T.R.S.: 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.S.
Largest movements
- Tangible fixed assets -€17,550
down €17,550 (-19.1%), from €91,661 to €74,111
of which Furniture and vehicles: -€16,641
- Cash -€12,342
down €12,342 (-66.8%), from €18,466 to €6,124
mainly Trade debts (-€29,152) and Other debts (-€25,740)
- Receivables within one year -€9,058
down €9,058 (-82.3%), from €11,008 to €1,950
- Deferred charges and accrued income +€1,751
new in 2025: €1,751
- Trade debts -€29,152
down €29,152 (-93.5%), from €31,193 to €2,041
- Other debts -€25,740
down €25,740 (-8.4%), from €304,663 to €278,923
- Profit (loss) carried forward +€22,708
up €22,708 (+10.1%), from -€225,488 to -€202,780
- Contributions +€12,085
up €12,085 (+179%), from €6,755 to €18,840
- Tax, wage and social debts -€10,638
down €10,638 (-73.2%), from €14,523 to €3,885
- Gross operating margin -€50,900
down €50,900 (-51.1%), from €99,645 to €48,745
- Depreciation +€17,897
up €17,897 (+1,205%), from €1,485 to €19,383
- Other operating charges +€2,093
up €2,093 (+544%), from €384 to €2,477
- Financial charges +€1,596
up €1,596 (+116%), from €1,373 to €2,969
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 | €162,224 | €125,025 | -€37,199 | -22.9% |
| Fixed assets | 21/28 | €132,750 | €115,200 | -€17,550 | -13.2% |
| Tangible fixed assets | 22/27 | €91,661 | €74,111 | -€17,550 | -19.1% |
| Plant, machinery and equipment | 23 | €1,497 | €588 | -€909 | -60.7% |
| Furniture and vehicles | 24 | €90,164 | €73,523 | -€16,641 | -18.5% |
| Financial fixed assets | 28 | €41,089 | €41,089 | = | 0.0% |
| Current assets | 29/58 | €29,474 | €9,825 | -€19,649 | -66.7% |
| Amounts receivable within one year | 40/41 | €11,008 | €1,950 | -€9,058 | -82.3% |
| Trade receivables | 40 | €11,008 | €1,950 | -€9,058 | -82.3% |
| Cash at bank and in hand | 54/58 | €18,466 | €6,124 | -€12,342 | -66.8% |
| Deferred charges and accrued income | 490/1 | - | €1,751 | +€1,751 | |
| Total equity and liabilities | 10/49 | €162,224 | €125,025 | -€37,199 | -22.9% |
| Equity | 10/15 | -€218,733 | -€183,940 | +€34,793 | +15.9% |
| Contributions | 10/11 | €6,755 | €18,840 | +€12,085 | +179% |
| Profit (loss) carried forward | 14 | -€225,488 | -€202,780 | +€22,708 | +10.1% |
| Amounts payable | 17/49 | €380,956 | €308,965 | -€71,991 | -18.9% |
| Amounts payable after more than one year | 17 | €22,882 | €15,515 | -€7,367 | -32.2% |
| Financial debts | 170/4 | €22,882 | €15,515 | -€7,367 | -32.2% |
| Amounts payable within one year | 42/48 | €358,075 | €293,451 | -€64,624 | -18.0% |
| Current portion of amounts payable after more than one year | 42 | €7,118 | €7,367 | +€249 | +3.5% |
| Financial debts | 43 | €577 | €1,235 | +€657 | +114% |
| Credit institutions | 430/8 | €577 | €1,235 | +€657 | +114% |
| Trade debts | 44 | €31,193 | €2,041 | -€29,152 | -93.5% |
| Suppliers | 440/4 | €31,193 | €2,041 | -€29,152 | -93.5% |
| Taxes, remuneration and social security | 45 | €14,523 | €3,885 | -€10,638 | -73.2% |
| Taxes | 450/3 | €14,523 | €3,885 | -€10,638 | -73.2% |
| Other amounts payable | 47/48 | €304,663 | €278,923 | -€25,740 | -8.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,485 | €19,383 | +€17,897 | +1,205% |
| Other operating charges | 640/8 | €384 | €2,477 | +€2,093 | +544% |
| Gross operating margin | 9900 | €99,645 | €48,745 | -€50,900 | -51.1% |
| Operating profit (loss) | 9901 | €97,775 | €26,885 | -€70,890 | -72.5% |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €1,373 | €2,969 | +€1,596 | +116% |
| Recurring financial charges | 65 | €1,373 | €2,969 | +€1,596 | +116% |
| Profit (loss) for the period before taxes | 9903 | €96,402 | €23,917 | -€72,484 | -75.2% |
| Income taxes | 67/77 | €601 | €1,209 | +€608 | +101% |
| Profit (loss) for the period | 9904 | €95,801 | €22,708 | -€73,093 | -76.3% |
| Profit (loss) for the period to be appropriated | 9905 | €95,801 | €22,708 | -€73,093 | -76.3% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.