TRAP2: what changed
Two fiscal 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.
What changed
TRAP2
NACE 43.320, Joinery installation
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€32,655
2024 · €25,031+€7,624
Equity
€106,819
2024 · €79,164+€27,655
Cash
€68,454
2024 · €63,739+€4,715
Balance sheet total
€756,160
2024 · €667,577+€88,583
Largest movements
Assets
- Tangible fixed assets +€41,810
up €41,810 (+9.3%), from €450,408 to €492,218
of which Furniture and vehicles: +€42,968
- Receivables within one year +€39,565
up €39,565 (+38.9%), from €101,746 to €141,312
of which Trade receivables: +€36,496
Equity and liabilities
- Trade debts +€40,560
up €40,560 (+56.7%), from €71,580 to €112,140
- Debts after one year +€29,190
up €29,190 (+8.9%), from €326,293 to €355,483
- Reserves +€27,655
up €27,655 (+45.7%), from €60,564 to €88,219
- Other debts -€17,354
down €17,354 (-14.3%), from €121,428 to €104,075
Income statement
- Gross operating margin +€42,889
up €42,889 (+10.4%), from €413,136 to €456,025
- Staff costs +€31,859
up €31,859 (+9.4%), from €340,251 to €372,111
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.
Result 2024
€25,031
Gross operating margin
+€42,889
Staff costs
-€31,859
Depreciation
-€1,835
Other operating charges
-€319
Financial income
-€158
Financial charges
+€198
Taxes
-€1,291
Result 2025
€32,655
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.
From operations
+€34,983
Investment
-€59,281
Financing
+€29,013
Cash 2024
€63,739
From operations (derived)
+€34,983
Net result for the year
+€32,655
Depreciation
+€17,472
Stocks and contracts
-€2,484
Receivables within one year
-€39,565
Deferred charges and accrued income
-€8
Trade debts
+€40,560
Tax, wage and social debts
+€3,372
Other debts
-€17,354
Accrued charges and deferred income
+€337
Investment (derived)
-€59,281
Investment in fixed assets (net)
-€59,281
Financing
+€29,013
Debts after one year
+€29,190
Current portion of long-term debt
+€4,731
Short-term financial debts
+€93
Contributions, distributions and other
-€5,000
Cash 2025
€68,454
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €667,577 | €756,160 | +€88,583 | +13.3% |
| Fixed assets | 21/28 | €451,304 | €493,113 | +€41,810 | +9.3% |
| Tangible fixed assets | 22/27 | €450,408 | €492,218 | +€41,810 | +9.3% |
| Land and buildings | 22 | €439,135 | €430,834 | -€8,301 | -1.9% |
| Plant, machinery and equipment | 23 | €6,502 | €13,644 | +€7,142 | +109.8% |
| Furniture and vehicles | 24 | €4,771 | €47,740 | +€42,968 | +900.6% |
| Financial fixed assets | 28 | €895 | €895 | = | 0.0% |
| Current assets | 29/58 | €216,273 | €263,046 | +€46,773 | +21.6% |
| Stocks and contracts in progress | 3 | €46,698 | €49,182 | +€2,484 | +5.3% |
| Stocks | 30/36 | €46,698 | €49,182 | +€2,484 | +5.3% |
| Amounts receivable within one year | 40/41 | €101,746 | €141,312 | +€39,565 | +38.9% |
| Trade receivables | 40 | €76,322 | €112,819 | +€36,496 | +47.8% |
| Other amounts receivable | 41 | €25,424 | €28,493 | +€3,069 | +12.1% |
| Cash at bank and in hand | 54/58 | €63,739 | €68,454 | +€4,715 | +7.4% |
| Deferred charges and accrued income | 490/1 | €4,091 | €4,099 | +€8 | +0.2% |
| Total equity and liabilities | 10/49 | €667,577 | €756,160 | +€88,583 | +13.3% |
| Equity | 10/15 | €79,164 | €106,819 | +€27,655 | +34.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €60,564 | €88,219 | +€27,655 | +45.7% |
| Distributable reserves | 133 | €60,564 | €88,219 | +€27,655 | +45.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €588,413 | €649,341 | +€60,928 | +10.4% |
| Amounts payable after more than one year | 17 | €326,293 | €355,483 | +€29,190 | +8.9% |
| Financial debts | 170/4 | €326,293 | €355,483 | +€29,190 | +8.9% |
| Amounts payable within one year | 42/48 | €260,886 | €292,288 | +€31,401 | +12.0% |
| Current portion of amounts payable after more than one year | 42 | €38,782 | €43,513 | +€4,731 | +12.2% |
| Financial debts | 43 | €3,182 | €3,275 | +€93 | +2.9% |
| Credit institutions | 430/8 | €3,182 | €3,275 | +€93 | +2.9% |
| Trade debts | 44 | €71,580 | €112,140 | +€40,560 | +56.7% |
| Suppliers | 440/4 | €71,580 | €112,140 | +€40,560 | +56.7% |
| Taxes, remuneration and social security | 45 | €25,913 | €29,285 | +€3,372 | +13.0% |
| Taxes | 450/3 | €11,966 | €15,565 | +€3,599 | +30.1% |
| Remuneration and social security | 454/9 | €13,948 | €13,720 | -€227 | -1.6% |
| Other amounts payable | 47/48 | €121,428 | €104,075 | -€17,354 | -14.3% |
| Accrued charges and deferred income | 492/3 | €1,234 | €1,570 | +€337 | +27.3% |
| Remuneration, social security and pensions | 62 | €340,251 | €372,111 | +€31,859 | +9.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,636 | €17,472 | +€1,835 | +11.7% |
| Other operating charges | 640/8 | €3,081 | €3,400 | +€319 | +10.4% |
| Gross operating margin | 9900 | €413,136 | €456,025 | +€42,889 | +10.4% |
| Operating profit (loss) | 9901 | €54,168 | €63,043 | +€8,875 | +16.4% |
| Financial income | 75/76B | €533 | €375 | -€158 | -29.6% |
| Recurring financial income | 75 | €533 | €375 | -€158 | -29.6% |
| Financial charges | 65/66B | €17,943 | €17,745 | -€198 | -1.1% |
| Recurring financial charges | 65 | €17,943 | €17,745 | -€198 | -1.1% |
| Profit (loss) for the period before taxes | 9903 | €36,758 | €45,673 | +€8,915 | +24.3% |
| Income taxes | 67/77 | €11,727 | €13,018 | +€1,291 | +11.0% |
| Profit (loss) for the period | 9904 | €25,031 | €32,655 | +€7,624 | +30.5% |
| Profit (loss) for the period to be appropriated | 9905 | €25,031 | €32,655 | +€7,624 | +30.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.