TreeCom: 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.
TreeCom
Largest movements
- Current investments +€101,588
up €101,588 (+84.7%), from €120,000 to €221,588
- Cash -€15,848
down €15,848 (-16.0%), from €99,179 to €83,331
mainly Current investments (-€101,588) and Contributions, distributions and other (-€50,000)
- Tangible fixed assets +€5,470
up €5,470 (+39.9%), from €13,704 to €19,175
of which Furniture and vehicles: +€8,302
- Reserves +€67,000
up €67,000 (+32.2%), from €208,360 to €275,360
of which Distributable reserves: +€67,000
- Other debts +€21,516
up €21,516 (+432.5%), from €4,974 to €26,490
- Trade debts -€3,971
down €3,971 (-83.6%), from €4,747 to €777
- Gross operating margin -€10,588
down €10,588 (-6.0%), from €175,875 to €165,288
- Taxes -€7,750
down €7,750 (-15.1%), from €51,425 to €43,675
- Depreciation +€3,010
up €3,010 (+115.3%), from €2,611 to €5,621
- Financial income +€2,879
up €2,879 (+20103.1%), from €14 to €2,893
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.
Cash bridge derived
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 | €269,819 | €356,176 | +€86,357 | +32.0% |
| Fixed assets | 21/28 | €13,704 | €19,175 | +€5,470 | +39.9% |
| Tangible fixed assets | 22/27 | €13,704 | €19,175 | +€5,470 | +39.9% |
| Plant, machinery and equipment | 23 | €2,897 | €1,660 | -€1,236 | -42.7% |
| Furniture and vehicles | 24 | €484 | €8,786 | +€8,302 | +1714.8% |
| Other tangible fixed assets | 26 | €10,323 | €8,728 | -€1,596 | -15.5% |
| Current assets | 29/58 | €256,115 | €337,001 | +€80,887 | +31.6% |
| Amounts receivable within one year | 40/41 | €34,966 | €31,676 | -€3,290 | -9.4% |
| Trade receivables | 40 | €29,466 | €27,911 | -€1,555 | -5.3% |
| Other amounts receivable | 41 | €5,500 | €3,765 | -€1,735 | -31.5% |
| Current investments | 50/53 | €120,000 | €221,588 | +€101,588 | +84.7% |
| Cash at bank and in hand | 54/58 | €99,179 | €83,331 | -€15,848 | -16.0% |
| Deferred charges and accrued income | 490/1 | €1,970 | €407 | -€1,564 | -79.4% |
| Total equity and liabilities | 10/49 | €269,819 | €356,176 | +€86,357 | +32.0% |
| Equity | 10/15 | €229,093 | €296,614 | +€67,521 | +29.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €208,360 | €275,360 | +€67,000 | +32.2% |
| 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 | €206,500 | €273,500 | +€67,000 | +32.4% |
| Profit (loss) carried forward | 14 | €2,133 | €2,654 | +€521 | +24.4% |
| Amounts payable | 17/49 | €40,726 | €59,562 | +€18,836 | +46.3% |
| Amounts payable within one year | 42/48 | €40,726 | €59,562 | +€18,836 | +46.3% |
| Trade debts | 44 | €4,747 | €777 | -€3,971 | -83.6% |
| Suppliers | 440/4 | €4,747 | €777 | -€3,971 | -83.6% |
| Taxes, remuneration and social security | 45 | €31,004 | €32,296 | +€1,291 | +4.2% |
| Taxes | 450/3 | €31,004 | €32,296 | +€1,291 | +4.2% |
| Other amounts payable | 47/48 | €4,974 | €26,490 | +€21,516 | +432.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,611 | €5,621 | +€3,010 | +115.3% |
| Other operating charges | 640/8 | €771 | €894 | +€124 | +16.0% |
| Gross operating margin | 9900 | €175,875 | €165,288 | -€10,588 | -6.0% |
| Operating profit (loss) | 9901 | €172,494 | €158,773 | -€13,721 | -8.0% |
| Financial income | 75/76B | €14 | €2,893 | +€2,879 | +20103.1% |
| Recurring financial income | 75 | €14 | €2,893 | +€2,879 | +20103.1% |
| Financial charges | 65/66B | €1,057 | €471 | -€586 | -55.5% |
| Recurring financial charges | 65 | €1,057 | €471 | -€586 | -55.5% |
| Profit (loss) for the period before taxes | 9903 | €171,452 | €161,195 | -€10,256 | -6.0% |
| Income taxes | 67/77 | €51,425 | €43,675 | -€7,750 | -15.1% |
| Profit (loss) for the period | 9904 | €120,027 | €117,521 | -€2,506 | -2.1% |
| Profit (loss) for the period to be appropriated | 9905 | €120,027 | €117,521 | -€2,506 | -2.1% |
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 11 October 2026 via checked.be.