TRC - MANAGEMENT: 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.
TRC - MANAGEMENT
Largest movements
- Deferred charges and accrued income +€5,000
up €5,000 (+22.7%), from €22,000 to €27,000
- Receivables within one year -€2,855
down €2,855 (-75.9%), from €3,763 to €908
of which Trade receivables: -€2,598
- Cash +€1,486
up €1,486 (+99.5%), from €1,494 to €2,980
mainly Debts after one year (+€29,244) and Receivables within one year (+€2,855)
- Tangible fixed assets -€375
down €375 (-41.6%), from €903 to €528
of which Plant, machinery and equipment: -€284
- Debts after one year +€29,244
new in 2025: €29,244
- Other debts -€24,151
no longer reported in 2025 (was €24,151)
- Profit (loss) carried forward -€2,465
down €2,465 (-4.0%), from -€61,323 to -€63,788
- Trade debts +€595
up €595 (+413.6%), from €144 to €739
- Depreciation -€2,631
down €2,631 (-87.5%), from €3,006 to €375
- Gross operating margin -€2,385
down €2,385, from €2,059 to -€326
- Other operating charges -€83
down €83 (-4.6%), from €1,793 to €1,710
- Financial charges +€51
up €51 (+1700.0%), from €3 to €54
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 | €28,795 | €32,051 | +€3,256 | +11.3% |
| Fixed assets | 21/28 | €1,539 | €1,163 | -€375 | -24.4% |
| Tangible fixed assets | 22/27 | €903 | €528 | -€375 | -41.6% |
| Plant, machinery and equipment | 23 | €713 | €429 | -€284 | -39.8% |
| Furniture and vehicles | 24 | €191 | €99 | -€91 | -48.0% |
| Financial fixed assets | 28 | €636 | €636 | = | 0.0% |
| Current assets | 29/58 | €27,256 | €30,888 | +€3,631 | +13.3% |
| Amounts receivable within one year | 40/41 | €3,763 | €908 | -€2,855 | -75.9% |
| Trade receivables | 40 | €3,506 | €908 | -€2,598 | -74.1% |
| Other amounts receivable | 41 | €257 | €0 | -€257 | -100.0% |
| Cash at bank and in hand | 54/58 | €1,494 | €2,980 | +€1,486 | +99.5% |
| Deferred charges and accrued income | 490/1 | €22,000 | €27,000 | +€5,000 | +22.7% |
| Total equity and liabilities | 10/49 | €28,795 | €32,051 | +€3,256 | +11.3% |
| Equity | 10/15 | €4,500 | €2,035 | -€2,465 | -54.8% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €4,324 | €4,324 | = | 0.0% |
| Non-distributable reserves | 130/1 | €4,324 | €4,324 | = | 0.0% |
| Legal reserve | 130 | €4,324 | €4,324 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€61,323 | -€63,788 | -€2,465 | -4.0% |
| Amounts payable | 17/49 | €24,295 | €30,016 | +€5,721 | +23.5% |
| Amounts payable after more than one year | 17 | - | €29,244 | +€29,244 | |
| Other amounts payable | 178/9 | - | €29,244 | +€29,244 | |
| Amounts payable within one year | 42/48 | €24,295 | €771 | -€23,523 | -96.8% |
| Trade debts | 44 | €144 | €739 | +€595 | +413.6% |
| Suppliers | 440/4 | €144 | €739 | +€595 | +413.6% |
| Taxes, remuneration and social security | 45 | - | €32 | +€32 | |
| Taxes | 450/3 | - | €32 | +€32 | |
| Other amounts payable | 47/48 | €24,151 | - | -€24,151 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,006 | €375 | -€2,631 | -87.5% |
| Other operating charges | 640/8 | €1,793 | €1,710 | -€83 | -4.6% |
| Gross operating margin | 9900 | €2,059 | -€326 | -€2,385 | |
| Operating profit (loss) | 9901 | -€2,741 | -€2,411 | +€329 | +12.0% |
| Financial charges | 65/66B | €3 | €54 | +€51 | +1700.0% |
| Recurring financial charges | 65 | €3 | €54 | +€51 | +1700.0% |
| Profit (loss) for the period before taxes | 9903 | -€2,744 | -€2,465 | +€278 | +10.1% |
| Profit (loss) for the period | 9904 | -€2,744 | -€2,465 | +€278 | +10.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,744 | -€2,465 | +€278 | +10.1% |
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 12 October 2026 via checked.be.