TRENDVERDI: 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.
TRENDVERDI
Largest movements
- Cash +€55,887
up €55,887 (+1,059%), from €5,277 to €61,163
mainly Other debts (+€36,470) and Accrued charges and deferred income (+€29,214)
- Receivables after one year +€52,854
new in 2025: €52,854
- Tangible fixed assets -€15,557
down €15,557 (-23.8%), from €65,427 to €49,870
of which Furniture and vehicles: -€14,422
- Deferred charges and accrued income -€5,959
down €5,959 (-87.4%), from €6,818 to €859
- Receivables within one year +€4,032
up €4,032 (+2.9%), from €141,251 to €145,283
of which Trade receivables: +€2,174
- Other debts +€36,470
up €36,470 (+70.0%), from €52,125 to €88,595
- Accrued charges and deferred income +€29,214
up €29,214 (+5,961%), from €490 to €29,704
- Profit (loss) carried forward +€22,051
up €22,051 (+22.7%), from €97,125 to €119,177
- Tax, wage and social debts +€13,828
up €13,828 (+35.2%), from €39,340 to €53,168
of which Taxes: +€23,097
- Short-term financial debts -€8,021
no longer reported in 2025 (was €8,021)
- Gross operating margin +€125,320
up €125,320 (+54.6%), from €229,679 to €354,999
- Staff costs +€104,341
up €104,341 (+52.2%), from €199,888 to €304,229
- Taxes +€6,664
up €6,664 (+177%), from €3,767 to €10,431
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 | €231,452 | €322,710 | +€91,257 | +39.4% |
| Fixed assets | 21/28 | €78,107 | €62,550 | -€15,557 | -19.9% |
| Tangible fixed assets | 22/27 | €65,427 | €49,870 | -€15,557 | -23.8% |
| Plant, machinery and equipment | 23 | €5,136 | €4,002 | -€1,134 | -22.1% |
| Furniture and vehicles | 24 | €60,291 | €45,868 | -€14,422 | -23.9% |
| Financial fixed assets | 28 | €12,680 | €12,680 | = | 0.0% |
| Current assets | 29/58 | €153,346 | €260,160 | +€106,814 | +69.7% |
| Amounts receivable after more than one year | 29 | - | €52,854 | +€52,854 | |
| Other amounts receivable | 291 | - | €52,854 | +€52,854 | |
| Amounts receivable within one year | 40/41 | €141,251 | €145,283 | +€4,032 | +2.9% |
| Trade receivables | 40 | €141,251 | €143,425 | +€2,174 | +1.5% |
| Other amounts receivable | 41 | - | €1,858 | +€1,858 | |
| Cash at bank and in hand | 54/58 | €5,277 | €61,163 | +€55,887 | +1,059% |
| Deferred charges and accrued income | 490/1 | €6,818 | €859 | -€5,959 | -87.4% |
| Total equity and liabilities | 10/49 | €231,452 | €322,710 | +€91,257 | +39.4% |
| Equity | 10/15 | €117,585 | €139,637 | +€22,051 | +18.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €97,125 | €119,177 | +€22,051 | +22.7% |
| Amounts payable | 17/49 | €113,867 | €183,073 | +€69,206 | +60.8% |
| Amounts payable after more than one year | 17 | €1,744 | - | -€1,744 | |
| Financial debts | 170/4 | €1,744 | - | -€1,744 | |
| Amounts payable within one year | 42/48 | €111,633 | €153,369 | +€41,736 | +37.4% |
| Current portion of amounts payable after more than one year | 42 | €10,848 | €8,750 | -€2,098 | -19.3% |
| Financial debts | 43 | €8,021 | - | -€8,021 | |
| Credit institutions | 430/8 | €8,021 | - | -€8,021 | |
| Trade debts | 44 | €1,300 | €2,857 | +€1,557 | +120% |
| Suppliers | 440/4 | €1,300 | €2,857 | +€1,557 | +120% |
| Taxes, remuneration and social security | 45 | €39,340 | €53,168 | +€13,828 | +35.2% |
| Taxes | 450/3 | €21,476 | €44,573 | +€23,097 | +108% |
| Remuneration and social security | 454/9 | €17,864 | €8,595 | -€9,269 | -51.9% |
| Other amounts payable | 47/48 | €52,125 | €88,595 | +€36,470 | +70.0% |
| Accrued charges and deferred income | 492/3 | €490 | €29,704 | +€29,214 | +5,961% |
| Non-recurring operating income | 76A | €452 | - | -€452 | |
| Remuneration, social security and pensions | 62 | €199,888 | €304,229 | +€104,341 | +52.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,285 | €15,557 | +€272 | +1.8% |
| Other operating charges | 640/8 | €118 | €240 | +€122 | +103% |
| Gross operating margin | 9900 | €229,679 | €354,999 | +€125,320 | +54.6% |
| Operating profit (loss) | 9901 | €14,388 | €34,973 | +€20,586 | +143% |
| Financial charges | 65/66B | €2,200 | €2,490 | +€290 | +13.2% |
| Recurring financial charges | 65 | €2,200 | €2,490 | +€290 | +13.2% |
| Profit (loss) for the period before taxes | 9903 | €12,187 | €32,483 | +€20,295 | +167% |
| Income taxes | 67/77 | €3,767 | €10,431 | +€6,664 | +177% |
| Profit (loss) for the period | 9904 | €8,420 | €22,051 | +€13,631 | +162% |
| Profit (loss) for the period to be appropriated | 9905 | €8,420 | €22,051 | +€13,631 | +162% |
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 17 October 2026 via checked.be.