TRENTE-NEUF: what changed
TRENTE-NEUF
Largest movements
- Stocks and contracts -€13,608
down €13,608 (-37.6%), from €36,236 to €22,628
- Cash -€4,638
down €4,638 (-94.4%), from €4,916 to €278
mainly Net result for the year (-€10,507) and Tax, wage and social debts (-€5,090)
- Tangible fixed assets -€1,057
down €1,057 (-12.0%), from €8,783 to €7,727
- Profit (loss) carried forward -€10,507
down €10,507, from €5,312 to -€5,195
- Tax, wage and social debts -€5,090
down €5,090 (-97.6%), from €5,216 to €126
- Trade debts -€4,931
down €4,931 (-92.5%), from €5,331 to €400
- Other debts +€1,228
up €1,228 (+8.7%), from €14,076 to €15,304
- Write-downs +€9,698
new in 2025: €9,698
- Gross operating margin -€1,536
down €1,536 (-64.0%), from €2,400 to €864
- Financial charges -€161
down €161 (-51.5%), from €313 to €152
- Taxes -€126
no longer reported in 2025 (was €126)
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 | €49,935 | €30,635 | -€19,300 | -38.6% |
| Fixed assets | 21/28 | €8,783 | €7,727 | -€1,057 | -12.0% |
| Tangible fixed assets | 22/27 | €8,783 | €7,727 | -€1,057 | -12.0% |
| Other tangible fixed assets | 26 | €8,783 | €7,727 | -€1,057 | -12.0% |
| Current assets | 29/58 | €41,152 | €22,908 | -€18,243 | -44.3% |
| Stocks and contracts in progress | 3 | €36,236 | €22,628 | -€13,608 | -37.6% |
| Stocks | 30/36 | €36,236 | €22,628 | -€13,608 | -37.6% |
| Amounts receivable within one year | 40/41 | - | €3 | +€3 | |
| Other amounts receivable | 41 | - | €3 | +€3 | |
| Cash at bank and in hand | 54/58 | €4,916 | €278 | -€4,638 | -94.4% |
| Total equity and liabilities | 10/49 | €49,935 | €30,635 | -€19,300 | -38.6% |
| Equity | 10/15 | €25,312 | €14,805 | -€10,507 | -41.5% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €5,312 | -€5,195 | -€10,507 | |
| Amounts payable | 17/49 | €24,623 | €15,830 | -€8,793 | -35.7% |
| Amounts payable within one year | 42/48 | €24,623 | €15,830 | -€8,793 | -35.7% |
| Trade debts | 44 | €5,331 | €400 | -€4,931 | -92.5% |
| Suppliers | 440/4 | €5,331 | €400 | -€4,931 | -92.5% |
| Taxes, remuneration and social security | 45 | €5,216 | €126 | -€5,090 | -97.6% |
| Taxes | 450/3 | €5,216 | €126 | -€5,090 | -97.6% |
| Other amounts payable | 47/48 | €14,076 | €15,304 | +€1,228 | +8.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,057 | €1,057 | = | 0.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €9,698 | +€9,698 | |
| Other operating charges | 640/8 | €467 | €465 | -€2 | -0.4% |
| Gross operating margin | 9900 | €2,400 | €864 | -€1,536 | -64.0% |
| Operating profit (loss) | 9901 | €877 | -€10,355 | -€11,232 | |
| Financial income | 75/76B | €16 | €0 | -€16 | -99.5% |
| Recurring financial income | 75 | €16 | €0 | -€16 | -99.5% |
| Financial charges | 65/66B | €313 | €152 | -€161 | -51.5% |
| Recurring financial charges | 65 | €313 | €152 | -€161 | -51.5% |
| Profit (loss) for the period before taxes | 9903 | €580 | -€10,507 | -€11,087 | |
| Income taxes | 67/77 | €126 | - | -€126 | |
| Profit (loss) for the period | 9904 | €453 | -€10,507 | -€10,960 | |
| Profit (loss) for the period to be appropriated | 9905 | €453 | -€10,507 | -€10,960 |
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 8 November 2026 via checked.be.