TREFPUNT: 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.
TREFPUNT
Largest movements
- Receivables within one year +€64,285
up €64,285 (+144.9%), from €44,372 to €108,657
of which Other amounts receivable: +€38,016
- Tangible fixed assets +€35,826
up €35,826 (+94.4%), from €37,935 to €73,761
of which Furniture and vehicles: +€37,120
- Cash -€27,129
down €27,129 (-26.9%), from €101,023 to €73,893
mainly Receivables within one year (-€64,285) and Investment in fixed assets (net) (-€60,394)
- Deferred charges and accrued income -€3,158
down €3,158 (-77.8%), from €4,062 to €903
- Profit (loss) carried forward +€72,749
up €72,749 (+561.2%), from €12,963 to €85,712
- Reserves -€38,538
down €38,538 (-46.5%), from €82,918 to €44,380
of which Distributable reserves: -€38,538
- Trade debts +€19,735
up €19,735 (+57.2%), from €34,527 to €54,262
- Tax, wage and social debts +€13,992
up €13,992 (+35.7%), from €39,164 to €53,156
of which Remuneration and social security: +€16,494
- Gross operating margin +€85,315
up €85,315 (+47.1%), from €180,969 to €266,284
- Financial income +€24,742
up €24,742 (+3969.1%), from €623 to €25,365
of which Non-recurring financial income: +€24,793
- Staff costs +€20,925
up €20,925 (+15.4%), from €135,475 to €156,400
- Depreciation +€14,802
up €14,802 (+151.6%), from €9,766 to €24,568
- Taxes +€14,791
up €14,791 (+142.2%), from €10,404 to €25,195
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 | €193,242 | €263,335 | +€70,093 | +36.3% |
| Fixed assets | 21/28 | €37,935 | €73,761 | +€35,826 | +94.4% |
| Tangible fixed assets | 22/27 | €37,935 | €73,761 | +€35,826 | +94.4% |
| Land and buildings | 22 | €853 | €499 | -€355 | -41.5% |
| Plant, machinery and equipment | 23 | €11,111 | €10,172 | -€939 | -8.5% |
| Furniture and vehicles | 24 | €25,970 | €63,090 | +€37,120 | +142.9% |
| Current assets | 29/58 | €155,307 | €189,574 | +€34,267 | +22.1% |
| Stocks and contracts in progress | 3 | €5,850 | €6,121 | +€270 | +4.6% |
| Stocks | 30/36 | €5,850 | €6,121 | +€270 | +4.6% |
| Amounts receivable within one year | 40/41 | €44,372 | €108,657 | +€64,285 | +144.9% |
| Trade receivables | 40 | €12,561 | €38,829 | +€26,268 | +209.1% |
| Other amounts receivable | 41 | €31,812 | €69,828 | +€38,016 | +119.5% |
| Cash at bank and in hand | 54/58 | €101,023 | €73,893 | -€27,129 | -26.9% |
| Deferred charges and accrued income | 490/1 | €4,062 | €903 | -€3,158 | -77.8% |
| Total equity and liabilities | 10/49 | €193,242 | €263,335 | +€70,093 | +36.3% |
| Equity | 10/15 | €119,551 | €153,762 | +€34,211 | +28.6% |
| Contributions | 10/11 | €23,670 | €23,670 | = | 0.0% |
| Reserves | 13 | €82,918 | €44,380 | -€38,538 | -46.5% |
| Non-distributable reserves | 130/1 | €1,967 | €1,967 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,967 | €1,967 | = | 0.0% |
| Tax-exempt reserves | 132 | €9,323 | €9,323 | = | 0.0% |
| Distributable reserves | 133 | €71,628 | €33,090 | -€38,538 | -53.8% |
| Profit (loss) carried forward | 14 | €12,963 | €85,712 | +€72,749 | +561.2% |
| Amounts payable | 17/49 | €73,691 | €109,573 | +€35,882 | +48.7% |
| Amounts payable within one year | 42/48 | €73,691 | €109,445 | +€35,754 | +48.5% |
| Trade debts | 44 | €34,527 | €54,262 | +€19,735 | +57.2% |
| Suppliers | 440/4 | €34,527 | €54,262 | +€19,735 | +57.2% |
| Taxes, remuneration and social security | 45 | €39,164 | €53,156 | +€13,992 | +35.7% |
| Taxes | 450/3 | €21,792 | €19,290 | -€2,502 | -11.5% |
| Remuneration and social security | 454/9 | €17,372 | €33,866 | +€16,494 | +94.9% |
| Other amounts payable | 47/48 | - | €2,028 | +€2,028 | |
| Accrued charges and deferred income | 492/3 | - | €128 | +€128 | |
| Remuneration, social security and pensions | 62 | €135,475 | €156,400 | +€20,925 | +15.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,766 | €24,568 | +€14,802 | +151.6% |
| Other operating charges | 640/8 | €4,602 | €7,480 | +€2,878 | +62.5% |
| Gross operating margin | 9900 | €180,969 | €266,284 | +€85,315 | +47.1% |
| Operating profit (loss) | 9901 | €31,125 | €77,835 | +€46,710 | +150.1% |
| Financial income | 75/76B | €623 | €25,365 | +€24,742 | +3969.1% |
| Recurring financial income | 75 | €623 | €572 | -€51 | -8.2% |
| Non-recurring financial income | 76B | - | €24,793 | +€24,793 | |
| Financial charges | 65/66B | €2,895 | €5,257 | +€2,361 | +81.6% |
| Recurring financial charges | 65 | €2,895 | €5,257 | +€2,361 | +81.6% |
| Profit (loss) for the period before taxes | 9903 | €28,853 | €97,944 | +€69,090 | +239.5% |
| Income taxes | 67/77 | €10,404 | €25,195 | +€14,791 | +142.2% |
| Profit (loss) for the period | 9904 | €18,450 | €72,749 | +€54,299 | +294.3% |
| Profit (loss) for the period to be appropriated | 9905 | €18,450 | €72,749 | +€54,299 | +294.3% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.