Tri-M: 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.
Tri-M
Largest movements
- Receivables after one year -€1.2m
down €1.2m (-57.7%), from €2.1m to €870,270
- Current investments -€475,525
down €475,525 (-100.0%), from €475,525 to €0
- Receivables within one year +€169,580
up €169,580 (+55.1%), from €307,653 to €477,233
of which Other amounts receivable: +€309,247
- Cash +€98,111
up €98,111 (+86.3%), from €113,739 to €211,850
mainly Receivables after one year (+€1.2m) and Current investments (+€475,525)
- Other debts -€1.2m
down €1.2m (-65.4%), from €1.9m to €651,515
- Debts after one year -€174,357
down €174,357 (-8.8%), from €2.0m to €1.8m
of which Financial debts: -€174,357
- Financial income -€128,139
down €128,139 (-88.1%), from €145,455 to €17,316
- Gross operating margin +€84,239
up €84,239 (+290.0%), from €29,044 to €113,283
- Financial charges -€13,453
down €13,453 (-28.1%), from €47,852 to €34,400
- Other operating charges -€4,020
down €4,020 (-19.7%), from €20,453 to €16,433
- Depreciation +€3,166
up €3,166 (+3.2%), from €97,592 to €100,758
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 | €5,526,318 | €4,102,052 | -€1.4m | -25.8% |
| Fixed assets | 21/28 | €2,570,888 | €2,541,513 | -€29,375 | -1.1% |
| Tangible fixed assets | 22/27 | €2,570,788 | €2,541,413 | -€29,375 | -1.1% |
| Land and buildings | 22 | €2,570,788 | €2,471,940 | -€98,848 | -3.8% |
| Furniture and vehicles | 24 | €0 | €69,473 | +€69,473 | |
| Financial fixed assets | 28 | €100 | €100 | = | 0.0% |
| Current assets | 29/58 | €2,955,430 | €1,560,538 | -€1.4m | -47.2% |
| Amounts receivable after more than one year | 29 | €2,058,512 | €870,270 | -€1.2m | -57.7% |
| Other amounts receivable | 291 | €2,058,512 | €870,270 | -€1.2m | -57.7% |
| Amounts receivable within one year | 40/41 | €307,653 | €477,233 | +€169,580 | +55.1% |
| Trade receivables | 40 | €229,667 | €90,000 | -€139,667 | -60.8% |
| Other amounts receivable | 41 | €77,986 | €387,233 | +€309,247 | +396.5% |
| Current investments | 50/53 | €475,525 | €0 | -€475,525 | -100.0% |
| Cash at bank and in hand | 54/58 | €113,739 | €211,850 | +€98,111 | +86.3% |
| Deferred charges and accrued income | 490/1 | €0 | €1,186 | +€1,186 | |
| Total equity and liabilities | 10/49 | €5,526,318 | €4,102,052 | -€1.4m | -25.8% |
| Equity | 10/15 | €1,008,645 | €992,613 | -€16,033 | -1.6% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €908,645 | €892,613 | -€16,033 | -1.8% |
| Tax-exempt reserves | 132 | €318,104 | €300,515 | -€17,588 | -5.5% |
| Distributable reserves | 133 | €590,542 | €592,097 | +€1,556 | +0.3% |
| Provisions and deferred taxes | 16 | €106,035 | €100,172 | -€5,863 | -5.5% |
| Deferred taxes | 168 | €106,035 | €100,172 | -€5,863 | -5.5% |
| Amounts payable | 17/49 | €4,411,638 | €3,009,267 | -€1.4m | -31.8% |
| Amounts payable after more than one year | 17 | €1,975,715 | €1,801,357 | -€174,357 | -8.8% |
| Financial debts | 170/4 | €1,975,715 | €1,801,357 | -€174,357 | -8.8% |
| Other amounts payable | 178/9 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €2,407,188 | €1,163,868 | -€1.2m | -51.7% |
| Current portion of amounts payable after more than one year | 42 | €178,743 | €174,357 | -€4,386 | -2.5% |
| Trade debts | 44 | €328,239 | €337,703 | +€9,463 | +2.9% |
| Suppliers | 440/4 | €328,239 | €337,703 | +€9,463 | +2.9% |
| Taxes, remuneration and social security | 45 | €15,323 | €293 | -€15,031 | -98.1% |
| Taxes | 450/3 | €15,323 | €293 | -€15,031 | -98.1% |
| Other amounts payable | 47/48 | €1,884,882 | €651,515 | -€1.2m | -65.4% |
| Accrued charges and deferred income | 492/3 | €28,736 | €44,042 | +€15,306 | +53.3% |
| Non-recurring operating income | 76A | €2,701 | €0 | -€2,701 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €97,592 | €100,758 | +€3,166 | +3.2% |
| Other operating charges | 640/8 | €20,453 | €16,433 | -€4,020 | -19.7% |
| Gross operating margin | 9900 | €29,044 | €113,283 | +€84,239 | +290.0% |
| Operating profit (loss) | 9901 | -€89,001 | -€3,909 | +€85,093 | +95.6% |
| Financial income | 75/76B | €145,455 | €17,316 | -€128,139 | -88.1% |
| Recurring financial income | 75 | €145,455 | €17,316 | -€128,139 | -88.1% |
| Financial charges | 65/66B | €47,852 | €34,400 | -€13,453 | -28.1% |
| Recurring financial charges | 65 | €47,852 | €34,400 | -€13,453 | -28.1% |
| Profit (loss) for the period before taxes | 9903 | €8,601 | -€20,992 | -€29,594 | |
| Transfer from deferred taxes | 780 | €5,863 | €5,863 | = | 0.0% |
| Income taxes | 67/77 | €215 | €903 | +€688 | +319.4% |
| Profit (loss) for the period | 9904 | €14,249 | -€16,033 | -€30,282 | |
| Transfer from tax-exempt reserves | 789 | €17,588 | €17,588 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €31,837 | €1,556 | -€30,282 | -95.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 September 2026 via checked.be.