TREVI: 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
TREVI
NACE 37.000, Sewerage
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€1.5m
2024 · €2.9m-€1.4m
Equity
€9.9m
2024 · €8.4m+€1.5m
Cash
€328,548
2024 · €166,347+€162,201
Balance sheet total
€25.6m
2024 · €24.4m+€1.2m
Largest movements
Assets
- Stocks and contracts +€859,368
up €859,368 (+25.5%), from €3.4m to €4.2m
of which Contracts in progress: +€2.6m
- Tangible fixed assets +€717,611
up €717,611 (+8.6%), from €8.4m to €9.1m
of which Furniture and vehicles: +€1.1m
- Receivables within one year -€587,820
down €587,820 (-5.6%), from €10.6m to €10.0m
of which Trade receivables: -€343,242
- Deferred charges and accrued income +€305,457
up €305,457 (+92.4%), from €330,437 to €635,895
Equity and liabilities
- Reserves +€1.5m
up €1.5m (+18.4%), from €8.1m to €9.6m
of which Distributable reserves: +€1.5m
- Advances received +€884,437
up €884,437 (+64.5%), from €1.4m to €2.3m
- Debts after one year -€721,143
down €721,143 (-15.7%), from €4.6m to €3.9m
- Trade debts -€436,228
down €436,228 (-12.6%), from €3.5m to €3.0m
Income statement
- Turnover -€21.7m
down €21.7m (-37.5%), from €58.0m to €36.2m
- Goods and materials -€18.4m
down €18.4m (-53.2%), from €34.7m to €16.2m
of which Purchases: -€17.3m
- Staff costs -€2.0m
down €2.0m (-15.1%), from €13.5m to €11.5m
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
€2.9m
Turnover
-€21.7m
Other operating income
-€85,320
Goods and materials
+€18.4m
Services and other goods
+€6,766
Staff costs
+€2.0m
Depreciation
-€29,990
Write-downs
+€82,454
Provisions
+€7,957
Other operating charges
+€61,526
Other operating items
-€452,670
Financial income
-€42,727
Financial charges
-€25,965
Taxes
+€354,559
Deferred taxes and other
-€2,889
Result 2025
€1.5m
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
+€3.8m
Investment
-€2.9m
Financing
-€721,143
Cash 2024
€166,347
From operations (derived)
+€3.8m
Net result for the year
+€1.5m
Depreciation
+€2.5m
Stocks and contracts
-€859,368
Receivables within one year
+€587,820
Deferred charges and accrued income
-€305,457
Provisions
-€11,354
Trade debts
-€436,228
Tax, wage and social debts
+€180,815
Advances received
+€884,437
Other debts
-€233,672
Accrued charges and deferred income
+€17,041
Investment (derived)
-€2.9m
Investment in fixed assets (net)
-€2.9m
Financing
-€721,143
Debts after one year
-€721,143
Cash 2025
€328,548
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €24,404,423 | €25,576,873 | +€1.2m | +4.8% |
| Fixed assets | 21/28 | €9,955,731 | €10,388,974 | +€433,243 | +4.4% |
| Intangible fixed assets | 21 | €1,393,650 | €1,275,372 | -€118,278 | -8.5% |
| Tangible fixed assets | 22/27 | €8,389,991 | €9,107,602 | +€717,611 | +8.6% |
| Land and buildings | 22 | €339,492 | €411,829 | +€72,338 | +21.3% |
| Plant, machinery and equipment | 23 | €6,516,708 | €6,037,075 | -€479,633 | -7.4% |
| Furniture and vehicles | 24 | €1,533,791 | €2,658,698 | +€1.1m | +73.3% |
| Financial fixed assets | 28 | €172,090 | €6,000 | -€166,090 | -96.5% |
