TREIZE: 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.
TREIZE
Largest movements
- Receivables within one year +€74,699
up €74,699 (+41.9%), from €178,466 to €253,165
of which Trade receivables: +€99,479
- Tangible fixed assets +€63,971
up €63,971 (+119%), from €53,623 to €117,594
of which Furniture and vehicles: +€68,883
- Cash +€16,490
up €16,490 (+203%), from €8,118 to €24,608
mainly Advances received (+€81,161) and Trade debts (+€40,070)
- Stocks and contracts -€13,270
down €13,270 (-40.7%), from €32,626 to €19,356
- Advances received +€81,161
new in 2025: €81,161
- Trade debts +€40,070
up €40,070 (+124%), from €32,296 to €72,366
- Staff costs +€40,061
up €40,061 (+54.0%), from €74,223 to €114,283
- Taxes -€15,626
down €15,626 (-98.7%), from €15,838 to €212
- Depreciation +€12,724
up €12,724 (+164%), from €7,755 to €20,479
- Gross operating margin -€11,213
down €11,213 (-8.1%), from €139,010 to €127,796
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.
Derived cash bridge
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 | €837,300 | €979,327 | +€142,027 | +17.0% |
| Fixed assets | 21/28 | €615,030 | €679,002 | +€63,971 | +10.4% |
| Tangible fixed assets | 22/27 | €53,623 | €117,594 | +€63,971 | +119% |
| Plant, machinery and equipment | 23 | €3,926 | €5,154 | +€1,227 | +31.3% |
| Furniture and vehicles | 24 | €8,687 | €77,570 | +€68,883 | +793% |
| Other tangible fixed assets | 26 | €41,010 | €34,871 | -€6,139 | -15.0% |
| Financial fixed assets | 28 | €561,407 | €561,407 | = | 0.0% |
| Current assets | 29/58 | €222,269 | €300,325 | +€78,055 | +35.1% |
| Stocks and contracts in progress | 3 | €32,626 | €19,356 | -€13,270 | -40.7% |
| Stocks | 30/36 | €32,626 | €19,356 | -€13,270 | -40.7% |
| Amounts receivable within one year | 40/41 | €178,466 | €253,165 | +€74,699 | +41.9% |
| Trade receivables | 40 | €143,760 | €243,239 | +€99,479 | +69.2% |
| Other amounts receivable | 41 | €34,707 | €9,926 | -€24,781 | -71.4% |
| Cash at bank and in hand | 54/58 | €8,118 | €24,608 | +€16,490 | +203% |
| Deferred charges and accrued income | 490/1 | €3,060 | €3,196 | +€137 | +4.5% |
| Total equity and liabilities | 10/49 | €837,300 | €979,327 | +€142,027 | +17.0% |
| Equity | 10/15 | €660,188 | €656,238 | -€3,950 | -0.6% |
| Contributions | 10/11 | €11,313 | €11,313 | = | 0.0% |
| Reserves | 13 | €575,724 | €575,724 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,875 | €1,875 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,875 | €1,875 | = | 0.0% |
| Distributable reserves | 133 | €573,849 | €573,849 | = | 0.0% |
| Profit (loss) carried forward | 14 | €73,151 | €69,201 | -€3,950 | -5.4% |
| Amounts payable | 17/49 | €177,112 | €323,088 | +€145,977 | +82.4% |
| Amounts payable after more than one year | 17 | €63,191 | €70,794 | +€7,603 | +12.0% |
| Financial debts | 170/4 | €63,191 | €70,794 | +€7,603 | +12.0% |
| Amounts payable within one year | 42/48 | €113,921 | €252,295 | +€138,374 | +121% |
| Current portion of amounts payable after more than one year | 42 | €12,809 | €19,462 | +€6,652 | +51.9% |
| Trade debts | 44 | €32,296 | €72,366 | +€40,070 | +124% |
| Suppliers | 440/4 | €32,296 | €72,366 | +€40,070 | +124% |
| Advances received on contracts in progress | 46 | - | €81,161 | +€81,161 | |
| Taxes, remuneration and social security | 45 | €12,450 | €22,052 | +€9,602 | +77.1% |
| Taxes | 450/3 | €2,941 | €7,159 | +€4,217 | +143% |
| Remuneration and social security | 454/9 | €9,509 | €14,893 | +€5,385 | +56.6% |
| Other amounts payable | 47/48 | €56,366 | €57,255 | +€889 | +1.6% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €74,223 | €114,283 | +€40,061 | +54.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,755 | €20,479 | +€12,724 | +164% |
| Other operating charges | 640/8 | €1,031 | €1,199 | +€169 | +16.4% |
| Gross operating margin | 9900 | €139,010 | €127,796 | -€11,213 | -8.1% |
| Operating profit (loss) | 9901 | €56,001 | -€8,165 | -€64,166 | |
| Financial income | 75/76B | €8,031 | €9,192 | +€1,162 | +14.5% |
| Recurring financial income | 75 | €8,031 | €9,192 | +€1,162 | +14.5% |
| Financial charges | 65/66B | €4,050 | €4,765 | +€715 | +17.6% |
| Recurring financial charges | 65 | €4,050 | €4,765 | +€715 | +17.6% |
| Profit (loss) for the period before taxes | 9903 | €59,982 | -€3,737 | -€63,719 | |
| Income taxes | 67/77 | €15,838 | €212 | -€15,626 | -98.7% |
| Profit (loss) for the period | 9904 | €44,143 | -€3,950 | -€48,093 | |
| Profit (loss) for the period to be appropriated | 9905 | €44,143 | -€3,950 | -€48,093 |
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 23 October 2026 via checked.be.