Treestar: 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.
Treestar
Largest movements
- Receivables within one year +€50,124
up €50,124 (+193.3%), from €25,935 to €76,059
of which Trade receivables: +€48,769
- Cash +€12,562
up €12,562 (+34.1%), from €36,820 to €49,382
mainly Net result for the year (+€85,031) and Trade debts (+€19,692)
- Tangible fixed assets -€2,776
down €2,776 (-1.9%), from €146,489 to €143,713
of which Other tangible fixed assets: -€6,410
- Reserves +€85,031
up €85,031 (+803.4%), from €10,584 to €95,615
of which Distributable reserves: +€85,031
- Other debts -€43,733
down €43,733 (-26.3%), from €166,351 to €122,618
- Trade debts +€19,692
up €19,692 (+690.5%), from €2,852 to €22,544
- Gross operating margin +€48,469
up €48,469 (+69.9%), from €69,357 to €117,826
- Taxes +€10,145
up €10,145 (+86.5%), from €11,729 to €21,874
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 | €209,244 | €270,294 | +€61,049 | +29.2% |
| Fixed assets | 21/28 | €146,489 | €143,713 | -€2,776 | -1.9% |
| Tangible fixed assets | 22/27 | €146,489 | €143,713 | -€2,776 | -1.9% |
| Plant, machinery and equipment | 23 | €1,520 | €982 | -€538 | -35.4% |
| Furniture and vehicles | 24 | €112,334 | €116,505 | +€4,171 | +3.7% |
| Other tangible fixed assets | 26 | €32,635 | €26,226 | -€6,410 | -19.6% |
| Current assets | 29/58 | €62,755 | €126,581 | +€63,826 | +101.7% |
| Amounts receivable within one year | 40/41 | €25,935 | €76,059 | +€50,124 | +193.3% |
| Trade receivables | 40 | €22,664 | €71,433 | +€48,769 | +215.2% |
| Other amounts receivable | 41 | €3,271 | €4,626 | +€1,355 | +41.4% |
| Cash at bank and in hand | 54/58 | €36,820 | €49,382 | +€12,562 | +34.1% |
| Deferred charges and accrued income | 490/1 | - | €1,140 | +€1,140 | |
| Total equity and liabilities | 10/49 | €209,244 | €270,294 | +€61,049 | +29.2% |
| Equity | 10/15 | €29,184 | €114,215 | +€85,031 | +291.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €10,584 | €95,615 | +€85,031 | +803.4% |
| 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 | €8,724 | €93,755 | +€85,031 | +974.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €180,060 | €156,079 | -€23,982 | -13.3% |
| Amounts payable within one year | 42/48 | €180,060 | €156,079 | -€23,982 | -13.3% |
| Trade debts | 44 | €2,852 | €22,544 | +€19,692 | +690.5% |
| Suppliers | 440/4 | €2,852 | €22,544 | +€19,692 | +690.5% |
| Taxes, remuneration and social security | 45 | €10,857 | €10,916 | +€59 | +0.5% |
| Taxes | 450/3 | €8,357 | €8,416 | +€59 | +0.7% |
| Remuneration and social security | 454/9 | €2,500 | €2,500 | = | 0.0% |
| Other amounts payable | 47/48 | €166,351 | €122,618 | -€43,733 | -26.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,751 | €9,492 | -€260 | -2.7% |
| Other operating charges | 640/8 | €898 | €917 | +€18 | +2.1% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €69,357 | €117,826 | +€48,469 | +69.9% |
| Operating profit (loss) | 9901 | €58,707 | €107,417 | +€48,710 | +83.0% |
| Financial income | 75/76B | €3 | €0 | -€3 | -100.0% |
| Recurring financial income | 75 | €3 | €0 | -€3 | -100.0% |
| Financial charges | 65/66B | €672 | €513 | -€160 | -23.7% |
| Recurring financial charges | 65 | €672 | €513 | -€160 | -23.7% |
| Profit (loss) for the period before taxes | 9903 | €58,038 | €106,905 | +€48,867 | +84.2% |
| Income taxes | 67/77 | €11,729 | €21,874 | +€10,145 | +86.5% |
| Profit (loss) for the period | 9904 | €46,309 | €85,031 | +€38,722 | +83.6% |
| Profit (loss) for the period to be appropriated | 9905 | €46,309 | €85,031 | +€38,722 | +83.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.