TRESUR: 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.
What changed
TRESUR
NACE 66.191, Agents and brokers in banking services
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€539,036
2024 · €533,856+€5,180
Equity
€3.1m
2024 · €2.6m+€539,036
Cash
€39,208
2024 · €5,470+€33,738
Balance sheet total
€3.6m
2024 · €3.0m+€594,978
Largest movements
Assets
- Intangible fixed assets +€970,230
new in 2025: €970,230
- Current investments -€357,002
down €357,002 (-13.3%), from €2.7m to €2.3m
- Tangible fixed assets -€56,282
down €56,282 (-29.9%), from €188,544 to €132,262
of which Furniture and vehicles: -€42,326
Equity and liabilities
- Reserves +€539,036
up €539,036 (+21.1%), from €2.6m to €3.1m
of which Distributable reserves: +€454,836
- Tax, wage and social debts +€85,855
up €85,855 (+238.1%), from €36,053 to €121,909
of which Taxes: +€67,473
Income statement
- Gross operating margin +€308,319
up €308,319 (+34.4%), from €897,160 to €1.2m
- Depreciation +€136,808
up €136,808 (+224.3%), from €60,986 to €197,794
- Staff costs +€121,286
up €121,286 (+80.7%), from €150,264 to €271,551
- Taxes +€60,252
up €60,252 (+34.5%), from €174,856 to €235,108
- Financial income +€19,034
up €19,034 (+44.4%), from €42,896 to €61,930
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.
Result 2024
€533,856
Gross operating margin
+€308,319
Staff costs
-€121,286
Depreciation
-€136,808
Other operating charges
+€19
Financial income
+€19,034
Financial charges
-€3,845
Taxes
-€60,252
Result 2025
€539,036
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.
From operations
+€829,690
Investment
-€754,741
Financing
-€41,211
Cash 2024
€5,470
From operations (derived)
+€829,690
Net result for the year
+€539,036
Depreciation
+€197,794
Receivables within one year
-€6,385
Smaller working-capital items
+€1,147
Trade debts
+€3,029
Tax, wage and social debts
+€85,855
Other debts
+€9,214
Investment (derived)
-€754,741
Investment in fixed assets (net)
-€1.1m
Current investments
+€357,002
Financing
-€41,211
Debts after one year
-€33,035
Current portion of long-term debt
-€8,207
Short-term financial debts
+€31
Cash 2025
€39,208
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,960,662 | €3,555,640 | +€594,978 | +20.1% |
| Fixed assets | 21/28 | €190,885 | €1,104,833 | +€913,949 | +478.8% |
| Intangible fixed assets | 21 | - | €970,230 | +€970,230 | |
| Tangible fixed assets | 22/27 | €188,544 | €132,262 | -€56,282 | -29.9% |
| Land and buildings | 22 | €68,377 | €45,416 | -€22,961 | -33.6% |
| Plant, machinery and equipment | 23 | €3,186 | €2,191 | -€995 | -31.2% |
| Furniture and vehicles | 24 | €116,981 | €74,655 | -€42,326 | -36.2% |
| Other tangible fixed assets | 26 | - | €10,000 | +€10,000 | |
| Financial fixed assets | 28 | €2,341 | €2,341 | = | 0.0% |
| Current assets | 29/58 | €2,769,778 | €2,450,807 | -€318,970 | -11.5% |
| Amounts receivable within one year | 40/41 | €56,730 | €63,115 | +€6,385 | +11.3% |
| Trade receivables | 40 | €8,073 | €63,115 | +€55,042 | +681.8% |
| Other amounts receivable | 41 | €48,657 | €0 | -€48,657 | -100.0% |
| Current investments | 50/53 | €2,689,928 | €2,332,926 | -€357,002 | -13.3% |
| Cash at bank and in hand | 54/58 | €5,470 | €39,208 | +€33,738 | +616.8% |
| Deferred charges and accrued income | 490/1 | €17,650 | €15,558 | -€2,092 | -11.9% |
| Total equity and liabilities | 10/49 | €2,960,662 | €3,555,640 | +€594,978 | +20.1% |
| Equity | 10/15 | €2,576,591 | €3,115,627 | +€539,036 | +20.9% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €2,551,591 | €3,090,627 | +€539,036 | +21.1% |
| Tax-exempt reserves | 132 | €589,400 | €673,600 | +€84,200 | +14.3% |
| Distributable reserves | 133 | €1,962,191 | €2,417,027 | +€454,836 | +23.2% |
| Amounts payable | 17/49 | €384,071 | €440,014 | +€55,942 | +14.6% |
| Amounts payable after more than one year | 17 | €290,379 | €257,343 | -€33,035 | -11.4% |
| Financial debts | 170/4 | €138,997 | €105,962 | -€33,035 | -23.8% |
| Other amounts payable | 178/9 | €151,382 | €151,382 | = | 0.0% |
| Amounts payable within one year | 42/48 | €82,030 | €171,952 | +€89,923 | +109.6% |
| Current portion of amounts payable after more than one year | 42 | €41,242 | €33,035 | -€8,207 | -19.9% |
| Financial debts | 43 | - | €31 | +€31 | |
| Credit institutions | 430/8 | - | €31 | +€31 | |
| Trade debts | 44 | €4,735 | €7,764 | +€3,029 | +64.0% |
| Suppliers | 440/4 | €4,735 | €7,764 | +€3,029 | +64.0% |
| Taxes, remuneration and social security | 45 | €36,053 | €121,909 | +€85,855 | +238.1% |
| Taxes | 450/3 | €13,539 | €81,013 | +€67,473 | +498.3% |
| Remuneration and social security | 454/9 | €22,514 | €40,896 | +€18,382 | +81.6% |
| Other amounts payable | 47/48 | - | €9,214 | +€9,214 | |
| Accrued charges and deferred income | 492/3 | €11,663 | €10,718 | -€945 | -8.1% |
| Non-recurring operating income | 76A | €1,500 | €0 | -€1,500 | -100.0% |
| Remuneration, social security and pensions | 62 | €150,264 | €271,551 | +€121,286 | +80.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €60,986 | €197,794 | +€136,808 | +224.3% |
| Other operating charges | 640/8 | €3,939 | €3,919 | -€19 | -0.5% |
| Gross operating margin | 9900 | €897,160 | €1,205,479 | +€308,319 | +34.4% |
| Operating profit (loss) | 9901 | €681,972 | €732,216 | +€50,244 | +7.4% |
| Financial income | 75/76B | €42,896 | €61,930 | +€19,034 | +44.4% |
| Recurring financial income | 75 | €42,896 | €61,930 | +€19,034 | +44.4% |
| Financial charges | 65/66B | €16,156 | €20,001 | +€3,845 | +23.8% |
| Recurring financial charges | 65 | €16,156 | €20,001 | +€3,845 | +23.8% |
| Profit (loss) for the period before taxes | 9903 | €708,712 | €774,144 | +€65,432 | +9.2% |
| Income taxes | 67/77 | €174,856 | €235,108 | +€60,252 | +34.5% |
| Profit (loss) for the period | 9904 | €533,856 | €539,036 | +€5,180 | +1.0% |
| Transfer from tax-exempt reserves | 789 | €387,320 | €168,400 | -€218,920 | -56.5% |
| Transfer to tax-exempt reserves | 689 | €210,500 | €252,600 | +€42,100 | +20.0% |
| Profit (loss) for the period to be appropriated | 9905 | €710,676 | €454,836 | -€255,840 | -36.0% |
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 6 October 2026 via checked.be.