TREMA: 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.
TREMA
Largest movements
- Current investments +€52,605
up €52,605 (+17.5%), from €300,000 to €352,605
- Reserves +€49,318
up €49,318 (+7.9%), from €622,172 to €671,490
- Short-term financial debts -€34,671
down €34,671 (-50.0%), from €69,342 to €34,671
- Other debts +€28,215
up €28,215 (+116.9%), from €24,141 to €52,356
- Gross operating margin +€19,401
up €19,401 (+22.7%), from €85,624 to €105,025
- Financial income -€5,310
down €5,310 (-60.9%), from €8,726 to €3,416
- Taxes +€4,356
up €4,356 (+23.4%), from €18,612 to €22,968
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 | €2,516,142 | €2,558,785 | +€42,642 | +1.7% |
| Fixed assets | 21/28 | €1,961,997 | €1,963,206 | +€1,209 | +0.1% |
| Tangible fixed assets | 22/27 | - | €1,209 | +€1,209 | |
| Furniture and vehicles | 24 | - | €1,209 | +€1,209 | |
| Financial fixed assets | 28 | €1,961,997 | €1,961,997 | = | 0.0% |
| Current assets | 29/58 | €554,145 | €595,579 | +€41,433 | +7.5% |
| Amounts receivable within one year | 40/41 | €38,615 | €44,292 | +€5,677 | +14.7% |
| Trade receivables | 40 | €840 | €4,235 | +€3,395 | +404.1% |
| Other amounts receivable | 41 | €37,775 | €40,057 | +€2,282 | +6.0% |
| Current investments | 50/53 | €300,000 | €352,605 | +€52,605 | +17.5% |
| Cash at bank and in hand | 54/58 | €215,531 | €198,682 | -€16,848 | -7.8% |
| Total equity and liabilities | 10/49 | €2,516,142 | €2,558,785 | +€42,642 | +1.7% |
| Equity | 10/15 | €1,529,172 | €1,578,490 | +€49,318 | +3.2% |
| Contributions | 10/11 | €907,000 | €907,000 | = | 0.0% |
| Reserves | 13 | €622,172 | €671,490 | +€49,318 | +7.9% |
| Distributable reserves | 133 | €622,172 | €671,490 | +€49,318 | +7.9% |
| Amounts payable | 17/49 | €986,971 | €980,295 | -€6,676 | -0.7% |
| Amounts payable after more than one year | 17 | €889,000 | €889,000 | = | 0.0% |
| Financial debts | 170/4 | €889,000 | €889,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €97,587 | €91,295 | -€6,292 | -6.4% |
| Financial debts | 43 | €69,342 | €34,671 | -€34,671 | -50.0% |
| Credit institutions | 430/8 | €69,342 | €34,671 | -€34,671 | -50.0% |
| Trade debts | 44 | €773 | €3,105 | +€2,332 | +301.7% |
| Suppliers | 440/4 | €773 | €3,105 | +€2,332 | +301.7% |
| Taxes, remuneration and social security | 45 | €3,331 | €1,162 | -€2,169 | -65.1% |
| Taxes | 450/3 | €3,331 | €1,162 | -€2,169 | -65.1% |
| Other amounts payable | 47/48 | €24,141 | €52,356 | +€28,215 | +116.9% |
| Accrued charges and deferred income | 492/3 | €384 | €0 | -€384 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €189 | +€189 | |
| Other operating charges | 640/8 | €1,183 | €1,225 | +€42 | +3.6% |
| Gross operating margin | 9900 | €85,624 | €105,025 | +€19,401 | +22.7% |
| Operating profit (loss) | 9901 | €84,441 | €103,611 | +€19,170 | +22.7% |
| Financial income | 75/76B | €8,726 | €3,416 | -€5,310 | -60.9% |
| Recurring financial income | 75 | €8,726 | €3,416 | -€5,310 | -60.9% |
| Financial charges | 65/66B | €34,671 | €34,740 | +€69 | +0.2% |
| Recurring financial charges | 65 | €34,671 | €34,740 | +€69 | +0.2% |
| Profit (loss) for the period before taxes | 9903 | €58,496 | €72,287 | +€13,791 | +23.6% |
| Income taxes | 67/77 | €18,612 | €22,968 | +€4,356 | +23.4% |
| Profit (loss) for the period | 9904 | €39,883 | €49,318 | +€9,435 | +23.7% |
| Profit (loss) for the period to be appropriated | 9905 | €39,883 | €49,318 | +€9,435 | +23.7% |
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 2 October 2026 via checked.be.