TRCO: 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.
TRCO
Largest movements
- Financial fixed assets -€150,000
down €150,000 (-53.1%), from €282,235 to €132,235
- Receivables within one year -€104,663
down €104,663 (-5.3%), from €2.0m to €1.9m
of which Other amounts receivable: -€99,859
- Reserves -€200,000
down €200,000 (-10.5%), from €1.9m to €1.7m
of which Distributable reserves: -€200,000
- Profit (loss) carried forward -€57,742
down €57,742 (-6.9%), from €831,174 to €773,432
- Debts after one year -€50,970
down €50,970 (-11.0%), from €463,545 to €412,575
- Gross operating margin -€195,961
down €195,961, from €190,394 to -€5,567
- Taxes -€30,318
down €30,318 (-65.5%), from €46,259 to €15,941
- Financial income -€26,985
down €26,985 (-100.0%), from €26,991 to €6
- Depreciation -€23,580
down €23,580 (-52.2%), from €45,216 to €21,635
- Staff costs -€18,044
down €18,044 (-100.0%), from €18,044 to €0
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,102,814 | €3,787,761 | -€315,053 | -7.7% |
| Fixed assets | 21/28 | €1,143,035 | €971,400 | -€171,635 | -15.0% |
| Tangible fixed assets | 22/27 | €860,800 | €839,165 | -€21,635 | -2.5% |
| Land and buildings | 22 | €748,001 | €729,034 | -€18,967 | -2.5% |
| Plant, machinery and equipment | 23 | €55,167 | €54,103 | -€1,065 | -1.9% |
| Furniture and vehicles | 24 | €57,632 | €56,029 | -€1,603 | -2.8% |
| Financial fixed assets | 28 | €282,235 | €132,235 | -€150,000 | -53.1% |
| Current assets | 29/58 | €2,959,779 | €2,816,361 | -€143,418 | -4.8% |
| Amounts receivable within one year | 40/41 | €1,969,188 | €1,864,526 | -€104,663 | -5.3% |
| Trade receivables | 40 | €34,537 | €29,734 | -€4,803 | -13.9% |
| Other amounts receivable | 41 | €1,934,651 | €1,834,792 | -€99,859 | -5.2% |
| Current investments | 50/53 | €150,557 | €150,557 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €839,254 | €801,278 | -€37,975 | -4.5% |
| Deferred charges and accrued income | 490/1 | €780 | €0 | -€780 | -100.0% |
| Total equity and liabilities | 10/49 | €4,102,814 | €3,787,761 | -€315,053 | -7.7% |
| Equity | 10/15 | €2,768,463 | €2,510,721 | -€257,742 | -9.3% |
| Contributions | 10/11 | €37,184 | €37,184 | = | 0.0% |
| Reserves | 13 | €1,900,105 | €1,700,105 | -€200,000 | -10.5% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €1,900,105 | €1,700,105 | -€200,000 | -10.5% |
| Profit (loss) carried forward | 14 | €831,174 | €773,432 | -€57,742 | -6.9% |
| Amounts payable | 17/49 | €1,334,351 | €1,277,040 | -€57,311 | -4.3% |
| Amounts payable after more than one year | 17 | €463,545 | €412,575 | -€50,970 | -11.0% |
| Financial debts | 170/4 | €463,545 | €412,575 | -€50,970 | -11.0% |
| Amounts payable within one year | 42/48 | €870,807 | €864,465 | -€6,342 | -0.7% |
| Current portion of amounts payable after more than one year | 42 | €50,970 | €50,970 | = | 0.0% |
| Trade debts | 44 | €747 | €1,074 | +€326 | +43.7% |
| Suppliers | 440/4 | €747 | €1,074 | +€326 | +43.7% |
| Taxes, remuneration and social security | 45 | €10,593 | €26,664 | +€16,071 | +151.7% |
| Taxes | 450/3 | €10,593 | €26,664 | +€16,071 | +151.7% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €808,497 | €785,758 | -€22,739 | -2.8% |
| Non-recurring operating income | 76A | €11,099 | €0 | -€11,099 | -100.0% |
| Remuneration, social security and pensions | 62 | €18,044 | €0 | -€18,044 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,216 | €21,635 | -€23,580 | -52.2% |
| Other operating charges | 640/8 | €11,022 | €2,162 | -€8,860 | -80.4% |
| Gross operating margin | 9900 | €190,394 | -€5,567 | -€195,961 | |
| Operating profit (loss) | 9901 | €116,112 | -€29,365 | -€145,477 | |
| Financial income | 75/76B | €26,991 | €6 | -€26,985 | -100.0% |
| Recurring financial income | 75 | €26,991 | €6 | -€26,985 | -100.0% |
| Financial charges | 65/66B | €3,183 | €12,443 | +€9,259 | +290.9% |
| Recurring financial charges | 65 | €3,183 | €12,443 | +€9,259 | +290.9% |
| Profit (loss) for the period before taxes | 9903 | €139,920 | -€41,802 | -€181,721 | |
| Income taxes | 67/77 | €46,259 | €15,941 | -€30,318 | -65.5% |
| Profit (loss) for the period | 9904 | €93,661 | -€57,742 | -€151,403 | |
| Profit (loss) for the period to be appropriated | 9905 | €93,661 | -€57,742 | -€151,403 |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.