TRENDMINER: 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.
What changed
TRENDMINER
NACE 70.200, Business and other management consultancy
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€851,120
2024 · -€8.7m+€7.8m
Equity
-€20.5m
2024 · -€19.7m-€851,120
Cash
€743,031
2024 · €776,558-€33,527
Balance sheet total
€14.1m
2024 · €13.1m+€968,477
Largest movements
Assets
- Receivables within one year +€1.2m
up €1.2m (+25.1%), from €4.7m to €5.8m
of which Trade receivables: +€1.3m
- Financial fixed assets +€433,424
up €433,424 (+14.1%), from €3.1m to €3.5m
of which Affiliated companies: +€433,424
- Intangible fixed assets -€414,352
down €414,352 (-10.5%), from €3.9m to €3.5m
- Deferred charges and accrued income -€155,304
down €155,304 (-38.8%), from €400,496 to €245,192
Equity and liabilities
- Short-term financial debts -€25.4m
no longer reported in 2025 (was €25.4m)
- Debts after one year +€20.7m
new in 2025: €20.7m
- Current portion of long-term debt +€3.5m
new in 2025: €3.5m
- Accrued charges and deferred income +€2.1m
up €2.1m (+54.3%), from €3.9m to €5.9m
- Other debts +€964,311
up €964,311 (+286%), from €337,058 to €1.3m
Income statement
- Turnover +€5.1m
up €5.1m (+61.8%), from €8.3m to €13.5m
- Services and other goods -€2.0m
down €2.0m (-23.8%), from €8.4m to €6.4m
- Financial charges +€876,987
up €876,987 (+79.8%), from €1.1m to €2.0m
- Taxes -€816,205
down €816,205, from €435,320 to -€380,885
- Staff costs -€616,064
down €616,064 (-7.9%), from €7.8m to €7.2m
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.
Result 2024
-€8.7m
Turnover
+€5.1m
Other operating income
+€466,006
Services and other goods
+€2.0m
Staff costs
+€616,064
Depreciation
-€203,164
Other operating charges
-€18,260
Financial income
-€141,120
Financial charges
-€876,987
Taxes
+€816,205
Result 2025
-€851,120
raises the resultlowers the result
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.
From operations
+€1.7m
Investment
-€508,978
Financing
-€1.2m
Cash 2024
€776,558
From operations (derived)
+€1.7m
Net result for the year
-€851,120
Depreciation
+€524,300
Receivables within one year
-€1.2m
Deferred charges and accrued income
+€155,304
Trade debts
+€464,145
Tax, wage and social debts
-€270,464
Advances received
-€181,598
Other debts
+€964,311
Accrued charges and deferred income
+€2.1m
Investment (derived)
-€508,978
Investment in fixed assets (net)
-€508,978
Financing
-€1.2m
Debts after one year
+€20.7m
Current portion of long-term debt
+€3.5m
Short-term financial debts
-€25.4m
Cash 2025
€743,031
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €13,083,177 | €14,051,655 | +€968,477 | +7.4% |
| Fixed assets | 21/28 | €7,232,120 | €7,216,798 | -€15,322 | -0.2% |
| Intangible fixed assets | 21 | €3,936,345 | €3,521,993 | -€414,352 | -10.5% |
| Tangible fixed assets | 22/27 | €227,533 | €193,140 | -€34,394 | -15.1% |
| Plant, machinery and equipment | 23 | €82,857 | €29,821 | -€53,037 | -64.0% |
| Furniture and vehicles | 24 | €2,311 | €66,629 | +€64,318 | +2,783% |
| Other tangible fixed assets | 26 | €142,365 | €96,690 | -€45,675 | -32.1% |
| Financial fixed assets | 28 | €3,068,241 | €3,501,665 | +€433,424 | +14.1% |
| Affiliated companies | 280/1 | €2,985,000 | €3,418,424 | +€433,424 | +14.5% |
| Participating interests | 280 | €2,985,000 | €2,985,000 | = | 0.0% |
| Amounts receivable | 281 | - | €433,424 | +€433,424 | |
| Other financial fixed assets | 284/8 | €83,241 | €83,241 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €83,241 | €83,241 | = | 0.0% |
| Current assets | 29/58 | €5,851,058 | €6,834,857 | +€983,799 | +16.8% |
| Amounts receivable within one year | 40/41 | €4,674,004 | €5,846,633 | +€1.2m | +25.1% |
| Trade receivables | 40 | €4,000,120 | €5,339,681 | +€1.3m | +33.5% |
| Other amounts receivable | 41 | €673,883 | €506,952 | -€166,931 | -24.8% |
