TRENDHUIS: 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.
TRENDHUIS
Largest movements
- Cash -€89,775
down €89,775 (-53.9%), from €166,659 to €76,884
mainly Other debts (-€65,263) and Short-term financial debts (-€32,108)
- Receivables within one year -€11,654
down €11,654 (-4.7%), from €248,228 to €236,574
of which Trade receivables: -€28,519
- Tangible fixed assets -€9,133
down €9,133 (-60.9%), from €14,995 to €5,862
of which Furniture and vehicles: -€7,035
- Deferred charges and accrued income -€6,585
down €6,585 (-83.0%), from €7,936 to €1,352
- Other debts -€65,263
no longer reported in 2025 (was €65,263)
- Short-term financial debts -€32,108
down €32,108 (-23.6%), from €135,926 to €103,817
- Trade debts -€20,066
down €20,066 (-40.9%), from €49,110 to €29,043
- Staff costs -€108,464
down €108,464 (-22.9%), from €473,377 to €364,913
- Gross operating margin -€103,818
down €103,818 (-20.8%), from €499,868 to €396,051
- Taxes +€9,984
up €9,984, from -€247 to €9,737
- Depreciation -€8,075
down €8,075 (-43.2%), from €18,708 to €10,633
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 | €459,498 | €340,851 | -€118,647 | -25.8% |
| Fixed assets | 21/28 | €36,635 | €26,002 | -€10,633 | -29.0% |
| Intangible fixed assets | 21 | €8,515 | €7,015 | -€1,500 | -17.6% |
| Tangible fixed assets | 22/27 | €14,995 | €5,862 | -€9,133 | -60.9% |
| Plant, machinery and equipment | 23 | €3,384 | €1,286 | -€2,098 | -62.0% |
| Furniture and vehicles | 24 | €11,610 | €4,576 | -€7,035 | -60.6% |
| Financial fixed assets | 28 | €13,125 | €13,125 | = | 0.0% |
| Current assets | 29/58 | €422,863 | €314,849 | -€108,014 | -25.5% |
| Amounts receivable within one year | 40/41 | €248,228 | €236,574 | -€11,654 | -4.7% |
| Trade receivables | 40 | €247,299 | €218,780 | -€28,519 | -11.5% |
| Other amounts receivable | 41 | €929 | €17,794 | +€16,865 | +1,815% |
| Current investments | 50/53 | €40 | €40 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €166,659 | €76,884 | -€89,775 | -53.9% |
| Deferred charges and accrued income | 490/1 | €7,936 | €1,352 | -€6,585 | -83.0% |
| Total equity and liabilities | 10/49 | €459,498 | €340,851 | -€118,647 | -25.8% |
| Equity | 10/15 | €131,872 | €132,716 | +€844 | +0.6% |
| Contributions | 10/11 | €75,000 | €75,000 | = | 0.0% |
| Reserves | 13 | €4,639 | €4,639 | = | 0.0% |
| Non-distributable reserves | 130/1 | €4,639 | €4,639 | = | 0.0% |
| Reserves not available under the articles | 1311 | €4,639 | €4,639 | = | 0.0% |
| Profit (loss) carried forward | 14 | €52,233 | €53,077 | +€844 | +1.6% |
| Amounts payable | 17/49 | €327,626 | €208,135 | -€119,491 | -36.5% |
| Amounts payable within one year | 42/48 | €327,626 | €207,887 | -€119,739 | -36.5% |
| Financial debts | 43 | €135,926 | €103,817 | -€32,108 | -23.6% |
| Credit institutions | 430/8 | €135,926 | €103,817 | -€32,108 | -23.6% |
| Trade debts | 44 | €49,110 | €29,043 | -€20,066 | -40.9% |
| Suppliers | 440/4 | €49,110 | €29,043 | -€20,066 | -40.9% |
| Taxes, remuneration and social security | 45 | €77,328 | €75,027 | -€2,301 | -3.0% |
| Taxes | 450/3 | €33,809 | €36,228 | +€2,419 | +7.2% |
| Remuneration and social security | 454/9 | €43,518 | €38,799 | -€4,720 | -10.8% |
| Other amounts payable | 47/48 | €65,263 | - | -€65,263 | |
| Accrued charges and deferred income | 492/3 | - | €248 | +€248 | |
| Non-recurring operating income | 76A | €1 | - | -€1 | |
| Remuneration, social security and pensions | 62 | €473,377 | €364,913 | -€108,464 | -22.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,708 | €10,633 | -€8,075 | -43.2% |
| Other operating charges | 640/8 | €1,480 | €2,709 | +€1,229 | +83.0% |
| Gross operating margin | 9900 | €499,868 | €396,051 | -€103,818 | -20.8% |
| Operating profit (loss) | 9901 | €6,303 | €17,795 | +€11,493 | +182% |
| Financial income | 75/76B | €0 | €16 | +€16 | +4,733% |
| Recurring financial income | 75 | €0 | €16 | +€16 | +4,733% |
| Financial charges | 65/66B | €6,335 | €7,231 | +€896 | +14.1% |
| Recurring financial charges | 65 | €6,335 | €7,231 | +€896 | +14.1% |
| Profit (loss) for the period before taxes | 9903 | -€32 | €10,580 | +€10,613 | |
| Income taxes | 67/77 | -€247 | €9,737 | +€9,984 | |
| Profit (loss) for the period | 9904 | €215 | €844 | +€629 | +293% |
| Profit (loss) for the period to be appropriated | 9905 | €215 | €844 | +€629 | +293% |
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 19 October 2026 via checked.be.