TRAPEZE: 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.
TRAPEZE
Largest movements
- Cash -€36,185
down €36,185 (-43.0%), from €84,135 to €47,950
mainly Contributions, distributions and other (-€53,000) and Investment in fixed assets (net) (-€12,590)
- Tangible fixed assets +€10,693
up €10,693 (+1,407%), from €760 to €11,453
of which Other tangible fixed assets: +€5,958
- Receivables within one year -€4,990
down €4,990 (-67.4%), from €7,399 to €2,410
of which Trade receivables: -€4,345
- Deferred charges and accrued income +€1,096
up €1,096 (+92.5%), from €1,185 to €2,280
- Profit (loss) carried forward -€27,857
down €27,857 (-48.3%), from €57,655 to €29,798
- Gross operating margin -€1,890
down €1,890 (-4.9%), from €38,762 to €36,871
- Depreciation +€1,605
up €1,605 (+549%), from €292 to €1,897
- Taxes -€981
down €981 (-11.0%), from €8,901 to €7,920
- Financial charges +€562
up €562 (+59.4%), from €946 to €1,508
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 | €93,479 | €64,093 | -€29,386 | -31.4% |
| Fixed assets | 21/28 | €760 | €11,453 | +€10,693 | +1,407% |
| Tangible fixed assets | 22/27 | €760 | €11,453 | +€10,693 | +1,407% |
| Plant, machinery and equipment | 23 | - | €5,027 | +€5,027 | |
| Furniture and vehicles | 24 | €760 | €468 | -€292 | -38.5% |
| Other tangible fixed assets | 26 | - | €5,958 | +€5,958 | |
| Current assets | 29/58 | €92,719 | €52,639 | -€40,080 | -43.2% |
| Amounts receivable within one year | 40/41 | €7,399 | €2,410 | -€4,990 | -67.4% |
| Trade receivables | 40 | €4,345 | - | -€4,345 | |
| Other amounts receivable | 41 | €3,054 | €2,410 | -€645 | -21.1% |
| Cash at bank and in hand | 54/58 | €84,135 | €47,950 | -€36,185 | -43.0% |
| Deferred charges and accrued income | 490/1 | €1,185 | €2,280 | +€1,096 | +92.5% |
| Total equity and liabilities | 10/49 | €93,479 | €64,093 | -€29,386 | -31.4% |
| Equity | 10/15 | €86,017 | €58,160 | -€27,857 | -32.4% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €25,361 | €25,361 | = | 0.0% |
| Distributable reserves | 133 | €25,361 | €25,361 | = | 0.0% |
| Profit (loss) carried forward | 14 | €57,655 | €29,798 | -€27,857 | -48.3% |
| Amounts payable | 17/49 | €7,462 | €5,933 | -€1,529 | -20.5% |
| Amounts payable within one year | 42/48 | €7,441 | €5,933 | -€1,508 | -20.3% |
| Trade debts | 44 | €5,504 | €5,532 | +€28 | +0.5% |
| Suppliers | 440/4 | €5,504 | €5,532 | +€28 | +0.5% |
| Taxes, remuneration and social security | 45 | €1,077 | €401 | -€677 | -62.8% |
| Taxes | 450/3 | €1,077 | €401 | -€677 | -62.8% |
| Other amounts payable | 47/48 | €859 | - | -€859 | |
| Accrued charges and deferred income | 492/3 | €21 | - | -€21 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €292 | €1,897 | +€1,605 | +549% |
| Other operating charges | 640/8 | €392 | €705 | +€313 | +79.8% |
| Gross operating margin | 9900 | €38,762 | €36,871 | -€1,890 | -4.9% |
| Operating profit (loss) | 9901 | €38,077 | €34,270 | -€3,808 | -10.0% |
| Financial income | 75/76B | €284 | €301 | +€18 | +6.3% |
| Recurring financial income | 75 | €284 | €301 | +€18 | +6.3% |
| Financial charges | 65/66B | €946 | €1,508 | +€562 | +59.4% |
| Recurring financial charges | 65 | €946 | €1,508 | +€562 | +59.4% |
| Profit (loss) for the period before taxes | 9903 | €37,415 | €33,063 | -€4,352 | -11.6% |
| Income taxes | 67/77 | €8,901 | €7,920 | -€981 | -11.0% |
| Profit (loss) for the period | 9904 | €28,514 | €25,143 | -€3,371 | -11.8% |
| Profit (loss) for the period to be appropriated | 9905 | €28,514 | €25,143 | -€3,371 | -11.8% |
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 14 October 2026 via checked.be.