LES TROIS TREFLES: 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.
LES TROIS TREFLES
Largest movements
- Tangible fixed assets -€27,851
down €27,851 (-5.7%), from €487,921 to €460,071
- Cash +€22,519
up €22,519 (+227%), from €9,927 to €32,446
mainly Depreciation (+€65,201) and Net result for the year (+€34,143)
- Stocks and contracts -€18,459
down €18,459 (-6.3%), from €294,736 to €276,278
- Debts after one year -€56,476
down €56,476 (-11.3%), from €498,074 to €441,598
- Profit (loss) carried forward +€34,143
up €34,143 (+52.4%), from -€65,117 to -€30,975
- Current portion of long-term debt +€13,355
up €13,355 (+16.6%), from €80,471 to €93,827
- Depreciation -€29,249
down €29,249 (-31.0%), from €94,451 to €65,201
- Gross operating margin +€22,929
up €22,929 (+18.6%), from €123,524 to €146,453
- Other operating charges +€11,749
up €11,749 (+445%), from €2,640 to €14,389
- Taxes +€7,029
up €7,029 (+5,182%), from €136 to €7,165
- Financial charges -€1,767
down €1,767 (-7.2%), from €24,418 to €22,651
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 | €931,163 | €917,421 | -€13,742 | -1.5% |
| Fixed assets | 21/28 | €488,004 | €460,154 | -€27,851 | -5.7% |
| Tangible fixed assets | 22/27 | €487,921 | €460,071 | -€27,851 | -5.7% |
| Land and buildings | 22 | €369,818 | €357,564 | -€12,255 | -3.3% |
| Plant, machinery and equipment | 23 | €62,977 | €65,492 | +€2,515 | +4.0% |
| Furniture and vehicles | 24 | €42,090 | €31,902 | -€10,188 | -24.2% |
| Leasing and similar rights | 25 | €13,036 | €5,113 | -€7,923 | -60.8% |
| Financial fixed assets | 28 | €83 | €83 | = | 0.0% |
| Current assets | 29/58 | €443,159 | €457,268 | +€14,109 | +3.2% |
| Stocks and contracts in progress | 3 | €294,736 | €276,278 | -€18,459 | -6.3% |
| Stocks | 30/36 | €294,736 | €276,278 | -€18,459 | -6.3% |
| Amounts receivable within one year | 40/41 | €49,820 | €50,221 | +€401 | +0.8% |
| Trade receivables | 40 | €44,062 | €43,429 | -€634 | -1.4% |
| Other amounts receivable | 41 | €5,758 | €6,792 | +€1,034 | +18.0% |
| Current investments | 50/53 | €82,243 | €88,453 | +€6,210 | +7.6% |
| Cash at bank and in hand | 54/58 | €9,927 | €32,446 | +€22,519 | +227% |
| Deferred charges and accrued income | 490/1 | €6,432 | €9,870 | +€3,438 | +53.5% |
| Total equity and liabilities | 10/49 | €931,163 | €917,421 | -€13,742 | -1.5% |
| Equity | 10/15 | -€4,013 | €27,309 | +€31,323 | |
| Contributions | 10/11 | €27,265 | €27,265 | = | 0.0% |
| Reserves | 13 | €26,629 | €26,629 | = | 0.0% |
| Tax-exempt reserves | 132 | €26,629 | €26,629 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€65,117 | -€30,975 | +€34,143 | +52.4% |
| Investment grants | 15 | €7,210 | €4,390 | -€2,820 | -39.1% |
| Amounts payable | 17/49 | €935,176 | €890,112 | -€45,064 | -4.8% |
| Amounts payable after more than one year | 17 | €498,074 | €441,598 | -€56,476 | -11.3% |
| Financial debts | 170/4 | €498,074 | €441,598 | -€56,476 | -11.3% |
| Amounts payable within one year | 42/48 | €437,103 | €448,514 | +€11,412 | +2.6% |
| Current portion of amounts payable after more than one year | 42 | €80,471 | €93,827 | +€13,355 | +16.6% |
| Trade debts | 44 | €186,991 | €182,278 | -€4,713 | -2.5% |
| Suppliers | 440/4 | €186,991 | €182,278 | -€4,713 | -2.5% |
| Taxes, remuneration and social security | 45 | €5,647 | €13,035 | +€7,388 | +131% |
| Taxes | 450/3 | €4,946 | €12,669 | +€7,723 | +156% |
| Remuneration and social security | 454/9 | €701 | €366 | -€335 | -47.8% |
| Other amounts payable | 47/48 | €163,994 | €159,375 | -€4,619 | -2.8% |
| Remuneration, social security and pensions | 62 | €5,376 | €5,725 | +€348 | +6.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €94,451 | €65,201 | -€29,249 | -31.0% |
| Other operating charges | 640/8 | €2,640 | €14,389 | +€11,749 | +445% |
| Gross operating margin | 9900 | €123,524 | €146,453 | +€22,929 | +18.6% |
| Operating profit (loss) | 9901 | €21,057 | €61,138 | +€40,081 | +190% |
| Financial income | 75/76B | €3,077 | €2,820 | -€257 | -8.3% |
| Recurring financial income | 75 | €3,077 | €2,820 | -€257 | -8.3% |
| Financial charges | 65/66B | €24,418 | €22,651 | -€1,767 | -7.2% |
| Recurring financial charges | 65 | €24,418 | €22,651 | -€1,767 | -7.2% |
| Profit (loss) for the period before taxes | 9903 | -€285 | €41,307 | +€41,592 | |
| Income taxes | 67/77 | €136 | €7,165 | +€7,029 | +5,182% |
| Profit (loss) for the period | 9904 | -€420 | €34,143 | +€34,563 | |
| Profit (loss) for the period to be appropriated | 9905 | -€420 | €34,143 | +€34,563 |
Source: filed annual accounts (NBB), financial years ended 30 April 2024 and 30 April 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.