TRB BELGIQUE: 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 BELGIQUE
Largest movements
- Receivables within one year -€121,653
down €121,653 (-59.1%), from €205,919 to €84,266
of which Trade receivables: -€123,862
- Deferred charges and accrued income -€40,882
down €40,882 (-65.6%), from €62,305 to €21,423
- Stocks and contracts +€20,445
up €20,445 (+8.1%), from €251,077 to €271,522
- Cash +€18,914
up €18,914 (+17.7%), from €106,876 to €125,791
mainly Receivables within one year (+€121,653) and Deferred charges and accrued income (+€40,882)
- Tangible fixed assets -€14,822
down €14,822 (-34.5%), from €42,975 to €28,154
of which Other tangible fixed assets: -€11,053
- Trade debts -€181,415
down €181,415 (-52.0%), from €348,744 to €167,329
- Profit (loss) carried forward +€23,392
up €23,392 (+6.8%), from -€343,254 to -€319,862
- Tax, wage and social debts +€9,796
up €9,796 (+31.8%), from €30,849 to €40,645
of which Remuneration and social security: +€10,646
- Depreciation -€39,966
down €39,966 (-64.9%), from €61,540 to €21,574
- Financial charges +€20,373
up €20,373 (+124%), from €16,403 to €36,775
- Gross operating margin -€13,440
down €13,440 (-4.7%), from €286,227 to €272,787
- Write-downs -€10,990
down €10,990, from €0 to -€10,990
- Other operating charges +€10,439
up €10,439 (+115%), from €9,046 to €19,485
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 | €757,539 | €613,217 | -€144,322 | -19.1% |
| Fixed assets | 21/28 | €131,361 | €110,215 | -€21,146 | -16.1% |
| Intangible fixed assets | 21 | €6,753 | €0 | -€6,753 | -100% |
| Tangible fixed assets | 22/27 | €42,975 | €28,154 | -€14,822 | -34.5% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €17,356 | €13,588 | -€3,768 | -21.7% |
| Other tangible fixed assets | 26 | €25,619 | €14,566 | -€11,053 | -43.1% |
| Financial fixed assets | 28 | €81,633 | €82,061 | +€429 | +0.5% |
| Current assets | 29/58 | €626,178 | €503,002 | -€123,176 | -19.7% |
| Stocks and contracts in progress | 3 | €251,077 | €271,522 | +€20,445 | +8.1% |
| Stocks | 30/36 | €251,077 | €271,522 | +€20,445 | +8.1% |
| Amounts receivable within one year | 40/41 | €205,919 | €84,266 | -€121,653 | -59.1% |
| Trade receivables | 40 | €203,214 | €79,353 | -€123,862 | -61.0% |
| Other amounts receivable | 41 | €2,705 | €4,914 | +€2,209 | +81.6% |
| Cash at bank and in hand | 54/58 | €106,876 | €125,791 | +€18,914 | +17.7% |
| Deferred charges and accrued income | 490/1 | €62,305 | €21,423 | -€40,882 | -65.6% |
| Total equity and liabilities | 10/49 | €757,539 | €613,217 | -€144,322 | -19.1% |
| Equity | 10/15 | €206,746 | €230,138 | +€23,392 | +11.3% |
| Contributions | 10/11 | €550,000 | €550,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€343,254 | -€319,862 | +€23,392 | +6.8% |
| Amounts payable | 17/49 | €550,793 | €383,079 | -€167,714 | -30.4% |
| Amounts payable after more than one year | 17 | €150,000 | €150,000 | = | 0.0% |
| Other amounts payable | 178/9 | €150,000 | €150,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €380,738 | €208,524 | -€172,214 | -45.2% |
| Trade debts | 44 | €348,744 | €167,329 | -€181,415 | -52.0% |
| Suppliers | 440/4 | €348,744 | €167,329 | -€181,415 | -52.0% |
| Advances received on contracts in progress | 46 | €1,145 | €550 | -€595 | -52.0% |
| Taxes, remuneration and social security | 45 | €30,849 | €40,645 | +€9,796 | +31.8% |
| Taxes | 450/3 | €16,013 | €15,163 | -€850 | -5.3% |
| Remuneration and social security | 454/9 | €14,836 | €25,481 | +€10,646 | +71.8% |
| Accrued charges and deferred income | 492/3 | €20,055 | €24,555 | +€4,500 | +22.4% |
| Remuneration, social security and pensions | 62 | €181,301 | €180,115 | -€1,186 | -0.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €61,540 | €21,574 | -€39,966 | -64.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | -€10,990 | -€10,990 | |
| Other operating charges | 640/8 | €9,046 | €19,485 | +€10,439 | +115% |
| Gross operating margin | 9900 | €286,227 | €272,787 | -€13,440 | -4.7% |
| Operating profit (loss) | 9901 | €34,340 | €62,603 | +€28,263 | +82.3% |
| Financial income | 75/76B | €225 | €659 | +€435 | +194% |
| Recurring financial income | 75 | €225 | €659 | +€435 | +194% |
| Financial charges | 65/66B | €16,403 | €36,775 | +€20,373 | +124% |
| Recurring financial charges | 65 | €16,403 | €36,775 | +€20,373 | +124% |
| Profit (loss) for the period before taxes | 9903 | €18,161 | €26,487 | +€8,325 | +45.8% |
| Income taxes | 67/77 | - | €3,094 | +€3,094 | |
| Profit (loss) for the period | 9904 | €18,161 | €23,392 | +€5,231 | +28.8% |
| Profit (loss) for the period to be appropriated | 9905 | €18,161 | €23,392 | +€5,231 | +28.8% |
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 30 October 2026 via checked.be.