| Affiliated companies | 280/1 | €172,090 | €6,000 | -€166,090 | -96.5% |
| Participating interests | 280 | €172,090 | €6,000 | -€166,090 | -96.5% |
| Current assets | 29/58 | €14,448,692 | €15,187,899 | +€739,207 | +5.1% |
| Amounts receivable after more than one year | 29 | €34,990 | €34,990 | = | 0.0% |
| Other amounts receivable | 291 | €34,990 | €34,990 | = | 0.0% |
| Stocks and contracts in progress | 3 | €3,366,008 | €4,225,376 | +€859,368 | +25.5% |
| Stocks | 30/36 | €2,897,142 | €1,135,008 | -€1.8m | -60.8% |
| Raw materials and consumables | 30/31 | €2,897,142 | €1,135,008 | -€1.8m | -60.8% |
| Contracts in progress | 37 | €468,866 | €3,090,369 | +€2.6m | +559.1% |
| Amounts receivable within one year | 40/41 | €10,550,909 | €9,963,090 | -€587,820 | -5.6% |
| Trade receivables | 40 | €10,073,641 | €9,730,400 | -€343,242 | -3.4% |
| Other amounts receivable | 41 | €477,268 | €232,690 | -€244,578 | -51.2% |
| Cash at bank and in hand | 54/58 | €166,347 | €328,548 | +€162,201 | +97.5% |
| Deferred charges and accrued income | 490/1 | €330,437 | €635,895 | +€305,457 | +92.4% |
| Total equity and liabilities | 10/49 | €24,404,423 | €25,576,873 | +€1.2m | +4.8% |
| Equity | 10/15 | €8,426,787 | €9,919,342 | +€1.5m | +17.7% |
| Contributions | 10/11 | €331,100 | €331,100 | = | 0.0% |
| Capital | 10 | €331,100 | €331,100 | = | 0.0% |
| Issued capital | 100 | €331,100 | €331,100 | = | 0.0% |
| Reserves | 13 | €8,095,687 | €9,588,242 | +€1.5m | +18.4% |
| Non-distributable reserves | 130/1 | €33,110 | €33,110 | = | 0.0% |
| Legal reserve | 130 | €33,110 | €33,110 | = | 0.0% |
| Tax-exempt reserves | 132 | €8,062,577 | €8,027,912 | -€34,665 | -0.4% |
| Distributable reserves | 133 | - | €1,527,219 | +€1.5m | |
| Provisions and deferred taxes | 16 | €54,808 | €43,454 | -€11,354 | -20.7% |
| Provisions for liabilities and charges | 160/5 | €32,666 | €32,867 | +€201 | +0.6% |
| Other liabilities and charges | 164/5 | €32,666 | €32,867 | +€201 | +0.6% |
| Deferred taxes | 168 | €22,142 | €10,587 | -€11,555 | -52.2% |
| Amounts payable | 17/49 | €15,922,828 | €15,614,078 | -€308,750 | -1.9% |
| Amounts payable after more than one year | 17 | €4,594,155 | €3,873,012 | -€721,143 | -15.7% |
| Financial debts | 170/4 | €4,594,155 | €3,873,012 | -€721,143 | -15.7% |
| Credit institutions | 173 | €4,594,155 | €3,873,012 | -€721,143 | -15.7% |
| Amounts payable within one year | 42/48 | €11,317,074 | €11,712,425 | +€395,351 | +3.5% |
| Current portion of amounts payable after more than one year | 42 | €721,143 | €721,143 | = | 0.0% |
| Trade debts | 44 | €3,451,515 | €3,015,287 | -€436,228 | -12.6% |
| Suppliers | 440/4 | €3,451,515 | €3,015,287 | -€436,228 | -12.6% |
| Advances received on contracts in progress | 46 | €1,371,198 | €2,255,635 | +€884,437 | +64.5% |
| Taxes, remuneration and social security | 45 | €1,181,655 | €1,362,469 | +€180,815 | +15.3% |
| Taxes | 450/3 | €22,521 | €10,406 | -€12,115 | -53.8% |
| Remuneration and social security | 454/9 | €1,159,134 | €1,352,063 | +€192,929 | +16.6% |
| Other amounts payable | 47/48 | €4,591,564 | €4,357,891 | -€233,672 | -5.1% |
