Tr@ce: 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.
Tr@ce
Largest movements
- Stocks and contracts -€337,045
down €337,045 (-89.9%), from €374,815 to €37,769
- Cash +€23,284
up €23,284 (+17.1%), from €136,368 to €159,653
mainly Stocks and contracts (+€337,045) and Net result for the year (+€128,348)
- Receivables within one year +€12,283
up €12,283 (+38.7%), from €31,753 to €44,036
of which Other amounts receivable: +€20,500
- Tangible fixed assets -€10,102
down €10,102 (-8.8%), from €115,247 to €105,145
of which Land and buildings: -€10,581
- Debts after one year -€213,673
down €213,673 (-74.0%), from €288,845 to €75,172
of which Financial debts: -€214,358
- Other debts -€200,817
down €200,817 (-68.8%), from €291,913 to €91,096
- Profit (loss) carried forward +€72,708
up €72,708, from -€70,508 to €2,200
- Reserves +€57,500
up €57,500, from €0 to €57,500
of which Distributable reserves: +€57,500
- Trade debts -€57,384
down €57,384 (-50.8%), from €112,973 to €55,589
- Gross operating margin +€192,401
up €192,401, from -€18,918 to €173,483
- Financial charges +€25,223
up €25,223 (+974%), from €2,589 to €27,812
- Taxes +€5,899
up €5,899 (+3,718%), from €159 to €6,057
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 | €659,080 | €347,196 | -€311,883 | -47.3% |
| Fixed assets | 21/28 | €115,247 | €105,145 | -€10,102 | -8.8% |
| Tangible fixed assets | 22/27 | €115,247 | €105,145 | -€10,102 | -8.8% |
| Land and buildings | 22 | €114,778 | €104,196 | -€10,581 | -9.2% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €469 | €948 | +€479 | +102% |
| Current assets | 29/58 | €543,833 | €242,052 | -€301,781 | -55.5% |
| Stocks and contracts in progress | 3 | €374,815 | €37,769 | -€337,045 | -89.9% |
| Stocks | 30/36 | €374,815 | €37,769 | -€337,045 | -89.9% |
| Amounts receivable within one year | 40/41 | €31,753 | €44,036 | +€12,283 | +38.7% |
| Trade receivables | 40 | €28,017 | €19,800 | -€8,217 | -29.3% |
| Other amounts receivable | 41 | €3,736 | €24,236 | +€20,500 | +549% |
| Cash at bank and in hand | 54/58 | €136,368 | €159,653 | +€23,284 | +17.1% |
| Deferred charges and accrued income | 490/1 | €897 | €594 | -€303 | -33.8% |
| Total equity and liabilities | 10/49 | €659,080 | €347,196 | -€311,883 | -47.3% |
| Equity | 10/15 | -€50,048 | €78,300 | +€128,348 | |
| Contributions | 10/11 | €20,460 | €18,600 | -€1,860 | -9.1% |
| Reserves | 13 | €0 | €57,500 | +€57,500 | |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | - | €57,500 | +€57,500 | |
| Profit (loss) carried forward | 14 | -€70,508 | €2,200 | +€72,708 | |
| Amounts payable | 17/49 | €709,127 | €268,896 | -€440,231 | -62.1% |
| Amounts payable after more than one year | 17 | €288,845 | €75,172 | -€213,673 | -74.0% |
| Financial debts | 170/4 | €285,148 | €70,789 | -€214,358 | -75.2% |
| Other amounts payable | 178/9 | €3,698 | €4,383 | +€685 | +18.5% |
| Amounts payable within one year | 42/48 | €420,282 | €193,724 | -€226,558 | -53.9% |
| Current portion of amounts payable after more than one year | 42 | €7,421 | €7,516 | +€95 | +1.3% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €112,973 | €55,589 | -€57,384 | -50.8% |
| Suppliers | 440/4 | €112,973 | €55,589 | -€57,384 | -50.8% |
| Advances received on contracts in progress | 46 | €7,189 | €22,218 | +€15,030 | +209% |
| Taxes, remuneration and social security | 45 | €787 | €17,305 | +€16,518 | +2,100% |
| Taxes | 450/3 | €787 | €17,305 | +€16,518 | +2,100% |
| Other amounts payable | 47/48 | €291,913 | €91,096 | -€200,817 | -68.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,887 | €10,874 | -€13 | -0.1% |
| Other operating charges | 640/8 | €461 | €419 | -€42 | -9.1% |
| Gross operating margin | 9900 | -€18,918 | €173,483 | +€192,401 | |
| Operating profit (loss) | 9901 | -€30,266 | €162,191 | +€192,457 | |
| Financial income | 75/76B | €10 | €27 | +€16 | +164% |
| Recurring financial income | 75 | €10 | €27 | +€16 | +164% |
| Financial charges | 65/66B | €2,589 | €27,812 | +€25,223 | +974% |
| Recurring financial charges | 65 | €2,589 | €27,812 | +€25,223 | +974% |
| Profit (loss) for the period before taxes | 9903 | -€32,845 | €134,405 | +€167,250 | |
| Income taxes | 67/77 | €159 | €6,057 | +€5,899 | +3,718% |
| Profit (loss) for the period | 9904 | -€33,003 | €128,348 | +€161,351 | |
| Profit (loss) for the period to be appropriated | 9905 | -€33,003 | €128,348 | +€161,351 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.