Tree is a crowd: 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.
Tree is a crowd
Largest movements
- Current investments +€223,121
up €223,121 (+34.6%), from €645,305 to €868,426
- Cash -€195,915
down €195,915 (-88.6%), from €221,127 to €25,212
mainly Current investments (-€223,121) and Net result for the year (-€15,722)
- Tangible fixed assets -€44,394
down €44,394 (-5.6%), from €790,186 to €745,792
of which Land and buildings: -€40,190
No liability line moved by more than 1% of the balance sheet total.
- Financial income -€9,403
down €9,403 (-23.8%), from €39,505 to €30,102
- Financial charges +€7,791
up €7,791 (+390%), from €1,996 to €9,787
- Gross operating margin -€3,961
down €3,961 (-29.5%), from €13,442 to €9,481
- Other operating charges -€1,590
down €1,590 (-31.7%), from €5,018 to €3,428
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 | €1,664,271 | €1,645,471 | -€18,800 | -1.1% |
| Fixed assets | 21/28 | €790,186 | €745,792 | -€44,394 | -5.6% |
| Tangible fixed assets | 22/27 | €790,186 | €745,792 | -€44,394 | -5.6% |
| Land and buildings | 22 | €767,388 | €727,198 | -€40,190 | -5.2% |
| Furniture and vehicles | 24 | €22,798 | €18,594 | -€4,204 | -18.4% |
| Current assets | 29/58 | €874,086 | €899,679 | +€25,593 | +2.9% |
| Amounts receivable within one year | 40/41 | €7,574 | €6,040 | -€1,534 | -20.3% |
| Trade receivables | 40 | €45 | - | -€45 | |
| Other amounts receivable | 41 | €7,530 | €6,040 | -€1,489 | -19.8% |
| Current investments | 50/53 | €645,305 | €868,426 | +€223,121 | +34.6% |
| Cash at bank and in hand | 54/58 | €221,127 | €25,212 | -€195,915 | -88.6% |
| Deferred charges and accrued income | 490/1 | €79 | - | -€79 | |
| Total equity and liabilities | 10/49 | €1,664,271 | €1,645,471 | -€18,800 | -1.1% |
| Equity | 10/15 | €1,603,076 | €1,587,353 | -€15,722 | -1.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,584,476 | €1,568,692 | -€15,784 | -1.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €141,986 | €136,502 | -€5,484 | -3.9% |
| Distributable reserves | 133 | €1,440,630 | €1,430,330 | -€10,300 | -0.7% |
| Profit (loss) carried forward | 14 | - | €61 | +€61 | |
| Provisions and deferred taxes | 16 | €59,641 | €57,338 | -€2,304 | -3.9% |
| Deferred taxes | 168 | €59,641 | €57,338 | -€2,304 | -3.9% |
| Amounts payable | 17/49 | €1,555 | €780 | -€774 | -49.8% |
| Amounts payable within one year | 42/48 | €547 | €780 | +€233 | +42.7% |
| Trade debts | 44 | €221 | €780 | +€559 | +253% |
| Suppliers | 440/4 | €221 | €780 | +€559 | +253% |
| Other amounts payable | 47/48 | €325 | - | -€325 | |
| Accrued charges and deferred income | 492/3 | €1,008 | - | -€1,008 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,394 | €44,394 | = | 0.0% |
| Other operating charges | 640/8 | €5,018 | €3,428 | -€1,590 | -31.7% |
| Gross operating margin | 9900 | €13,442 | €9,481 | -€3,961 | -29.5% |
| Operating profit (loss) | 9901 | -€35,970 | -€38,341 | -€2,371 | -6.6% |
| Financial income | 75/76B | €39,505 | €30,102 | -€9,403 | -23.8% |
| Recurring financial income | 75 | €39,505 | €30,102 | -€9,403 | -23.8% |
| Financial charges | 65/66B | €1,996 | €9,787 | +€7,791 | +390% |
| Recurring financial charges | 65 | €1,996 | €9,787 | +€7,791 | +390% |
| Profit (loss) for the period before taxes | 9903 | €1,540 | -€18,026 | -€19,566 | |
| Transfer from deferred taxes | 780 | €2,304 | €2,304 | = | 0.0% |
| Profit (loss) for the period | 9904 | €3,843 | -€15,722 | -€19,566 | |
| Transfer from tax-exempt reserves | 789 | €5,484 | €5,484 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €9,327 | -€10,239 | -€19,566 |
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 16 October 2026 via checked.be.