up €3,188 (+1.9%), from €168,387 to €171,575
- Gross operating margin -€39,965
down €39,965 (-21.2%), from €188,269 to €148,304
- Taxes -€15,539
no longer reported in 2025 (was €15,539)
- Staff costs +€11,594
up €11,594 (+15.2%), from €76,392 to €87,986
- Depreciation +€11,148
up €11,148 (+28.2%), from €39,530 to €50,678
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 | €290,178 | €276,541 | -€13,636 | -4.7% |
| Fixed assets | 21/28 | €151,434 | €184,521 | +€33,087 | +21.8% |
| Intangible fixed assets | 21 | €631 | €130 | -€501 | -79.4% |
| Tangible fixed assets | 22/27 | €150,631 | €184,219 | +€33,588 | +22.3% |
| Land and buildings | 22 | €5,178 | €3,772 | -€1,406 | -27.1% |
| Plant, machinery and equipment | 23 | €91,795 | €99,843 | +€8,048 | +8.8% |
| Furniture and vehicles | 24 | €48,284 | €76,709 | +€28,426 | +58.9% |
| Other tangible fixed assets | 26 | €5,375 | €3,894 | -€1,480 | -27.5% |
| Financial fixed assets | 28 | €172 | €172 | = | 0.0% |
| Current assets | 29/58 | €138,744 | €92,020 | -€46,724 | -33.7% |
| Amounts receivable within one year | 40/41 | €18,412 | €28,136 | +€9,725 | +52.8% |
| Trade receivables | 40 | €14,951 | €1,001 | -€13,950 | -93.3% |
| Other amounts receivable | 41 | €3,461 | €27,136 | +€23,674 | +684% |
| Cash at bank and in hand | 54/58 | €120,332 | €61,151 | -€59,180 | -49.2% |
| Deferred charges and accrued income | 490/1 | - | €2,732 | +€2,732 | |
| Total equity and liabilities | 10/49 | €290,178 | €276,541 | -€13,636 | -4.7% |
| Equity | 10/15 | €237,838 | €241,026 | +€3,188 | +1.3% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €50,859 | €50,859 | = | 0.0% |
| Distributable reserves | 133 | €50,859 | €50,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | €168,387 | €171,575 | +€3,188 | +1.9% |
| Amounts payable | 17/49 | €52,339 | €35,515 | -€16,825 | -32.1% |
| Amounts payable after more than one year | 17 | €13,917 | €9,240 | -€4,678 | -33.6% |
| Financial debts | 170/4 | €13,917 | €9,240 | -€4,678 | -33.6% |
| Amounts payable within one year | 42/48 | €38,422 | €26,275 | -€12,147 | -31.6% |
| Current portion of amounts payable after more than one year | 42 | €4,439 | €4,678 | +€239 | +5.4% |
| Trade debts | 44 | €22,591 | €13,105 | -€9,486 | -42.0% |
| Suppliers | 440/4 | €22,591 | €13,105 | -€9,486 | -42.0% |
| Taxes, remuneration and social security | 45 | €10,728 | €7,878 | -€2,850 | -26.6% |
| Taxes | 450/3 | €4,843 | €626 | -€4,217 | -87.1% |
| Remuneration and social security | 454/9 | €5,885 | €7,252 | +€1,367 | +23.2% |
| Other amounts payable | 47/48 | €664 | €615 | -€50 | -7.5% |
| Remuneration, social security and pensions | 62 | €76,392 | €87,986 | +€11,594 | +15.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €39,530 | €50,678 | +€11,148 | +28.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | -€130 | -€130 | |
| Other operating charges | 640/8 | €5,479 | €5,530 | +€51 | +0.9% |
| Non-recurring operating charges | 66A | €162 | €300 | +€138 | +84.9% |
| Gross operating margin | 9900 | €188,269 | €148,304 | -€39,965 | -21.2% |
| Operating profit (loss) | 9901 | €66,706 | €3,939 | -€62,767 | -94.1% |
| Financial income | 75/76B | €369 | €472 | +€103 | +27.8% |
| Recurring financial income | 75 | €369 | €472 | +€103 | +27.8% |
| Financial charges | 65/66B | €1,446 | €1,222 | -€224 | -15.5% |
| Recurring financial charges | 65 | €1,446 | €1,222 | -€224 | -15.5% |
| Profit (loss) for the period before taxes | 9903 | €65,629 | €3,188 | -€62,441 | -95.1% |
| Income taxes | 67/77 | €15,539 | - | -€15,539 | |
| Profit (loss) for the period | 9904 | €50,090 | €3,188 | -€46,902 | -93.6% |
| Profit (loss) for the period to be appropriated | 9905 | €50,090 | €3,188 | -€46,902 | -93.6% |
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.