TREVA: 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.
TREVA
Largest movements
- Receivables after one year +€5.7m
up €5.7m (+353.9%), from €1.6m to €7.4m
- Receivables within one year -€5.1m
down €5.1m (-96.8%), from €5.3m to €168,534
of which Other amounts receivable: -€4.8m
- Financial fixed assets +€343,778
up €343,778 (+5.9%), from €5.8m to €6.2m
- Tangible fixed assets -€272,703
down €272,703 (-4.6%), from €5.9m to €5.6m
of which Land and buildings: -€264,056
- Deferred charges and accrued income +€246,499
up €246,499 (+146.2%), from €168,633 to €415,132
- Debts after one year +€1.6m
up €1.6m (+36.0%), from €4.5m to €6.2m
of which Other amounts payable: +€2.1m
- Other debts -€1.1m
down €1.1m (-99.9%), from €1.1m to €1,277
- Reserves +€352,777
up €352,777 (+3.2%), from €11.0m to €11.4m
of which Distributable reserves: +€352,777
- Gross operating margin +€198,975
up €198,975 (+29.3%), from €679,787 to €878,762
- Taxes +€73,350
up €73,350 (+131.1%), from €55,957 to €129,307
- Financial income -€34,877
down €34,877 (-12.8%), from €272,626 to €237,749
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 | €19,010,306 | €20,064,842 | +€1.1m | +5.5% |
| Fixed assets | 21/28 | €11,691,722 | €11,762,797 | +€71,075 | +0.6% |
| Tangible fixed assets | 22/27 | €5,871,801 | €5,599,098 | -€272,703 | -4.6% |
| Land and buildings | 22 | €5,860,802 | €5,596,746 | -€264,056 | -4.5% |
| Plant, machinery and equipment | 23 | €2,703 | €280 | -€2,423 | -89.6% |
| Furniture and vehicles | 24 | €8,297 | €2,073 | -€6,224 | -75.0% |
| Financial fixed assets | 28 | €5,819,921 | €6,163,699 | +€343,778 | +5.9% |
| Current assets | 29/58 | €7,318,583 | €8,302,045 | +€983,461 | +13.4% |
| Amounts receivable after more than one year | 29 | €1,624,366 | €7,373,506 | +€5.7m | +353.9% |
| Other amounts receivable | 291 | €1,624,366 | €7,373,506 | +€5.7m | +353.9% |
| Amounts receivable within one year | 40/41 | €5,266,157 | €168,534 | -€5.1m | -96.8% |
| Trade receivables | 40 | €436,001 | €168,534 | -€267,467 | -61.3% |
| Other amounts receivable | 41 | €4,830,156 | - | -€4.8m | |
| Current investments | 50/53 | €173,700 | €320,700 | +€147,000 | +84.6% |
| Cash at bank and in hand | 54/58 | €85,727 | €24,173 | -€61,554 | -71.8% |
| Deferred charges and accrued income | 490/1 | €168,633 | €415,132 | +€246,499 | +146.2% |
| Total equity and liabilities | 10/49 | €19,010,306 | €20,064,842 | +€1.1m | +5.5% |
| Equity | 10/15 | €12,656,903 | €13,009,680 | +€352,777 | +2.8% |
| Contributions | 10/11 | €1,590,888 | €1,590,888 | = | 0.0% |
| Capital | 10 | €1,590,888 | €1,590,888 | = | 0.0% |
| Issued capital | 100 | €1,590,888 | €1,590,888 | = | 0.0% |
| Revaluation surpluses | 12 | €28,451 | €28,451 | = | 0.0% |
| Reserves | 13 | €11,037,564 | €11,390,341 | +€352,777 | +3.2% |
| Non-distributable reserves | 130/1 | €159,089 | €159,089 | = | 0.0% |
| Legal reserve | 130 | €159,089 | €159,089 | = | 0.0% |
| Distributable reserves | 133 | €10,878,475 | €11,231,252 | +€352,777 | +3.2% |
| Amounts payable | 17/49 | €6,353,403 | €7,055,162 | +€701,759 | +11.0% |
| Amounts payable after more than one year | 17 | €4,526,938 | €6,158,541 | +€1.6m | +36.0% |
| Financial debts | 170/4 | €4,401,938 | €3,944,062 | -€457,876 | -10.4% |
| Other amounts payable | 178/9 | €125,000 | €2,214,479 | +€2.1m | +1671.6% |
| Amounts payable within one year | 42/48 | €1,825,278 | €895,621 | -€929,657 | -50.9% |
| Current portion of amounts payable after more than one year | 42 | €554,805 | €457,876 | -€96,930 | -17.5% |
| Financial debts | 43 | - | €30,250 | +€30,250 | |
| Credit institutions | 430/8 | - | €30,250 | +€30,250 | |
| Trade debts | 44 | €5,153 | €36,939 | +€31,786 | +616.8% |
| Suppliers | 440/4 | €5,153 | €36,939 | +€31,786 | +616.8% |
| Taxes, remuneration and social security | 45 | €171,784 | €369,279 | +€197,495 | +115.0% |
| Taxes | 450/3 | €124,340 | €321,835 | +€197,495 | +158.8% |
| Remuneration and social security | 454/9 | €47,444 | €47,444 | = | 0.0% |
| Other amounts payable | 47/48 | €1,093,535 | €1,277 | -€1.1m | -99.9% |
| Accrued charges and deferred income | 492/3 | €1,187 | €1,000 | -€187 | -15.7% |
| Non-recurring operating income | 76A | - | €831 | +€831 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €287,660 | €284,453 | -€3,207 | -1.1% |
| Other operating charges | 640/8 | €86,375 | €84,282 | -€2,093 | -2.4% |
| Gross operating margin | 9900 | €679,787 | €878,762 | +€198,975 | +29.3% |
| Operating profit (loss) | 9901 | €305,752 | €510,027 | +€204,275 | +66.8% |
| Financial income | 75/76B | €272,626 | €237,749 | -€34,877 | -12.8% |
| Recurring financial income | 75 | €272,626 | €237,749 | -€34,877 | -12.8% |
| Financial charges | 65/66B | €269,258 | €265,692 | -€3,566 | -1.3% |
| Recurring financial charges | 65 | €269,258 | €265,692 | -€3,566 | -1.3% |
| Profit (loss) for the period before taxes | 9903 | €309,120 | €482,084 | +€172,964 | +56.0% |
| Income taxes | 67/77 | €55,957 | €129,307 | +€73,350 | +131.1% |
| Profit (loss) for the period | 9904 | €253,163 | €352,777 | +€99,614 | +39.3% |
| Profit (loss) for the period to be appropriated | 9905 | €253,163 | €352,777 | +€99,614 | +39.3% |
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 12 October 2026 via checked.be.