TREBOR BEHEER: 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.
TREBOR BEHEER
Largest movements
- Receivables within one year -€104,177
down €104,177 (-51.7%), from €201,677 to €97,500
of which Other amounts receivable: -€104,177
- Debts after one year -€159,038
down €159,038 (-31.4%), from €507,103 to €348,065
- Reserves +€64,646
up €64,646 (+10.3%), from €628,838 to €693,483
of which Distributable reserves: +€64,646
- Current portion of long-term debt -€24,914
down €24,914 (-35.7%), from €69,736 to €44,822
- Financial income -€230,000
down €230,000 (-76.7%), from €300,000 to €70,000
- Financial charges +€27,929
up €27,929 (+940.1%), from €2,971 to €30,899
- Gross operating margin -€19,344
down €19,344 (-37.4%), from €51,764 to €32,420
- Taxes -€10,889
down €10,889 (-100.0%), from €10,889 to €0
- Depreciation +€2,509
up €2,509 (+79.4%), from €3,160 to €5,669
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 | €1,246,744 | €1,129,999 | -€116,745 | -9.4% |
| Fixed assets | 21/28 | €982,076 | €976,407 | -€5,669 | -0.6% |
| Tangible fixed assets | 22/27 | €25,186 | €19,517 | -€5,669 | -22.5% |
| Plant, machinery and equipment | 23 | €25,186 | €19,517 | -€5,669 | -22.5% |
| Financial fixed assets | 28 | €956,890 | €956,890 | = | 0.0% |
| Current assets | 29/58 | €264,668 | €153,592 | -€111,076 | -42.0% |
| Stocks and contracts in progress | 3 | €50,500 | €45,500 | -€5,000 | -9.9% |
| Stocks | 30/36 | €50,500 | €45,500 | -€5,000 | -9.9% |
| Amounts receivable within one year | 40/41 | €201,677 | €97,500 | -€104,177 | -51.7% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €201,677 | €97,500 | -€104,177 | -51.7% |
| Cash at bank and in hand | 54/58 | €12,491 | €10,079 | -€2,412 | -19.3% |
| Deferred charges and accrued income | 490/1 | - | €513 | +€513 | |
| Total equity and liabilities | 10/49 | €1,246,744 | €1,129,999 | -€116,745 | -9.4% |
| Equity | 10/15 | €647,438 | €712,083 | +€64,646 | +10.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €628,838 | €693,483 | +€64,646 | +10.3% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €628,838 | €693,483 | +€64,646 | +10.3% |
| Amounts payable | 17/49 | €599,307 | €417,916 | -€181,391 | -30.3% |
| Amounts payable after more than one year | 17 | €507,103 | €348,065 | -€159,038 | -31.4% |
| Financial debts | 170/4 | €507,103 | €348,065 | -€159,038 | -31.4% |
| Amounts payable within one year | 42/48 | €90,488 | €69,024 | -€21,464 | -23.7% |
| Current portion of amounts payable after more than one year | 42 | €69,736 | €44,822 | -€24,914 | -35.7% |
| Trade debts | 44 | €4,751 | €3,303 | -€1,448 | -30.5% |
| Suppliers | 440/4 | €4,751 | €3,303 | -€1,448 | -30.5% |
| Taxes, remuneration and social security | 45 | €16,000 | €20,899 | +€4,898 | +30.6% |
| Taxes | 450/3 | €16,000 | €20,899 | +€4,898 | +30.6% |
| Accrued charges and deferred income | 492/3 | €1,716 | €826 | -€889 | -51.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,160 | €5,669 | +€2,509 | +79.4% |
| Other operating charges | 640/8 | €2,078 | €1,206 | -€872 | -42.0% |
| Gross operating margin | 9900 | €51,764 | €32,420 | -€19,344 | -37.4% |
| Operating profit (loss) | 9901 | €46,526 | €25,545 | -€20,982 | -45.1% |
| Financial income | 75/76B | €300,000 | €70,000 | -€230,000 | -76.7% |
| Recurring financial income | 75 | €300,000 | €70,000 | -€230,000 | -76.7% |
| Financial charges | 65/66B | €2,971 | €30,899 | +€27,929 | +940.1% |
| Recurring financial charges | 65 | €2,971 | €30,899 | +€27,929 | +940.1% |
| Profit (loss) for the period before taxes | 9903 | €343,556 | €64,646 | -€278,910 | -81.2% |
| Income taxes | 67/77 | €10,889 | €0 | -€10,889 | -100.0% |
| Profit (loss) for the period | 9904 | €332,667 | €64,646 | -€268,021 | -80.6% |
| Profit (loss) for the period to be appropriated | 9905 | €332,667 | €64,646 | -€268,021 | -80.6% |
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 12 October 2026 via checked.be.