TRIANON: 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.
TRIANON
Largest movements
- Receivables within one year -€60,973
down €60,973 (-36.8%), from €165,801 to €104,827
- Tangible fixed assets +€21,191
up €21,191 (+16.3%), from €129,728 to €150,919
of which Other tangible fixed assets: +€30,718
- Cash -€5,613
down €5,613 (-27.9%), from €20,124 to €14,512
mainly Investment in fixed assets (net) (-€74,336) and Net result for the year (-€17,709)
- Profit (loss) carried forward -€17,709
down €17,709 (-17.9%), from -€99,076 to -€116,785
- Short-term financial debts -€15,000
no longer reported in 2025 (was €15,000)
- Trade debts -€11,274
down €11,274 (-31.0%), from €36,399 to €25,125
- Current portion of long-term debt -€5,724
no longer reported in 2025 (was €5,724)
- Tax, wage and social debts +€4,067
up €4,067 (+17.2%), from €23,665 to €27,731
of which Taxes: +€3,108
- Gross operating margin -€69,853
down €69,853 (-23.5%), from €297,489 to €227,637
- Depreciation -€24,966
down €24,966 (-32.0%), from €78,111 to €53,145
- Taxes -€7,167
down €7,167 (-91.2%), from €7,862 to €695
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 | €331,229 | €284,743 | -€46,487 | -14.0% |
| Fixed assets | 21/28 | €130,558 | €151,749 | +€21,191 | +16.2% |
| Tangible fixed assets | 22/27 | €129,728 | €150,919 | +€21,191 | +16.3% |
| Plant, machinery and equipment | 23 | €43,542 | €39,237 | -€4,305 | -9.9% |
| Furniture and vehicles | 24 | €18,638 | €13,417 | -€5,221 | -28.0% |
| Other tangible fixed assets | 26 | €67,548 | €98,266 | +€30,718 | +45.5% |
| Financial fixed assets | 28 | €830 | €830 | = | 0.0% |
| Current assets | 29/58 | €200,672 | €132,994 | -€67,678 | -33.7% |
| Stocks and contracts in progress | 3 | €3,979 | €3,737 | -€242 | -6.1% |
| Stocks | 30/36 | €3,979 | €3,737 | -€242 | -6.1% |
| Amounts receivable within one year | 40/41 | €165,801 | €104,827 | -€60,973 | -36.8% |
| Other amounts receivable | 41 | €165,801 | €104,827 | -€60,973 | -36.8% |
| Cash at bank and in hand | 54/58 | €20,124 | €14,512 | -€5,613 | -27.9% |
| Deferred charges and accrued income | 490/1 | €10,768 | €9,918 | -€850 | -7.9% |
| Total equity and liabilities | 10/49 | €331,229 | €284,743 | -€46,487 | -14.0% |
| Equity | 10/15 | €248,525 | €230,816 | -€17,709 | -7.1% |
| 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 | €285,601 | €285,601 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €27,354 | €27,354 | = | 0.0% |
| Distributable reserves | 133 | €252,047 | €252,047 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€99,076 | -€116,785 | -€17,709 | -17.9% |
| Amounts payable | 17/49 | €82,704 | €53,926 | -€28,778 | -34.8% |
| Amounts payable within one year | 42/48 | €80,788 | €52,856 | -€27,931 | -34.6% |
| Current portion of amounts payable after more than one year | 42 | €5,724 | - | -€5,724 | |
| Financial debts | 43 | €15,000 | - | -€15,000 | |
| Credit institutions | 430/8 | €15,000 | - | -€15,000 | |
| Trade debts | 44 | €36,399 | €25,125 | -€11,274 | -31.0% |
| Suppliers | 440/4 | €36,399 | €25,125 | -€11,274 | -31.0% |
| Taxes, remuneration and social security | 45 | €23,665 | €27,731 | +€4,067 | +17.2% |
| Taxes | 450/3 | €4,851 | €7,959 | +€3,108 | +64.1% |
| Remuneration and social security | 454/9 | €18,813 | €19,772 | +€959 | +5.1% |
| Accrued charges and deferred income | 492/3 | €1,916 | €1,070 | -€846 | -44.2% |
| Remuneration, social security and pensions | 62 | €168,216 | €165,279 | -€2,937 | -1.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €78,111 | €53,145 | -€24,966 | -32.0% |
| Other operating charges | 640/8 | €16,572 | €16,077 | -€495 | -3.0% |
| Non-recurring operating charges | 66A | €1,686 | - | -€1,686 | |
| Gross operating margin | 9900 | €297,489 | €227,637 | -€69,853 | -23.5% |
| Operating profit (loss) | 9901 | €32,905 | -€6,864 | -€39,769 | |
| Financial income | 75/76B | €17 | €11 | -€6 | -37.2% |
| Recurring financial income | 75 | €17 | €11 | -€6 | -37.2% |
| Financial charges | 65/66B | €10,300 | €10,161 | -€139 | -1.4% |
| Recurring financial charges | 65 | €10,300 | €10,161 | -€139 | -1.4% |
| Profit (loss) for the period before taxes | 9903 | €22,622 | -€17,014 | -€39,636 | |
| Income taxes | 67/77 | €7,862 | €695 | -€7,167 | -91.2% |
| Profit (loss) for the period | 9904 | €14,760 | -€17,709 | -€32,469 | |
| Profit (loss) for the period to be appropriated | 9905 | €14,760 | -€17,709 | -€32,469 |
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 30 September 2026 via checked.be.