STOETERIJ TROJAAN: what changed
What changed
STOETERIJ TROJAAN
NACE 01.430, Raising of horses and other equines
filed annual accounts (NBB)
Net result for the year
-€124,126
2024 · -€158,565+€34,439
Equity
€348,876
2024 · €473,003-€124,126
Cash
€178,637
2024 · €51,326+€127,311
Balance sheet total
€3.3m
2024 · €2.6m+€697,934
Largest movements
Assets
- Tangible fixed assets +€538,226
up €538,226 (+25.7%), from €2.1m to €2.6m
of which Land and buildings: +€546,196
- Cash +€127,311
up €127,311 (+248%), from €51,326 to €178,637
mainly Debts after one year (+€580,830) and Other debts (+€285,229)
Equity and liabilities
- Debts after one year +€580,830
up €580,830 (+36.9%), from €1.6m to €2.2m
- Other debts +€285,229
up €285,229 (+90.9%), from €313,908 to €599,138
- Trade debts -€99,208
down €99,208 (-46.1%), from €215,434 to €116,226
- Profit (loss) carried forward -€91,626
down €91,626, from €33,169 to -€58,458
- Current portion of long-term debt +€54,154
up €54,154 (+108%), from €50,129 to €104,283
Income statement
- Gross operating margin +€129,770
up €129,770, from -€85,546 to €44,224
- Depreciation +€46,527
up €46,527 (+91.9%), from €50,625 to €97,152
- Financial charges +€46,044
up €46,044 (+216%), from €21,318 to €67,362
- Financial income -€2,147
down €2,147 (-98.9%), from €2,170 to €23
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
-€158,565
Gross operating margin
+€129,770
Staff costs
-€3
Depreciation
-€46,527
Other operating charges
-€611
Financial income
-€2,147
Financial charges
-€46,044
Result 2025
-€124,126
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
+€127,706
Investment
-€635,379
Financing
+€634,984
Cash 2024
€51,326
From operations (derived)
+€127,706
Net result for the year
-€124,126
Depreciation
+€97,152
Stocks and contracts
-€13,000
Receivables within one year
-€19,396
Trade debts
-€99,208
Tax, wage and social debts
+€1,055
Other debts
+€285,229
Investment (derived)
-€635,379
Investment in fixed assets (net)
-€635,379
Financing
+€634,984
Debts after one year
+€580,830
Current portion of long-term debt
+€54,154
Cash 2025
€178,637
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,630,172 | €3,328,106 | +€697,934 | +26.5% |
| Fixed assets | 21/28 | €2,096,933 | €2,635,160 | +€538,226 | +25.7% |
| Tangible fixed assets | 22/27 | €2,096,884 | €2,635,110 | +€538,226 | +25.7% |
| Land and buildings | 22 | €2,050,344 | €2,596,540 | +€546,196 | +26.6% |
| Plant, machinery and equipment | 23 | €46,540 | €36,160 | -€10,380 | -22.3% |
| Furniture and vehicles | 24 | - | €2,410 | +€2,410 | |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €533,239 | €692,946 | +€159,707 | +30.0% |
| Stocks and contracts in progress | 3 | €437,250 | €450,250 | +€13,000 | +3.0% |
| Stocks | 30/36 | €437,250 | €450,250 | +€13,000 | +3.0% |
| Amounts receivable within one year | 40/41 | €44,663 | €64,059 | +€19,396 | +43.4% |
| Trade receivables | 40 | €10,026 | €51,586 | +€41,560 | +415% |
| Other amounts receivable | 41 | €34,637 | €12,474 | -€22,163 | -64.0% |
| Cash at bank and in hand | 54/58 | €51,326 | €178,637 | +€127,311 | +248% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €2,630,172 | €3,328,106 | +€697,934 | +26.5% |
| Equity | 10/15 | €473,003 | €348,876 | -€124,126 | -26.2% |
| Contributions | 10/11 | €75,000 | €75,000 | = | 0.0% |
| Revaluation surpluses | 12 | €332,334 | €332,334 | = | 0.0% |
| Reserves | 13 | €32,500 | €0 | -€32,500 | -100% |
| Distributable reserves | 133 | €32,500 | €0 | -€32,500 | -100% |
| Profit (loss) carried forward | 14 | €33,169 | -€58,458 | -€91,626 | |
| Amounts payable | 17/49 | €2,157,170 | €2,979,230 | +€822,060 | +38.1% |
| Amounts payable after more than one year | 17 | €1,574,871 | €2,155,701 | +€580,830 | +36.9% |
| Financial debts | 170/4 | €1,574,871 | €2,155,701 | +€580,830 | +36.9% |
| Amounts payable within one year | 42/48 | €582,299 | €823,529 | +€241,230 | +41.4% |
| Current portion of amounts payable after more than one year | 42 | €50,129 | €104,283 | +€54,154 | +108% |
| Trade debts | 44 | €215,434 | €116,226 | -€99,208 | -46.1% |
| Suppliers | 440/4 | €215,434 | €116,226 | -€99,208 | -46.1% |
| Taxes, remuneration and social security | 45 | €2,828 | €3,883 | +€1,055 | +37.3% |
| Taxes | 450/3 | €2,828 | €3,883 | +€1,055 | +37.3% |
| Other amounts payable | 47/48 | €313,908 | €599,138 | +€285,229 | +90.9% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €146 | €149 | +€3 | +2.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €50,625 | €97,152 | +€46,527 | +91.9% |
| Other operating charges | 640/8 | €3,100 | €3,711 | +€611 | +19.7% |
| Gross operating margin | 9900 | -€85,546 | €44,224 | +€129,770 | |
| Operating profit (loss) | 9901 | -€139,417 | -€56,788 | +€82,629 | +59.3% |
| Financial income | 75/76B | €2,170 | €23 | -€2,147 | -98.9% |
| Recurring financial income | 75 | €2,170 | €23 | -€2,147 | -98.9% |
| Financial charges | 65/66B | €21,318 | €67,362 | +€46,044 | +216% |
| Recurring financial charges | 65 | €21,318 | €67,362 | +€46,044 | +216% |
| Profit (loss) for the period before taxes | 9903 | -€158,565 | -€124,126 | +€34,439 | +21.7% |
| Profit (loss) for the period | 9904 | -€158,565 | -€124,126 | +€34,439 | +21.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€158,565 | -€124,126 | +€34,439 | +21.7% |
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 7 November 2026 via checked.be.