T-Rex: 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-Rex
Largest movements
- Receivables within one year +€13,181
up €13,181 (+56.8%), from €23,202 to €36,383
of which Trade receivables: +€22,098
- Cash +€7,294
up €7,294 (+67.0%), from €10,893 to €18,186
mainly Net result for the year (+€23,659) and Tax, wage and social debts (+€8,598)
- Reserves +€23,659
up €23,659 (+28.5%), from €82,999 to €106,659
- Tax, wage and social debts +€8,598
up €8,598 (+158%), from €5,451 to €14,049
- Trade debts -€7,851
down €7,851 (-51.5%), from €15,250 to €7,399
- Accrued charges and deferred income +€7,019
new in 2025: €7,019
- Debts after one year -€6,781
down €6,781 (-28.0%), from €24,234 to €17,453
- Gross operating margin +€10,428
up €10,428 (+24.0%), from €43,395 to €53,823
- Taxes +€6,141
up €6,141 (+51.5%), from €11,930 to €18,071
- Financial charges -€3,016
down €3,016 (-36.1%), from €8,349 to €5,333
- Depreciation -€863
down €863 (-12.8%), from €6,736 to €5,874
- Other operating charges -€826
down €826 (-48.2%), from €1,712 to €886
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 | €174,031 | €195,118 | +€21,087 | +12.1% |
| Fixed assets | 21/28 | €126,970 | €127,185 | +€215 | +0.2% |
| Tangible fixed assets | 22/27 | €17,620 | €17,835 | +€215 | +1.2% |
| Land and buildings | 22 | €4,291 | €5,458 | +€1,166 | +27.2% |
| Plant, machinery and equipment | 23 | - | €3,163 | +€3,163 | |
| Furniture and vehicles | 24 | €13,329 | €9,214 | -€4,115 | -30.9% |
| Financial fixed assets | 28 | €109,350 | €109,350 | = | 0.0% |
| Current assets | 29/58 | €47,061 | €67,933 | +€20,872 | +44.4% |
| Amounts receivable within one year | 40/41 | €23,202 | €36,383 | +€13,181 | +56.8% |
| Trade receivables | 40 | €10,215 | €32,313 | +€22,098 | +216% |
| Other amounts receivable | 41 | €12,987 | €4,070 | -€8,917 | -68.7% |
| Cash at bank and in hand | 54/58 | €10,893 | €18,186 | +€7,294 | +67.0% |
| Deferred charges and accrued income | 490/1 | €12,967 | €13,363 | +€396 | +3.1% |
| Total equity and liabilities | 10/49 | €174,031 | €195,118 | +€21,087 | +12.1% |
| Equity | 10/15 | €97,999 | €121,659 | +€23,659 | +24.1% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Reserves | 13 | €82,999 | €106,659 | +€23,659 | +28.5% |
| Distributable reserves | 133 | €82,999 | €106,659 | +€23,659 | +28.5% |
| Amounts payable | 17/49 | €76,032 | €73,459 | -€2,573 | -3.4% |
| Amounts payable after more than one year | 17 | €24,234 | €17,453 | -€6,781 | -28.0% |
| Financial debts | 170/4 | €24,234 | €17,453 | -€6,781 | -28.0% |
| Amounts payable within one year | 42/48 | €51,798 | €48,988 | -€2,811 | -5.4% |
| Current portion of amounts payable after more than one year | 42 | €10,303 | €4,530 | -€5,773 | -56.0% |
| Financial debts | 43 | €0 | €2,147 | +€2,147 | |
| Credit institutions | 430/8 | €0 | €2,147 | +€2,147 | |
| Trade debts | 44 | €15,250 | €7,399 | -€7,851 | -51.5% |
| Suppliers | 440/4 | €15,250 | €7,399 | -€7,851 | -51.5% |
| Taxes, remuneration and social security | 45 | €5,451 | €14,049 | +€8,598 | +158% |
| Taxes | 450/3 | €5,451 | €14,049 | +€8,598 | +158% |
| Other amounts payable | 47/48 | €20,794 | €20,863 | +€69 | +0.3% |
| Accrued charges and deferred income | 492/3 | - | €7,019 | +€7,019 | |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €264 | €0 | -€264 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,736 | €5,874 | -€863 | -12.8% |
| Other operating charges | 640/8 | €1,712 | €886 | -€826 | -48.2% |
| Non-recurring operating charges | 66A | €765 | €0 | -€765 | -100% |
| Gross operating margin | 9900 | €43,395 | €53,823 | +€10,428 | +24.0% |
| Operating profit (loss) | 9901 | €33,917 | €47,063 | +€13,146 | +38.8% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €8,349 | €5,333 | -€3,016 | -36.1% |
| Recurring financial charges | 65 | €8,349 | €5,333 | -€3,016 | -36.1% |
| Profit (loss) for the period before taxes | 9903 | €25,568 | €41,730 | +€16,162 | +63.2% |
| Income taxes | 67/77 | €11,930 | €18,071 | +€6,141 | +51.5% |
| Profit (loss) for the period | 9904 | €13,638 | €23,659 | +€10,021 | +73.5% |
| Profit (loss) for the period to be appropriated | 9905 | €13,638 | €23,659 | +€10,021 | +73.5% |
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 22 October 2026 via checked.be.