TRE Commerce: 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.
TRE Commerce
Largest movements
- Cash -€32,591
down €32,591 (-29.9%), from €108,964 to €76,373
mainly Other debts (-€44,005) and Contributions, distributions and other (-€21,766)
- Tangible fixed assets -€9,127
down €9,127 (-18.5%), from €49,443 to €40,317
of which Land and buildings: -€5,134
- Receivables within one year -€2,617
down €2,617 (-8.7%), from €30,021 to €27,405
of which Trade receivables: -€1,419
- Other debts -€44,005
down €44,005 (-53.5%), from €82,284 to €38,279
- Trade debts +€10,058
up €10,058 (+33.5%), from €29,991 to €40,049
- Debts after one year -€7,878
down €7,878 (-28.6%), from €27,575 to €19,697
- Tax, wage and social debts +€2,827
up €2,827 (+30.4%), from €9,299 to €12,125
of which Remuneration and social security: +€2,293
- Current portion of long-term debt -€2,702
down €2,702 (-25.5%), from €10,580 to €7,878
- Staff costs +€6,136
up €6,136 (+19.6%), from €31,373 to €37,509
- Gross operating margin -€2,573
down €2,573 (-2.8%), from €92,287 to €89,714
- Financial charges -€2,448
down €2,448 (-15.8%), from €15,480 to €13,032
- Taxes -€1,362
down €1,362 (-15.4%), from €8,835 to €7,473
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 | €232,764 | €190,145 | -€42,619 | -18.3% |
| Fixed assets | 21/28 | €53,235 | €44,108 | -€9,127 | -17.1% |
| Tangible fixed assets | 22/27 | €49,443 | €40,317 | -€9,127 | -18.5% |
| Land and buildings | 22 | €41,071 | €35,937 | -€5,134 | -12.5% |
| Plant, machinery and equipment | 23 | €1,707 | €944 | -€762 | -44.7% |
| Furniture and vehicles | 24 | €1,451 | €1,104 | -€347 | -23.9% |
| Other tangible fixed assets | 26 | €5,215 | €2,331 | -€2,884 | -55.3% |
| Financial fixed assets | 28 | €3,791 | €3,791 | = | 0.0% |
| Current assets | 29/58 | €179,529 | €146,037 | -€33,492 | -18.7% |
| Stocks and contracts in progress | 3 | €22,118 | €22,761 | +€643 | +2.9% |
| Stocks | 30/36 | €22,118 | €22,761 | +€643 | +2.9% |
| Amounts receivable within one year | 40/41 | €30,021 | €27,405 | -€2,617 | -8.7% |
| Trade receivables | 40 | €26,402 | €24,983 | -€1,419 | -5.4% |
| Other amounts receivable | 41 | €3,619 | €2,421 | -€1,198 | -33.1% |
| Cash at bank and in hand | 54/58 | €108,964 | €76,373 | -€32,591 | -29.9% |
| Deferred charges and accrued income | 490/1 | €18,426 | €19,498 | +€1,072 | +5.8% |
| Total equity and liabilities | 10/49 | €232,764 | €190,145 | -€42,619 | -18.3% |
| Equity | 10/15 | €72,118 | €72,118 | = | 0.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €53,518 | €53,518 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €53,518 | €53,518 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €160,646 | €118,027 | -€42,619 | -26.5% |
| Amounts payable after more than one year | 17 | €27,575 | €19,697 | -€7,878 | -28.6% |
| Financial debts | 170/4 | €27,575 | €19,697 | -€7,878 | -28.6% |
| Amounts payable within one year | 42/48 | €132,153 | €98,330 | -€33,823 | -25.6% |
| Current portion of amounts payable after more than one year | 42 | €10,580 | €7,878 | -€2,702 | -25.5% |
| Trade debts | 44 | €29,991 | €40,049 | +€10,058 | +33.5% |
| Suppliers | 440/4 | €29,991 | €40,049 | +€10,058 | +33.5% |
| Taxes, remuneration and social security | 45 | €9,299 | €12,125 | +€2,827 | +30.4% |
| Taxes | 450/3 | €4,125 | €4,659 | +€534 | +12.9% |
| Remuneration and social security | 454/9 | €5,173 | €7,466 | +€2,293 | +44.3% |
| Other amounts payable | 47/48 | €82,284 | €38,279 | -€44,005 | -53.5% |
| Accrued charges and deferred income | 492/3 | €918 | €0 | -€918 | -100% |
| Non-recurring operating income | 76A | €1,000 | €1,000 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €31,373 | €37,509 | +€6,136 | +19.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,063 | €9,127 | +€64 | +0.7% |
| Other operating charges | 640/8 | €1,608 | €1,218 | -€390 | -24.3% |
| Gross operating margin | 9900 | €92,287 | €89,714 | -€2,573 | -2.8% |
| Operating profit (loss) | 9901 | €50,242 | €41,860 | -€8,383 | -16.7% |
| Financial income | 75/76B | €429 | €412 | -€17 | -4.0% |
| Recurring financial income | 75 | €429 | €412 | -€17 | -4.0% |
| Financial charges | 65/66B | €15,480 | €13,032 | -€2,448 | -15.8% |
| Recurring financial charges | 65 | €15,480 | €13,032 | -€2,448 | -15.8% |
| Profit (loss) for the period before taxes | 9903 | €35,191 | €29,239 | -€5,952 | -16.9% |
| Income taxes | 67/77 | €8,835 | €7,473 | -€1,362 | -15.4% |
| Profit (loss) for the period | 9904 | €26,356 | €21,766 | -€4,589 | -17.4% |
| Profit (loss) for the period to be appropriated | 9905 | €26,356 | €21,766 | -€4,589 | -17.4% |
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 14 October 2026 via checked.be.