TRB works: 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 works
Largest movements
- Receivables within one year +€16,526
up €16,526 (+439%), from €3,767 to €20,294
of which Trade receivables: +€14,772
- Cash -€2,297
down €2,297 (-86.4%), from €2,660 to €363
mainly Receivables within one year (-€16,526)
- Trade debts +€6,382
up €6,382 (+418%), from €1,528 to €7,910
- Advances received +€4,565
new in 2025: €4,565
- Reserves +€2,118
up €2,118 (+70.4%), from €3,009 to €5,127
- Tax, wage and social debts +€1,164
up €1,164 (+299%), from €390 to €1,554
- Gross operating margin -€1,197
down €1,197 (-23.7%), from €5,051 to €3,854
- Depreciation -€983
no longer reported in 2025 (was €983)
- Financial charges +€341
up €341 (+844%), from €40 to €381
- Other operating charges +€287
up €287 (+108%), from €266 to €553
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 | €6,427 | €20,656 | +€14,229 | +221% |
| Current assets | 29/58 | €6,427 | €20,656 | +€14,229 | +221% |
| Amounts receivable within one year | 40/41 | €3,767 | €20,294 | +€16,526 | +439% |
| Trade receivables | 40 | €1,475 | €16,247 | +€14,772 | +1,001% |
| Other amounts receivable | 41 | €2,292 | €4,046 | +€1,754 | +76.5% |
| Cash at bank and in hand | 54/58 | €2,660 | €363 | -€2,297 | -86.4% |
| Total equity and liabilities | 10/49 | €6,427 | €20,656 | +€14,229 | +221% |
| Equity | 10/15 | €4,509 | €6,627 | +€2,118 | +47.0% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Capital | 10 | €1,500 | €1,500 | = | 0.0% |
| Issued capital | 100 | €1,500 | €1,500 | = | 0.0% |
| Reserves | 13 | €3,009 | €5,127 | +€2,118 | +70.4% |
| Distributable reserves | 133 | €3,009 | €5,127 | +€2,118 | +70.4% |
| Amounts payable | 17/49 | €1,918 | €14,029 | +€12,111 | +631% |
| Amounts payable within one year | 42/48 | €1,918 | €14,029 | +€12,111 | +631% |
| Trade debts | 44 | €1,528 | €7,910 | +€6,382 | +418% |
| Suppliers | 440/4 | €1,528 | €7,910 | +€6,382 | +418% |
| Advances received on contracts in progress | 46 | - | €4,565 | +€4,565 | |
| Taxes, remuneration and social security | 45 | €390 | €1,554 | +€1,164 | +299% |
| Taxes | 450/3 | €390 | €1,554 | +€1,164 | +299% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €983 | - | -€983 | |
| Other operating charges | 640/8 | €266 | €553 | +€287 | +108% |
| Gross operating margin | 9900 | €5,051 | €3,854 | -€1,197 | -23.7% |
| Operating profit (loss) | 9901 | €3,802 | €3,301 | -€501 | -13.2% |
| Financial charges | 65/66B | €40 | €381 | +€341 | +844% |
| Recurring financial charges | 65 | €40 | €381 | +€341 | +844% |
| Profit (loss) for the period before taxes | 9903 | €3,761 | €2,920 | -€842 | -22.4% |
| Income taxes | 67/77 | €752 | €802 | +€49 | +6.5% |
| Profit (loss) for the period | 9904 | €3,009 | €2,118 | -€891 | -29.6% |
| Profit (loss) for the period to be appropriated | 9905 | €3,009 | €2,118 | -€891 | -29.6% |
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 16 October 2026 via checked.be.