TREE TIME: 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 TIME
Largest movements
- Stocks and contracts +€25,250
up €25,250 (+20.3%), from €124,500 to €149,750
- Cash -€11,096
down €11,096 (-27.3%), from €40,643 to €29,548
mainly Stocks and contracts (-€25,250) and Receivables within one year (-€7,444)
- Receivables within one year +€7,444
up €7,444 (+103%), from €7,242 to €14,686
of which Trade receivables: +€7,715
- Trade debts +€16,580
up €16,580 (+167%), from €9,926 to €26,506
- Other debts +€4,746
up €4,746 (+475%), from €1,000 to €5,746
- Tax, wage and social debts -€4,409
down €4,409 (-44.2%), from €9,967 to €5,558
of which Taxes: -€5,068
- Gross operating margin +€44,711
up €44,711, from -€23,794 to €20,917
- Staff costs +€10,303
up €10,303 (+207%), from €4,986 to €15,288
- Depreciation +€832
up €832 (+18.0%), from €4,609 to €5,441
- Financial charges +€401
up €401 (+28.3%), from €1,418 to €1,819
- Other operating charges -€240
down €240 (-12.9%), from €1,860 to €1,620
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 | €212,204 | €230,236 | +€18,032 | +8.5% |
| Fixed assets | 21/28 | €37,738 | €35,448 | -€2,291 | -6.1% |
| Tangible fixed assets | 22/27 | €37,738 | €35,448 | -€2,291 | -6.1% |
| Land and buildings | 22 | €26,944 | €26,944 | = | 0.0% |
| Plant, machinery and equipment | 23 | €7,053 | €3,436 | -€3,617 | -51.3% |
| Furniture and vehicles | 24 | €1,234 | €3,095 | +€1,860 | +151% |
| Other tangible fixed assets | 26 | €2,507 | €1,973 | -€534 | -21.3% |
| Current assets | 29/58 | €174,466 | €194,789 | +€20,323 | +11.6% |
| Stocks and contracts in progress | 3 | €124,500 | €149,750 | +€25,250 | +20.3% |
| Stocks | 30/36 | €124,500 | €149,750 | +€25,250 | +20.3% |
| Amounts receivable within one year | 40/41 | €7,242 | €14,686 | +€7,444 | +103% |
| Trade receivables | 40 | €2,385 | €10,100 | +€7,715 | +323% |
| Other amounts receivable | 41 | €4,857 | €4,586 | -€271 | -5.6% |
| Cash at bank and in hand | 54/58 | €40,643 | €29,548 | -€11,096 | -27.3% |
| Deferred charges and accrued income | 490/1 | €2,081 | €805 | -€1,276 | -61.3% |
| Total equity and liabilities | 10/49 | €212,204 | €230,236 | +€18,032 | +8.5% |
| Equity | 10/15 | €152,662 | €153,776 | +€1,115 | +0.7% |
| Contributions | 10/11 | €41,000 | €41,000 | = | 0.0% |
| Reserves | 13 | €111,662 | €111,662 | = | 0.0% |
| Distributable reserves | 133 | €111,662 | €111,662 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €1,115 | +€1,115 | |
| Amounts payable | 17/49 | €59,542 | €76,460 | +€16,918 | +28.4% |
| Amounts payable within one year | 42/48 | €59,542 | €76,460 | +€16,918 | +28.4% |
| Current portion of amounts payable after more than one year | 42 | €38,649 | €38,649 | = | 0.0% |
| Trade debts | 44 | €9,926 | €26,506 | +€16,580 | +167% |
| Suppliers | 440/4 | €9,926 | €26,506 | +€16,580 | +167% |
| Taxes, remuneration and social security | 45 | €9,967 | €5,558 | -€4,409 | -44.2% |
| Taxes | 450/3 | €9,935 | €4,866 | -€5,068 | -51.0% |
| Remuneration and social security | 454/9 | €32 | €692 | +€659 | +2,035% |
| Other amounts payable | 47/48 | €1,000 | €5,746 | +€4,746 | +475% |
| Non-recurring operating income | 76A | - | €2,000 | +€2,000 | |
| Remuneration, social security and pensions | 62 | €4,986 | €15,288 | +€10,303 | +207% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,609 | €5,441 | +€832 | +18.0% |
| Other operating charges | 640/8 | €1,860 | €1,620 | -€240 | -12.9% |
| Non-recurring operating charges | 66A | €466 | €0 | -€466 | -100% |
| Gross operating margin | 9900 | -€23,794 | €20,917 | +€44,711 | |
| Operating profit (loss) | 9901 | -€35,714 | -€1,432 | +€34,282 | +96.0% |
| Financial income | 75/76B | €69 | €11 | -€58 | -84.3% |
| Recurring financial income | 75 | €69 | €11 | -€58 | -84.3% |
| Financial charges | 65/66B | €1,418 | €1,819 | +€401 | +28.3% |
| Recurring financial charges | 65 | €1,418 | €1,819 | +€401 | +28.3% |
| Profit (loss) for the period before taxes | 9903 | -€37,064 | -€3,240 | +€33,823 | +91.3% |
| Income taxes | 67/77 | €168 | €187 | +€19 | +11.4% |
| Profit (loss) for the period | 9904 | -€37,232 | -€3,427 | +€33,804 | +90.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€37,232 | -€3,427 | +€33,804 | +90.8% |
Source: filed annual accounts (NBB), financial years ended 30 April 2024 and 30 April 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.