T-Tree: 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-Tree
Largest movements
- Cash +€11,841
new in 2025: €11,841
mainly Net result for the year (+€50,305) and Trade debts (+€10,654)
- Tangible fixed assets +€3,943
up €3,943 (+745.1%), from €529 to €4,472
- Receivables within one year -€1,217
down €1,217 (-3.2%), from €37,624 to €36,408
of which Trade receivables: -€10,222
- Deferred charges and accrued income +€661
new in 2025: €661
- Trade debts +€10,654
up €10,654 (+371.2%), from €2,870 to €13,524
- Tax, wage and social debts +€7,746
up €7,746 (+31.4%), from €24,707 to €32,453
- Short-term financial debts -€3,476
no longer reported in 2025 (was €3,476)
- Gross operating margin +€19,479
up €19,479 (+42.7%), from €45,670 to €65,149
- Taxes +€4,313
up €4,313 (+44.6%), from €9,665 to €13,978
- Depreciation -€755
down €755 (-61.0%), from €1,237 to €482
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.
Cash bridge derived
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 | €39,153 | €54,382 | +€15,228 | +38.9% |
| Fixed assets | 21/28 | €529 | €4,472 | +€3,943 | +745.1% |
| Tangible fixed assets | 22/27 | €529 | €4,472 | +€3,943 | +745.1% |
| Furniture and vehicles | 24 | €529 | €4,472 | +€3,943 | +745.1% |
| Current assets | 29/58 | €38,624 | €49,909 | +€11,285 | +29.2% |
| Amounts receivable within one year | 40/41 | €37,624 | €36,408 | -€1,217 | -3.2% |
| Trade receivables | 40 | €25,211 | €14,989 | -€10,222 | -40.5% |
| Other amounts receivable | 41 | €12,413 | €21,418 | +€9,006 | +72.6% |
| Current investments | 50/53 | €1,000 | €1,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | - | €11,841 | +€11,841 | |
| Deferred charges and accrued income | 490/1 | - | €661 | +€661 | |
| Total equity and liabilities | 10/49 | €39,153 | €54,382 | +€15,228 | +38.9% |
| Equity | 10/15 | €8,100 | €8,405 | +€305 | +3.8% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €5,100 | €5,405 | +€305 | +6.0% |
| Amounts payable | 17/49 | €31,053 | €45,976 | +€14,923 | +48.1% |
| Amounts payable within one year | 42/48 | €31,053 | €45,976 | +€14,923 | +48.1% |
| Financial debts | 43 | €3,476 | - | -€3,476 | |
| Credit institutions | 430/8 | €3,476 | - | -€3,476 | |
| Trade debts | 44 | €2,870 | €13,524 | +€10,654 | +371.2% |
| Suppliers | 440/4 | €2,870 | €13,524 | +€10,654 | +371.2% |
| Taxes, remuneration and social security | 45 | €24,707 | €32,453 | +€7,746 | +31.4% |
| Taxes | 450/3 | €24,707 | €32,453 | +€7,746 | +31.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,237 | €482 | -€755 | -61.0% |
| Other operating charges | 640/8 | €488 | €503 | +€14 | +2.9% |
| Gross operating margin | 9900 | €45,670 | €65,149 | +€19,479 | +42.7% |
| Operating profit (loss) | 9901 | €43,945 | €64,164 | +€20,219 | +46.0% |
| Financial income | 75/76B | €390 | €899 | +€509 | +130.7% |
| Recurring financial income | 75 | €390 | €899 | +€509 | +130.7% |
| Financial charges | 65/66B | €456 | €779 | +€324 | +71.0% |
| Recurring financial charges | 65 | €456 | €779 | +€324 | +71.0% |
| Profit (loss) for the period before taxes | 9903 | €43,878 | €64,283 | +€20,405 | +46.5% |
| Income taxes | 67/77 | €9,665 | €13,978 | +€4,313 | +44.6% |
| Profit (loss) for the period | 9904 | €34,213 | €50,305 | +€16,092 | +47.0% |
| Profit (loss) for the period to be appropriated | 9905 | €34,213 | €50,305 | +€16,092 | +47.0% |
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 9 October 2026 via checked.be.