TREVAR: 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.
TREVAR
Largest movements
- Cash +€114,484
up €114,484 (+151.7%), from €75,453 to €189,937
mainly Net result for the year (+€48,472) and Other debts (+€41,382)
- Tangible fixed assets -€6,349
down €6,349 (-50.1%), from €12,666 to €6,316
- Profit (loss) carried forward +€48,472
up €48,472 (+80.9%), from €59,901 to €108,373
- Other debts +€41,382
up €41,382 (+208.0%), from €19,898 to €61,280
- Tax, wage and social debts +€13,955
up €13,955 (+110.2%), from €12,659 to €26,614
- Trade debts +€7,360
up €7,360 (+96.1%), from €7,661 to €15,020
- Gross operating margin -€12,159
down €12,159 (-14.5%), from €83,947 to €71,788
- Financial charges +€2,859
up €2,859 (+3051.8%), from €94 to €2,953
- Taxes -€2,856
down €2,856 (-17.5%), from €16,296 to €13,440
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 | €103,994 | €215,349 | +€111,355 | +107.1% |
| Fixed assets | 21/28 | €12,666 | €6,316 | -€6,349 | -50.1% |
| Tangible fixed assets | 22/27 | €12,666 | €6,316 | -€6,349 | -50.1% |
| Furniture and vehicles | 24 | €12,666 | €6,316 | -€6,349 | -50.1% |
| Current assets | 29/58 | €91,328 | €209,033 | +€117,704 | +128.9% |
| Amounts receivable within one year | 40/41 | €15,412 | €17,303 | +€1,891 | +12.3% |
| Trade receivables | 40 | €15,412 | €17,303 | +€1,891 | +12.3% |
| Cash at bank and in hand | 54/58 | €75,453 | €189,937 | +€114,484 | +151.7% |
| Deferred charges and accrued income | 490/1 | €463 | €1,793 | +€1,329 | +287.0% |
| Total equity and liabilities | 10/49 | €103,994 | €215,349 | +€111,355 | +107.1% |
| Equity | 10/15 | €62,901 | €111,373 | +€48,472 | +77.1% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €59,901 | €108,373 | +€48,472 | +80.9% |
| Amounts payable | 17/49 | €41,093 | €103,976 | +€62,883 | +153.0% |
| Amounts payable within one year | 42/48 | €40,218 | €102,914 | +€62,697 | +155.9% |
| Trade debts | 44 | €7,661 | €15,020 | +€7,360 | +96.1% |
| Suppliers | 440/4 | €7,661 | €15,020 | +€7,360 | +96.1% |
| Taxes, remuneration and social security | 45 | €12,659 | €26,614 | +€13,955 | +110.2% |
| Taxes | 450/3 | €12,659 | €26,614 | +€13,955 | +110.2% |
| Other amounts payable | 47/48 | €19,898 | €61,280 | +€41,382 | +208.0% |
| Accrued charges and deferred income | 492/3 | €875 | €1,062 | +€187 | +21.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,384 | €6,349 | -€35 | -0.5% |
| Other operating charges | 640/8 | €1,272 | €744 | -€528 | -41.5% |
| Gross operating margin | 9900 | €83,947 | €71,788 | -€12,159 | -14.5% |
| Operating profit (loss) | 9901 | €76,291 | €64,695 | -€11,596 | -15.2% |
| Financial income | 75/76B | - | €170 | +€170 | |
| Recurring financial income | 75 | - | €170 | +€170 | |
| Financial charges | 65/66B | €94 | €2,953 | +€2,859 | +3051.8% |
| Recurring financial charges | 65 | €94 | €2,953 | +€2,859 | +3051.8% |
| Profit (loss) for the period before taxes | 9903 | €76,197 | €61,911 | -€14,286 | -18.7% |
| Income taxes | 67/77 | €16,296 | €13,440 | -€2,856 | -17.5% |
| Profit (loss) for the period | 9904 | €59,901 | €48,472 | -€11,430 | -19.1% |
| Profit (loss) for the period to be appropriated | 9905 | €59,901 | €48,472 | -€11,430 | -19.1% |
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 10 October 2026 via checked.be.