| Cash at bank and in hand | 54/58 | €776,558 | €743,031 | -€33,527 | -4.3% |
| Deferred charges and accrued income | 490/1 | €400,496 | €245,192 | -€155,304 | -38.8% |
| Total equity and liabilities | 10/49 | €13,083,177 | €14,051,655 | +€968,477 | +7.4% |
| Equity | 10/15 | -€19,665,208 | -€20,516,328 | -€851,120 | -4.3% |
| Contributions | 10/11 | €8,242,174 | €8,242,174 | = | 0.0% |
| Capital | 10 | €7,780,700 | €7,780,700 | = | 0.0% |
| Issued capital | 100 | €7,780,700 | €7,780,700 | = | 0.0% |
| Contributions outside capital | 11 | €461,474 | €461,474 | = | 0.0% |
| Share premium | 1100/10 | €461,474 | €461,474 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€27,907,382 | -€28,758,502 | -€851,120 | -3.0% |
| Amounts payable | 17/49 | €32,748,385 | €34,567,982 | +€1.8m | +5.6% |
| Amounts payable after more than one year | 17 | - | €20,652,906 | +€20.7m | |
| Financial debts | 170/4 | - | €20,652,906 | +€20.7m | |
| Other loans | 174 | - | €20,652,906 | +€20.7m | |
| Amounts payable within one year | 42/48 | €28,897,544 | €7,971,586 | -€20.9m | -72.4% |
| Current portion of amounts payable after more than one year | 42 | - | €3,500,000 | +€3.5m | |
| Financial debts | 43 | €25,402,351 | - | -€25.4m | |
| Other loans | 439 | €25,402,351 | - | -€25.4m | |
| Trade debts | 44 | €1,184,612 | €1,648,757 | +€464,145 | +39.2% |
| Suppliers | 440/4 | €1,184,612 | €1,648,757 | +€464,145 | +39.2% |
| Advances received on contracts in progress | 46 | €181,598 | - | -€181,598 | |
| Taxes, remuneration and social security | 45 | €1,791,925 | €1,521,461 | -€270,464 | -15.1% |
| Taxes | 450/3 | €576,004 | €38,909 | -€537,095 | -93.2% |
| Remuneration and social security | 454/9 | €1,215,921 | €1,482,552 | +€266,631 | +21.9% |
| Other amounts payable | 47/48 | €337,058 | €1,301,369 | +€964,311 | +286% |
| Accrued charges and deferred income | 492/3 | €3,850,841 | €5,943,490 | +€2.1m | +54.3% |
| Operating income | 70/76A | €9,277,588 | €14,887,887 | +€5.6m | +60.5% |
| Turnover | 70 | €8,324,682 | €13,468,975 | +€5.1m | +61.8% |
| Other operating income | 74 | €952,906 | €1,418,912 | +€466,006 | +48.9% |
| Operating charges | 60/66A | €16,610,852 | €14,208,633 | -€2.4m | -14.5% |
| Services and other goods | 61 | €8,449,909 | €6,442,330 | -€2.0m | -23.8% |
| Remuneration, social security and pensions | 62 | €7,826,172 | €7,210,108 | -€616,064 | -7.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €321,135 | €524,300 | +€203,164 | +63.3% |
| Other operating charges | 640/8 | €13,636 | €31,895 | +€18,260 | +134% |
| Operating profit (loss) | 9901 | -€7,333,264 | €679,253 | +€8.0m | |
| Financial income | 75/76B | €206,475 | €65,355 | -€141,120 | -68.3% |
| Recurring financial income | 75 | €206,475 | €65,355 | -€141,120 | -68.3% |
| Income from current assets | 751 | €9,226 | €44,112 | +€34,886 | +378% |
| Other financial income | 752/9 | €197,249 | €21,243 | -€176,006 | -89.2% |
| Financial charges | 65/66B | €1,099,626 | €1,976,613 | +€876,987 | +79.8% |
| Recurring financial charges | 65 | €1,099,626 | €1,976,613 | +€876,987 | +79.8% |
| Debt charges | 650 | €1,041,236 | €1,699,629 | +€658,393 | +63.2% |
| Other financial charges | 652/9 | €58,390 | €276,984 | +€218,594 | +374% |
| Profit (loss) for the period before taxes | 9903 | -€8,226,414 | -€1,232,005 | +€7.0m | +85.0% |
| Income taxes | 67/77 | €435,320 | -€380,885 | -€816,205 | |
| Taxes | 670/3 | €435,320 | €36,334 | -€398,986 | -91.7% |
| Tax adjustments and reversals of tax provisions | 77 | - | €417,219 | +€417,219 | |
| Profit (loss) for the period | 9904 | -€8,661,735 | -€851,120 | +€7.8m | +90.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€8,661,735 | -€851,120 | +€7.8m | +90.2% |
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 14 October 2026 via checked.be.