TREEDY’S: what changed
Two fiscal 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.
TREEDY’S
Largest movements
- Receivables within one year -€25,378
down €25,378 (-57.6%), from €44,052 to €18,674
of which Other amounts receivable: -€25,378
- Intangible fixed assets +€20,218
up €20,218 (+4.9%), from €416,149 to €436,366
- Cash +€7,295
up €7,295 (+52.0%), from €14,026 to €21,322
mainly Contributions, distributions and other (+€789,348) and Depreciation (+€48,593)
- Contributions +€837,699
up €837,699 (+53.0%), from €1.6m to €2.4m
of which Outside capital: +€614,052
- Debts after one year -€470,564
no longer reported in 2024 (was €470,564)
- Profit (loss) carried forward -€248,779
down €248,779 (-12.9%), from -€1.9m to -€2.2m
- Investment grants -€48,351
down €48,351 (-50.8%), from €95,265 to €46,914
- Accrued charges and deferred income -€28,026
no longer reported in 2024 (was €28,026)
- Depreciation -€164,436
down €164,436 (-77.2%), from €213,030 to €48,593
- Gross operating margin -€72,763
down €72,763 (-62.0%), from -€117,441 to -€190,204
- Financial income +€18,937
up €18,937 (+64.3%), from €29,432 to €48,368
- Staff costs +€17,283
up €17,283 (+33.7%), from €51,286 to €68,569
- Financial charges -€10,543
down €10,543 (-71.8%), from €14,680 to €4,137
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €497,598 | €500,289 | +€2,691 | +0.5% |
| Fixed assets | 21/28 | €438,686 | €460,294 | +€21,607 | +4.9% |
| Intangible fixed assets | 21 | €416,149 | €436,366 | +€20,218 | +4.9% |
| Tangible fixed assets | 22/27 | €15,234 | €16,623 | +€1,389 | +9.1% |
| Plant, machinery and equipment | 23 | €6,391 | €6,391 | = | 0.0% |
| Furniture and vehicles | 24 | €6,655 | €8,108 | +€1,453 | +21.8% |
| Other tangible fixed assets | 26 | €2,187 | €2,124 | -€63 | -2.9% |
| Financial fixed assets | 28 | €7,304 | €7,304 | = | 0.0% |
| Current assets | 29/58 | €58,912 | €39,996 | -€18,916 | -32.1% |
| Amounts receivable within one year | 40/41 | €44,052 | €18,674 | -€25,378 | -57.6% |
| Trade receivables | 40 | €12,100 | €12,100 | = | 0.0% |
| Other amounts receivable | 41 | €31,952 | €6,574 | -€25,378 | -79.4% |
| Cash at bank and in hand | 54/58 | €14,026 | €21,322 | +€7,295 | +52.0% |
| Deferred charges and accrued income | 490/1 | €834 | - | -€834 | |
| Total equity and liabilities | 10/49 | €497,598 | €500,289 | +€2,691 | +0.5% |
| Equity | 10/15 | -€255,502 | €285,067 | +€540,569 | |
| Contributions | 10/11 | €1,581,464 | €2,419,164 | +€837,699 | +53.0% |
| Capital | 10 | €84,340 | €307,987 | +€223,647 | +265.2% |
| Issued capital | 100 | €84,340 | €307,987 | +€223,647 | +265.2% |
| Outside capital | 11 | €1,497,125 | €2,111,177 | +€614,052 | +41.0% |
| Share premium | 1100/10 | €1,497,125 | €2,111,177 | +€614,052 | +41.0% |
| Reserves | 13 | €1,728 | €1,728 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,728 | €1,728 | = | 0.0% |
| Legal reserve | 130 | €1,728 | €1,728 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,933,960 | -€2,182,739 | -€248,779 | -12.9% |
| Investment grants | 15 | €95,265 | €46,914 | -€48,351 | -50.8% |
| Provisions and deferred taxes | 16 | €28,660 | €14,154 | -€14,505 | -50.6% |
| Deferred taxes | 168 | €28,660 | €14,154 | -€14,505 | -50.6% |
| Amounts payable | 17/49 | €724,441 | €201,068 | -€523,373 | -72.2% |
| Amounts payable after more than one year | 17 | €470,564 | - | -€470,564 | |
| Financial debts | 170/4 | €470,564 | - | -€470,564 | |
| Amounts payable within one year | 42/48 | €225,850 | €201,068 | -€24,782 | -11.0% |
| Trade debts | 44 | €199,718 | €198,458 | -€1,260 | -0.6% |
| Suppliers | 440/4 | €199,718 | €198,458 | -€1,260 | -0.6% |
| Taxes, remuneration and social security | 45 | €6,542 | €2,610 | -€3,932 | -60.1% |
| Taxes | 450/3 | €542 | - | -€542 | |
| Remuneration and social security | 454/9 | €6,000 | €2,610 | -€3,390 | -56.5% |
| Other amounts payable | 47/48 | €19,590 | - | -€19,590 | |
| Accrued charges and deferred income | 492/3 | €28,026 | - | -€28,026 | |
| Remuneration, social security and pensions | 62 | €51,286 | €68,569 | +€17,283 | +33.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €213,030 | €48,593 | -€164,436 | -77.2% |
| Other operating charges | 640/8 | €899 | €150 | -€749 | -83.3% |
| Gross operating margin | 9900 | -€117,441 | -€190,204 | -€72,763 | -62.0% |
| Operating profit (loss) | 9901 | -€382,656 | -€307,516 | +€75,140 | +19.6% |
| Financial income | 75/76B | €29,432 | €48,368 | +€18,937 | +64.3% |
| Recurring financial income | 75 | €29,432 | €48,368 | +€18,937 | +64.3% |
| Financial charges | 65/66B | €14,680 | €4,137 | -€10,543 | -71.8% |
| Recurring financial charges | 65 | €14,680 | €4,137 | -€10,543 | -71.8% |
| Profit (loss) for the period before taxes | 9903 | -€367,905 | -€263,285 | +€104,620 | +28.4% |
| Transfer from deferred taxes | 780 | €8,597 | €14,505 | +€5,908 | +68.7% |
| Profit (loss) for the period | 9904 | -€359,307 | -€248,779 | +€110,528 | +30.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€359,307 | -€248,779 | +€110,528 | +30.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.