TREND 89: 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.
TREND 89
Largest movements
- Tangible fixed assets -€288,304
down €288,304 (-100.0%), from €288,304 to €0
of which Land and buildings: -€287,639
- Intangible fixed assets -€33,475
down €33,475 (-31.6%), from €105,835 to €72,361
- Profit (loss) carried forward -€241,489
down €241,489 (-25.6%), from €945,094 to €703,605
- Accrued charges and deferred income -€38,390
down €38,390 (-81.9%), from €46,848 to €8,458
- Debts after one year -€23,478
down €23,478 (-100.0%), from €23,478 to €0
- Taxes +€131,894
up €131,894, from €0 to €131,894
- Financial income +€61,246
up €61,246 (+1938.4%), from €3,160 to €64,405
- Gross operating margin -€25,552
down €25,552 (-129.9%), from -€19,674 to -€45,226
- Other operating charges -€19,397
down €19,397 (-18.0%), from €107,647 to €88,250
- Depreciation -€12,255
down €12,255 (-26.8%), from €45,730 to €33,475
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 | €1,235,817 | €923,783 | -€312,034 | -25.2% |
| Fixed assets | 21/28 | €906,639 | €584,861 | -€321,779 | -35.5% |
| Intangible fixed assets | 21 | €105,835 | €72,361 | -€33,475 | -31.6% |
| Tangible fixed assets | 22/27 | €288,304 | €0 | -€288,304 | -100.0% |
| Land and buildings | 22 | €287,639 | €0 | -€287,639 | -100.0% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €665 | €0 | -€665 | -100.0% |
| Financial fixed assets | 28 | €512,500 | €512,500 | = | 0.0% |
| Current assets | 29/58 | €329,178 | €338,923 | +€9,745 | +3.0% |
| Amounts receivable within one year | 40/41 | €322,831 | €325,696 | +€2,865 | +0.9% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €322,831 | €325,696 | +€2,865 | +0.9% |
| Cash at bank and in hand | 54/58 | €3,341 | €3,467 | +€127 | +3.8% |
| Deferred charges and accrued income | 490/1 | €3,006 | €9,760 | +€6,754 | +224.7% |
| Total equity and liabilities | 10/49 | €1,235,817 | €923,783 | -€312,034 | -25.2% |
| Equity | 10/15 | €1,071,954 | €830,464 | -€241,489 | -22.5% |
| Contributions | 10/11 | €125,000 | €125,000 | = | 0.0% |
| Capital | 10 | €125,000 | €125,000 | = | 0.0% |
| Issued capital | 100 | €125,000 | €125,000 | = | 0.0% |
| Reserves | 13 | €1,859 | €1,859 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Legal reserve | 130 | €1,859 | €1,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | €945,094 | €703,605 | -€241,489 | -25.6% |
| Amounts payable | 17/49 | €163,863 | €93,319 | -€70,544 | -43.1% |
| Amounts payable after more than one year | 17 | €23,478 | €0 | -€23,478 | -100.0% |
| Financial debts | 170/4 | €23,478 | €0 | -€23,478 | -100.0% |
| Amounts payable within one year | 42/48 | €93,538 | €84,861 | -€8,677 | -9.3% |
| Current portion of amounts payable after more than one year | 42 | €2,244 | €0 | -€2,244 | -100.0% |
| Trade debts | 44 | €8,032 | €5,772 | -€2,260 | -28.1% |
| Suppliers | 440/4 | €8,032 | €5,772 | -€2,260 | -28.1% |
| Advances received on contracts in progress | 46 | €4,172 | €0 | -€4,172 | -100.0% |
| Other amounts payable | 47/48 | €79,089 | €79,089 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €46,848 | €8,458 | -€38,390 | -81.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,730 | €33,475 | -€12,255 | -26.8% |
| Other operating charges | 640/8 | €107,647 | €88,250 | -€19,397 | -18.0% |
| Gross operating margin | 9900 | -€19,674 | -€45,226 | -€25,552 | -129.9% |
| Operating profit (loss) | 9901 | -€173,051 | -€166,950 | +€6,101 | +3.5% |
| Financial income | 75/76B | €3,160 | €64,405 | +€61,246 | +1938.4% |
| Recurring financial income | 75 | €3,160 | €64,405 | +€61,246 | +1938.4% |
| Financial charges | 65/66B | €9,138 | €7,050 | -€2,089 | -22.9% |
| Recurring financial charges | 65 | €9,138 | €7,050 | -€2,089 | -22.9% |
| Profit (loss) for the period before taxes | 9903 | -€179,030 | -€109,595 | +€69,435 | +38.8% |
| Income taxes | 67/77 | €0 | €131,894 | +€131,894 | |
| Profit (loss) for the period | 9904 | -€179,030 | -€241,489 | -€62,460 | -34.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€179,030 | -€241,489 | -€62,460 | -34.9% |
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 7 October 2026 via checked.be.