TRENDWOLVES: 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.
TRENDWOLVES
Largest movements
- Cash +€71,263
up €71,263 (+193%), from €36,954 to €108,217
mainly Net result for the year (+€62,064) and Receivables within one year (+€57,522)
- Receivables within one year -€57,522
down €57,522 (-70.7%), from €81,311 to €23,789
of which Trade receivables: -€46,684
- Deferred charges and accrued income -€13,506
down €13,506 (-31.5%), from €42,838 to €29,332
- Intangible fixed assets +€4,105
new in 2025: €4,105
- Profit (loss) carried forward +€62,064
up €62,064 (+18.2%), from -€340,552 to -€278,488
- Debts after one year -€37,709
down €37,709 (-13.0%), from €291,016 to €253,306
- Tax, wage and social debts +€26,172
up €26,172 (+351%), from €7,467 to €33,639
of which Taxes: +€19,341
- Current portion of long-term debt -€23,853
down €23,853 (-37.4%), from €63,830 to €39,977
- Trade debts -€16,483
down €16,483 (-80.4%), from €20,492 to €4,010
- Gross operating margin +€66,754
up €66,754 (+49.7%), from €134,392 to €201,146
- Staff costs +€42,904
up €42,904 (+60.2%), from €71,213 to €114,118
- Financial charges -€5,112
down €5,112 (-36.8%), from €13,907 to €8,795
- Depreciation -€4,744
down €4,744 (-84.9%), from €5,586 to €842
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 | €165,417 | €169,210 | +€3,793 | +2.3% |
| Fixed assets | 21/28 | €4,315 | €7,874 | +€3,558 | +82.5% |
| Intangible fixed assets | 21 | - | €4,105 | +€4,105 | |
| Tangible fixed assets | 22/27 | €2,185 | €1,639 | -€546 | -25.0% |
| Furniture and vehicles | 24 | €2,185 | €1,639 | -€546 | -25.0% |
| Financial fixed assets | 28 | €2,130 | €2,130 | = | 0.0% |
| Current assets | 29/58 | €161,102 | €161,337 | +€235 | +0.1% |
| Amounts receivable within one year | 40/41 | €81,311 | €23,789 | -€57,522 | -70.7% |
| Trade receivables | 40 | €70,473 | €23,789 | -€46,684 | -66.2% |
| Other amounts receivable | 41 | €10,838 | €0 | -€10,838 | -100% |
| Cash at bank and in hand | 54/58 | €36,954 | €108,217 | +€71,263 | +193% |
| Deferred charges and accrued income | 490/1 | €42,838 | €29,332 | -€13,506 | -31.5% |
| Total equity and liabilities | 10/49 | €165,417 | €169,210 | +€3,793 | +2.3% |
| Equity | 10/15 | -€240,182 | -€178,118 | +€62,064 | +25.8% |
| Contributions | 10/11 | €91,200 | €91,200 | = | 0.0% |
| Capital | 10 | €91,200 | €91,200 | = | 0.0% |
| Issued capital | 100 | €91,200 | €91,200 | = | 0.0% |
| Reserves | 13 | €9,170 | €9,170 | = | 0.0% |
| Non-distributable reserves | 130/1 | €9,120 | €9,120 | = | 0.0% |
| Legal reserve | 130 | €9,120 | €9,120 | = | 0.0% |
| Tax-exempt reserves | 132 | €50 | €50 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€340,552 | -€278,488 | +€62,064 | +18.2% |
| Amounts payable | 17/49 | €405,599 | €347,329 | -€58,270 | -14.4% |
| Amounts payable after more than one year | 17 | €291,016 | €253,306 | -€37,709 | -13.0% |
| Financial debts | 170/4 | €291,016 | €253,306 | -€37,709 | -13.0% |
| Amounts payable within one year | 42/48 | €108,290 | €91,148 | -€17,142 | -15.8% |
| Current portion of amounts payable after more than one year | 42 | €63,830 | €39,977 | -€23,853 | -37.4% |
| Trade debts | 44 | €20,492 | €4,010 | -€16,483 | -80.4% |
| Suppliers | 440/4 | €20,492 | €4,010 | -€16,483 | -80.4% |
| Taxes, remuneration and social security | 45 | €7,467 | €33,639 | +€26,172 | +351% |
| Taxes | 450/3 | €0 | €19,341 | +€19,341 | |
| Remuneration and social security | 454/9 | €7,467 | €14,298 | +€6,832 | +91.5% |
| Other amounts payable | 47/48 | €16,502 | €13,522 | -€2,979 | -18.1% |
| Accrued charges and deferred income | 492/3 | €6,294 | €2,875 | -€3,419 | -54.3% |
| Remuneration, social security and pensions | 62 | €71,213 | €114,118 | +€42,904 | +60.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,586 | €842 | -€4,744 | -84.9% |
| Other operating charges | 640/8 | €1,574 | €1,841 | +€267 | +17.0% |
| Non-recurring operating charges | 66A | €13,506 | €13,506 | = | 0.0% |
| Gross operating margin | 9900 | €134,392 | €201,146 | +€66,754 | +49.7% |
| Operating profit (loss) | 9901 | €42,513 | €70,840 | +€28,327 | +66.6% |
| Financial income | 75/76B | €1,461 | €19 | -€1,441 | -98.7% |
| Recurring financial income | 75 | €1,461 | €19 | -€1,441 | -98.7% |
| Financial charges | 65/66B | €13,907 | €8,795 | -€5,112 | -36.8% |
| Recurring financial charges | 65 | €13,907 | €8,795 | -€5,112 | -36.8% |
| Profit (loss) for the period before taxes | 9903 | €30,066 | €62,064 | +€31,997 | +106% |
| Profit (loss) for the period | 9904 | €30,066 | €62,064 | +€31,997 | +106% |
| Profit (loss) for the period to be appropriated | 9905 | €30,066 | €62,064 | +€31,997 | +106% |
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 18 October 2026 via checked.be.