TR USINAGE: 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 USINAGE
Largest movements
- Tangible fixed assets +€84,586
up €84,586 (+41.0%), from €206,545 to €291,131
of which Leasing and similar rights: +€80,024
- Stocks and contracts +€22,448
new in 2025: €22,448
- Receivables within one year +€7,403
up €7,403 (+15.5%), from €47,648 to €55,051
- Debts after one year +€61,569
up €61,569 (+85.2%), from €72,276 to €133,845
- Investment grants +€23,000
new in 2025: €23,000
- Profit (loss) carried forward +€19,020
up €19,020 (+37.4%), from €50,920 to €69,940
- Current portion of long-term debt +€14,555
up €14,555 (+39.9%), from €36,443 to €50,998
- Other debts -€11,664
down €11,664 (-32.6%), from €35,817 to €24,152
- Gross operating margin +€47,765
up €47,765 (+45.9%), from €104,121 to €151,886
- Depreciation +€12,019
up €12,019 (+28.7%), from €41,862 to €53,881
- Staff costs +€8,251
up €8,251 (+12.9%), from €64,130 to €72,382
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 | €281,931 | €400,671 | +€118,740 | +42.1% |
| Fixed assets | 21/28 | €206,725 | €291,311 | +€84,586 | +40.9% |
| Tangible fixed assets | 22/27 | €206,545 | €291,131 | +€84,586 | +41.0% |
| Plant, machinery and equipment | 23 | €32,645 | €45,268 | +€12,622 | +38.7% |
| Furniture and vehicles | 24 | €17,820 | €9,759 | -€8,061 | -45.2% |
| Leasing and similar rights | 25 | €156,080 | €236,104 | +€80,024 | +51.3% |
| Financial fixed assets | 28 | €180 | €180 | = | 0.0% |
| Current assets | 29/58 | €75,206 | €109,360 | +€34,154 | +45.4% |
| Stocks and contracts in progress | 3 | - | €22,448 | +€22,448 | |
| Stocks | 30/36 | - | €22,448 | +€22,448 | |
| Amounts receivable within one year | 40/41 | €47,648 | €55,051 | +€7,403 | +15.5% |
| Trade receivables | 40 | €47,648 | €55,051 | +€7,403 | +15.5% |
| Cash at bank and in hand | 54/58 | €27,558 | €30,094 | +€2,536 | +9.2% |
| Deferred charges and accrued income | 490/1 | - | €1,767 | +€1,767 | |
| Total equity and liabilities | 10/49 | €281,931 | €400,671 | +€118,740 | +42.1% |
| Equity | 10/15 | €55,920 | €97,940 | +€42,020 | +75.1% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €50,920 | €69,940 | +€19,020 | +37.4% |
| Investment grants | 15 | - | €23,000 | +€23,000 | |
| Amounts payable | 17/49 | €226,011 | €302,731 | +€76,720 | +33.9% |
| Amounts payable after more than one year | 17 | €72,276 | €133,845 | +€61,569 | +85.2% |
| Financial debts | 170/4 | €72,276 | €133,845 | +€61,569 | +85.2% |
| Amounts payable within one year | 42/48 | €153,735 | €168,886 | +€15,151 | +9.9% |
| Current portion of amounts payable after more than one year | 42 | €36,443 | €50,998 | +€14,555 | +39.9% |
| Trade debts | 44 | €59,403 | €68,116 | +€8,713 | +14.7% |
| Suppliers | 440/4 | €59,403 | €68,116 | +€8,713 | +14.7% |
| Taxes, remuneration and social security | 45 | €22,074 | €25,620 | +€3,547 | +16.1% |
| Taxes | 450/3 | €22,074 | €25,620 | +€3,547 | +16.1% |
| Other amounts payable | 47/48 | €35,817 | €24,152 | -€11,664 | -32.6% |
| Remuneration, social security and pensions | 62 | €64,130 | €72,382 | +€8,251 | +12.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,862 | €53,881 | +€12,019 | +28.7% |
| Other operating charges | 640/8 | €951 | €260 | -€691 | -72.6% |
| Gross operating margin | 9900 | €104,121 | €151,886 | +€47,765 | +45.9% |
| Operating profit (loss) | 9901 | -€2,822 | €25,363 | +€28,186 | |
| Financial charges | 65/66B | €5,926 | €6,344 | +€417 | +7.0% |
| Recurring financial charges | 65 | €5,926 | €6,344 | +€417 | +7.0% |
| Profit (loss) for the period before taxes | 9903 | -€8,749 | €19,020 | +€27,768 | |
| Profit (loss) for the period | 9904 | -€8,749 | €19,020 | +€27,768 | |
| Profit (loss) for the period to be appropriated | 9905 | -€8,749 | €19,020 | +€27,768 |
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 20 October 2026 via checked.be.