TREFLEX: 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.
TREFLEX
Largest movements
- Cash +€97,020
up €97,020 (+178%), from €54,462 to €151,483
mainly Receivables within one year (+€47,070) and Net result for the year (+€34,153)
- Receivables within one year -€47,070
down €47,070 (-30.8%), from €152,993 to €105,922
- Profit (loss) carried forward +€34,153
up €34,153 (+24.2%), from €141,074 to €175,226
- Contributions +€18,550
new in 2024: €18,550
- Debts after one year -€18,550
no longer reported in 2024 (was €18,550)
- Other debts +€12,319
up €12,319 (+1,259%), from €979 to €13,298
- Tax, wage and social debts +€5,838
up €5,838 (+12.9%), from €45,275 to €51,113
of which Taxes: +€10,502
- Gross operating margin +€72,625
up €72,625 (+62.9%), from €115,486 to €188,111
- Other operating charges +€20,676
up €20,676 (+66.0%), from €31,339 to €52,015
- Staff costs +€15,101
up €15,101 (+28.0%), from €53,972 to €69,073
- Taxes +€5,365
up €5,365 (+20.3%), from €26,427 to €31,792
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €211,102 | €260,169 | +€49,067 | +23.2% |
| Fixed assets | 21/28 | €2,847 | €1,964 | -€883 | -31.0% |
| Tangible fixed assets | 22/27 | €1,247 | €364 | -€883 | -70.8% |
| Other tangible fixed assets | 26 | €1,247 | €364 | -€883 | -70.8% |
| Financial fixed assets | 28 | €1,600 | €1,600 | = | 0.0% |
| Current assets | 29/58 | €208,255 | €258,205 | +€49,950 | +24.0% |
| Amounts receivable within one year | 40/41 | €152,993 | €105,922 | -€47,070 | -30.8% |
| Other amounts receivable | 41 | €152,993 | €105,922 | -€47,070 | -30.8% |
| Cash at bank and in hand | 54/58 | €54,462 | €151,483 | +€97,020 | +178% |
| Deferred charges and accrued income | 490/1 | €800 | €800 | = | 0.0% |
| Total equity and liabilities | 10/49 | €211,102 | €260,169 | +€49,067 | +23.2% |
| Equity | 10/15 | €142,929 | €195,631 | +€52,703 | +36.9% |
| Contributions | 10/11 | - | €18,550 | +€18,550 | |
| Contributions outside capital | 11 | - | €18,550 | +€18,550 | |
| Other | 1109/19 | - | €18,550 | +€18,550 | |
| Reserves | 13 | €1,855 | €1,855 | = | 0.0% |
| Distributable reserves | 133 | €1,855 | €1,855 | = | 0.0% |
| Profit (loss) carried forward | 14 | €141,074 | €175,226 | +€34,153 | +24.2% |
| Amounts payable | 17/49 | €68,174 | €64,538 | -€3,636 | -5.3% |
| Amounts payable after more than one year | 17 | €18,550 | - | -€18,550 | |
| Financial debts | 170/4 | €18,550 | - | -€18,550 | |
| Amounts payable within one year | 42/48 | €49,624 | €64,538 | +€14,914 | +30.1% |
| Trade debts | 44 | €3,370 | €127 | -€3,243 | -96.2% |
| Suppliers | 440/4 | €3,370 | €127 | -€3,243 | -96.2% |
| Taxes, remuneration and social security | 45 | €45,275 | €51,113 | +€5,838 | +12.9% |
| Taxes | 450/3 | €31,627 | €42,128 | +€10,502 | +33.2% |
| Remuneration and social security | 454/9 | €13,648 | €8,985 | -€4,664 | -34.2% |
| Other amounts payable | 47/48 | €979 | €13,298 | +€12,319 | +1,259% |
| Remuneration, social security and pensions | 62 | €53,972 | €69,073 | +€15,101 | +28.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €883 | €883 | = | 0.0% |
| Other operating charges | 640/8 | €31,339 | €52,015 | +€20,676 | +66.0% |
| Gross operating margin | 9900 | €115,486 | €188,111 | +€72,625 | +62.9% |
| Operating profit (loss) | 9901 | €29,293 | €66,141 | +€36,848 | +126% |
| Financial income | 75/76B | - | €105 | +€105 | |
| Recurring financial income | 75 | - | €105 | +€105 | |
| Financial charges | 65/66B | €104 | €302 | +€197 | +189% |
| Recurring financial charges | 65 | €104 | €302 | +€197 | +189% |
| Profit (loss) for the period before taxes | 9903 | €29,188 | €65,944 | +€36,756 | +126% |
| Income taxes | 67/77 | €26,427 | €31,792 | +€5,365 | +20.3% |
| Profit (loss) for the period | 9904 | €2,762 | €34,153 | +€31,391 | +1,137% |
| Profit (loss) for the period to be appropriated | 9905 | €2,762 | €34,153 | +€31,391 | +1,137% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.