Treelodge: 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.
Treelodge
Largest movements
- Cash -€57,216
down €57,216 (-54.3%), from €105,339 to €48,124
mainly Debts after one year (-€179,791) and Contributions, distributions and other (-€50,765)
- Tangible fixed assets -€50,032
down €50,032 (-10.4%), from €481,700 to €431,667
of which Land and buildings: -€48,000
- Receivables within one year -€43,946
down €43,946 (-30.9%), from €142,200 to €98,254
of which Trade receivables: -€24,972
- Debts after one year -€179,791
down €179,791 (-47.9%), from €375,329 to €195,538
- Profit (loss) carried forward +€38,815
up €38,815 (+117%), from €33,104 to €71,918
- Current portion of long-term debt -€11,850
down €11,850 (-32.1%), from €36,880 to €25,030
- Trade debts -€10,518
down €10,518 (-62.3%), from €16,885 to €6,367
- Gross operating margin +€28,782
up €28,782 (+16.3%), from €177,032 to €205,814
- Taxes +€21,465
up €21,465 (+5,782%), from €371 to €21,836
- Staff costs +€3,366
up €3,366 (+39.7%), from €8,480 to €11,846
- Financial charges -€2,992
down €2,992 (-20.0%), from €14,991 to €11,999
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €734,726 | €583,815 | -€150,911 | -20.5% |
| Fixed assets | 21/28 | €482,225 | €432,192 | -€50,032 | -10.4% |
| Tangible fixed assets | 22/27 | €481,700 | €431,667 | -€50,032 | -10.4% |
| Land and buildings | 22 | €476,104 | €428,105 | -€48,000 | -10.1% |
| Plant, machinery and equipment | 23 | €4,827 | €3,144 | -€1,684 | -34.9% |
| Furniture and vehicles | 24 | €768 | €419 | -€349 | -45.5% |
| Financial fixed assets | 28 | €525 | €525 | = | 0.0% |
| Current assets | 29/58 | €252,501 | €151,623 | -€100,878 | -40.0% |
| Stocks and contracts in progress | 3 | €1,437 | €1,985 | +€548 | +38.2% |
| Stocks | 30/36 | €1,437 | €1,985 | +€548 | +38.2% |
| Amounts receivable within one year | 40/41 | €142,200 | €98,254 | -€43,946 | -30.9% |
| Trade receivables | 40 | €122,963 | €97,991 | -€24,972 | -20.3% |
| Other amounts receivable | 41 | €19,237 | €263 | -€18,974 | -98.6% |
| Cash at bank and in hand | 54/58 | €105,339 | €48,124 | -€57,216 | -54.3% |
| Deferred charges and accrued income | 490/1 | €3,525 | €3,260 | -€265 | -7.5% |
| Total equity and liabilities | 10/49 | €734,726 | €583,815 | -€150,911 | -20.5% |
| Equity | 10/15 | €43,105 | €81,920 | +€38,815 | +90.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €3,801 | €3,801 | = | 0.0% |
| Distributable reserves | 133 | €3,801 | €3,801 | = | 0.0% |
| Profit (loss) carried forward | 14 | €33,104 | €71,918 | +€38,815 | +117% |
| Amounts payable | 17/49 | €691,621 | €501,895 | -€189,725 | -27.4% |
| Amounts payable after more than one year | 17 | €375,329 | €195,538 | -€179,791 | -47.9% |
| Financial debts | 170/4 | €375,329 | €195,538 | -€179,791 | -47.9% |
| Amounts payable within one year | 42/48 | €172,016 | €159,214 | -€12,802 | -7.4% |
| Current portion of amounts payable after more than one year | 42 | €36,880 | €25,030 | -€11,850 | -32.1% |
| Trade debts | 44 | €16,885 | €6,367 | -€10,518 | -62.3% |
| Suppliers | 440/4 | €16,885 | €6,367 | -€10,518 | -62.3% |
| Taxes, remuneration and social security | 45 | €714 | €3,584 | +€2,870 | +402% |
| Taxes | 450/3 | €130 | €2,828 | +€2,698 | +2,072% |
| Remuneration and social security | 454/9 | €584 | €756 | +€172 | +29.5% |
| Other amounts payable | 47/48 | €117,537 | €124,233 | +€6,696 | +5.7% |
| Accrued charges and deferred income | 492/3 | €144,276 | €147,144 | +€2,868 | +2.0% |
| Non-recurring operating income | 76A | €126,271 | €179,505 | +€53,234 | +42.2% |
| Remuneration, social security and pensions | 62 | €8,480 | €11,846 | +€3,366 | +39.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €68,245 | €67,458 | -€787 | -1.2% |
| Other operating charges | 640/8 | €4,008 | €3,484 | -€525 | -13.1% |
| Non-recurring operating charges | 66A | €32,158 | - | -€32,158 | |
| Gross operating margin | 9900 | €177,032 | €205,814 | +€28,782 | +16.3% |
| Operating profit (loss) | 9901 | €64,141 | €123,027 | +€58,885 | +91.8% |
| Financial income | 75/76B | €32 | €388 | +€356 | +1,111% |
| Recurring financial income | 75 | €32 | €388 | +€356 | +1,111% |
| Financial charges | 65/66B | €14,991 | €11,999 | -€2,992 | -20.0% |
| Recurring financial charges | 65 | €14,991 | €11,999 | -€2,992 | -20.0% |
| Profit (loss) for the period before taxes | 9903 | €49,182 | €111,415 | +€62,233 | +127% |
| Income taxes | 67/77 | €371 | €21,836 | +€21,465 | +5,782% |
| Profit (loss) for the period | 9904 | €48,811 | €89,579 | +€40,768 | +83.5% |
| Profit (loss) for the period to be appropriated | 9905 | €48,811 | €89,579 | +€40,768 | +83.5% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.