TREETZ: 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.
TREETZ
Largest movements
- Intangible fixed assets +€253,371
up €253,371 (+163%), from €155,010 to €408,381
- Receivables within one year -€240,864
down €240,864 (-32.4%), from €743,072 to €502,208
of which Other amounts receivable: -€121,379
- Tangible fixed assets -€111,556
no longer reported in 2026 (was €111,556)
of which Assets under construction and advance payments: -€111,501
- Cash +€26,925
up €26,925 (+95.3%), from €28,264 to €55,189
mainly Receivables within one year (+€240,864) and Depreciation (+€141,186)
- Other debts -€117,759
down €117,759 (-11.4%), from €1.0m to €917,792
- Tax, wage and social debts +€49,818
up €49,818 (+212%), from €23,495 to €73,313
of which Taxes: +€62,614
- Profit (loss) carried forward -€40,318
down €40,318 (-20.1%), from -€200,320 to -€240,638
- Trade debts +€36,135
up €36,135 (+22.7%), from €159,176 to €195,311
- Gross operating margin -€97,573
down €97,573 (-37.4%), from €261,116 to €163,543
- Depreciation +€63,118
up €63,118 (+80.9%), from €78,068 to €141,186
- Staff costs -€53,044
down €53,044 (-46.7%), from €113,513 to €60,469
- Financial charges -€5,108
down €5,108 (-74.3%), from €6,876 to €1,768
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 | €1,037,902 | €965,778 | -€72,124 | -6.9% |
| Fixed assets | 21/28 | €266,566 | €408,381 | +€141,815 | +53.2% |
| Intangible fixed assets | 21 | €155,010 | €408,381 | +€253,371 | +163% |
| Tangible fixed assets | 22/27 | €111,556 | - | -€111,556 | |
| Furniture and vehicles | 24 | €55 | - | -€55 | |
| Assets under construction and advance payments | 27 | €111,501 | - | -€111,501 | |
| Current assets | 29/58 | €771,336 | €557,397 | -€213,939 | -27.7% |
| Amounts receivable within one year | 40/41 | €743,072 | €502,208 | -€240,864 | -32.4% |
| Trade receivables | 40 | €592,291 | €472,805 | -€119,486 | -20.2% |
| Other amounts receivable | 41 | €150,782 | €29,403 | -€121,379 | -80.5% |
| Cash at bank and in hand | 54/58 | €28,264 | €55,189 | +€26,925 | +95.3% |
| Total equity and liabilities | 10/49 | €1,037,902 | €965,778 | -€72,124 | -6.9% |
| Equity | 10/15 | -€180,320 | -€220,638 | -€40,318 | -22.4% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€200,320 | -€240,638 | -€40,318 | -20.1% |
| Amounts payable | 17/49 | €1,218,222 | €1,186,416 | -€31,806 | -2.6% |
| Amounts payable within one year | 42/48 | €1,218,222 | €1,186,416 | -€31,806 | -2.6% |
| Trade debts | 44 | €159,176 | €195,311 | +€36,135 | +22.7% |
| Suppliers | 440/4 | €159,176 | €195,311 | +€36,135 | +22.7% |
| Taxes, remuneration and social security | 45 | €23,495 | €73,313 | +€49,818 | +212% |
| Taxes | 450/3 | €197 | €62,811 | +€62,614 | +31,777% |
| Remuneration and social security | 454/9 | €23,298 | €10,502 | -€12,796 | -54.9% |
| Other amounts payable | 47/48 | €1,035,551 | €917,792 | -€117,759 | -11.4% |
| Remuneration, social security and pensions | 62 | €113,513 | €60,469 | -€53,044 | -46.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €78,068 | €141,186 | +€63,118 | +80.9% |
| Other operating charges | 640/8 | €772 | €400 | -€372 | -48.2% |
| Gross operating margin | 9900 | €261,116 | €163,543 | -€97,573 | -37.4% |
| Operating profit (loss) | 9901 | €68,763 | -€38,512 | -€107,275 | |
| Financial charges | 65/66B | €6,876 | €1,768 | -€5,108 | -74.3% |
| Recurring financial charges | 65 | €6,876 | €1,768 | -€5,108 | -74.3% |
| Profit (loss) for the period before taxes | 9903 | €61,887 | -€40,280 | -€102,167 | |
| Income taxes | 67/77 | €197 | €38 | -€159 | -80.7% |
| Profit (loss) for the period | 9904 | €61,690 | -€40,318 | -€102,008 | |
| Profit (loss) for the period to be appropriated | 9905 | €61,690 | -€40,318 | -€102,008 |
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 19 October 2026 via checked.be.