TREELINE: 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.
TREELINE
Largest movements
- Cash +€17,762
up €17,762 (+78.3%), from €22,676 to €40,438
mainly Depreciation (+€25,679) and Net result for the year (+€19,762)
- Tangible fixed assets -€8,816
down €8,816 (-24.0%), from €36,664 to €27,848
of which Plant, machinery and equipment: -€4,874
- Receivables within one year +€6,375
up €6,375 (+34.6%), from €18,406 to €24,781
of which Trade receivables: +€5,688
- Stocks and contracts +€6,279
up €6,279 (+72.6%), from €8,652 to €14,931
- Intangible fixed assets -€5,100
down €5,100 (-16.6%), from €30,796 to €25,696
- Profit (loss) carried forward +€12,612
up €12,612, from -€12,612 to €0
- Reserves +€7,150
new in 2025: €7,150
- Debts after one year -€6,521
down €6,521 (-18.4%), from €35,518 to €28,997
- Tax, wage and social debts +€6,003
up €6,003 (+303.2%), from €1,980 to €7,982
of which Taxes: +€5,219
- Trade debts -€5,664
down €5,664 (-41.5%), from €13,648 to €7,984
- Gross operating margin -€7,150
down €7,150 (-7.0%), from €101,615 to €94,465
- Staff costs -€4,568
down €4,568 (-9.6%), from €47,785 to €43,217
- Taxes +€4,342
new in 2025: €4,342
- Financial income +€1,061
up €1,061 (+9901.8%), from €11 to €1,072
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 | €117,291 | €133,695 | +€16,404 | +14.0% |
| Fixed assets | 21/28 | €67,460 | €53,544 | -€13,916 | -20.6% |
| Intangible fixed assets | 21 | €30,796 | €25,696 | -€5,100 | -16.6% |
| Tangible fixed assets | 22/27 | €36,664 | €27,848 | -€8,816 | -24.0% |
| Plant, machinery and equipment | 23 | €18,706 | €13,832 | -€4,874 | -26.1% |
| Furniture and vehicles | 24 | €17,958 | €14,016 | -€3,942 | -22.0% |
| Current assets | 29/58 | €49,831 | €80,151 | +€30,320 | +60.8% |
| Stocks and contracts in progress | 3 | €8,652 | €14,931 | +€6,279 | +72.6% |
| Stocks | 30/36 | €8,652 | €14,931 | +€6,279 | +72.6% |
| Amounts receivable within one year | 40/41 | €18,406 | €24,781 | +€6,375 | +34.6% |
| Trade receivables | 40 | €16,116 | €21,804 | +€5,688 | +35.3% |
| Other amounts receivable | 41 | €2,290 | €2,977 | +€687 | +30.0% |
| Cash at bank and in hand | 54/58 | €22,676 | €40,438 | +€17,762 | +78.3% |
| Deferred charges and accrued income | 490/1 | €97 | €0 | -€97 | -100.0% |
| Total equity and liabilities | 10/49 | €117,291 | €133,695 | +€16,404 | +14.0% |
| Equity | 10/15 | €2,388 | €22,150 | +€19,762 | +827.7% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Reserves | 13 | - | €7,150 | +€7,150 | |
| Distributable reserves | 133 | - | €7,150 | +€7,150 | |
| Profit (loss) carried forward | 14 | -€12,612 | €0 | +€12,612 | |
| Amounts payable | 17/49 | €114,903 | €111,545 | -€3,358 | -2.9% |
| Amounts payable after more than one year | 17 | €35,518 | €28,997 | -€6,521 | -18.4% |
| Financial debts | 170/4 | €35,518 | €28,997 | -€6,521 | -18.4% |
| Amounts payable within one year | 42/48 | €78,679 | €82,548 | +€3,868 | +4.9% |
| Current portion of amounts payable after more than one year | 42 | €18,382 | €18,077 | -€305 | -1.7% |
| Trade debts | 44 | €13,648 | €7,984 | -€5,664 | -41.5% |
| Suppliers | 440/4 | €13,648 | €7,984 | -€5,664 | -41.5% |
| Taxes, remuneration and social security | 45 | €1,980 | €7,982 | +€6,003 | +303.2% |
| Taxes | 450/3 | €1,980 | €7,199 | +€5,219 | +263.6% |
| Remuneration and social security | 454/9 | €0 | €783 | +€783 | |
| Other amounts payable | 47/48 | €44,670 | €48,505 | +€3,835 | +8.6% |
| Accrued charges and deferred income | 492/3 | €706 | €0 | -€706 | -100.0% |
| Remuneration, social security and pensions | 62 | €47,785 | €43,217 | -€4,568 | -9.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,694 | €25,679 | +€985 | +4.0% |
| Other operating charges | 640/8 | €958 | €1,190 | +€232 | +24.2% |
| Gross operating margin | 9900 | €101,615 | €94,465 | -€7,150 | -7.0% |
| Operating profit (loss) | 9901 | €28,178 | €24,380 | -€3,798 | -13.5% |
| Financial income | 75/76B | €11 | €1,072 | +€1,061 | +9901.8% |
| Recurring financial income | 75 | €11 | €1,072 | +€1,061 | +9901.8% |
| Financial charges | 65/66B | €1,192 | €1,348 | +€155 | +13.0% |
| Recurring financial charges | 65 | €1,192 | €1,348 | +€155 | +13.0% |
| Profit (loss) for the period before taxes | 9903 | €26,997 | €24,104 | -€2,892 | -10.7% |
| Income taxes | 67/77 | - | €4,342 | +€4,342 | |
| Profit (loss) for the period | 9904 | €26,997 | €19,762 | -€7,234 | -26.8% |
| Profit (loss) for the period to be appropriated | 9905 | €26,997 | €19,762 | -€7,234 | -26.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.