TREFOREST: 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.
TREFOREST
Largest movements
- Tangible fixed assets -€6,330
down €6,330 (-22.8%), from €27,706 to €21,376
of which Furniture and vehicles: -€10,070
- Current investments +€5,815
up €5,815 (+27.3%), from €21,287 to €27,102
- Receivables within one year -€3,409
down €3,409 (-63.2%), from €5,396 to €1,987
of which Other amounts receivable: -€2,597
- Deferred charges and accrued income +€2,062
up €2,062 (+403.4%), from €511 to €2,573
- Cash -€657
down €657 (-12.9%), from €5,076 to €4,419
mainly Current investments (-€5,815) and Investment in fixed assets (net) (-€4,210)
- Profit (loss) carried forward -€4,008
down €4,008 (-10.1%), from -€39,569 to -€43,577
- Trade debts +€1,232
up €1,232 (+165.8%), from €743 to €1,975
- Tax, wage and social debts +€1,050
new in 2025: €1,050
- Accrued charges and deferred income -€793
down €793 (-99.3%), from €799 to €6
- Depreciation +€8,001
up €8,001 (+315.3%), from €2,538 to €10,539
- Gross operating margin +€7,775
up €7,775 (+659.5%), from €1,179 to €8,954
- Financial charges -€1,037
down €1,037 (-55.6%), from €1,867 to €830
- Financial income +€103
up €103 (+50.4%), from €204 to €307
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 | €59,976 | €57,457 | -€2,519 | -4.2% |
| Fixed assets | 21/28 | €27,706 | €21,376 | -€6,330 | -22.8% |
| Tangible fixed assets | 22/27 | €27,706 | €21,376 | -€6,330 | -22.8% |
| Plant, machinery and equipment | 23 | - | €3,741 | +€3,741 | |
| Furniture and vehicles | 24 | €27,706 | €17,636 | -€10,070 | -36.3% |
| Current assets | 29/58 | €32,270 | €36,080 | +€3,810 | +11.8% |
| Amounts receivable within one year | 40/41 | €5,396 | €1,987 | -€3,409 | -63.2% |
| Trade receivables | 40 | €812 | - | -€812 | |
| Other amounts receivable | 41 | €4,584 | €1,987 | -€2,597 | -56.7% |
| Current investments | 50/53 | €21,287 | €27,102 | +€5,815 | +27.3% |
| Cash at bank and in hand | 54/58 | €5,076 | €4,419 | -€657 | -12.9% |
| Deferred charges and accrued income | 490/1 | €511 | €2,573 | +€2,062 | +403.4% |
| Total equity and liabilities | 10/49 | €59,976 | €57,457 | -€2,519 | -4.2% |
| Equity | 10/15 | €58,434 | €54,426 | -€4,008 | -6.9% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €36,003 | €36,003 | -€0 | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €29,803 | €29,803 | -€0 | 0.0% |
| Profit (loss) carried forward | 14 | -€39,569 | -€43,577 | -€4,008 | -10.1% |
| Amounts payable | 17/49 | €1,542 | €3,031 | +€1,489 | +96.6% |
| Amounts payable within one year | 42/48 | €743 | €3,025 | +€2,282 | +307.1% |
| Trade debts | 44 | €743 | €1,975 | +€1,232 | +165.8% |
| Suppliers | 440/4 | €743 | €1,975 | +€1,232 | +165.8% |
| Taxes, remuneration and social security | 45 | - | €1,050 | +€1,050 | |
| Taxes | 450/3 | - | €1,050 | +€1,050 | |
| Accrued charges and deferred income | 492/3 | €799 | €6 | -€793 | -99.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,538 | €10,539 | +€8,001 | +315.3% |
| Other operating charges | 640/8 | €899 | €850 | -€49 | -5.4% |
| Gross operating margin | 9900 | €1,179 | €8,954 | +€7,775 | +659.5% |
| Operating profit (loss) | 9901 | -€2,258 | -€2,435 | -€177 | -7.9% |
| Financial income | 75/76B | €204 | €307 | +€103 | +50.4% |
| Recurring financial income | 75 | €204 | €307 | +€103 | +50.4% |
| Financial charges | 65/66B | €1,867 | €830 | -€1,037 | -55.6% |
| Recurring financial charges | 65 | €1,867 | €830 | -€1,037 | -55.6% |
| Profit (loss) for the period before taxes | 9903 | -€3,921 | -€2,958 | +€963 | +24.6% |
| Income taxes | 67/77 | €1,051 | €1,050 | -€1 | -0.1% |
| Profit (loss) for the period | 9904 | -€4,972 | -€4,008 | +€964 | +19.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€4,972 | -€4,008 | +€964 | +19.4% |
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 28 September 2026 via checked.be.