TREUVA: 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
TREUVA
NACE 68.201, Renting and operating of own or leased residential real estate, excluding social housing
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€609,222
2024 · €3.7m-€3.1m
Equity
€41.4m
2024 · €40.8m+€609,222
Cash
€749,940
2024 · €906,417-€156,476
Balance sheet total
€43.3m
2024 · €43.1m+€208,552
Largest movements
Assets
- Receivables within one year +€622,963
up €622,963 (+31.2%), from €2.0m to €2.6m
of which Trade receivables: +€1.7m
Equity and liabilities
- Reserves +€609,222
up €609,222 (+3.8%), from €15.9m to €16.5m
of which Distributable reserves: +€580,702
Income statement
- Financial income -€2.5m
down €2.5m (-99.9%), from €2.5m to €2,289
- Taxes -€194,940
down €194,940 (-46.5%), from €419,135 to €224,195
of which Taxes: -€194,985
- Staff costs +€128,721
up €128,721 (+21.9%), from €586,836 to €715,557
- Services and other goods +€79,996
up €79,996 (+4.7%), from €1.7m to €1.8m
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
€3.7m
Turnover
+€31,604
Other operating income
+€24,369
Goods and materials
-€2,123
Services and other goods
-€79,996
Staff costs
-€128,721
Depreciation
-€32,064
Other operating charges
-€22,844
Other operating items
-€578,578
Financial income
-€2.5m
Financial charges
+€5,631
Taxes
+€194,940
Result 2025
€609,222
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
+€121,650
Investment
-€278,127
Financing
€0
Cash 2024
€906,417
From operations (derived)
+€121,650
Net result for the year
+€609,222
Depreciation
+€527,240
Receivables within one year
-€622,963
Deferred charges and accrued income
+€8,822
Provisions
-€826
Trade debts
-€288,471
Tax, wage and social debts
-€145,540
Other debts
+€43,116
Accrued charges and deferred income
-€8,949
Investment (derived)
-€278,127
Investment in fixed assets (net)
-€278,127
Cash 2025
€749,940
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €43,135,794 | €43,344,345 | +€208,552 | +0.5% |
| Fixed assets | 21/28 | €40,226,469 | €39,977,356 | -€249,113 | -0.6% |
| Tangible fixed assets | 22/27 | €16,956,945 | €16,707,831 | -€249,113 | -1.5% |
| Land and buildings | 22 | €15,913,735 | €15,761,627 | -€152,108 | -1.0% |
| Plant, machinery and equipment | 23 | €426,167 | €435,491 | +€9,324 | +2.2% |
| Furniture and vehicles | 24 | €604,227 | €497,898 | -€106,329 | -17.6% |
| Other tangible fixed assets | 26 | €12,816 | €12,816 | = | 0.0% |
| Financial fixed assets | 28 | €23,269,525 | €23,269,525 | = | 0.0% |
| Affiliated companies | 280/1 | €23,267,825 | €23,267,825 | = | 0.0% |
| Participating interests | 280 | €23,267,825 | €23,267,825 | = | 0.0% |
| Other financial fixed assets | 284/8 | €1,700 | €1,700 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €1,700 | €1,700 | = | 0.0% |
| Current assets | 29/58 | €2,909,325 | €3,366,989 | +€457,665 | +15.7% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €1,994,087 | €2,617,049 | +€622,963 | +31.2% |
| Trade receivables | 40 | €765,050 | €2,474,579 | +€1.7m | +223.5% |
| Other amounts receivable | 41 | €1,229,037 | €142,470 | -€1.1m | -88.4% |
| Cash at bank and in hand | 54/58 | €906,417 | €749,940 | -€156,476 | -17.3% |
| Deferred charges and accrued income | 490/1 | €8,822 | €0 | -€8,822 | -100.0% |
| Total equity and liabilities | 10/49 | €43,135,794 | €43,344,345 | +€208,552 | +0.5% |
| Equity | 10/15 | €40,779,362 | €41,388,585 | +€609,222 | +1.5% |
| Contributions | 10/11 | €24,896,975 | €24,896,975 | = | 0.0% |
| Capital | 10 | €24,896,975 | €24,896,975 | = | 0.0% |
| Issued capital | 100 | €24,896,975 | €24,896,975 | = | 0.0% |
