TRAPPEN REYNDERS: 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.
TRAPPEN REYNDERS
Largest movements
- Cash +€115,189
up €115,189 (+17.1%), from €674,187 to €789,376
mainly Net result for the year (+€66,702) and Depreciation (+€59,447)
- Tangible fixed assets -€36,560
down €36,560 (-24.1%), from €151,864 to €115,304
of which Land and buildings: -€20,350
- Deferred charges and accrued income +€17,335
new in 2025: €17,335
- Receivables within one year +€11,596
up €11,596 (+22.4%), from €51,753 to €63,349
of which Trade receivables: +€10,788
- Reserves +€66,702
up €66,702 (+12.5%), from €533,980 to €600,682
- Other debts +€38,120
up €38,120 (+27.1%), from €140,571 to €178,691
- Trade debts +€17,456
up €17,456 (+48.7%), from €35,866 to €53,322
- Tax, wage and social debts -€15,194
down €15,194 (-31.8%), from €47,757 to €32,563
of which Taxes: -€16,528
- Gross operating margin -€40,162
down €40,162 (-17.2%), from €234,051 to €193,889
- Financial income +€18,861
up €18,861 (+268%), from €7,035 to €25,896
of which Non-recurring financial income: +€17,325
- Taxes -€17,777
down €17,777 (-39.1%), from €45,414 to €27,637
- Other operating charges +€13,703
up €13,703 (+26.5%), from €51,729 to €65,432
- Depreciation -€4,631
down €4,631 (-7.2%), from €64,078 to €59,447
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 | €882,593 | €989,258 | +€106,665 | +12.1% |
| Fixed assets | 21/28 | €151,864 | €115,304 | -€36,560 | -24.1% |
| Tangible fixed assets | 22/27 | €151,864 | €115,304 | -€36,560 | -24.1% |
| Land and buildings | 22 | €84,202 | €63,852 | -€20,350 | -24.2% |
| Plant, machinery and equipment | 23 | €42,181 | €32,092 | -€10,089 | -23.9% |
| Furniture and vehicles | 24 | €25,481 | €19,360 | -€6,121 | -24.0% |
| Current assets | 29/58 | €730,729 | €873,954 | +€143,225 | +19.6% |
| Stocks and contracts in progress | 3 | €4,789 | €3,894 | -€895 | -18.7% |
| Stocks | 30/36 | €4,789 | €3,894 | -€895 | -18.7% |
| Amounts receivable within one year | 40/41 | €51,753 | €63,349 | +€11,596 | +22.4% |
| Trade receivables | 40 | €51,753 | €62,541 | +€10,788 | +20.8% |
| Other amounts receivable | 41 | - | €808 | +€808 | |
| Cash at bank and in hand | 54/58 | €674,187 | €789,376 | +€115,189 | +17.1% |
| Deferred charges and accrued income | 490/1 | - | €17,335 | +€17,335 | |
| Total equity and liabilities | 10/49 | €882,593 | €989,258 | +€106,665 | +12.1% |
| Equity | 10/15 | €657,980 | €724,682 | +€66,702 | +10.1% |
| Contributions | 10/11 | €124,000 | €124,000 | = | 0.0% |
| Reserves | 13 | €533,980 | €600,682 | +€66,702 | +12.5% |
| Distributable reserves | 133 | €533,980 | €600,682 | +€66,702 | +12.5% |
| Amounts payable | 17/49 | €224,613 | €264,576 | +€39,963 | +17.8% |
| Amounts payable within one year | 42/48 | €224,613 | €264,576 | +€39,963 | +17.8% |
| Current portion of amounts payable after more than one year | 42 | €419 | - | -€419 | |
| Trade debts | 44 | €35,866 | €53,322 | +€17,456 | +48.7% |
| Suppliers | 440/4 | €35,866 | €53,322 | +€17,456 | +48.7% |
| Taxes, remuneration and social security | 45 | €47,757 | €32,563 | -€15,194 | -31.8% |
| Taxes | 450/3 | €47,757 | €31,229 | -€16,528 | -34.6% |
| Remuneration and social security | 454/9 | - | €1,334 | +€1,334 | |
| Other amounts payable | 47/48 | €140,571 | €178,691 | +€38,120 | +27.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €64,078 | €59,447 | -€4,631 | -7.2% |
| Other operating charges | 640/8 | €51,729 | €65,432 | +€13,703 | +26.5% |
| Gross operating margin | 9900 | €234,051 | €193,889 | -€40,162 | -17.2% |
| Operating profit (loss) | 9901 | €118,244 | €69,010 | -€49,234 | -41.6% |
| Financial income | 75/76B | €7,035 | €25,896 | +€18,861 | +268% |
| Recurring financial income | 75 | €7,035 | €8,571 | +€1,536 | +21.8% |
| Non-recurring financial income | 76B | - | €17,325 | +€17,325 | |
| Financial charges | 65/66B | €1,555 | €567 | -€988 | -63.5% |
| Recurring financial charges | 65 | €1,555 | €567 | -€988 | -63.5% |
| Profit (loss) for the period before taxes | 9903 | €123,724 | €94,339 | -€29,385 | -23.8% |
| Income taxes | 67/77 | €45,414 | €27,637 | -€17,777 | -39.1% |
| Profit (loss) for the period | 9904 | €78,310 | €66,702 | -€11,608 | -14.8% |
| Profit (loss) for the period to be appropriated | 9905 | €78,310 | €66,702 | -€11,608 | -14.8% |
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 23 October 2026 via checked.be.