TREFIMMO: 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.
TREFIMMO
Largest movements
- Cash -€154,623
down €154,623 (-26.7%), from €579,905 to €425,282
mainly Trade debts (-€198,858) and Investment in fixed assets (net) (-€189,101)
- Tangible fixed assets +€79,413
up €79,413 (+7.5%), from €1.1m to €1.1m
of which Land and buildings: +€82,419
- Receivables within one year -€49,659
down €49,659 (-39.3%), from €126,411 to €76,752
of which Trade receivables: -€68,706
- Trade debts -€198,858
down €198,858 (-62.9%), from €315,977 to €117,120
- Current portion of long-term debt +€72,106
up €72,106 (+203.9%), from €35,360 to €107,466
- Debts after one year -€35,669
down €35,669 (-4.2%), from €840,755 to €805,087
- Profit (loss) carried forward +€19,385
up €19,385 (+2.8%), from €702,942 to €722,327
- Gross operating margin -€72,575
down €72,575 (-21.9%), from €331,450 to €258,875
- Taxes -€27,254
down €27,254 (-72.9%), from €37,403 to €10,149
- Depreciation -€5,597
down €5,597 (-5.3%), from €105,226 to €99,630
- Financial charges +€3,832
up €3,832 (+21.2%), from €18,039 to €21,871
- Staff costs +€3,379
up €3,379 (+3.8%), from €88,839 to €92,218
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 | €1,934,085 | €1,810,015 | -€124,070 | -6.4% |
| Fixed assets | 21/28 | €1,070,657 | €1,160,128 | +€89,471 | +8.4% |
| Intangible fixed assets | 21 | €4,165 | €2,973 | -€1,192 | -28.6% |
| Tangible fixed assets | 22/27 | €1,064,492 | €1,143,906 | +€79,413 | +7.5% |
| Land and buildings | 22 | €1,007,086 | €1,089,505 | +€82,419 | +8.2% |
| Plant, machinery and equipment | 23 | €4,808 | €7,971 | +€3,163 | +65.8% |
| Furniture and vehicles | 24 | €51,930 | €46,161 | -€5,769 | -11.1% |
| Other tangible fixed assets | 26 | €669 | €269 | -€400 | -59.8% |
| Financial fixed assets | 28 | €2,000 | €13,250 | +€11,250 | +562.5% |
| Current assets | 29/58 | €863,428 | €649,887 | -€213,541 | -24.7% |
| Amounts receivable after more than one year | 29 | €149,188 | €140,000 | -€9,188 | -6.2% |
| Trade receivables | 290 | €149,188 | €140,000 | -€9,188 | -6.2% |
| Amounts receivable within one year | 40/41 | €126,411 | €76,752 | -€49,659 | -39.3% |
| Trade receivables | 40 | €121,212 | €52,506 | -€68,706 | -56.7% |
| Other amounts receivable | 41 | €5,199 | €24,246 | +€19,047 | +366.4% |
| Cash at bank and in hand | 54/58 | €579,905 | €425,282 | -€154,623 | -26.7% |
| Deferred charges and accrued income | 490/1 | €7,924 | €7,853 | -€72 | -0.9% |
| Total equity and liabilities | 10/49 | €1,934,085 | €1,810,015 | -€124,070 | -6.4% |
| Equity | 10/15 | €723,402 | €742,787 | +€19,385 | +2.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | €18,600 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €702,942 | €722,327 | +€19,385 | +2.8% |
| Amounts payable | 17/49 | €1,210,684 | €1,067,228 | -€143,455 | -11.8% |
| Amounts payable after more than one year | 17 | €840,755 | €805,087 | -€35,669 | -4.2% |
| Other amounts payable | 178/9 | €840,755 | €805,087 | -€35,669 | -4.2% |
| Amounts payable within one year | 42/48 | €369,061 | €261,274 | -€107,787 | -29.2% |
| Current portion of amounts payable after more than one year | 42 | €35,360 | €107,466 | +€72,106 | +203.9% |
| Trade debts | 44 | €315,977 | €117,120 | -€198,858 | -62.9% |
| Suppliers | 440/4 | €315,977 | €117,120 | -€198,858 | -62.9% |
| Taxes, remuneration and social security | 45 | €17,723 | €36,688 | +€18,965 | +107.0% |
| Taxes | 450/3 | - | €8,816 | +€8,816 | |
| Remuneration and social security | 454/9 | €17,723 | €27,872 | +€10,149 | +57.3% |
| Accrued charges and deferred income | 492/3 | €868 | €868 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €88,839 | €92,218 | +€3,379 | +3.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €105,226 | €99,630 | -€5,597 | -5.3% |
| Other operating charges | 640/8 | €14,076 | €15,720 | +€1,644 | +11.7% |
| Gross operating margin | 9900 | €331,450 | €258,875 | -€72,575 | -21.9% |
| Operating profit (loss) | 9901 | €123,308 | €51,307 | -€72,002 | -58.4% |
| Financial income | 75/76B | €322 | €99 | -€223 | -69.3% |
| Recurring financial income | 75 | €322 | €99 | -€223 | -69.3% |
| Financial charges | 65/66B | €18,039 | €21,871 | +€3,832 | +21.2% |
| Recurring financial charges | 65 | €18,039 | €21,871 | +€3,832 | +21.2% |
| Profit (loss) for the period before taxes | 9903 | €105,591 | €29,534 | -€76,058 | -72.0% |
| Income taxes | 67/77 | €37,403 | €10,149 | -€27,254 | -72.9% |
| Profit (loss) for the period | 9904 | €68,189 | €19,385 | -€48,804 | -71.6% |
| Profit (loss) for the period to be appropriated | 9905 | €68,189 | €19,385 | -€48,804 | -71.6% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.