TRILHA: 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.
TRILHA
Largest movements
- Receivables within one year -€32,256
down €32,256 (-35.6%), from €90,627 to €58,371
of which Trade receivables: -€58,092
- Stocks and contracts -€16,250
down €16,250 (-14.4%), from €112,541 to €96,291
- Cash +€14,493
up €14,493 (+8.7%), from €165,637 to €180,130
mainly Receivables within one year (+€32,256) and Stocks and contracts (+€16,250)
- Other debts -€26,756
down €26,756 (-17.7%), from €150,970 to €124,214
- Trade debts -€9,419
down €9,419 (-45.9%), from €20,514 to €11,095
- Gross operating margin -€90,373
down €90,373 (-91.8%), from €98,433 to €8,060
- Taxes -€30,825
down €30,825 (-92.9%), from €33,194 to €2,370
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 | €370,062 | €339,132 | -€30,931 | -8.4% |
| Fixed assets | 21/28 | €1,258 | €4,340 | +€3,082 | +245% |
| Tangible fixed assets | 22/27 | €958 | €4,040 | +€3,082 | +322% |
| Furniture and vehicles | 24 | €958 | €4,040 | +€3,082 | +322% |
| Financial fixed assets | 28 | €300 | €300 | = | 0.0% |
| Current assets | 29/58 | €368,805 | €334,792 | -€34,013 | -9.2% |
| Stocks and contracts in progress | 3 | €112,541 | €96,291 | -€16,250 | -14.4% |
| Stocks | 30/36 | €112,541 | €96,291 | -€16,250 | -14.4% |
| Amounts receivable within one year | 40/41 | €90,627 | €58,371 | -€32,256 | -35.6% |
| Trade receivables | 40 | €73,411 | €15,319 | -€58,092 | -79.1% |
| Other amounts receivable | 41 | €17,216 | €43,053 | +€25,837 | +150% |
| Cash at bank and in hand | 54/58 | €165,637 | €180,130 | +€14,493 | +8.7% |
| Total equity and liabilities | 10/49 | €370,062 | €339,132 | -€30,931 | -8.4% |
| Equity | 10/15 | €115,184 | €118,576 | +€3,392 | +2.9% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €95,184 | €98,576 | +€3,392 | +3.6% |
| Distributable reserves | 133 | €95,184 | €98,576 | +€3,392 | +3.6% |
| Amounts payable | 17/49 | €254,878 | €220,555 | -€34,323 | -13.5% |
| Amounts payable after more than one year | 17 | €50,000 | €50,000 | = | 0.0% |
| Financial debts | 170/4 | €50,000 | €50,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €204,678 | €170,355 | -€34,323 | -16.8% |
| Trade debts | 44 | €20,514 | €11,095 | -€9,419 | -45.9% |
| Suppliers | 440/4 | €20,514 | €11,095 | -€9,419 | -45.9% |
| Taxes, remuneration and social security | 45 | €33,194 | €35,046 | +€1,852 | +5.6% |
| Taxes | 450/3 | €33,194 | €35,046 | +€1,852 | +5.6% |
| Other amounts payable | 47/48 | €150,970 | €124,214 | -€26,756 | -17.7% |
| Accrued charges and deferred income | 492/3 | €200 | €200 | = | 0.0% |
| Remuneration, social security and pensions | 62 | - | €787 | +€787 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,086 | €1,199 | +€113 | +10.4% |
| Gross operating margin | 9900 | €98,433 | €8,060 | -€90,373 | -91.8% |
| Operating profit (loss) | 9901 | €97,347 | €6,073 | -€91,274 | -93.8% |
| Financial charges | 65/66B | €310 | €311 | +€1 | +0.4% |
| Recurring financial charges | 65 | €310 | €311 | +€1 | +0.4% |
| Profit (loss) for the period before taxes | 9903 | €97,037 | €5,762 | -€91,275 | -94.1% |
| Income taxes | 67/77 | €33,194 | €2,370 | -€30,825 | -92.9% |
| Profit (loss) for the period | 9904 | €63,842 | €3,392 | -€60,450 | -94.7% |
| Profit (loss) for the period to be appropriated | 9905 | €63,842 | €3,392 | -€60,450 | -94.7% |
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 22 October 2026 via checked.be.