TR@ME: 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@ME
Largest movements
- Receivables within one year +€99,498
up €99,498 (+58.0%), from €171,433 to €270,931
of which Trade receivables: +€83,567
- Cash -€28,287
down €28,287 (-32.0%), from €88,496 to €60,209
mainly Receivables within one year (-€99,498) and Tax, wage and social debts (-€23,144)
- Trade debts +€41,285
up €41,285 (+248%), from €16,669 to €57,954
- Short-term financial debts +€25,000
up €25,000 (+16.7%), from €150,000 to €175,000
- Tax, wage and social debts -€23,144
down €23,144 (-60.3%), from €38,411 to €15,267
of which Taxes: -€19,461
- Debts after one year +€14,052
up €14,052 (+117%), from €11,972 to €26,024
- Current portion of long-term debt +€5,633
up €5,633 (+122%), from €4,624 to €10,257
- Gross operating margin +€32,856
up €32,856 (+33.5%), from €98,026 to €130,882
- Staff costs -€5,412
down €5,412 (-5.7%), from €94,985 to €89,574
- Taxes +€4,879
up €4,879 (+918%), from €531 to €5,411
- Depreciation -€3,254
down €3,254 (-18.3%), from €17,794 to €14,539
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 | €319,391 | €387,329 | +€67,939 | +21.3% |
| Fixed assets | 21/28 | €59,083 | €55,844 | -€3,239 | -5.5% |
| Tangible fixed assets | 22/27 | €42,552 | €38,869 | -€3,683 | -8.7% |
| Plant, machinery and equipment | 23 | €0 | €0 | = | |
| Furniture and vehicles | 24 | €42,552 | €38,869 | -€3,683 | -8.7% |
| Financial fixed assets | 28 | €16,531 | €16,975 | +€444 | +2.7% |
| Current assets | 29/58 | €260,308 | €331,485 | +€71,177 | +27.3% |
| Amounts receivable within one year | 40/41 | €171,433 | €270,931 | +€99,498 | +58.0% |
| Trade receivables | 40 | €171,433 | €255,000 | +€83,567 | +48.7% |
| Other amounts receivable | 41 | - | €15,930 | +€15,930 | |
| Cash at bank and in hand | 54/58 | €88,496 | €60,209 | -€28,287 | -32.0% |
| Deferred charges and accrued income | 490/1 | €379 | €346 | -€33 | -8.8% |
| Total equity and liabilities | 10/49 | €319,391 | €387,329 | +€67,939 | +21.3% |
| Equity | 10/15 | €97,403 | €100,523 | +€3,119 | +3.2% |
| Contributions | 10/11 | €42,655 | €42,655 | = | 0.0% |
| Reserves | 13 | €36,538 | €36,538 | = | 0.0% |
| Tax-exempt reserves | 132 | €377 | €377 | = | 0.0% |
| Distributable reserves | 133 | €36,161 | €36,161 | = | 0.0% |
| Profit (loss) carried forward | 14 | €18,211 | €21,330 | +€3,119 | +17.1% |
| Amounts payable | 17/49 | €221,987 | €286,807 | +€64,819 | +29.2% |
| Amounts payable after more than one year | 17 | €11,972 | €26,024 | +€14,052 | +117% |
| Financial debts | 170/4 | €11,972 | €26,024 | +€14,052 | +117% |
| Amounts payable within one year | 42/48 | €210,016 | €259,828 | +€49,812 | +23.7% |
| Current portion of amounts payable after more than one year | 42 | €4,624 | €10,257 | +€5,633 | +122% |
| Financial debts | 43 | €150,000 | €175,000 | +€25,000 | +16.7% |
| Credit institutions | 430/8 | €150,000 | €175,000 | +€25,000 | +16.7% |
| Trade debts | 44 | €16,669 | €57,954 | +€41,285 | +248% |
| Suppliers | 440/4 | €16,669 | €57,954 | +€41,285 | +248% |
| Advances received on contracts in progress | 46 | - | €1,114 | +€1,114 | |
| Taxes, remuneration and social security | 45 | €38,411 | €15,267 | -€23,144 | -60.3% |
| Taxes | 450/3 | €29,728 | €10,267 | -€19,461 | -65.5% |
| Remuneration and social security | 454/9 | €8,682 | €5,000 | -€3,683 | -42.4% |
| Other amounts payable | 47/48 | €312 | €236 | -€76 | -24.3% |
| Accrued charges and deferred income | 492/3 | - | €954 | +€954 | |
| Remuneration, social security and pensions | 62 | €94,985 | €89,574 | -€5,412 | -5.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,794 | €14,539 | -€3,254 | -18.3% |
| Other operating charges | 640/8 | €445 | €422 | -€24 | -5.3% |
| Non-recurring operating charges | 66A | €1,100 | €4,728 | +€3,628 | +330% |
| Gross operating margin | 9900 | €98,026 | €130,882 | +€32,856 | +33.5% |
| Operating profit (loss) | 9901 | -€16,298 | €21,620 | +€37,918 | |
| Financial income | 75/76B | €31 | €579 | +€548 | +1,789% |
| Recurring financial income | 75 | €31 | €579 | +€548 | +1,789% |
| Financial charges | 65/66B | €13,087 | €13,669 | +€582 | +4.4% |
| Recurring financial charges | 65 | €13,087 | €13,669 | +€582 | +4.4% |
| Profit (loss) for the period before taxes | 9903 | -€29,354 | €8,530 | +€37,884 | |
| Income taxes | 67/77 | €531 | €5,411 | +€4,879 | +918% |
| Profit (loss) for the period | 9904 | -€29,886 | €3,119 | +€33,005 | |
| Profit (loss) for the period to be appropriated | 9905 | -€29,886 | €3,119 | +€33,005 |
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 13 October 2026 via checked.be.