'T C'TRUM: 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.
'T C'TRUM
Largest movements
- Receivables within one year +€103,658
up €103,658 (+179%), from €57,996 to €161,654
of which Trade receivables: +€104,825
- Tangible fixed assets -€11,826
down €11,826 (-14.5%), from €81,293 to €69,467
of which Plant, machinery and equipment: -€6,759
- Deferred charges and accrued income +€7,126
up €7,126 (+2,865%), from €249 to €7,375
- Stocks and contracts +€4,648
up €4,648 (+123%), from €3,777 to €8,424
- Trade debts +€78,939
up €78,939 (+57.0%), from €138,519 to €217,458
- Other debts +€44,506
new in 2025: €44,506
- Current portion of long-term debt -€8,772
down €8,772 (-27.5%), from €31,886 to €23,114
- Profit (loss) carried forward -€6,623
down €6,623 (-8.9%), from -€74,135 to -€80,758
- Debts after one year -€3,614
down €3,614 (-56.2%), from €6,431 to €2,817
- Gross operating margin +€122,092
up €122,092, from -€94,333 to €27,759
- Other operating charges +€14,273
up €14,273 (+373%), from €3,822 to €18,095
- Depreciation -€1,228
down €1,228 (-8.1%), from €15,094 to €13,866
- Financial charges -€1,201
down €1,201 (-32.0%), from €3,750 to €2,549
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 | €145,656 | €249,374 | +€103,718 | +71.2% |
| Fixed assets | 21/28 | €81,293 | €69,467 | -€11,826 | -14.5% |
| Tangible fixed assets | 22/27 | €81,293 | €69,467 | -€11,826 | -14.5% |
| Plant, machinery and equipment | 23 | €68,726 | €61,967 | -€6,759 | -9.8% |
| Furniture and vehicles | 24 | €567 | €0 | -€567 | -100.0% |
| Leasing and similar rights | 25 | €12,000 | €7,500 | -€4,500 | -37.5% |
| Current assets | 29/58 | €64,362 | €179,907 | +€115,544 | +180% |
| Stocks and contracts in progress | 3 | €3,777 | €8,424 | +€4,648 | +123% |
| Stocks | 30/36 | €3,777 | €8,424 | +€4,648 | +123% |
| Amounts receivable within one year | 40/41 | €57,996 | €161,654 | +€103,658 | +179% |
| Trade receivables | 40 | €46,096 | €150,921 | +€104,825 | +227% |
| Other amounts receivable | 41 | €11,900 | €10,733 | -€1,167 | -9.8% |
| Cash at bank and in hand | 54/58 | €2,341 | €2,453 | +€112 | +4.8% |
| Deferred charges and accrued income | 490/1 | €249 | €7,375 | +€7,126 | +2,865% |
| Total equity and liabilities | 10/49 | €145,656 | €249,374 | +€103,718 | +71.2% |
| Equity | 10/15 | -€38,135 | -€44,758 | -€6,623 | -17.4% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €11,000 | €11,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €8,500 | €8,500 | = | 0.0% |
| Distributable reserves | 133 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€74,135 | -€80,758 | -€6,623 | -8.9% |
| Amounts payable | 17/49 | €183,790 | €294,132 | +€110,341 | +60.0% |
| Amounts payable after more than one year | 17 | €6,431 | €2,817 | -€3,614 | -56.2% |
| Financial debts | 170/4 | €6,431 | €2,817 | -€3,614 | -56.2% |
| Amounts payable within one year | 42/48 | €177,359 | €291,314 | +€113,955 | +64.3% |
| Current portion of amounts payable after more than one year | 42 | €31,886 | €23,114 | -€8,772 | -27.5% |
| Financial debts | 43 | €4,179 | €4,736 | +€557 | +13.3% |
| Credit institutions | 430/8 | €4,179 | €4,736 | +€557 | +13.3% |
| Trade debts | 44 | €138,519 | €217,458 | +€78,939 | +57.0% |
| Suppliers | 440/4 | €138,519 | €217,458 | +€78,939 | +57.0% |
| Taxes, remuneration and social security | 45 | €2,775 | €1,501 | -€1,274 | -45.9% |
| Taxes | 450/3 | €2,775 | €1,501 | -€1,274 | -45.9% |
| Other amounts payable | 47/48 | - | €44,506 | +€44,506 | |
| Remuneration, social security and pensions | 62 | €539 | €33 | -€506 | -93.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,094 | €13,866 | -€1,228 | -8.1% |
| Other operating charges | 640/8 | €3,822 | €18,095 | +€14,273 | +373% |
| Gross operating margin | 9900 | -€94,333 | €27,759 | +€122,092 | |
| Operating profit (loss) | 9901 | -€113,789 | -€4,236 | +€109,553 | +96.3% |
| Financial income | 75/76B | €43 | €162 | +€119 | +276% |
| Recurring financial income | 75 | €43 | €162 | +€119 | +276% |
| Financial charges | 65/66B | €3,750 | €2,549 | -€1,201 | -32.0% |
| Recurring financial charges | 65 | €3,750 | €2,549 | -€1,201 | -32.0% |
| Profit (loss) for the period before taxes | 9903 | -€117,496 | -€6,623 | +€110,873 | +94.4% |
| Income taxes | 67/77 | €0 | €0 | = | |
| Profit (loss) for the period | 9904 | -€117,496 | -€6,623 | +€110,873 | +94.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€117,496 | -€6,623 | +€110,873 | +94.4% |
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 25 October 2026 via checked.be.