TREBORINVEST: 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.
What changed
TREBORINVEST
NACE 68.203, Renting and operating of own or leased non-residential real estate, excluding land
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€19,520
2024 · €2,475-€21,994
Equity
€7.7m
2024 · €7.7m-€19,520
Cash
€69,973
2024 · €75,116-€5,143
Balance sheet total
€8.6m
2024 · €8.5m+€18,193
Largest movements
Assets
No asset line moved by more than 1% of the balance sheet total.
Equity and liabilities
No liability line moved by more than 1% of the balance sheet total.
Income statement
- Purchases and services +€25,352
up €25,352 (+20.2%), from €125,421 to €150,774
- Turnover +€13,899
up €13,899 (+11.6%), from €119,611 to €133,510
- Gross operating margin -€11,453
down €11,453 (-197%), from -€5,811 to -€17,264
- Financial income -€11,142
down €11,142 (-5.9%), from €190,061 to €178,918
- Depreciation -€6,871
down €6,871 (-5.4%), from €127,803 to €120,932
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.
Result 2024
€2,475
Gross operating margin
-€11,453
Depreciation
+€6,871
Other operating charges
-€292
Financial income
-€11,142
Financial charges
-€1,246
Taxes
-€4,732
Result 2025
-€19,520
raises the resultlowers the result
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.
From operations
+€146,496
Investment
-€167,968
Financing
+€16,329
Cash 2024
€75,116
From operations (derived)
+€146,496
Net result for the year
-€19,520
Depreciation
+€120,932
Receivables after one year
+€55,000
Receivables within one year
-€35,548
Deferred charges and accrued income
+€4,248
Trade debts
+€27,628
Tax, wage and social debts
-€3,275
Other debts
-€4,950
Accrued charges and deferred income
+€1,980
Investment (derived)
-€167,968
Investment in fixed assets (net)
-€167,968
Financing
+€16,329
Debts after one year
+€6,997
Current portion of long-term debt
+€9,332
Cash 2025
€69,973
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €8,537,583 | €8,555,776 | +€18,193 | +0.2% |
| Fixed assets | 21/28 | €3,705,969 | €3,753,005 | +€47,036 | +1.3% |
| Tangible fixed assets | 22/27 | €2,021,039 | €2,064,427 | +€43,388 | +2.1% |
| Land and buildings | 22 | €1,991,552 | €1,972,776 | -€18,776 | -0.9% |
| Furniture and vehicles | 24 | €29,487 | €0 | -€29,487 | -100% |
| Leasing and similar rights | 25 | - | €91,651 | +€91,651 | |
| Financial fixed assets | 28 | €1,684,930 | €1,688,578 | +€3,648 | +0.2% |
| Current assets | 29/58 | €4,831,614 | €4,802,771 | -€28,843 | -0.6% |
| Amounts receivable after more than one year | 29 | €4,514,425 | €4,459,425 | -€55,000 | -1.2% |
| Other amounts receivable | 291 | €4,514,425 | €4,459,425 | -€55,000 | -1.2% |
| Amounts receivable within one year | 40/41 | €233,019 | €268,566 | +€35,548 | +15.3% |
| Trade receivables | 40 | €46,778 | €99,144 | +€52,366 | +112% |
| Other amounts receivable | 41 | €186,241 | €169,422 | -€16,819 | -9.0% |
| Cash at bank and in hand | 54/58 | €75,116 | €69,973 | -€5,143 | -6.8% |
| Deferred charges and accrued income | 490/1 | €9,054 | €4,807 | -€4,248 | -46.9% |
| Total equity and liabilities | 10/49 | €8,537,583 | €8,555,776 | +€18,193 | +0.2% |
| Equity | 10/15 | €7,677,287 | €7,657,767 | -€19,520 | -0.3% |
| Contributions | 10/11 | €6,412,887 | €6,412,887 | = | 0.0% |
| Capital | 10 | €6,412,887 | €6,412,887 | = | 0.0% |
| Issued capital | 100 | €6,412,887 | €6,412,887 | = | 0.0% |
| Reserves | 13 | €999,579 | €999,579 | = | 0.0% |
| Non-distributable reserves | 130/1 | €917,206 | €917,206 | = | 0.0% |
| Legal reserve | 130 | €917,206 | €917,206 | = | 0.0% |
| Tax-exempt reserves | 132 | €82,373 | €82,373 | = | 0.0% |
| Profit (loss) carried forward | 14 | €264,821 | €245,301 | -€19,520 | -7.4% |
| Amounts payable | 17/49 | €860,296 | €898,009 | +€37,712 | +4.4% |
| Amounts payable after more than one year | 17 | €437,741 | €444,739 | +€6,997 | +1.6% |
| Financial debts | 170/4 | €437,741 | €444,739 | +€6,997 | +1.6% |
| Amounts payable within one year | 42/48 | €422,555 | €451,290 | +€28,735 | +6.8% |
| Current portion of amounts payable after more than one year | 42 | €82,629 | €91,961 | +€9,332 | +11.3% |
| Trade debts | 44 | €60,288 | €87,916 | +€27,628 | +45.8% |
| Suppliers | 440/4 | €60,288 | €87,916 | +€27,628 | +45.8% |
| Taxes, remuneration and social security | 45 | €7,425 | €4,150 | -€3,275 | -44.1% |
| Taxes | 450/3 | €7,425 | €4,150 | -€3,275 | -44.1% |
| Other amounts payable | 47/48 | €272,213 | €267,263 | -€4,950 | -1.8% |
| Accrued charges and deferred income | 492/3 | - | €1,980 | +€1,980 | |
| Turnover | 70 | €119,611 | €133,510 | +€13,899 | +11.6% |
| Goods, raw materials, services and sundry goods | 60/61 | €125,421 | €150,774 | +€25,352 | +20.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €127,803 | €120,932 | -€6,871 | -5.4% |
| Other operating charges | 640/8 | €34,135 | €34,427 | +€292 | +0.9% |
| Gross operating margin | 9900 | -€5,811 | -€17,264 | -€11,453 | -197% |
| Operating profit (loss) | 9901 | -€167,748 | -€172,623 | -€4,874 | -2.9% |
| Financial income | 75/76B | €190,061 | €178,918 | -€11,142 | -5.9% |
| Recurring financial income | 75 | €190,061 | €178,918 | -€11,142 | -5.9% |
| Financial charges | 65/66B | €15,013 | €16,259 | +€1,246 | +8.3% |
| Recurring financial charges | 65 | €10,923 | €10,771 | -€151 | -1.4% |
| Non-recurring financial charges | 66B | €4,090 | €5,487 | +€1,397 | +34.2% |
| Profit (loss) for the period before taxes | 9903 | €7,300 | -€9,963 | -€17,263 | |
| Income taxes | 67/77 | €4,825 | €9,557 | +€4,732 | +98.1% |
| Profit (loss) for the period | 9904 | €2,475 | -€19,520 | -€21,994 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,475 | -€19,520 | -€21,994 |
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 28 October 2026 via checked.be.