T&R: 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&R
Largest movements
- Tangible fixed assets +€38,719
up €38,719 (+217%), from €17,813 to €56,531
of which Furniture and vehicles: +€37,602
- Cash +€30,989
up €30,989 (+109%), from €28,456 to €59,445
mainly Net result for the year (+€35,353) and Current investments (+€25,000)
- Current investments -€25,000
down €25,000 (-26.6%), from €93,936 to €68,936
- Receivables within one year -€7,717
down €7,717 (-70.6%), from €10,936 to €3,218
of which Trade receivables: -€8,225
- Deferred charges and accrued income -€1,929
down €1,929 (-62.5%), from €3,088 to €1,159
- Reserves +€35,353
up €35,353 (+25.9%), from €136,576 to €171,929
- Trade debts -€4,824
down €4,824 (-90.5%), from €5,329 to €505
- Tax, wage and social debts +€3,879
up €3,879 (+555%), from €698 to €4,578
of which Taxes: +€3,279
- Gross operating margin +€47,911
up €47,911 (+236%), from €20,285 to €68,196
- Taxes +€12,376
up €12,376 (+229%), from €5,395 to €17,770
- Depreciation +€10,239
up €10,239 (+211%), from €4,853 to €15,092
- Financial charges -€1,366
down €1,366 (-95.1%), from €1,437 to €71
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 | €154,243 | €189,305 | +€35,061 | +22.7% |
| Fixed assets | 21/28 | €17,828 | €56,546 | +€38,719 | +217% |
| Tangible fixed assets | 22/27 | €17,813 | €56,531 | +€38,719 | +217% |
| Plant, machinery and equipment | 23 | - | €1,116 | +€1,116 | |
| Furniture and vehicles | 24 | €17,813 | €55,415 | +€37,602 | +211% |
| Financial fixed assets | 28 | €15 | €15 | = | 0.0% |
| Current assets | 29/58 | €136,416 | €132,758 | -€3,657 | -2.7% |
| Amounts receivable within one year | 40/41 | €10,936 | €3,218 | -€7,717 | -70.6% |
| Trade receivables | 40 | €10,576 | €2,351 | -€8,225 | -77.8% |
| Other amounts receivable | 41 | €360 | €867 | +€508 | +141% |
| Current investments | 50/53 | €93,936 | €68,936 | -€25,000 | -26.6% |
| Cash at bank and in hand | 54/58 | €28,456 | €59,445 | +€30,989 | +109% |
| Deferred charges and accrued income | 490/1 | €3,088 | €1,159 | -€1,929 | -62.5% |
| Total equity and liabilities | 10/49 | €154,243 | €189,305 | +€35,061 | +22.7% |
| Equity | 10/15 | €142,776 | €178,129 | +€35,353 | +24.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €136,576 | €171,929 | +€35,353 | +25.9% |
| Distributable reserves | 133 | €136,576 | €171,929 | +€35,353 | +25.9% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €11,467 | €11,176 | -€292 | -2.5% |
| Amounts payable within one year | 42/48 | €11,467 | €11,176 | -€292 | -2.5% |
| Trade debts | 44 | €5,329 | €505 | -€4,824 | -90.5% |
| Suppliers | 440/4 | €5,329 | €505 | -€4,824 | -90.5% |
| Taxes, remuneration and social security | 45 | €698 | €4,578 | +€3,879 | +555% |
| Taxes | 450/3 | €698 | €3,978 | +€3,279 | +470% |
| Remuneration and social security | 454/9 | - | €600 | +€600 | |
| Other amounts payable | 47/48 | €5,440 | €6,093 | +€653 | +12.0% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,853 | €15,092 | +€10,239 | +211% |
| Other operating charges | 640/8 | €1,170 | €887 | -€284 | -24.2% |
| Non-recurring operating charges | 66A | €910 | - | -€910 | |
| Gross operating margin | 9900 | €20,285 | €68,196 | +€47,911 | +236% |
| Operating profit (loss) | 9901 | €13,352 | €52,218 | +€38,866 | +291% |
| Financial income | 75/76B | €903 | €976 | +€73 | +8.1% |
| Recurring financial income | 75 | €903 | €976 | +€73 | +8.1% |
| Financial charges | 65/66B | €1,437 | €71 | -€1,366 | -95.1% |
| Recurring financial charges | 65 | €1,437 | €71 | -€1,366 | -95.1% |
| Profit (loss) for the period before taxes | 9903 | €12,819 | €53,123 | +€40,305 | +314% |
| Income taxes | 67/77 | €5,395 | €17,770 | +€12,376 | +229% |
| Profit (loss) for the period | 9904 | €7,424 | €35,353 | +€27,929 | +376% |
| Profit (loss) for the period to be appropriated | 9905 | €7,424 | €35,353 | +€27,929 | +376% |
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 13 October 2026 via checked.be.