TRB: 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.
TRB
Largest movements
- Cash +€391,884
up €391,884 (+65.7%), from €596,409 to €988,293
mainly Debts after one year (+€333,000) and Stocks and contracts (+€293,818)
- Stocks and contracts -€293,818
down €293,818 (-28.3%), from €1.0m to €744,188
- Tangible fixed assets +€234,599
up €234,599, from €0 to €234,599
of which Land and buildings: +€231,158
- Debts after one year +€333,000
up €333,000 (+63.3%), from €526,000 to €859,000
- Current portion of long-term debt -€242,000
down €242,000 (-67.2%), from €360,000 to €118,000
- Reserves +€221,261
up €221,261 (+32.1%), from €688,739 to €910,000
- Gross operating margin +€109,856
up €109,856 (+36.6%), from €300,094 to €409,951
- Taxes +€44,400
up €44,400 (+75.4%), from €58,860 to €103,259
- Provisions +€14,000
new in 2025: €14,000
- Financial charges -€13,433
down €13,433 (-19.9%), from €67,585 to €54,152
- Other operating charges +€4,539
up €4,539 (+117.6%), from €3,858 to €8,397
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 | €1,665,935 | €2,013,884 | +€347,949 | +20.9% |
| Fixed assets | 21/28 | €0 | €234,599 | +€234,599 | |
| Tangible fixed assets | 22/27 | €0 | €234,599 | +€234,599 | |
| Land and buildings | 22 | - | €231,158 | +€231,158 | |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €0 | €3,441 | +€3,441 | |
| Current assets | 29/58 | €1,665,935 | €1,779,284 | +€113,350 | +6.8% |
| Stocks and contracts in progress | 3 | €1,038,007 | €744,188 | -€293,818 | -28.3% |
| Stocks | 30/36 | €1,038,007 | €744,188 | -€293,818 | -28.3% |
| Amounts receivable within one year | 40/41 | €29,178 | €43,229 | +€14,051 | +48.2% |
| Trade receivables | 40 | €4,661 | €26,750 | +€22,089 | +473.9% |
| Other amounts receivable | 41 | €24,517 | €16,479 | -€8,038 | -32.8% |
| Cash at bank and in hand | 54/58 | €596,409 | €988,293 | +€391,884 | +65.7% |
| Deferred charges and accrued income | 490/1 | €2,341 | €3,574 | +€1,233 | +52.7% |
| Total equity and liabilities | 10/49 | €1,665,935 | €2,013,884 | +€347,949 | +20.9% |
| Equity | 10/15 | €691,139 | €914,732 | +€223,593 | +32.4% |
| Contributions | 10/11 | €2,400 | €2,400 | = | 0.0% |
| Reserves | 13 | €688,739 | €910,000 | +€221,261 | +32.1% |
| Distributable reserves | 133 | €688,739 | €910,000 | +€221,261 | +32.1% |
| Profit (loss) carried forward | 14 | - | €2,332 | +€2,332 | |
| Provisions and deferred taxes | 16 | - | €14,000 | +€14,000 | |
| Provisions for liabilities and charges | 160/5 | - | €14,000 | +€14,000 | |
| Other liabilities and charges | 164/5 | - | €14,000 | +€14,000 | |
| Amounts payable | 17/49 | €974,795 | €1,085,151 | +€110,356 | +11.3% |
| Amounts payable after more than one year | 17 | €526,000 | €859,000 | +€333,000 | +63.3% |
| Financial debts | 170/4 | €526,000 | €859,000 | +€333,000 | +63.3% |
| Amounts payable within one year | 42/48 | €432,079 | €195,116 | -€236,964 | -54.8% |
| Current portion of amounts payable after more than one year | 42 | €360,000 | €118,000 | -€242,000 | -67.2% |
| Trade debts | 44 | €8,518 | €3,079 | -€5,439 | -63.9% |
| Suppliers | 440/4 | €8,518 | €3,079 | -€5,439 | -63.9% |
| Taxes, remuneration and social security | 45 | €45,517 | €38,880 | -€6,636 | -14.6% |
| Taxes | 450/3 | €45,517 | €38,880 | -€6,636 | -14.6% |
| Other amounts payable | 47/48 | €18,045 | €35,156 | +€17,112 | +94.8% |
| Accrued charges and deferred income | 492/3 | €16,716 | €31,036 | +€14,320 | +85.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,648 | €6,601 | +€2,953 | +80.9% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €14,000 | +€14,000 | |
| Other operating charges | 640/8 | €3,858 | €8,397 | +€4,539 | +117.6% |
| Gross operating margin | 9900 | €300,094 | €409,951 | +€109,856 | +36.6% |
| Operating profit (loss) | 9901 | €292,588 | €380,953 | +€88,364 | +30.2% |
| Financial income | 75/76B | €84 | €51 | -€32 | -38.7% |
| Recurring financial income | 75 | €84 | €51 | -€32 | -38.7% |
| Financial charges | 65/66B | €67,585 | €54,152 | -€13,433 | -19.9% |
| Recurring financial charges | 65 | €67,585 | €54,152 | -€13,433 | -19.9% |
| Profit (loss) for the period before taxes | 9903 | €225,087 | €326,852 | +€101,765 | +45.2% |
| Income taxes | 67/77 | €58,860 | €103,259 | +€44,400 | +75.4% |
| Profit (loss) for the period | 9904 | €166,227 | €223,593 | +€57,366 | +34.5% |
| Profit (loss) for the period to be appropriated | 9905 | €166,227 | €223,593 | +€57,366 | +34.5% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.