TradeForce: 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.
TradeForce
Largest movements
- Cash -€39,046
down €39,046 (-42.7%), from €91,435 to €52,389
mainly Debts after one year (-€75,813) and Net result for the year (-€24,867)
- Stocks and contracts -€19,470
down €19,470 (-42.0%), from €46,400 to €26,930
- Tangible fixed assets -€11,918
down €11,918 (-13.2%), from €90,247 to €78,328
of which Furniture and vehicles: -€21,342
- Deferred charges and accrued income +€5,685
new in 2025: €5,685
- Debts after one year -€75,813
down €75,813 (-57.1%), from €132,809 to €56,996
- Profit (loss) carried forward -€24,867
down €24,867, from €17,345 to -€7,523
- Current portion of long-term debt +€22,821
up €22,821 (+64.4%), from €35,427 to €58,248
- Trade debts +€16,072
up €16,072 (+299.0%), from €5,375 to €21,447
- Gross operating margin -€22,847
down €22,847 (-66.9%), from €34,128 to €11,281
- Depreciation +€5,203
up €5,203 (+21.7%), from €23,954 to €29,157
- Other operating charges -€812
down €812 (-82.9%), from €980 to €167
- Financial income -€662
down €662 (-93.4%), from €708 to €46
- Financial charges -€651
down €651 (-8.7%), from €7,521 to €6,870
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 | €240,232 | €176,450 | -€63,782 | -26.6% |
| Fixed assets | 21/28 | €90,247 | €79,028 | -€11,218 | -12.4% |
| Tangible fixed assets | 22/27 | €90,247 | €78,328 | -€11,918 | -13.2% |
| Plant, machinery and equipment | 23 | €2,553 | €13,409 | +€10,856 | +425.2% |
| Furniture and vehicles | 24 | €79,058 | €57,716 | -€21,342 | -27.0% |
| Other tangible fixed assets | 26 | €8,635 | €7,203 | -€1,432 | -16.6% |
| Financial fixed assets | 28 | - | €700 | +€700 | |
| Current assets | 29/58 | €149,985 | €97,421 | -€52,564 | -35.0% |
| Stocks and contracts in progress | 3 | €46,400 | €26,930 | -€19,470 | -42.0% |
| Stocks | 30/36 | €46,400 | €26,930 | -€19,470 | -42.0% |
| Amounts receivable within one year | 40/41 | €12,150 | €12,417 | +€266 | +2.2% |
| Trade receivables | 40 | €10,001 | €5,961 | -€4,040 | -40.4% |
| Other amounts receivable | 41 | €2,149 | €6,456 | +€4,307 | +200.4% |
| Cash at bank and in hand | 54/58 | €91,435 | €52,389 | -€39,046 | -42.7% |
| Deferred charges and accrued income | 490/1 | - | €5,685 | +€5,685 | |
| Total equity and liabilities | 10/49 | €240,232 | €176,450 | -€63,782 | -26.6% |
| Equity | 10/15 | €62,705 | €37,837 | -€24,867 | -39.7% |
| Contributions | 10/11 | €14,260 | €14,260 | = | 0.0% |
| Reserves | 13 | €31,100 | €31,100 | = | 0.0% |
| Distributable reserves | 133 | €31,100 | €31,100 | = | 0.0% |
| Profit (loss) carried forward | 14 | €17,345 | -€7,523 | -€24,867 | |
| Amounts payable | 17/49 | €177,527 | €138,612 | -€38,915 | -21.9% |
| Amounts payable after more than one year | 17 | €132,809 | €56,996 | -€75,813 | -57.1% |
| Financial debts | 170/4 | €132,809 | €56,996 | -€75,813 | -57.1% |
| Amounts payable within one year | 42/48 | €44,718 | €81,616 | +€36,898 | +82.5% |
| Current portion of amounts payable after more than one year | 42 | €35,427 | €58,248 | +€22,821 | +64.4% |
| Trade debts | 44 | €5,375 | €21,447 | +€16,072 | +299.0% |
| Suppliers | 440/4 | €5,375 | €21,447 | +€16,072 | +299.0% |
| Taxes, remuneration and social security | 45 | €3,350 | €991 | -€2,360 | -70.4% |
| Taxes | 450/3 | €3,350 | €991 | -€2,360 | -70.4% |
| Other amounts payable | 47/48 | €566 | €931 | +€366 | +64.6% |
| Accrued charges and deferred income | 492/3 | €0 | - | -€0 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,954 | €29,157 | +€5,203 | +21.7% |
| Other operating charges | 640/8 | €980 | €167 | -€812 | -82.9% |
| Gross operating margin | 9900 | €34,128 | €11,281 | -€22,847 | -66.9% |
| Operating profit (loss) | 9901 | €9,195 | -€18,044 | -€27,238 | |
| Financial income | 75/76B | €708 | €46 | -€662 | -93.4% |
| Recurring financial income | 75 | €708 | €46 | -€662 | -93.4% |
| Financial charges | 65/66B | €7,521 | €6,870 | -€651 | -8.7% |
| Recurring financial charges | 65 | €7,521 | €6,870 | -€651 | -8.7% |
| Profit (loss) for the period before taxes | 9903 | €2,382 | -€24,867 | -€27,250 | |
| Income taxes | 67/77 | €565 | - | -€565 | |
| Profit (loss) for the period | 9904 | €1,818 | -€24,867 | -€26,685 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,818 | -€24,867 | -€26,685 |
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 12 October 2026 via checked.be.