| Accrued charges and deferred income | 492/3 | €11,600 | €28,641 | +€17,041 | +146.9% |
| Operating income | 70/76A | €60,111,254 | €37,797,408 | -€22.3m | -37.1% |
| Turnover | 70 | €57,960,982 | €36,218,373 | -€21.7m | -37.5% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | €192,284 | €150,493 | -€41,791 | -21.7% |
| Own construction capitalised | 72 | €1,223,083 | €863,789 | -€359,293 | -29.4% |
| Other operating income | 74 | €550,322 | €465,002 | -€85,320 | -15.5% |
| Non-recurring operating income | 76A | €184,583 | €99,751 | -€84,832 | -46.0% |
| Operating charges | 60/66A | €56,464,166 | €35,825,656 | -€20.6m | -36.6% |
| Goods for resale, raw materials and consumables | 60 | €34,684,226 | €16,248,978 | -€18.4m | -53.2% |
| Purchases | 600/8 | €34,230,662 | €16,922,638 | -€17.3m | -50.6% |
| Change in stocks: decrease (increase) | 609 | €453,564 | -€673,659 | -€1.1m | |
| Services and other goods | 61 | €5,429,604 | €5,422,838 | -€6,766 | -0.1% |
| Remuneration, social security and pensions | 62 | €13,549,178 | €11,507,876 | -€2.0m | -15.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,440,897 | €2,470,888 | +€29,990 | +1.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €122,814 | €40,359 | -€82,454 | -67.1% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €8,158 | €201 | -€7,957 | -97.5% |
| Other operating charges | 640/8 | €186,421 | €124,895 | -€61,526 | -33.0% |
| Non-recurring operating charges | 66A | €42,868 | €9,621 | -€33,247 | -77.6% |
| Operating profit (loss) | 9901 | €3,647,088 | €1,971,752 | -€1.7m | -45.9% |
| Financial income | 75/76B | €97,583 | €54,857 | -€42,727 | -43.8% |
| Recurring financial income | 75 | €97,583 | €54,857 | -€42,727 | -43.8% |
| Income from financial fixed assets | 750 | €36,616 | €27,674 | -€8,942 | -24.4% |
| Income from current assets | 751 | €11,506 | €411 | -€11,095 | -96.4% |
| Other financial income | 752/9 | €49,461 | €26,772 | -€22,690 | -45.9% |
| Financial charges | 65/66B | €158,687 | €184,652 | +€25,965 | +16.4% |
| Recurring financial charges | 65 | €158,687 | €184,652 | +€25,965 | +16.4% |
| Debt charges | 650 | €130,945 | €127,705 | -€3,240 | -2.5% |
| Other financial charges | 652/9 | €27,741 | €56,947 | +€29,205 | +105.3% |
| Profit (loss) for the period before taxes | 9903 | €3,585,984 | €1,841,957 | -€1.7m | -48.6% |
| Transfer from deferred taxes | 780 | €14,444 | €11,555 | -€2,889 | -20.0% |
| Income taxes | 67/77 | €715,516 | €360,957 | -€354,559 | -49.6% |
| Taxes | 670/3 | €715,516 | €360,957 | -€354,559 | -49.6% |
| Tax adjustments and reversals of tax provisions | 77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | €2,884,912 | €1,492,555 | -€1.4m | -48.3% |
| Transfer from tax-exempt reserves | 789 | €221,331 | €34,665 | -€186,666 | -84.3% |
| Transfer to tax-exempt reserves | 689 | €236,749 | €0 | -€236,749 | -100.0% |
| Profit (loss) for the period to be appropriated | 9905 | €2,869,494 | €1,527,219 | -€1.3m | -46.8% |
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 6 October 2026 via checked.be.