TREES & MORE: 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.
TREES & MORE
Largest movements
- Cash -€26,350
down €26,350 (-77.2%), from €34,128 to €7,778
mainly Investment in fixed assets (net) (-€32,844) and Debts after one year (-€11,090)
- Receivables within one year +€8,404
up €8,404 (+28.9%), from €29,037 to €37,441
of which Trade receivables: +€8,234
- Tangible fixed assets -€7,856
down €7,856 (-6.0%), from €131,591 to €123,735
of which Furniture and vehicles: -€28,635
- Stocks and contracts +€7,437
up €7,437 (+88.9%), from €8,365 to €15,801
- Trade debts +€18,588
up €18,588 (+56.8%), from €32,731 to €51,319
- Debts after one year -€11,090
down €11,090 (-10.2%), from €108,622 to €97,532
- Profit (loss) carried forward -€9,634
down €9,634 (-66.4%), from -€14,514 to -€24,148
- Other debts -€8,927
down €8,927 (-44.4%), from €20,104 to €11,178
- Current portion of long-term debt -€8,752
down €8,752 (-29.3%), from €29,842 to €21,090
- Gross operating margin +€51,246
up €51,246 (+73.0%), from €70,157 to €121,404
- Staff costs +€29,237
up €29,237 (+56.4%), from €51,850 to €81,088
- Other operating charges +€1,697
up €1,697 (+122.7%), from €1,383 to €3,081
- Depreciation -€1,219
down €1,219 (-2.9%), from €41,919 to €40,700
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 | €206,282 | €189,509 | -€16,773 | -8.1% |
| Fixed assets | 21/28 | €131,746 | €123,890 | -€7,856 | -6.0% |
| Tangible fixed assets | 22/27 | €131,591 | €123,735 | -€7,856 | -6.0% |
| Plant, machinery and equipment | 23 | €53,047 | €44,343 | -€8,704 | -16.4% |
| Furniture and vehicles | 24 | €60,467 | €31,832 | -€28,635 | -47.4% |
| Leasing and similar rights | 25 | €18,077 | €47,560 | +€29,483 | +163.1% |
| Financial fixed assets | 28 | €155 | €155 | = | 0.0% |
| Current assets | 29/58 | €74,536 | €65,619 | -€8,917 | -12.0% |
| Stocks and contracts in progress | 3 | €8,365 | €15,801 | +€7,437 | +88.9% |
| Stocks | 30/36 | €8,365 | €15,801 | +€7,437 | +88.9% |
| Amounts receivable within one year | 40/41 | €29,037 | €37,441 | +€8,404 | +28.9% |
| Trade receivables | 40 | €29,037 | €37,271 | +€8,234 | +28.4% |
| Other amounts receivable | 41 | - | €170 | +€170 | |
| Cash at bank and in hand | 54/58 | €34,128 | €7,778 | -€26,350 | -77.2% |
| Deferred charges and accrued income | 490/1 | €3,006 | €4,599 | +€1,593 | +53.0% |
| Total equity and liabilities | 10/49 | €206,282 | €189,509 | -€16,773 | -8.1% |
| Equity | 10/15 | €4,086 | -€5,548 | -€9,634 | |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€14,514 | -€24,148 | -€9,634 | -66.4% |
| Amounts payable | 17/49 | €202,196 | €195,056 | -€7,140 | -3.5% |
| Amounts payable after more than one year | 17 | €108,622 | €97,532 | -€11,090 | -10.2% |
| Financial debts | 170/4 | €108,622 | €97,532 | -€11,090 | -10.2% |
| Amounts payable within one year | 42/48 | €93,574 | €97,524 | +€3,950 | +4.2% |
| Current portion of amounts payable after more than one year | 42 | €29,842 | €21,090 | -€8,752 | -29.3% |
| Trade debts | 44 | €32,731 | €51,319 | +€18,588 | +56.8% |
| Suppliers | 440/4 | €32,731 | €51,319 | +€18,588 | +56.8% |
| Taxes, remuneration and social security | 45 | €10,897 | €13,938 | +€3,041 | +27.9% |
| Taxes | 450/3 | €3,070 | €6,278 | +€3,208 | +104.5% |
| Remuneration and social security | 454/9 | €7,827 | €7,660 | -€167 | -2.1% |
| Other amounts payable | 47/48 | €20,104 | €11,178 | -€8,927 | -44.4% |
| Remuneration, social security and pensions | 62 | €51,850 | €81,088 | +€29,237 | +56.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,919 | €40,700 | -€1,219 | -2.9% |
| Other operating charges | 640/8 | €1,383 | €3,081 | +€1,697 | +122.7% |
| Gross operating margin | 9900 | €70,157 | €121,404 | +€51,246 | +73.0% |
| Operating profit (loss) | 9901 | -€24,995 | -€3,465 | +€21,530 | +86.1% |
| Financial income | 75/76B | €150 | €54 | -€96 | -63.9% |
| Recurring financial income | 75 | €150 | €54 | -€96 | -63.9% |
| Financial charges | 65/66B | €5,756 | €5,628 | -€129 | -2.2% |
| Recurring financial charges | 65 | €5,756 | €5,628 | -€129 | -2.2% |
| Profit (loss) for the period before taxes | 9903 | -€30,601 | -€9,038 | +€21,563 | +70.5% |
| Income taxes | 67/77 | €21 | €595 | +€574 | +2735.4% |
| Profit (loss) for the period | 9904 | -€30,622 | -€9,634 | +€20,988 | +68.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€30,622 | -€9,634 | +€20,988 | +68.5% |
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 7 October 2026 via checked.be.