TRAPMANN: 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.
TRAPMANN
Largest movements
- Receivables within one year +€404,788
up €404,788 (+106.2%), from €381,227 to €786,015
of which Trade receivables: +€318,185
- Tangible fixed assets +€84,613
up €84,613 (+131.8%), from €64,201 to €148,815
of which Plant, machinery and equipment: +€66,862
- Cash +€82,574
up €82,574 (+83.6%), from €98,796 to €181,369
mainly Current portion of long-term debt (+€446,872) and Net result for the year (+€219,979)
- Stocks and contracts +€45,707
up €45,707 (+10.3%), from €443,069 to €488,776
of which Stocks: +€89,239
- Current portion of long-term debt +€446,872
up €446,872 (+15554.5%), from €2,873 to €449,745
- Short-term financial debts -€250,000
no longer reported in 2025 (was €250,000)
- Trade debts +€203,409
up €203,409 (+126.2%), from €161,219 to €364,629
- Profit (loss) carried forward +€197,713
up €197,713 (+54.3%), from €363,783 to €561,496
- Other debts -€65,699
down €65,699 (-39.2%), from €167,775 to €102,076
- Gross operating margin +€150,151
up €150,151 (+18.6%), from €805,796 to €955,947
- Staff costs +€33,225
up €33,225 (+6.3%), from €526,450 to €559,674
- Taxes +€28,498
up €28,498 (+71.2%), from €40,025 to €68,523
- Depreciation +€19,612
up €19,612 (+44.7%), from €43,909 to €63,522
- Financial charges +€15,215
up €15,215 (+57.9%), from €26,296 to €41,511
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 | €1,128,604 | €1,740,697 | +€612,093 | +54.2% |
| Fixed assets | 21/28 | €139,522 | €232,099 | +€92,576 | +66.4% |
| Intangible fixed assets | 21 | €67,605 | €75,568 | +€7,963 | +11.8% |
| Tangible fixed assets | 22/27 | €64,201 | €148,815 | +€84,613 | +131.8% |
| Land and buildings | 22 | €6,412 | €21,621 | +€15,209 | +237.2% |
| Plant, machinery and equipment | 23 | €37,239 | €104,101 | +€66,862 | +179.5% |
| Furniture and vehicles | 24 | €20,550 | €23,092 | +€2,542 | +12.4% |
| Financial fixed assets | 28 | €7,716 | €7,716 | = | 0.0% |
| Current assets | 29/58 | €989,082 | €1,508,598 | +€519,516 | +52.5% |
| Amounts receivable after more than one year | 29 | €59,000 | €49,000 | -€10,000 | -16.9% |
| Other amounts receivable | 291 | €59,000 | €49,000 | -€10,000 | -16.9% |
| Stocks and contracts in progress | 3 | €443,069 | €488,776 | +€45,707 | +10.3% |
| Stocks | 30/36 | €392,537 | €481,776 | +€89,239 | +22.7% |
| Contracts in progress | 37 | €50,532 | €7,000 | -€43,532 | -86.1% |
| Amounts receivable within one year | 40/41 | €381,227 | €786,015 | +€404,788 | +106.2% |
| Trade receivables | 40 | €351,544 | €669,729 | +€318,185 | +90.5% |
| Other amounts receivable | 41 | €29,683 | €116,287 | +€86,603 | +291.8% |
| Cash at bank and in hand | 54/58 | €98,796 | €181,369 | +€82,574 | +83.6% |
| Deferred charges and accrued income | 490/1 | €6,990 | €3,438 | -€3,552 | -50.8% |
| Total equity and liabilities | 10/49 | €1,128,604 | €1,740,697 | +€612,093 | +54.2% |
| Equity | 10/15 | €433,083 | €630,796 | +€197,713 | +45.7% |
| Contributions | 10/11 | €63,000 | €63,000 | = | 0.0% |
| Capital | 10 | €63,000 | €63,000 | = | 0.0% |
| Issued capital | 100 | €63,000 | €63,000 | = | 0.0% |
| Reserves | 13 | €6,300 | €6,300 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,300 | €6,300 | = | 0.0% |
| Legal reserve | 130 | €6,300 | €6,300 | = | 0.0% |
| Profit (loss) carried forward | 14 | €363,783 | €561,496 | +€197,713 | +54.3% |
| Amounts payable | 17/49 | €695,522 | €1,109,901 | +€414,380 | +59.6% |
| Amounts payable after more than one year | 17 | - | €26,442 | +€26,442 | |
| Financial debts | 170/4 | - | €26,442 | +€26,442 | |
| Amounts payable within one year | 42/48 | €695,522 | €1,083,459 | +€387,938 | +55.8% |
| Current portion of amounts payable after more than one year | 42 | €2,873 | €449,745 | +€446,872 | +15554.5% |
| Financial debts | 43 | €250,000 | - | -€250,000 | |
| Credit institutions | 430/8 | €250,000 | - | -€250,000 | |
| Trade debts | 44 | €161,219 | €364,629 | +€203,409 | +126.2% |
| Suppliers | 440/4 | €161,219 | €364,629 | +€203,409 | +126.2% |
| Taxes, remuneration and social security | 45 | €113,654 | €167,009 | +€53,355 | +46.9% |
| Taxes | 450/3 | €46,347 | €93,297 | +€46,949 | +101.3% |
| Remuneration and social security | 454/9 | €67,307 | €73,712 | +€6,406 | +9.5% |
| Other amounts payable | 47/48 | €167,775 | €102,076 | -€65,699 | -39.2% |
| Remuneration, social security and pensions | 62 | €526,450 | €559,674 | +€33,225 | +6.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,909 | €63,522 | +€19,612 | +44.7% |
| Other operating charges | 640/8 | €2,922 | €3,427 | +€505 | +17.3% |
| Non-recurring operating charges | 66A | €3,092 | - | -€3,092 | |
| Gross operating margin | 9900 | €805,796 | €955,947 | +€150,151 | +18.6% |
| Operating profit (loss) | 9901 | €229,423 | €329,324 | +€99,901 | +43.5% |
| Financial income | 75/76B | €0 | €689 | +€689 | |
| Recurring financial income | 75 | €0 | €689 | +€689 | |
| Financial charges | 65/66B | €26,296 | €41,511 | +€15,215 | +57.9% |
| Recurring financial charges | 65 | €26,296 | €41,511 | +€15,215 | +57.9% |
| Profit (loss) for the period before taxes | 9903 | €203,127 | €288,502 | +€85,375 | +42.0% |
| Income taxes | 67/77 | €40,025 | €68,523 | +€28,498 | +71.2% |
| Profit (loss) for the period | 9904 | €163,102 | €219,979 | +€56,877 | +34.9% |
| Profit (loss) for the period to be appropriated | 9905 | €163,102 | €219,979 | +€56,877 | +34.9% |
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 1 October 2026 via checked.be.