Trinity Real Estate: what changed
What changed
Trinity Real Estate
NACE 68.203, Renting and operating of own or leased non-residential real estate, excluding land
filed annual accounts (NBB)
Net result for the year
€419,765
2024 · -€14,194+€433,959
Equity
€732,164
2024 · €312,398+€419,765
Cash
€91,037
2024 · €39,437+€51,600
Balance sheet total
€4.0m
2024 · €3.7m+€314,287
Largest movements
Assets
- Financial fixed assets +€1.0m
new in 2025: €1.0m
- Tangible fixed assets -€740,985
down €740,985 (-20.4%), from €3.6m to €2.9m
of which Land and buildings: -€734,577
- Cash +€51,600
up €51,600 (+131%), from €39,437 to €91,037
mainly Net result for the year (+€419,765) and Depreciation (+€86,947)
Equity and liabilities
- Reserves +€419,765
up €419,765 (+143%), from €293,798 to €713,564
- Short-term financial debts -€68,181
down €68,181 (-15.4%), from €443,181 to €375,000
Income statement
- Gross operating margin +€442,640
up €442,640 (+190%), from €232,420 to €675,060
- Taxes +€29,775
up €29,775, from -€2,170 to €27,605
- Depreciation -€17,312
down €17,312 (-16.6%), from €104,259 to €86,947
- Other operating charges -€15,366
down €15,366 (-17.9%), from €86,019 to €70,652
- Financial charges +€11,584
up €11,584 (+19.8%), from €58,507 to €70,090
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
-€14,194
Gross operating margin
+€442,640
Depreciation
+€17,312
Other operating charges
+€15,366
Financial charges
-€11,584
Taxes
-€29,775
Result 2025
€419,765
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€503,666
Investment
-€375,962
Financing
-€76,105
Cash 2024
€39,437
From operations (derived)
+€503,666
Net result for the year
+€419,765
Depreciation
+€86,947
Receivables within one year
+€26,578
Smaller working-capital items
-€70
Trade debts
-€38,533
Tax, wage and social debts
+€1,105
Other debts
+€7,874
Investment (derived)
-€375,962
Investment in fixed assets (net)
-€375,962
Financing
-€76,105
Debts after one year
-€27,737
Current portion of long-term debt
+€19,813
Short-term financial debts
-€68,181
Cash 2025
€91,037
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,696,073 | €4,010,360 | +€314,287 | +8.5% |
| Fixed assets | 21/28 | €3,627,579 | €3,916,594 | +€289,015 | +8.0% |
| Tangible fixed assets | 22/27 | €3,627,579 | €2,886,594 | -€740,985 | -20.4% |
| Land and buildings | 22 | €3,621,171 | €2,886,594 | -€734,577 | -20.3% |
| Furniture and vehicles | 24 | €6,408 | €0 | -€6,408 | -100% |
| Financial fixed assets | 28 | - | €1,030,000 | +€1.0m | |
| Current assets | 29/58 | €68,494 | €93,766 | +€25,272 | +36.9% |
| Amounts receivable within one year | 40/41 | €26,578 | €0 | -€26,578 | -100% |
| Other amounts receivable | 41 | €26,578 | €0 | -€26,578 | -100% |
| Cash at bank and in hand | 54/58 | €39,437 | €91,037 | +€51,600 | +131% |
| Deferred charges and accrued income | 490/1 | €2,480 | €2,730 | +€250 | +10.1% |
| Total equity and liabilities | 10/49 | €3,696,073 | €4,010,360 | +€314,287 | +8.5% |
| Equity | 10/15 | €312,398 | €732,164 | +€419,765 | +134% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €293,798 | €713,564 | +€419,765 | +143% |
| Distributable reserves | 133 | €293,798 | €713,564 | +€419,765 | +143% |
| Amounts payable | 17/49 | €3,383,675 | €3,278,196 | -€105,478 | -3.1% |
| Amounts payable after more than one year | 17 | €2,353,800 | €2,326,063 | -€27,737 | -1.2% |
| Financial debts | 170/4 | €2,353,800 | €2,326,063 | -€27,737 | -1.2% |
| Amounts payable within one year | 42/48 | €1,021,502 | €943,580 | -€77,922 | -7.6% |
| Current portion of amounts payable after more than one year | 42 | €114,965 | €134,778 | +€19,813 | +17.2% |
| Financial debts | 43 | €443,181 | €375,000 | -€68,181 | -15.4% |
| Credit institutions | 430/8 | €443,181 | €375,000 | -€68,181 | -15.4% |
| Trade debts | 44 | €38,573 | €41 | -€38,533 | -99.9% |
| Suppliers | 440/4 | €38,573 | €41 | -€38,533 | -99.9% |
| Taxes, remuneration and social security | 45 | €0 | €1,105 | +€1,105 | |
| Taxes | 450/3 | €0 | €1,105 | +€1,105 | |
| Other amounts payable | 47/48 | €424,783 | €432,657 | +€7,874 | +1.9% |
| Accrued charges and deferred income | 492/3 | €8,373 | €8,554 | +€180 | +2.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €104,259 | €86,947 | -€17,312 | -16.6% |
| Other operating charges | 640/8 | €86,019 | €70,652 | -€15,366 | -17.9% |
| Gross operating margin | 9900 | €232,420 | €675,060 | +€442,640 | +190% |
| Operating profit (loss) | 9901 | €42,143 | €517,461 | +€475,318 | +1,128% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €58,507 | €70,090 | +€11,584 | +19.8% |
| Recurring financial charges | 65 | €58,507 | €70,090 | +€11,584 | +19.8% |
| Profit (loss) for the period before taxes | 9903 | -€16,364 | €447,371 | +€463,735 | |
| Income taxes | 67/77 | -€2,170 | €27,605 | +€29,775 | |
| Profit (loss) for the period | 9904 | -€14,194 | €419,765 | +€433,959 | |
| Profit (loss) for the period to be appropriated | 9905 | -€14,194 | €419,765 | +€433,959 |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 6 November 2026 via checked.be.