TREC: 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.
TREC
Largest movements
No asset line moved by more than 1% of the balance sheet total.
No liability line moved by more than 1% of the balance sheet total.
- Gross operating margin +€754
no longer reported in 2025 (was -€754)
- Financial charges -€78
no longer reported in 2025 (was €78)
From the 2022 result to the 2025 result
The net result is not in both sets of accounts; without it the difference cannot be explained line by line.
Derived cash bridge
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2022 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €13,619 | €13,619 | = | 0.0% |
| Fixed assets | 21/28 | €6,754 | €6,754 | = | 0.0% |
| Tangible fixed assets | 22/27 | €6,754 | €6,754 | = | 0.0% |
| Plant, machinery and equipment | 23 | €1,184 | €1,184 | = | 0.0% |
| Furniture and vehicles | 24 | €5,571 | €5,571 | = | 0.0% |
| Current assets | 29/58 | €6,864 | €6,864 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €6,112 | €6,112 | = | 0.0% |
| Trade receivables | 40 | €6,052 | €6,052 | = | 0.0% |
| Other amounts receivable | 41 | €60 | €60 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €192 | €192 | = | 0.0% |
| Deferred charges and accrued income | 490/1 | €561 | €561 | = | 0.0% |
| Total equity and liabilities | 10/49 | €13,619 | €13,619 | = | 0.0% |
| Equity | 10/15 | -€25,318 | -€25,318 | = | 0.0% |
| Contributions | 10/11 | €17,390 | €17,390 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€42,708 | -€42,708 | = | 0.0% |
| Amounts payable | 17/49 | €38,937 | €38,937 | = | 0.0% |
| Amounts payable within one year | 42/48 | €38,937 | €38,937 | = | 0.0% |
| Trade debts | 44 | €10,178 | €10,178 | = | 0.0% |
| Suppliers | 440/4 | €10,178 | €10,178 | = | 0.0% |
| Other amounts payable | 47/48 | €28,759 | €28,759 | = | 0.0% |
| Gross operating margin | 9900 | -€754 | - | +€754 | |
| Operating profit (loss) | 9901 | -€754 | - | +€754 | |
| Financial charges | 65/66B | €78 | - | -€78 | |
| Recurring financial charges | 65 | €78 | - | -€78 | |
| Profit (loss) for the period before taxes | 9903 | -€832 | - | +€832 | |
| Profit (loss) for the period | 9904 | -€832 | - | +€832 | |
| Profit (loss) for the period to be appropriated | 9905 | -€832 | - | +€832 |
Source: filed annual accounts (NBB), financial years ended 30 September 2022 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.