| Reserves | 13 | €15,882,388 | €16,491,610 | +€609,222 | +3.8% |
| Non-distributable reserves | 130/1 | €865,984 | €896,984 | +€31,000 | +3.6% |
| Legal reserve | 130 | €865,000 | €896,000 | +€31,000 | +3.6% |
| Other | 1319 | €984 | €984 | = | 0.0% |
| Tax-exempt reserves | 132 | €59,467 | €56,988 | -€2,479 | -4.2% |
| Distributable reserves | 133 | €14,956,936 | €15,537,638 | +€580,702 | +3.9% |
| Provisions and deferred taxes | 16 | €19,822 | €18,996 | -€826 | -4.2% |
| Deferred taxes | 168 | €19,822 | €18,996 | -€826 | -4.2% |
| Amounts payable | 17/49 | €2,336,609 | €1,936,764 | -€399,845 | -17.1% |
| Amounts payable within one year | 42/48 | €2,221,705 | €1,830,810 | -€390,895 | -17.6% |
| Trade debts | 44 | €370,389 | €81,918 | -€288,471 | -77.9% |
| Suppliers | 440/4 | €370,389 | €81,918 | -€288,471 | -77.9% |
| Taxes, remuneration and social security | 45 | €309,662 | €164,122 | -€145,540 | -47.0% |
| Taxes | 450/3 | €203,232 | €44,798 | -€158,433 | -78.0% |
| Remuneration and social security | 454/9 | €106,430 | €119,323 | +€12,893 | +12.1% |
| Other amounts payable | 47/48 | €1,541,654 | €1,584,770 | +€43,116 | +2.8% |
| Accrued charges and deferred income | 492/3 | €114,904 | €105,954 | -€8,949 | -7.8% |
| Operating income | 70/76A | €4,575,312 | €4,617,307 | +€41,994 | +0.9% |
| Turnover | 70 | €4,380,091 | €4,411,695 | +€31,604 | +0.7% |
| Other operating income | 74 | €181,243 | €205,612 | +€24,369 | +13.4% |
| Non-recurring operating income | 76A | €13,979 | €0 | -€13,979 | -100.0% |
| Operating charges | 60/66A | €2,846,841 | €3,677,188 | +€830,347 | +29.2% |
| Goods for resale, raw materials and consumables | 60 | €14,605 | €16,728 | +€2,123 | +14.5% |
| Purchases | 600/8 | €14,605 | €16,728 | +€2,123 | +14.5% |
| Services and other goods | 61 | €1,695,516 | €1,775,511 | +€79,996 | +4.7% |
| Remuneration, social security and pensions | 62 | €586,836 | €715,557 | +€128,721 | +21.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €495,176 | €527,240 | +€32,064 | +6.5% |
| Other operating charges | 640/8 | €54,709 | €77,553 | +€22,844 | +41.8% |
| Non-recurring operating charges | 66A | €0 | €564,599 | +€564,599 | |
| Operating profit (loss) | 9901 | €1,728,472 | €940,119 | -€788,353 | -45.6% |
| Financial income | 75/76B | €2,503,554 | €2,289 | -€2.5m | -99.9% |
| Recurring financial income | 75 | €2,503,554 | €2,289 | -€2.5m | -99.9% |
| Income from financial fixed assets | 750 | €2,498,298 | €0 | -€2.5m | -100.0% |
| Income from current assets | 751 | €0 | - | = | |
| Other financial income | 752/9 | €5,256 | €2,289 | -€2,967 | -56.4% |
| Financial charges | 65/66B | €115,448 | €109,817 | -€5,631 | -4.9% |
| Recurring financial charges | 65 | €115,448 | €109,817 | -€5,631 | -4.9% |
| Debt charges | 650 | €114,904 | €106,177 | -€8,727 | -7.6% |
| Other financial charges | 652/9 | €544 | €3,641 | +€3,097 | +569.3% |
| Profit (loss) for the period before taxes | 9903 | €4,116,578 | €832,591 | -€3.3m | -79.8% |
| Transfer from deferred taxes | 780 | €826 | €826 | = | 0.0% |
| Income taxes | 67/77 | €419,135 | €224,195 | -€194,940 | -46.5% |
| Taxes | 670/3 | €419,180 | €224,195 | -€194,985 | -46.5% |
| Tax adjustments and reversals of tax provisions | 77 | €45 | €0 | -€45 | -100.0% |
| Profit (loss) for the period | 9904 | €3,698,269 | €609,222 | -€3.1m | -83.5% |
| Transfer from tax-exempt reserves | 789 | €2,479 | €2,479 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €3,700,749 | €611,702 | -€3.1m | -83.5% |
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 7 October 2026 via checked.be.