TRIANGLE - PARTNERS: 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.
TRIANGLE - PARTNERS
Largest movements
- Cash -€149,229
down €149,229 (-61.5%), from €242,540 to €93,311
mainly Contributions, distributions and other (-€200,000) and Other debts (-€60,000)
- Receivables within one year +€52,389
up €52,389 (+40.0%), from €130,861 to €183,250
of which Trade receivables: +€66,401
- Receivables after one year +€20,000
up €20,000 (+5.1%), from €393,956 to €413,956
- Intangible fixed assets -€14,108
down €14,108 (-12.5%), from €112,861 to €98,753
- Other debts -€60,000
down €60,000 (-18.5%), from €323,582 to €263,582
- Debts after one year -€45,782
down €45,782 (-30.4%), from €150,646 to €104,864
- Profit (loss) carried forward +€34,403
up €34,403 (+33.5%), from €102,770 to €137,173
- Advances received +€23,749
new in 2025: €23,749
- Short-term financial debts -€20,000
down €20,000 (-16.7%), from €120,000 to €100,000
- Staff costs +€133,369
up €133,369 (+27.6%), from €483,872 to €617,241
- Gross operating margin +€120,907
up €120,907 (+13.7%), from €881,200 to €1.0m
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 | €926,444 | €833,138 | -€93,306 | -10.1% |
| Fixed assets | 21/28 | €139,242 | €127,996 | -€11,247 | -8.1% |
| Intangible fixed assets | 21 | €112,861 | €98,753 | -€14,108 | -12.5% |
| Tangible fixed assets | 22/27 | €24,693 | €27,554 | +€2,861 | +11.6% |
| Furniture and vehicles | 24 | €24,693 | €27,554 | +€2,861 | +11.6% |
| Financial fixed assets | 28 | €1,689 | €1,689 | = | 0.0% |
| Current assets | 29/58 | €787,201 | €705,142 | -€82,059 | -10.4% |
| Amounts receivable after more than one year | 29 | €393,956 | €413,956 | +€20,000 | +5.1% |
| Other amounts receivable | 291 | €393,956 | €413,956 | +€20,000 | +5.1% |
| Amounts receivable within one year | 40/41 | €130,861 | €183,250 | +€52,389 | +40.0% |
| Trade receivables | 40 | €115,791 | €182,192 | +€66,401 | +57.3% |
| Other amounts receivable | 41 | €15,070 | €1,058 | -€14,012 | -93.0% |
| Cash at bank and in hand | 54/58 | €242,540 | €93,311 | -€149,229 | -61.5% |
| Deferred charges and accrued income | 490/1 | €19,845 | €14,625 | -€5,220 | -26.3% |
| Total equity and liabilities | 10/49 | €926,444 | €833,138 | -€93,306 | -10.1% |
| Equity | 10/15 | €170,970 | €205,373 | +€34,403 | +20.1% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €6,200 | €6,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €102,770 | €137,173 | +€34,403 | +33.5% |
| Amounts payable | 17/49 | €755,474 | €627,765 | -€127,709 | -16.9% |
| Amounts payable after more than one year | 17 | €150,646 | €104,864 | -€45,782 | -30.4% |
| Financial debts | 170/4 | €150,646 | €104,864 | -€45,782 | -30.4% |
| Amounts payable within one year | 42/48 | €604,828 | €522,901 | -€81,927 | -13.5% |
| Current portion of amounts payable after more than one year | 42 | €44,962 | €45,782 | +€820 | +1.8% |
| Financial debts | 43 | €120,000 | €100,000 | -€20,000 | -16.7% |
| Credit institutions | 430/8 | €120,000 | €100,000 | -€20,000 | -16.7% |
| Trade debts | 44 | €15,058 | €2,078 | -€12,979 | -86.2% |
| Suppliers | 440/4 | €15,058 | €2,078 | -€12,979 | -86.2% |
| Advances received on contracts in progress | 46 | - | €23,749 | +€23,749 | |
| Taxes, remuneration and social security | 45 | €101,227 | €87,710 | -€13,517 | -13.4% |
| Taxes | 450/3 | €31,293 | - | -€31,293 | |
| Remuneration and social security | 454/9 | €69,934 | €87,710 | +€17,776 | +25.4% |
| Other amounts payable | 47/48 | €323,582 | €263,582 | -€60,000 | -18.5% |
| Remuneration, social security and pensions | 62 | €483,872 | €617,241 | +€133,369 | +27.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,670 | €22,721 | +€3,051 | +15.5% |
| Other operating charges | 640/8 | €7,457 | €1,386 | -€6,071 | -81.4% |
| Non-recurring operating charges | 66A | €9,474 | - | -€9,474 | |
| Gross operating margin | 9900 | €881,200 | €1,002,107 | +€120,907 | +13.7% |
| Operating profit (loss) | 9901 | €360,728 | €360,759 | +€31 | 0.0% |
| Financial charges | 65/66B | €28,727 | €27,415 | -€1,312 | -4.6% |
| Recurring financial charges | 65 | €10,743 | €15,448 | +€4,705 | +43.8% |
| Non-recurring financial charges | 66B | €17,984 | €11,966 | -€6,017 | -33.5% |
| Profit (loss) for the period before taxes | 9903 | €332,001 | €333,345 | +€1,343 | +0.4% |
| Income taxes | 67/77 | €104,930 | €98,942 | -€5,988 | -5.7% |
| Profit (loss) for the period | 9904 | €227,072 | €234,403 | +€7,331 | +3.2% |
| Profit (loss) for the period to be appropriated | 9905 | €227,072 | €234,403 | +€7,331 | +3.2% |
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.