TRESOR RE: 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.
TRESOR RE
Largest movements
- Cash +€225,432
up €225,432 (+8662.8%), from €2,602 to €228,034
mainly Net result for the year (+€85,869) and Depreciation (+€61,420)
- Tangible fixed assets -€102,048
down €102,048 (-15.1%), from €677,163 to €575,115
- Reserves +€149,275
up €149,275 (+75.0%), from €199,032 to €348,307
of which Tax-exempt reserves: +€149,275
- Profit (loss) carried forward -€63,406
down €63,406 (-89.9%), from -€70,560 to -€133,966
- Provisions +€49,758
new in 2025: €49,758
- Debts after one year -€13,333
down €13,333 (-6.0%), from €222,361 to €209,028
- Gross operating margin +€190,561
up €190,561 (+559.3%), from €34,069 to €224,630
- Depreciation -€7,676
down €7,676 (-11.1%), from €69,096 to €61,420
- Other operating charges +€4,104
up €4,104 (+19.4%), from €21,117 to €25,221
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 | €705,832 | €829,216 | +€123,384 | +17.5% |
| Fixed assets | 21/28 | €677,283 | €575,235 | -€102,048 | -15.1% |
| Tangible fixed assets | 22/27 | €677,163 | €575,115 | -€102,048 | -15.1% |
| Land and buildings | 22 | €677,163 | €575,115 | -€102,048 | -15.1% |
| Financial fixed assets | 28 | €120 | €120 | = | 0.0% |
| Current assets | 29/58 | €28,549 | €253,981 | +€225,432 | +789.6% |
| Amounts receivable within one year | 40/41 | €25,947 | €25,947 | = | 0.0% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €25,947 | €25,947 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €2,602 | €228,034 | +€225,432 | +8662.8% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €705,832 | €829,216 | +€123,384 | +17.5% |
| Equity | 10/15 | €177,187 | €263,056 | +€85,869 | +48.5% |
| Contributions | 10/11 | €48,715 | €48,715 | = | 0.0% |
| Reserves | 13 | €199,032 | €348,307 | +€149,275 | +75.0% |
| Tax-exempt reserves | 132 | €14,732 | €164,007 | +€149,275 | +1013.2% |
| Distributable reserves | 133 | €184,300 | €184,300 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€70,560 | -€133,966 | -€63,406 | -89.9% |
| Provisions and deferred taxes | 16 | - | €49,758 | +€49,758 | |
| Deferred taxes | 168 | - | €49,758 | +€49,758 | |
| Amounts payable | 17/49 | €528,645 | €516,402 | -€12,243 | -2.3% |
| Amounts payable after more than one year | 17 | €222,361 | €209,028 | -€13,333 | -6.0% |
| Financial debts | 170/4 | €222,361 | €209,028 | -€13,333 | -6.0% |
| Amounts payable within one year | 42/48 | €300,000 | €301,090 | +€1,090 | +0.4% |
| Current portion of amounts payable after more than one year | 42 | €17,833 | €17,833 | = | 0.0% |
| Trade debts | 44 | €3,543 | €4,133 | +€590 | +16.7% |
| Suppliers | 440/4 | €3,543 | €4,133 | +€590 | +16.7% |
| Other amounts payable | 47/48 | €278,624 | €279,124 | +€500 | +0.2% |
| Accrued charges and deferred income | 492/3 | €6,284 | €6,284 | = | 0.0% |
| Non-recurring operating income | 76A | - | €199,033 | +€199,033 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €69,096 | €61,420 | -€7,676 | -11.1% |
| Other operating charges | 640/8 | €21,117 | €25,221 | +€4,104 | +19.4% |
| Gross operating margin | 9900 | €34,069 | €224,630 | +€190,561 | +559.3% |
| Operating profit (loss) | 9901 | -€56,145 | €137,988 | +€194,133 | |
| Financial income | 75/76B | €2 | €0 | -€2 | -100.0% |
| Recurring financial income | 75 | €2 | €0 | -€2 | -100.0% |
| Financial charges | 65/66B | €2,789 | €2,361 | -€427 | -15.3% |
| Recurring financial charges | 65 | €2,789 | €2,361 | -€427 | -15.3% |
| Profit (loss) for the period before taxes | 9903 | -€58,931 | €135,627 | +€194,558 | |
| Transfer to deferred taxes | 680 | - | €49,758 | +€49,758 | |
| Profit (loss) for the period | 9904 | -€58,931 | €85,869 | +€144,800 | |
| Transfer to tax-exempt reserves | 689 | - | €149,275 | +€149,275 | |
| Profit (loss) for the period to be appropriated | 9905 | -€58,931 | -€63,406 | -€4,475 | -7.6% |
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 9 October 2026 via checked.be.