TRENSON: what changed
Two fiscal 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.
TRENSON
Largest movements
- Receivables within one year +€33,802
up €33,802 (+16.0%), from €210,686 to €244,488
of which Other amounts receivable: +€70,545
- Cash +€23,370
up €23,370 (+24.2%), from €96,556 to €119,926
mainly Net result for the year (+€81,592) and Other debts (+€47,033)
- Tangible fixed assets +€5,435
up €5,435 (+19.5%), from €27,870 to €33,304
of which Furniture and vehicles: +€7,687
- Other debts +€47,033
up €47,033, from €0 to €47,033
- Trade debts -€29,197
down €29,197 (-35.0%), from €83,415 to €54,219
- Reserves +€25,259
up €25,259 (+12.0%), from €210,055 to €235,314
of which Distributable reserves: +€25,259
- Tax, wage and social debts +€17,151
up €17,151 (+42.0%), from €40,871 to €58,022
of which Taxes: +€18,514
- Profit (loss) carried forward +€6,824
up €6,824, from -€6,824 to €0
- Staff costs +€10,654
up €10,654 (+10.9%), from €97,764 to €108,418
- Gross operating margin +€10,608
up €10,608 (+4.6%), from €232,602 to €243,210
- Taxes -€6,324
down €6,324 (-11.4%), from €55,668 to €49,344
- Depreciation +€2,571
up €2,571 (+73.6%), from €3,494 to €6,066
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.
Cash bridge derived
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 | €350,934 | €413,202 | +€62,268 | +17.7% |
| Fixed assets | 21/28 | €28,990 | €34,425 | +€5,435 | +18.7% |
| Tangible fixed assets | 22/27 | €27,870 | €33,304 | +€5,435 | +19.5% |
| Land and buildings | 22 | €16,764 | €10,720 | -€6,044 | -36.1% |
| Plant, machinery and equipment | 23 | €6,449 | €10,241 | +€3,792 | +58.8% |
| Furniture and vehicles | 24 | €4,656 | €12,343 | +€7,687 | +165.1% |
| Financial fixed assets | 28 | €1,120 | €1,120 | = | 0.0% |
| Current assets | 29/58 | €321,944 | €378,778 | +€56,833 | +17.7% |
| Stocks and contracts in progress | 3 | €13,010 | €12,900 | -€110 | -0.8% |
| Stocks | 30/36 | €13,010 | €12,900 | -€110 | -0.8% |
| Amounts receivable within one year | 40/41 | €210,686 | €244,488 | +€33,802 | +16.0% |
| Trade receivables | 40 | €150,572 | €113,829 | -€36,744 | -24.4% |
| Other amounts receivable | 41 | €60,114 | €130,659 | +€70,545 | +117.4% |
| Cash at bank and in hand | 54/58 | €96,556 | €119,926 | +€23,370 | +24.2% |
| Deferred charges and accrued income | 490/1 | €1,692 | €1,464 | -€228 | -13.5% |
| Total equity and liabilities | 10/49 | €350,934 | €413,202 | +€62,268 | +17.7% |
| Equity | 10/15 | €221,823 | €253,906 | +€32,083 | +14.5% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €210,055 | €235,314 | +€25,259 | +12.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Tax-exempt reserves | 132 | €18,985 | €18,985 | = | 0.0% |
| Distributable reserves | 133 | €189,211 | €214,470 | +€25,259 | +13.3% |
| Profit (loss) carried forward | 14 | -€6,824 | €0 | +€6,824 | |
| Amounts payable | 17/49 | €129,112 | €159,297 | +€30,185 | +23.4% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €129,112 | €159,297 | +€30,185 | +23.4% |
| Current portion of amounts payable after more than one year | 42 | €4,825 | €0 | -€4,825 | -100.0% |
| Financial debts | 43 | €0 | €22 | +€22 | |
| Credit institutions | 430/8 | €0 | €22 | +€22 | |
| Trade debts | 44 | €83,415 | €54,219 | -€29,197 | -35.0% |
| Suppliers | 440/4 | €83,415 | €54,219 | -€29,197 | -35.0% |
| Taxes, remuneration and social security | 45 | €40,871 | €58,022 | +€17,151 | +42.0% |
| Taxes | 450/3 | €28,553 | €47,066 | +€18,514 | +64.8% |
| Remuneration and social security | 454/9 | €12,318 | €10,956 | -€1,362 | -11.1% |
| Other amounts payable | 47/48 | €0 | €47,033 | +€47,033 | |
| Non-recurring operating income | 76A | €0 | €15,321 | +€15,321 | |
| Remuneration, social security and pensions | 62 | €97,764 | €108,418 | +€10,654 | +10.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,494 | €6,066 | +€2,571 | +73.6% |
| Other operating charges | 640/8 | €543 | €1,233 | +€690 | +127.0% |
| Gross operating margin | 9900 | €232,602 | €243,210 | +€10,608 | +4.6% |
| Operating profit (loss) | 9901 | €130,801 | €127,494 | -€3,307 | -2.5% |
| Financial income | 75/76B | €1,762 | €3,827 | +€2,065 | +117.2% |
| Recurring financial income | 75 | €1,762 | €3,827 | +€2,065 | +117.2% |
| Financial charges | 65/66B | €550 | €385 | -€165 | -30.0% |
| Recurring financial charges | 65 | €550 | €385 | -€165 | -30.0% |
| Profit (loss) for the period before taxes | 9903 | €132,013 | €130,936 | -€1,077 | -0.8% |
| Income taxes | 67/77 | €55,668 | €49,344 | -€6,324 | -11.4% |
| Profit (loss) for the period | 9904 | €76,345 | €81,592 | +€5,247 | +6.9% |
| Profit (loss) for the period to be appropriated | 9905 | €76,345 | €81,592 | +€5,247 | +6.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.