TREBUH: 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.
TREBUH
Largest movements
- Current investments +€946,000
new in 2025: €946,000
- Cash -€778,432
down €778,432 (-87.9%), from €885,997 to €107,565
mainly Current investments (-€946,000) and Trade debts (-€9,823)
- Receivables within one year -€11,155
down €11,155 (-17.5%), from €63,687 to €52,532
of which Other amounts receivable: -€14,119
- Reserves +€159,810
up €159,810 (+17.4%), from €920,359 to €1.1m
of which Distributable reserves: +€159,810
- Gross operating margin +€43,613
up €43,613 (+25.0%), from €174,593 to €218,206
- Financial income -€15,875
down €15,875 (-47.9%), from €33,170 to €17,295
- Taxes +€8,831
up €8,831 (+13.4%), from €65,928 to €74,759
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 | €950,884 | €1,107,351 | +€156,467 | +16.5% |
| Fixed assets | 21/28 | €1,200 | €1,200 | = | 0.0% |
| Financial fixed assets | 28 | €1,200 | €1,200 | = | 0.0% |
| Current assets | 29/58 | €949,684 | €1,106,151 | +€156,467 | +16.5% |
| Amounts receivable within one year | 40/41 | €63,687 | €52,532 | -€11,155 | -17.5% |
| Trade receivables | 40 | €49,568 | €52,532 | +€2,964 | +6.0% |
| Other amounts receivable | 41 | €14,119 | €0 | -€14,119 | -100% |
| Current investments | 50/53 | - | €946,000 | +€946,000 | |
| Cash at bank and in hand | 54/58 | €885,997 | €107,565 | -€778,432 | -87.9% |
| Deferred charges and accrued income | 490/1 | - | €54 | +€54 | |
| Total equity and liabilities | 10/49 | €950,884 | €1,107,351 | +€156,467 | +16.5% |
| Equity | 10/15 | €932,759 | €1,092,569 | +€159,810 | +17.1% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €920,359 | €1,080,169 | +€159,810 | +17.4% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €918,499 | €1,078,309 | +€159,810 | +17.4% |
| Amounts payable | 17/49 | €18,124 | €14,782 | -€3,342 | -18.4% |
| Amounts payable within one year | 42/48 | €18,124 | €14,782 | -€3,342 | -18.4% |
| Trade debts | 44 | €9,823 | €0 | -€9,823 | -100% |
| Suppliers | 440/4 | €9,823 | €0 | -€9,823 | -100% |
| Taxes, remuneration and social security | 45 | €6,910 | €11,408 | +€4,498 | +65.1% |
| Taxes | 450/3 | €6,910 | €11,408 | +€4,498 | +65.1% |
| Other amounts payable | 47/48 | €1,392 | €3,374 | +€1,982 | +142% |
| Other operating charges | 640/8 | €659 | €775 | +€116 | +17.6% |
| Gross operating margin | 9900 | €174,593 | €218,206 | +€43,613 | +25.0% |
| Operating profit (loss) | 9901 | €173,934 | €217,431 | +€43,497 | +25.0% |
| Financial income | 75/76B | €33,170 | €17,295 | -€15,875 | -47.9% |
| Recurring financial income | 75 | €33,170 | €17,295 | -€15,875 | -47.9% |
| Financial charges | 65/66B | €153 | €157 | +€4 | +2.7% |
| Recurring financial charges | 65 | €153 | €157 | +€4 | +2.7% |
| Profit (loss) for the period before taxes | 9903 | €206,951 | €234,569 | +€27,618 | +13.3% |
| Income taxes | 67/77 | €65,928 | €74,759 | +€8,831 | +13.4% |
| Profit (loss) for the period | 9904 | €141,023 | €159,810 | +€18,787 | +13.3% |
| Profit (loss) for the period to be appropriated | 9905 | €141,023 | €159,810 | +€18,787 | +13.3% |
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 15 October 2026 via checked.be.