TREBOG: 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.
TREBOG
Largest movements
- Receivables within one year -€197,812
down €197,812 (-88.3%), from €223,918 to €26,106
of which Trade receivables: -€199,274
- Cash +€80,248
up €80,248 (+175.8%), from €45,635 to €125,883
mainly Net result for the year (+€234,711) and Receivables within one year (+€197,812)
- Deferred charges and accrued income +€78,995
up €78,995 (+4002.4%), from €1,974 to €80,969
- Tangible fixed assets +€13,766
up €13,766 (+699.1%), from €1,969 to €15,735
- Profit (loss) carried forward +€74,711
up €74,711 (+1337.2%), from €5,587 to €80,298
- Other debts -€71,329
down €71,329 (-24.7%), from €289,105 to €217,776
- Debts after one year -€22,186
no longer reported in 2025 (was €22,186)
- Current portion of long-term debt -€12,823
no longer reported in 2025 (was €12,823)
- Financial income -€23,593
down €23,593 (-11.6%), from €203,593 to €180,000
- Gross operating margin +€14,683
up €14,683 (+11.9%), from €123,456 to €138,139
- Financial charges +€10,250
up €10,250 (+30.5%), from €33,656 to €43,906
- Taxes +€8,709
up €8,709 (+34.4%), from €25,328 to €34,037
- Depreciation +€3,812
up €3,812 (+284.5%), from €1,340 to €5,152
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 | €476,368 | €448,693 | -€27,675 | -5.8% |
| Fixed assets | 21/28 | €204,841 | €215,735 | +€10,894 | +5.3% |
| Tangible fixed assets | 22/27 | €1,969 | €15,735 | +€13,766 | +699.1% |
| Furniture and vehicles | 24 | €1,969 | €15,735 | +€13,766 | +699.1% |
| Financial fixed assets | 28 | €202,871 | €200,000 | -€2,871 | -1.4% |
| Current assets | 29/58 | €271,528 | €232,958 | -€38,569 | -14.2% |
| Amounts receivable within one year | 40/41 | €223,918 | €26,106 | -€197,812 | -88.3% |
| Trade receivables | 40 | €221,417 | €22,143 | -€199,274 | -90.0% |
| Other amounts receivable | 41 | €2,501 | €3,963 | +€1,462 | +58.4% |
| Cash at bank and in hand | 54/58 | €45,635 | €125,883 | +€80,248 | +175.8% |
| Deferred charges and accrued income | 490/1 | €1,974 | €80,969 | +€78,995 | +4002.4% |
| Total equity and liabilities | 10/49 | €476,368 | €448,693 | -€27,675 | -5.8% |
| Equity | 10/15 | €140,295 | €215,006 | +€74,711 | +53.3% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Contributions outside capital | 11 | €5,000 | €5,000 | = | 0.0% |
| Other | 1109/19 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €129,708 | €129,708 | = | 0.0% |
| Distributable reserves | 133 | €129,708 | €129,708 | = | 0.0% |
| Profit (loss) carried forward | 14 | €5,587 | €80,298 | +€74,711 | +1337.2% |
| Amounts payable | 17/49 | €336,073 | €233,687 | -€102,386 | -30.5% |
| Amounts payable after more than one year | 17 | €22,186 | - | -€22,186 | |
| Financial debts | 170/4 | €22,186 | - | -€22,186 | |
| Amounts payable within one year | 42/48 | €313,887 | €233,687 | -€80,200 | -25.6% |
| Current portion of amounts payable after more than one year | 42 | €12,823 | - | -€12,823 | |
| Trade debts | 44 | €2,346 | €2,164 | -€182 | -7.7% |
| Suppliers | 440/4 | €2,346 | €2,164 | -€182 | -7.7% |
| Taxes, remuneration and social security | 45 | €9,613 | €13,747 | +€4,134 | +43.0% |
| Taxes | 450/3 | €9,613 | €13,747 | +€4,134 | +43.0% |
| Other amounts payable | 47/48 | €289,105 | €217,776 | -€71,329 | -24.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,340 | €5,152 | +€3,812 | +284.5% |
| Other operating charges | 640/8 | €1,138 | €334 | -€805 | -70.7% |
| Gross operating margin | 9900 | €123,456 | €138,139 | +€14,683 | +11.9% |
| Operating profit (loss) | 9901 | €120,978 | €132,653 | +€11,675 | +9.7% |
| Financial income | 75/76B | €203,593 | €180,000 | -€23,593 | -11.6% |
| Recurring financial income | 75 | €203,593 | €180,000 | -€23,593 | -11.6% |
| Financial charges | 65/66B | €33,656 | €43,906 | +€10,250 | +30.5% |
| Recurring financial charges | 65 | €33,656 | €43,906 | +€10,250 | +30.5% |
| Profit (loss) for the period before taxes | 9903 | €290,915 | €268,748 | -€22,167 | -7.6% |
| Income taxes | 67/77 | €25,328 | €34,037 | +€8,709 | +34.4% |
| Profit (loss) for the period | 9904 | €265,587 | €234,711 | -€30,876 | -11.6% |
| Profit (loss) for the period to be appropriated | 9905 | €265,587 | €234,711 | -€30,876 | -11.6% |
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 9 October 2026 via checked.be.