T.R.K.: 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.K.
Largest movements
- Tangible fixed assets -€22,192
down €22,192 (-24.6%), from €90,157 to €67,965
of which Furniture and vehicles: -€13,198
- Financial fixed assets +€19,400
up €19,400 (+71.8%), from €27,030 to €46,430
- Receivables within one year -€14,803
down €14,803 (-36.9%), from €40,147 to €25,344
of which Other amounts receivable: -€11,683
- Current investments +€14,400
up €14,400 (+46.2%), from €31,200 to €45,600
- Debts after one year -€18,156
down €18,156 (-65.5%), from €27,720 to €9,564
- Reserves +€8,800
up €8,800 (+7.6%), from €115,900 to €124,700
- Other debts +€4,835
up €4,835 (+26.6%), from €18,165 to €23,000
- Profit (loss) carried forward -€3,653
down €3,653 (-97.7%), from €3,737 to €85
- Gross operating margin -€7,466
down €7,466 (-9.9%), from €75,710 to €68,244
- Turnover -€3,532
down €3,532 (-2.0%), from €175,713 to €172,181
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 | €207,127 | €201,968 | -€5,159 | -2.5% |
| Fixed assets | 21/28 | €117,187 | €114,395 | -€2,792 | -2.4% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €90,157 | €67,965 | -€22,192 | -24.6% |
| Plant, machinery and equipment | 23 | €40,295 | €31,301 | -€8,994 | -22.3% |
| Furniture and vehicles | 24 | €49,862 | €36,664 | -€13,198 | -26.5% |
| Financial fixed assets | 28 | €27,030 | €46,430 | +€19,400 | +71.8% |
| Current assets | 29/58 | €89,940 | €87,573 | -€2,367 | -2.6% |
| Stocks and contracts in progress | 3 | €1,960 | €975 | -€985 | -50.3% |
| Stocks | 30/36 | €1,960 | €975 | -€985 | -50.3% |
| Amounts receivable within one year | 40/41 | €40,147 | €25,344 | -€14,803 | -36.9% |
| Trade receivables | 40 | €14,142 | €11,022 | -€3,120 | -22.1% |
| Other amounts receivable | 41 | €26,005 | €14,322 | -€11,683 | -44.9% |
| Current investments | 50/53 | €31,200 | €45,600 | +€14,400 | +46.2% |
| Cash at bank and in hand | 54/58 | €13,510 | €13,309 | -€201 | -1.5% |
| Deferred charges and accrued income | 490/1 | €3,124 | €2,346 | -€778 | -24.9% |
| Total equity and liabilities | 10/49 | €207,127 | €201,968 | -€5,159 | -2.5% |
| Equity | 10/15 | €138,637 | €143,785 | +€5,148 | +3.7% |
| Contributions | 10/11 | €19,000 | €19,000 | = | 0.0% |
| Capital | 10 | - | €9,000 | +€9,000 | |
| Issued capital | 100 | - | €9,000 | +€9,000 | |
| Contributions outside capital | 11 | - | €10,000 | +€10,000 | |
| Share premium | 1100/10 | - | €10,000 | +€10,000 | |
| Reserves | 13 | €115,900 | €124,700 | +€8,800 | +7.6% |
| Distributable reserves | 133 | €115,900 | €124,700 | +€8,800 | +7.6% |
| Profit (loss) carried forward | 14 | €3,737 | €85 | -€3,653 | -97.7% |
| Amounts payable | 17/49 | €68,490 | €58,183 | -€10,307 | -15.0% |
| Amounts payable after more than one year | 17 | €27,720 | €9,564 | -€18,156 | -65.5% |
| Financial debts | 170/4 | €27,720 | €9,564 | -€18,156 | -65.5% |
| Amounts payable within one year | 42/48 | €40,770 | €48,620 | +€7,849 | +19.3% |
| Current portion of amounts payable after more than one year | 42 | €17,769 | €18,156 | +€388 | +2.2% |
| Financial debts | 43 | €1,026 | €847 | -€180 | -17.5% |
| Credit institutions | 430/8 | €1,026 | €847 | -€180 | -17.5% |
| Trade debts | 44 | €1,156 | €2,713 | +€1,557 | +135% |
| Suppliers | 440/4 | €1,156 | €2,713 | +€1,557 | +135% |
| Taxes, remuneration and social security | 45 | €2,654 | €3,903 | +€1,250 | +47.1% |
| Taxes | 450/3 | €2,654 | €3,903 | +€1,250 | +47.1% |
| Other amounts payable | 47/48 | €18,165 | €23,000 | +€4,835 | +26.6% |
| Turnover | 70 | €175,713 | €172,181 | -€3,532 | -2.0% |
| Non-recurring operating income | 76A | €3,500 | - | -€3,500 | |
| Goods, raw materials, services and sundry goods | 60/61 | €106,131 | €107,213 | +€1,082 | +1.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,463 | €28,173 | +€710 | +2.6% |
| Gross operating margin | 9900 | €75,710 | €68,244 | -€7,466 | -9.9% |
| Operating profit (loss) | 9901 | €48,247 | €40,071 | -€8,177 | -16.9% |
| Financial income | 75/76B | €152 | €138 | -€14 | -9.3% |
| Recurring financial income | 75 | €152 | €138 | -€14 | -9.3% |
| Financial charges | 65/66B | €2,208 | €1,345 | -€863 | -39.1% |
| Recurring financial charges | 65 | €2,208 | €1,345 | -€863 | -39.1% |
| Profit (loss) for the period before taxes | 9903 | €46,192 | €38,864 | -€7,328 | -15.9% |
| Income taxes | 67/77 | €12,239 | €10,716 | -€1,523 | -12.4% |
| Profit (loss) for the period | 9904 | €33,952 | €28,148 | -€5,805 | -17.1% |
| Profit (loss) for the period to be appropriated | 9905 | €33,952 | €28,148 | -€5,805 | -17.1% |
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 26 October 2026 via checked.be.