Tricorne: what changed
Two financial 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.
Tricorne
Largest movements
- Tangible fixed assets +€2.6m
up €2.6m (+604%), from €437,722 to €3.1m
of which Land and buildings: +€2.6m
- Receivables within one year +€1.2m
up €1.2m (+12,001%), from €10,320 to €1.2m
of which Other amounts receivable: +€1.2m
- Cash -€360,123
down €360,123 (-94.0%), from €383,199 to €23,076
mainly Investment in fixed assets (net) (-€2.7m) and Receivables within one year (-€1.2m)
- Revaluation surpluses +€2.4m
new in 2025: €2.4m
- Debts after one year +€997,417
new in 2025: €997,417
- Trade debts +€205,690
up €205,690 (+20,755%), from €991 to €206,681
- Profit (loss) carried forward -€127,601
down €127,601 (-20.1%), from €634,523 to €506,922
- Financial income -€163,796
no longer reported in 2025 (was €163,796)
- Gross operating margin -€92,620
down €92,620, from €86,474 to -€6,146
- Financial charges -€75,367
down €75,367 (-76.5%), from €98,511 to €23,144
- Taxes -€32,334
down €32,334 (-99.1%), from €32,634 to €300
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.
Derived cash bridge
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 | €834,254 | €4,374,822 | +€3.5m | +424% |
| Fixed assets | 21/28 | €437,722 | €3,099,749 | +€2.7m | +608% |
| Tangible fixed assets | 22/27 | €437,722 | €3,083,648 | +€2.6m | +604% |
| Land and buildings | 22 | €433,647 | €3,077,527 | +€2.6m | +610% |
| Plant, machinery and equipment | 23 | €3,822 | €5,931 | +€2,109 | +55.2% |
| Furniture and vehicles | 24 | €254 | €190 | -€63 | -25.0% |
| Financial fixed assets | 28 | - | €16,101 | +€16,101 | |
| Current assets | 29/58 | €396,532 | €1,275,073 | +€878,541 | +222% |
| Amounts receivable within one year | 40/41 | €10,320 | €1,248,845 | +€1.2m | +12,001% |
| Trade receivables | 40 | €10,320 | €18,937 | +€8,617 | +83.5% |
| Other amounts receivable | 41 | - | €1,229,908 | +€1.2m | |
| Cash at bank and in hand | 54/58 | €383,199 | €23,076 | -€360,123 | -94.0% |
| Deferred charges and accrued income | 490/1 | €3,012 | €3,152 | +€140 | +4.6% |
| Total equity and liabilities | 10/49 | €834,254 | €4,374,822 | +€3.5m | +424% |
| Equity | 10/15 | €816,877 | €3,089,276 | +€2.3m | +278% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Revaluation surpluses | 12 | - | €2,400,000 | +€2.4m | |
| Reserves | 13 | €120,855 | €120,855 | = | 0.0% |
| Non-distributable reserves | 130/1 | €120,855 | €120,855 | = | 0.0% |
| Legal reserve | 130 | €120,855 | €120,855 | = | 0.0% |
| Profit (loss) carried forward | 14 | €634,523 | €506,922 | -€127,601 | -20.1% |
| Amounts payable | 17/49 | €17,377 | €1,285,546 | +€1.3m | +7,298% |
| Amounts payable after more than one year | 17 | - | €997,417 | +€997,417 | |
| Financial debts | 170/4 | - | €997,417 | +€997,417 | |
| Amounts payable within one year | 42/48 | €15,428 | €288,129 | +€272,701 | +1,768% |
| Current portion of amounts payable after more than one year | 42 | - | €38,744 | +€38,744 | |
| Financial debts | 43 | - | €27,967 | +€27,967 | |
| Credit institutions | 430/8 | - | €27,967 | +€27,967 | |
| Trade debts | 44 | €991 | €206,681 | +€205,690 | +20,755% |
| Suppliers | 440/4 | €991 | €206,681 | +€205,690 | +20,755% |
| Advances received on contracts in progress | 46 | €5,720 | - | -€5,720 | |
| Taxes, remuneration and social security | 45 | €8,717 | €9,017 | +€300 | +3.4% |
| Taxes | 450/3 | €8,717 | €9,017 | +€300 | +3.4% |
| Other amounts payable | 47/48 | - | €5,720 | +€5,720 | |
| Accrued charges and deferred income | 492/3 | €1,948 | - | -€1,948 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €53,898 | €53,458 | -€440 | -0.8% |
| Other operating charges | 640/8 | €43,885 | €44,554 | +€669 | +1.5% |
| Gross operating margin | 9900 | €86,474 | -€6,146 | -€92,620 | |
| Operating profit (loss) | 9901 | -€11,308 | -€104,158 | -€92,850 | -821% |
| Financial income | 75/76B | €163,796 | - | -€163,796 | |
| Recurring financial income | 75 | €163,796 | - | -€163,796 | |
| Financial charges | 65/66B | €98,511 | €23,144 | -€75,367 | -76.5% |
| Recurring financial charges | 65 | €98,511 | €23,144 | -€75,367 | -76.5% |
| Profit (loss) for the period before taxes | 9903 | €53,977 | -€127,301 | -€181,278 | |
| Income taxes | 67/77 | €32,634 | €300 | -€32,334 | -99.1% |
| Profit (loss) for the period | 9904 | €21,343 | -€127,601 | -€148,944 | |
| Profit (loss) for the period to be appropriated | 9905 | €21,343 | -€127,601 | -€148,944 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.