TRADHO: 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.
TRADHO
Largest movements
- Receivables within one year +€51,244
up €51,244 (+14.2%), from €360,914 to €412,158
of which Trade receivables: +€44,167
- Cash +€22,165
up €22,165 (+45.9%), from €48,325 to €70,491
mainly Net result for the year (+€121,361) and Depreciation (+€19,769)
- Tangible fixed assets -€15,809
down €15,809 (-48.8%), from €32,384 to €16,575
of which Furniture and vehicles: -€9,764
- Reserves +€66,969
up €66,969 (+18.7%), from €358,435 to €425,404
- Trade debts -€14,460
down €14,460 (-28.7%), from €50,400 to €35,940
- Other operating charges -€90,434
down €90,434 (-74.5%), from €121,365 to €30,931
- Gross operating margin +€54,668
up €54,668 (+31.7%), from €172,523 to €227,191
- Taxes +€45,624
up €45,624 (+491.4%), from €9,285 to €54,910
- Depreciation -€2,757
down €2,757 (-12.2%), from €22,526 to €19,769
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 | €491,212 | €544,672 | +€53,460 | +10.9% |
| Fixed assets | 21/28 | €81,792 | €62,023 | -€19,769 | -24.2% |
| Intangible fixed assets | 21 | €49,408 | €45,448 | -€3,960 | -8.0% |
| Tangible fixed assets | 22/27 | €32,384 | €16,575 | -€15,809 | -48.8% |
| Plant, machinery and equipment | 23 | €19,628 | €13,583 | -€6,045 | -30.8% |
| Furniture and vehicles | 24 | €12,756 | €2,992 | -€9,764 | -76.5% |
| Current assets | 29/58 | €409,420 | €482,649 | +€73,229 | +17.9% |
| Amounts receivable within one year | 40/41 | €360,914 | €412,158 | +€51,244 | +14.2% |
| Trade receivables | 40 | €296,951 | €341,118 | +€44,167 | +14.9% |
| Other amounts receivable | 41 | €63,963 | €71,040 | +€7,077 | +11.1% |
| Cash at bank and in hand | 54/58 | €48,325 | €70,491 | +€22,165 | +45.9% |
| Deferred charges and accrued income | 490/1 | €180 | - | -€180 | |
| Total equity and liabilities | 10/49 | €491,212 | €544,672 | +€53,460 | +10.9% |
| Equity | 10/15 | €370,835 | €437,804 | +€66,969 | +18.1% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €358,435 | €425,404 | +€66,969 | +18.7% |
| Distributable reserves | 133 | €358,435 | €425,404 | +€66,969 | +18.7% |
| Amounts payable | 17/49 | €120,377 | €106,868 | -€13,508 | -11.2% |
| Amounts payable within one year | 42/48 | €76,061 | €66,698 | -€9,363 | -12.3% |
| Trade debts | 44 | €50,400 | €35,940 | -€14,460 | -28.7% |
| Suppliers | 440/4 | €50,400 | €35,940 | -€14,460 | -28.7% |
| Taxes, remuneration and social security | 45 | €25,661 | €30,758 | +€5,098 | +19.9% |
| Taxes | 450/3 | €25,661 | €30,758 | +€5,098 | +19.9% |
| Accrued charges and deferred income | 492/3 | €44,316 | €40,170 | -€4,146 | -9.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,526 | €19,769 | -€2,757 | -12.2% |
| Other operating charges | 640/8 | €121,365 | €30,931 | -€90,434 | -74.5% |
| Gross operating margin | 9900 | €172,523 | €227,191 | +€54,668 | +31.7% |
| Operating profit (loss) | 9901 | €28,632 | €176,491 | +€147,859 | +516.4% |
| Financial income | 75/76B | €223 | €532 | +€309 | +138.2% |
| Recurring financial income | 75 | €223 | €532 | +€309 | +138.2% |
| Financial charges | 65/66B | €889 | €753 | -€136 | -15.3% |
| Recurring financial charges | 65 | €889 | €753 | -€136 | -15.3% |
| Profit (loss) for the period before taxes | 9903 | €27,967 | €176,270 | +€148,303 | +530.3% |
| Income taxes | 67/77 | €9,285 | €54,910 | +€45,624 | +491.4% |
| Profit (loss) for the period | 9904 | €18,682 | €121,361 | +€102,679 | +549.6% |
| Profit (loss) for the period to be appropriated | 9905 | €18,682 | €121,361 | +€102,679 | +549.6% |
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.