TREATEL: what changed
Two fiscal 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.
TREATEL
Largest movements
- Current investments +€481,935
up €481,935 (+139.7%), from €344,964 to €826,899
- Cash -€220,158
down €220,158 (-59.9%), from €367,826 to €147,668
mainly Current investments (-€481,935) and Receivables after one year (-€104,715)
- Tangible fixed assets -€105,723
down €105,723 (-10.0%), from €1.1m to €947,631
of which Land and buildings: -€102,616
- Receivables after one year +€104,715
up €104,715 (+31.7%), from €330,394 to €435,109
- Stocks and contracts -€65,232
down €65,232 (-18.7%), from €349,528 to €284,296
- Reserves +€174,957
up €174,957 (+18.5%), from €946,050 to €1.1m
of which Distributable reserves: +€179,154
- Other debts +€85,970
up €85,970 (+9.1%), from €941,905 to €1.0m
- Financial income +€60,631
up €60,631 (+125.6%), from €48,279 to €108,910
- Taxes +€30,949
up €30,949 (+36.8%), from €84,061 to €115,009
- Gross operating margin +€14,992
up €14,992 (+5.1%), from €291,450 to €306,442
- Financial charges -€11,954
down €11,954 (-52.2%), from €22,897 to €10,943
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 | €2,607,203 | €2,809,345 | +€202,142 | +7.8% |
| Fixed assets | 21/28 | €1,053,593 | €947,871 | -€105,723 | -10.0% |
| Tangible fixed assets | 22/27 | €1,053,353 | €947,631 | -€105,723 | -10.0% |
| Land and buildings | 22 | €1,042,844 | €940,228 | -€102,616 | -9.8% |
| Plant, machinery and equipment | 23 | €3,409 | €2,461 | -€948 | -27.8% |
| Furniture and vehicles | 24 | €7,100 | €4,941 | -€2,159 | -30.4% |
| Financial fixed assets | 28 | €240 | €240 | = | 0.0% |
| Current assets | 29/58 | €1,553,610 | €1,861,474 | +€307,864 | +19.8% |
| Amounts receivable after more than one year | 29 | €330,394 | €435,109 | +€104,715 | +31.7% |
| Other amounts receivable | 291 | €330,394 | €435,109 | +€104,715 | +31.7% |
| Stocks and contracts in progress | 3 | €349,528 | €284,296 | -€65,232 | -18.7% |
| Stocks | 30/36 | €349,528 | €284,296 | -€65,232 | -18.7% |
| Amounts receivable within one year | 40/41 | €118,771 | €127,011 | +€8,240 | +6.9% |
| Trade receivables | 40 | €66,595 | €85,610 | +€19,015 | +28.6% |
| Other amounts receivable | 41 | €52,176 | €41,400 | -€10,776 | -20.7% |
| Current investments | 50/53 | €344,964 | €826,899 | +€481,935 | +139.7% |
| Cash at bank and in hand | 54/58 | €367,826 | €147,668 | -€220,158 | -59.9% |
| Deferred charges and accrued income | 490/1 | €42,127 | €40,491 | -€1,636 | -3.9% |
| Total equity and liabilities | 10/49 | €2,607,203 | €2,809,345 | +€202,142 | +7.8% |
| Equity | 10/15 | €1,495,278 | €1,670,235 | +€174,957 | +11.7% |
| Contributions | 10/11 | €425,000 | €425,000 | = | 0.0% |
| Reserves | 13 | €946,050 | €1,121,007 | +€174,957 | +18.5% |
| Tax-exempt reserves | 132 | €111,060 | €106,863 | -€4,197 | -3.8% |
| Distributable reserves | 133 | €834,990 | €1,014,144 | +€179,154 | +21.5% |
| Profit (loss) carried forward | 14 | €124,228 | €124,228 | +€0 | 0.0% |
| Provisions and deferred taxes | 16 | €37,020 | €35,621 | -€1,399 | -3.8% |
| Deferred taxes | 168 | €37,020 | €35,621 | -€1,399 | -3.8% |
| Amounts payable | 17/49 | €1,074,905 | €1,103,489 | +€28,584 | +2.7% |
| Amounts payable after more than one year | 17 | €56,833 | €34,833 | -€22,000 | -38.7% |
| Financial debts | 170/4 | €56,833 | €34,833 | -€22,000 | -38.7% |
| Amounts payable within one year | 42/48 | €1,001,287 | €1,067,830 | +€66,543 | +6.6% |
| Current portion of amounts payable after more than one year | 42 | €22,000 | €22,000 | = | 0.0% |
| Trade debts | 44 | €4,696 | €5,715 | +€1,019 | +21.7% |
| Suppliers | 440/4 | €4,696 | €5,715 | +€1,019 | +21.7% |
| Taxes, remuneration and social security | 45 | €32,686 | €12,240 | -€20,446 | -62.6% |
| Taxes | 450/3 | €29,686 | €12,240 | -€17,446 | -58.8% |
| Remuneration and social security | 454/9 | €3,000 | €0 | -€3,000 | -100.0% |
| Other amounts payable | 47/48 | €941,905 | €1,027,874 | +€85,970 | +9.1% |
| Accrued charges and deferred income | 492/3 | €16,786 | €826 | -€15,959 | -95.1% |
| Non-recurring operating income | 76A | - | €8,200 | +€8,200 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,243 | €36,423 | -€1,820 | -4.8% |
| Other operating charges | 640/8 | €4,864 | €4,419 | -€445 | -9.2% |
| Gross operating margin | 9900 | €291,450 | €306,442 | +€14,992 | +5.1% |
| Operating profit (loss) | 9901 | €248,343 | €265,600 | +€17,257 | +6.9% |
| Financial income | 75/76B | €48,279 | €108,910 | +€60,631 | +125.6% |
| Recurring financial income | 75 | €48,279 | €108,910 | +€60,631 | +125.6% |
| Financial charges | 65/66B | €22,897 | €10,943 | -€11,954 | -52.2% |
| Recurring financial charges | 65 | €22,897 | €10,943 | -€11,954 | -52.2% |
| Profit (loss) for the period before taxes | 9903 | €273,725 | €363,567 | +€89,842 | +32.8% |
| Transfer from deferred taxes | 780 | €1,392 | €1,399 | +€7 | +0.5% |
| Income taxes | 67/77 | €84,061 | €115,009 | +€30,949 | +36.8% |
| Profit (loss) for the period | 9904 | €191,056 | €249,957 | +€58,900 | +30.8% |
| Transfer from tax-exempt reserves | 789 | €4,176 | €4,197 | +€22 | +0.5% |
| Profit (loss) for the period to be appropriated | 9905 | €195,232 | €254,154 | +€58,922 | +30.2% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.