TRENDY BAGS: what changed
TRENDY BAGS
Largest movements
- Intangible fixed assets -€72,500
down €72,500 (-11.8%), from €615,952 to €543,452
- Stocks and contracts -€48,197
down €48,197 (-14.2%), from €340,386 to €292,189
- Cash -€41,477
down €41,477 (-14.4%), from €288,375 to €246,898
mainly Trade debts (-€362,371) and Other debts (-€41,455)
- Receivables within one year +€37,758
up €37,758 (+127%), from €29,773 to €67,531
of which Other amounts receivable: +€30,722
- Tangible fixed assets -€23,118
down €23,118 (-4.3%), from €532,220 to €509,102
of which Assets under construction and advance payments: -€189,517
- Trade debts -€362,371
down €362,371 (-97.7%), from €370,766 to €8,396
- Current portion of long-term debt +€78,334
up €78,334 (+41.8%), from €187,536 to €265,870
- Debts after one year +€67,774
up €67,774 (+10.2%), from €665,451 to €733,225
- Reserves +€67,545
up €67,545 (+15.4%), from €437,423 to €504,968
- Other debts -€41,455
no longer reported in 2025 (was €41,455)
- Gross operating margin -€48,426
down €48,426 (-10.8%), from €449,730 to €401,305
- Financial income +€24,716
up €24,716 (+287%), from €8,621 to €33,337
of which Non-recurring financial income: +€24,721
- Staff costs +€15,241
up €15,241 (+11.3%), from €135,104 to €150,345
- Depreciation +€8,744
up €8,744 (+7.6%), from €114,661 to €123,405
- Financial charges +€5,124
up €5,124 (+9.7%), from €52,873 to €57,996
of which Non-recurring financial charges: +€5,713
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,828,796 | €1,661,563 | -€167,234 | -9.1% |
| Fixed assets | 21/28 | €1,148,172 | €1,052,554 | -€95,618 | -8.3% |
| Intangible fixed assets | 21 | €615,952 | €543,452 | -€72,500 | -11.8% |
| Tangible fixed assets | 22/27 | €532,220 | €509,102 | -€23,118 | -4.3% |
| Land and buildings | 22 | €159,974 | €283,957 | +€123,984 | +77.5% |
| Plant, machinery and equipment | 23 | €1,066 | €115 | -€950 | -89.2% |
| Furniture and vehicles | 24 | €37,610 | €100,200 | +€62,590 | +166% |
| Other tangible fixed assets | 26 | €144,054 | €124,830 | -€19,224 | -13.3% |
| Assets under construction and advance payments | 27 | €189,517 | - | -€189,517 | |
| Current assets | 29/58 | €680,624 | €609,008 | -€71,616 | -10.5% |
| Stocks and contracts in progress | 3 | €340,386 | €292,189 | -€48,197 | -14.2% |
| Stocks | 30/36 | €340,386 | €292,189 | -€48,197 | -14.2% |
| Amounts receivable within one year | 40/41 | €29,773 | €67,531 | +€37,758 | +127% |
| Trade receivables | 40 | €22,753 | €29,788 | +€7,035 | +30.9% |
| Other amounts receivable | 41 | €7,020 | €37,743 | +€30,722 | +438% |
| Cash at bank and in hand | 54/58 | €288,375 | €246,898 | -€41,477 | -14.4% |
| Deferred charges and accrued income | 490/1 | €22,090 | €2,391 | -€19,699 | -89.2% |
| Total equity and liabilities | 10/49 | €1,828,796 | €1,661,563 | -€167,234 | -9.1% |
| Equity | 10/15 | €454,426 | €520,991 | +€66,564 | +14.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €437,423 | €504,968 | +€67,545 | +15.4% |
| Distributable reserves | 133 | €437,423 | €504,968 | +€67,545 | +15.4% |
| Investment grants | 15 | €10,803 | €9,822 | -€981 | -9.1% |
| Provisions and deferred taxes | 16 | €2,806 | €2,560 | -€245 | -8.7% |
| Deferred taxes | 168 | €2,806 | €2,560 | -€245 | -8.7% |
| Amounts payable | 17/49 | €1,371,565 | €1,138,012 | -€233,553 | -17.0% |
| Amounts payable after more than one year | 17 | €665,451 | €733,225 | +€67,774 | +10.2% |
| Financial debts | 170/4 | €665,451 | €733,225 | +€67,774 | +10.2% |
| Amounts payable within one year | 42/48 | €704,164 | €404,787 | -€299,377 | -42.5% |
| Current portion of amounts payable after more than one year | 42 | €187,536 | €265,870 | +€78,334 | +41.8% |
| Trade debts | 44 | €370,766 | €8,396 | -€362,371 | -97.7% |
| Suppliers | 440/4 | €370,766 | €8,396 | -€362,371 | -97.7% |
| Taxes, remuneration and social security | 45 | €104,406 | €130,521 | +€26,115 | +25.0% |
| Taxes | 450/3 | €89,068 | €114,091 | +€25,022 | +28.1% |
| Remuneration and social security | 454/9 | €15,337 | €16,430 | +€1,093 | +7.1% |
| Other amounts payable | 47/48 | €41,455 | - | -€41,455 | |
| Accrued charges and deferred income | 492/3 | €1,950 | - | -€1,950 | |
| Remuneration, social security and pensions | 62 | €135,104 | €150,345 | +€15,241 | +11.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €114,661 | €123,405 | +€8,744 | +7.6% |
| Other operating charges | 640/8 | €5,505 | €6,346 | +€841 | +15.3% |
| Non-recurring operating charges | 66A | €7,326 | - | -€7,326 | |
| Gross operating margin | 9900 | €449,730 | €401,305 | -€48,426 | -10.8% |
| Operating profit (loss) | 9901 | €187,135 | €121,208 | -€65,926 | -35.2% |
| Financial income | 75/76B | €8,621 | €33,337 | +€24,716 | +287% |
| Recurring financial income | 75 | €8,621 | €8,616 | -€5 | -0.1% |
| Non-recurring financial income | 76B | - | €24,721 | +€24,721 | |
| Financial charges | 65/66B | €52,873 | €57,996 | +€5,124 | +9.7% |
| Recurring financial charges | 65 | €52,873 | €52,284 | -€589 | -1.1% |
| Non-recurring financial charges | 66B | - | €5,713 | +€5,713 | |
| Profit (loss) for the period before taxes | 9903 | €142,883 | €96,549 | -€46,334 | -32.4% |
| Transfer from deferred taxes | 780 | €245 | €245 | = | 0.0% |
| Income taxes | 67/77 | €31,874 | €29,249 | -€2,624 | -8.2% |
| Profit (loss) for the period | 9904 | €111,254 | €67,545 | -€43,709 | -39.3% |
| Profit (loss) for the period to be appropriated | 9905 | €111,254 | €67,545 | -€43,709 | -39.3% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.