Trenta-sette: 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.
Trenta-sette
Largest movements
- Tangible fixed assets -€65,193
down €65,193 (-6.0%), from €1.1m to €1.0m
of which Land and buildings: -€62,732
- Receivables within one year +€65,000
up €65,000 (+1069.8%), from €6,076 to €71,077
of which Trade receivables: +€66,686
- Cash -€35,867
down €35,867 (-48.7%), from €73,602 to €37,735
mainly Debts after one year (-€74,611) and Contributions, distributions and other (-€66,474)
- Debts after one year -€74,611
down €74,611 (-13.4%), from €558,588 to €483,977
- Trade debts +€27,919
up €27,919 (+51.1%), from €54,616 to €82,535
- Staff costs +€55,674
up €55,674 (+11.4%), from €489,164 to €544,838
- Gross operating margin +€53,577
up €53,577 (+7.5%), from €713,135 to €766,711
- Financial charges -€10,855
down €10,855 (-22.6%), from €47,932 to €37,077
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 | €1,247,261 | €1,202,194 | -€45,067 | -3.6% |
| Fixed assets | 21/28 | €1,088,339 | €1,022,625 | -€65,713 | -6.0% |
| Intangible fixed assets | 21 | €741 | €221 | -€520 | -70.2% |
| Tangible fixed assets | 22/27 | €1,087,598 | €1,022,404 | -€65,193 | -6.0% |
| Land and buildings | 22 | €1,028,825 | €966,092 | -€62,732 | -6.1% |
| Plant, machinery and equipment | 23 | €21,377 | €23,346 | +€1,970 | +9.2% |
| Furniture and vehicles | 24 | €37,397 | €32,966 | -€4,431 | -11.8% |
| Current assets | 29/58 | €158,923 | €179,569 | +€20,647 | +13.0% |
| Stocks and contracts in progress | 3 | €49,796 | €51,605 | +€1,809 | +3.6% |
| Stocks | 30/36 | €49,796 | €51,605 | +€1,809 | +3.6% |
| Amounts receivable within one year | 40/41 | €6,076 | €71,077 | +€65,000 | +1069.8% |
| Trade receivables | 40 | €3,640 | €70,327 | +€66,686 | +1831.9% |
| Other amounts receivable | 41 | €2,436 | €750 | -€1,686 | -69.2% |
| Cash at bank and in hand | 54/58 | €73,602 | €37,735 | -€35,867 | -48.7% |
| Deferred charges and accrued income | 490/1 | €29,448 | €19,153 | -€10,295 | -35.0% |
| Total equity and liabilities | 10/49 | €1,247,261 | €1,202,194 | -€45,067 | -3.6% |
| Equity | 10/15 | €412,582 | €409,383 | -€3,199 | -0.8% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €387,582 | €384,383 | -€3,199 | -0.8% |
| Tax-exempt reserves | 132 | €1,459 | €1,459 | = | 0.0% |
| Distributable reserves | 133 | €386,123 | €382,924 | -€3,199 | -0.8% |
| Amounts payable | 17/49 | €834,679 | €792,811 | -€41,868 | -5.0% |
| Amounts payable after more than one year | 17 | €558,588 | €483,977 | -€74,611 | -13.4% |
| Financial debts | 170/4 | €558,588 | €483,977 | -€74,611 | -13.4% |
| Amounts payable within one year | 42/48 | €253,038 | €280,870 | +€27,832 | +11.0% |
| Current portion of amounts payable after more than one year | 42 | €90,147 | €93,072 | +€2,926 | +3.2% |
| Trade debts | 44 | €54,616 | €82,535 | +€27,919 | +51.1% |
| Suppliers | 440/4 | €54,616 | €82,535 | +€27,919 | +51.1% |
| Taxes, remuneration and social security | 45 | €55,646 | €57,813 | +€2,167 | +3.9% |
| Taxes | 450/3 | €13,251 | €14,078 | +€827 | +6.2% |
| Remuneration and social security | 454/9 | €42,396 | €43,735 | +€1,340 | +3.2% |
| Other amounts payable | 47/48 | €52,629 | €47,449 | -€5,180 | -9.8% |
| Accrued charges and deferred income | 492/3 | €23,053 | €27,964 | +€4,911 | +21.3% |
| Non-recurring operating income | 76A | €1,333 | €16,860 | +€15,526 | +1164.4% |
| Remuneration, social security and pensions | 62 | €489,164 | €544,838 | +€55,674 | +11.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €97,056 | €93,531 | -€3,524 | -3.6% |
| Other operating charges | 640/8 | €4,118 | €4,320 | +€202 | +4.9% |
| Gross operating margin | 9900 | €713,135 | €766,711 | +€53,577 | +7.5% |
| Operating profit (loss) | 9901 | €122,798 | €124,022 | +€1,224 | +1.0% |
| Financial income | 75/76B | €90 | €1,582 | +€1,492 | +1662.5% |
| Recurring financial income | 75 | €90 | €82 | -€8 | -9.0% |
| Non-recurring financial income | 76B | - | €1,500 | +€1,500 | |
| Financial charges | 65/66B | €47,932 | €37,077 | -€10,855 | -22.6% |
| Recurring financial charges | 65 | €47,932 | €37,077 | -€10,855 | -22.6% |
| Profit (loss) for the period before taxes | 9903 | €74,956 | €88,526 | +€13,571 | +18.1% |
| Income taxes | 67/77 | €22,957 | €25,251 | +€2,294 | +10.0% |
| Profit (loss) for the period | 9904 | €51,999 | €63,275 | +€11,276 | +21.7% |
| Profit (loss) for the period to be appropriated | 9905 | €51,999 | €63,275 | +€11,276 | +21.7% |
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 11 October 2026 via checked.be.