TREVENS: 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.
TREVENS
Largest movements
- Cash +€831,844
up €831,844 (+1197.4%), from €69,473 to €901,318
mainly Net result for the year (+€521,919) and Current investments (+€290,000)
- Current investments -€290,000
down €290,000 (-32.2%), from €900,000 to €610,000
- Tangible fixed assets -€136,677
down €136,677 (-11.5%), from €1.2m to €1.1m
of which Land and buildings: -€136,677
- Reserves +€521,919
up €521,919 (+46.7%), from €1.1m to €1.6m
of which Tax-exempt reserves: +€489,326
- Debts after one year -€245,000
down €245,000 (-99.6%), from €245,890 to €890
of which Financial debts: -€245,000
- Provisions +€163,109
up €163,109 (+533.1%), from €30,598 to €193,707
- Gross operating margin +€713,067
up €713,067 (+448.7%), from €158,905 to €871,972
- Depreciation -€23,114
down €23,114 (-27.4%), from €84,248 to €61,134
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 | €2,173,648 | €2,579,894 | +€406,245 | +18.7% |
| Fixed assets | 21/28 | €1,190,904 | €1,054,226 | -€136,677 | -11.5% |
| Tangible fixed assets | 22/27 | €1,190,904 | €1,054,226 | -€136,677 | -11.5% |
| Land and buildings | 22 | €1,190,904 | €1,054,226 | -€136,677 | -11.5% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Current assets | 29/58 | €982,745 | €1,525,667 | +€542,923 | +55.2% |
| Amounts receivable within one year | 40/41 | €6,618 | €7,390 | +€772 | +11.7% |
| Trade receivables | 40 | - | €780 | +€780 | |
| Other amounts receivable | 41 | €6,618 | €6,610 | -€8 | -0.1% |
| Current investments | 50/53 | €900,000 | €610,000 | -€290,000 | -32.2% |
| Cash at bank and in hand | 54/58 | €69,473 | €901,318 | +€831,844 | +1197.4% |
| Deferred charges and accrued income | 490/1 | €6,653 | €6,960 | +€307 | +4.6% |
| Total equity and liabilities | 10/49 | €2,173,648 | €2,579,894 | +€406,245 | +18.7% |
| Equity | 10/15 | €1,842,598 | €2,364,517 | +€521,919 | +28.3% |
| Contributions | 10/11 | €725,000 | €725,000 | = | 0.0% |
| Reserves | 13 | €1,117,598 | €1,639,517 | +€521,919 | +46.7% |
| Tax-exempt reserves | 132 | €91,794 | €581,120 | +€489,326 | +533.1% |
| Distributable reserves | 133 | €1,025,804 | €1,058,397 | +€32,593 | +3.2% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Provisions and deferred taxes | 16 | €30,598 | €193,707 | +€163,109 | +533.1% |
| Deferred taxes | 168 | €30,598 | €193,707 | +€163,109 | +533.1% |
| Amounts payable | 17/49 | €300,452 | €21,670 | -€278,783 | -92.8% |
| Amounts payable after more than one year | 17 | €245,890 | €890 | -€245,000 | -99.6% |
| Financial debts | 170/4 | €245,000 | - | -€245,000 | |
| Other amounts payable | 178/9 | €890 | €890 | = | 0.0% |
| Amounts payable within one year | 42/48 | €54,562 | €20,780 | -€33,783 | -61.9% |
| Trade debts | 44 | €10,456 | €435 | -€10,022 | -95.8% |
| Suppliers | 440/4 | €10,456 | €435 | -€10,022 | -95.8% |
| Taxes, remuneration and social security | 45 | €866 | - | -€866 | |
| Taxes | 450/3 | €866 | - | -€866 | |
| Other amounts payable | 47/48 | €43,240 | €20,345 | -€22,895 | -52.9% |
| Non-recurring operating income | 76A | - | €777,851 | +€777,851 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €84,248 | €61,134 | -€23,114 | -27.4% |
| Other operating charges | 640/8 | €27,572 | €30,630 | +€3,059 | +11.1% |
| Non-recurring operating charges | 66A | - | €75,544 | +€75,544 | |
| Gross operating margin | 9900 | €158,905 | €871,972 | +€713,067 | +448.7% |
| Operating profit (loss) | 9901 | €47,086 | €704,664 | +€657,578 | +1396.6% |
| Financial income | 75/76B | €7,544 | €2,170 | -€5,374 | -71.2% |
| Recurring financial income | 75 | €7,544 | €2,170 | -€5,374 | -71.2% |
| Financial charges | 65/66B | €14,195 | €6,397 | -€7,798 | -54.9% |
| Recurring financial charges | 65 | €14,195 | €6,397 | -€7,798 | -54.9% |
| Profit (loss) for the period before taxes | 9903 | €40,435 | €700,437 | +€660,002 | +1632.2% |
| Transfer from deferred taxes | 780 | €3,409 | €3,409 | = | 0.0% |
| Transfer to deferred taxes | 680 | - | €166,517 | +€166,517 | |
| Income taxes | 67/77 | €17,938 | €15,409 | -€2,529 | -14.1% |
| Profit (loss) for the period | 9904 | €25,906 | €521,919 | +€496,013 | +1914.7% |
| Transfer from tax-exempt reserves | 789 | €10,226 | €10,226 | = | 0.0% |
| Transfer to tax-exempt reserves | 689 | - | €499,552 | +€499,552 | |
| Profit (loss) for the period to be appropriated | 9905 | €36,132 | €32,593 | -€3,539 | -9.8% |
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 3 October 2026 via checked.be.