T-Rex Road Modifications: 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 Road Modifications
Largest movements
- Receivables within one year -€253,844
down €253,844 (-66.0%), from €384,821 to €130,976
of which Trade receivables: -€271,825
- Cash +€37,325
up €37,325 (+6.5%), from €575,565 to €612,890
mainly Receivables within one year (+€253,844) and Net result for the year (+€230,429)
- Tangible fixed assets +€33,441
up €33,441 (+65.0%), from €51,443 to €84,884
of which Leasing and similar rights: +€48,992
- Reserves -€181,335
down €181,335 (-25.7%), from €705,897 to €524,562
- Tax, wage and social debts -€129,982
down €129,982 (-72.2%), from €180,111 to €50,129
- Other debts +€100,000
new in 2025: €100,000
- Trade debts -€43,339
down €43,339 (-41.4%), from €104,794 to €61,454
- Current portion of long-term debt +€35,471
up €35,471 (+346%), from €10,264 to €45,735
- Gross operating margin +€93,530
up €93,530 (+37.4%), from €249,756 to €343,287
- Taxes +€22,906
up €22,906 (+44.9%), from €50,980 to €73,886
- Depreciation +€6,990
up €6,990 (+25.6%), from €27,254 to €34,244
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 | €1,020,347 | €834,837 | -€185,510 | -18.2% |
| Fixed assets | 21/28 | €52,939 | €86,005 | +€33,067 | +62.5% |
| Intangible fixed assets | 21 | €1,496 | €1,121 | -€374 | -25.0% |
| Tangible fixed assets | 22/27 | €51,443 | €84,884 | +€33,441 | +65.0% |
| Plant, machinery and equipment | 23 | €1,091 | €0 | -€1,091 | -100% |
| Furniture and vehicles | 24 | €21,183 | €6,723 | -€14,460 | -68.3% |
| Leasing and similar rights | 25 | €29,169 | €78,162 | +€48,992 | +168% |
| Current assets | 29/58 | €967,408 | €748,832 | -€218,576 | -22.6% |
| Amounts receivable within one year | 40/41 | €384,821 | €130,976 | -€253,844 | -66.0% |
| Trade receivables | 40 | €384,214 | €112,389 | -€271,825 | -70.7% |
| Other amounts receivable | 41 | €607 | €18,587 | +€17,980 | +2,963% |
| Cash at bank and in hand | 54/58 | €575,565 | €612,890 | +€37,325 | +6.5% |
| Deferred charges and accrued income | 490/1 | €7,022 | €4,965 | -€2,057 | -29.3% |
| Total equity and liabilities | 10/49 | €1,020,347 | €834,837 | -€185,510 | -18.2% |
| Equity | 10/15 | €708,897 | €527,562 | -€181,335 | -25.6% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €705,897 | €524,562 | -€181,335 | -25.7% |
| Distributable reserves | 133 | €705,897 | €524,562 | -€181,335 | -25.7% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €311,450 | €307,276 | -€4,174 | -1.3% |
| Amounts payable after more than one year | 17 | €16,282 | €49,958 | +€33,676 | +207% |
| Financial debts | 170/4 | €16,282 | €49,958 | +€33,676 | +207% |
| Amounts payable within one year | 42/48 | €295,168 | €257,318 | -€37,850 | -12.8% |
| Current portion of amounts payable after more than one year | 42 | €10,264 | €45,735 | +€35,471 | +346% |
| Trade debts | 44 | €104,794 | €61,454 | -€43,339 | -41.4% |
| Suppliers | 440/4 | €104,794 | €61,454 | -€43,339 | -41.4% |
| Taxes, remuneration and social security | 45 | €180,111 | €50,129 | -€129,982 | -72.2% |
| Taxes | 450/3 | €180,111 | €50,129 | -€129,982 | -72.2% |
| Other amounts payable | 47/48 | - | €100,000 | +€100,000 | |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,254 | €34,244 | +€6,990 | +25.6% |
| Other operating charges | 640/8 | €2,743 | €3,058 | +€315 | +11.5% |
| Non-recurring operating charges | 66A | €2,976 | €0 | -€2,976 | -100% |
| Gross operating margin | 9900 | €249,756 | €343,287 | +€93,530 | +37.4% |
| Operating profit (loss) | 9901 | €216,783 | €305,985 | +€89,202 | +41.1% |
| Financial income | 75/76B | €3,975 | €4,224 | +€249 | +6.3% |
| Recurring financial income | 75 | €3,975 | €4,224 | +€249 | +6.3% |
| Financial charges | 65/66B | €4,761 | €5,894 | +€1,133 | +23.8% |
| Recurring financial charges | 65 | €4,761 | €5,894 | +€1,133 | +23.8% |
| Profit (loss) for the period before taxes | 9903 | €215,998 | €304,315 | +€88,317 | +40.9% |
| Income taxes | 67/77 | €50,980 | €73,886 | +€22,906 | +44.9% |
| Profit (loss) for the period | 9904 | €165,018 | €230,429 | +€65,411 | +39.6% |
| Profit (loss) for the period to be appropriated | 9905 | €165,018 | €230,429 | +€65,411 | +39.6% |
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.