TR CONSTRUCTION: 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 CONSTRUCTION
Largest movements
- Stocks and contracts +€208,623
new in 2025: €208,623
- Cash +€26,536
up €26,536 (+35.1%), from €75,522 to €102,058
mainly Debts after one year (+€168,585) and Net result for the year (+€35,072)
- Receivables within one year +€5,155
up €5,155 (+24.0%), from €21,453 to €26,608
of which Other amounts receivable: +€16,496
- Tangible fixed assets -€4,565
down €4,565 (-47.6%), from €9,592 to €5,026
of which Furniture and vehicles: -€2,421
- Debts after one year +€168,585
up €168,585, from €0 to €168,585
- Reserves +€35,000
up €35,000 (+42.2%), from €83,000 to €118,000
- Trade debts +€31,012
up €31,012 (+394.2%), from €7,868 to €38,879
- Current portion of long-term debt +€9,258
up €9,258 (+578.4%), from €1,600 to €10,858
- Tax, wage and social debts -€4,092
down €4,092 (-77.5%), from €5,283 to €1,191
- Other operating charges +€18,654
up €18,654 (+1637.1%), from €1,139 to €19,794
- Gross operating margin +€15,799
up €15,799 (+28.2%), from €55,982 to €71,781
- Depreciation -€3,484
down €3,484 (-43.3%), from €8,049 to €4,565
- Financial charges +€2,969
up €2,969 (+2066.6%), from €144 to €3,113
- Taxes -€769
down €769 (-7.7%), from €10,045 to €9,276
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 | €106,566 | €342,316 | +€235,749 | +221.2% |
| Fixed assets | 21/28 | €9,592 | €5,026 | -€4,565 | -47.6% |
| Tangible fixed assets | 22/27 | €9,592 | €5,026 | -€4,565 | -47.6% |
| Plant, machinery and equipment | 23 | €2,095 | €800 | -€1,296 | -61.8% |
| Furniture and vehicles | 24 | €4,375 | €1,955 | -€2,421 | -55.3% |
| Other tangible fixed assets | 26 | €3,121 | €2,272 | -€849 | -27.2% |
| Current assets | 29/58 | €96,975 | €337,289 | +€240,315 | +247.8% |
| Stocks and contracts in progress | 3 | - | €208,623 | +€208,623 | |
| Stocks | 30/36 | - | €208,623 | +€208,623 | |
| Amounts receivable within one year | 40/41 | €21,453 | €26,608 | +€5,155 | +24.0% |
| Trade receivables | 40 | €19,604 | €8,263 | -€11,341 | -57.9% |
| Other amounts receivable | 41 | €1,849 | €18,345 | +€16,496 | +892.1% |
| Cash at bank and in hand | 54/58 | €75,522 | €102,058 | +€26,536 | +35.1% |
| Total equity and liabilities | 10/49 | €106,566 | €342,316 | +€235,749 | +221.2% |
| Equity | 10/15 | €87,730 | €122,802 | +€35,072 | +40.0% |
| Contributions | 10/11 | €4,500 | €4,500 | = | 0.0% |
| Reserves | 13 | €83,000 | €118,000 | +€35,000 | +42.2% |
| Distributable reserves | 133 | €83,000 | €118,000 | +€35,000 | +42.2% |
| Profit (loss) carried forward | 14 | €230 | €302 | +€72 | +31.2% |
| Amounts payable | 17/49 | €18,836 | €219,513 | +€200,677 | +1065.4% |
| Amounts payable after more than one year | 17 | €0 | €168,585 | +€168,585 | |
| Financial debts | 170/4 | €0 | €168,585 | +€168,585 | |
| Amounts payable within one year | 42/48 | €18,836 | €50,928 | +€32,093 | +170.4% |
| Current portion of amounts payable after more than one year | 42 | €1,600 | €10,858 | +€9,258 | +578.4% |
| Trade debts | 44 | €7,868 | €38,879 | +€31,012 | +394.2% |
| Suppliers | 440/4 | €7,868 | €38,879 | +€31,012 | +394.2% |
| Taxes, remuneration and social security | 45 | €5,283 | €1,191 | -€4,092 | -77.5% |
| Taxes | 450/3 | €5,283 | €1,191 | -€4,092 | -77.5% |
| Other amounts payable | 47/48 | €4,085 | €0 | -€4,085 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,049 | €4,565 | -€3,484 | -43.3% |
| Other operating charges | 640/8 | €1,139 | €19,794 | +€18,654 | +1637.1% |
| Gross operating margin | 9900 | €55,982 | €71,781 | +€15,799 | +28.2% |
| Operating profit (loss) | 9901 | €46,794 | €47,422 | +€629 | +1.3% |
| Financial income | 75/76B | €0 | €39 | +€39 | +193950.0% |
| Recurring financial income | 75 | €0 | €39 | +€39 | +193950.0% |
| Financial charges | 65/66B | €144 | €3,113 | +€2,969 | +2066.6% |
| Recurring financial charges | 65 | €144 | €3,113 | +€2,969 | +2066.6% |
| Profit (loss) for the period before taxes | 9903 | €46,650 | €44,348 | -€2,302 | -4.9% |
| Income taxes | 67/77 | €10,045 | €9,276 | -€769 | -7.7% |
| Profit (loss) for the period | 9904 | €36,605 | €35,072 | -€1,534 | -4.2% |
| Profit (loss) for the period to be appropriated | 9905 | €36,605 | €35,072 | -€1,534 | -4.2% |
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 10 October 2026 via checked.be.