Trinovation: 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.
Trinovation
Largest movements
- Receivables within one year +€100,241
up €100,241 (+86.9%), from €115,318 to €215,559
of which Trade receivables: +€110,006
- Cash -€54,806
down €54,806 (-30.0%), from €182,808 to €128,002
mainly Contributions, distributions and other (-€170,464) and Receivables within one year (-€100,241)
- Tangible fixed assets -€12,500
down €12,500 (-3.5%), from €359,379 to €346,879
of which Plant, machinery and equipment: -€8,870
- Other debts +€17,439
up €17,439 (+7.1%), from €245,662 to €263,101
- Debts after one year -€14,894
down €14,894 (-5.7%), from €262,133 to €247,239
- Trade debts +€14,877
up €14,877 (+95.9%), from €15,506 to €30,383
- Tax, wage and social debts +€12,068
up €12,068 (+28.3%), from €42,657 to €54,726
of which Taxes: +€12,640
- Gross operating margin -€72,237
down €72,237 (-13.8%), from €524,448 to €452,211
- Taxes -€23,992
down €23,992 (-29.9%), from €80,235 to €56,243
- Staff costs +€17,773
up €17,773 (+10.8%), from €164,206 to €181,979
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 | €670,331 | €700,028 | +€29,697 | +4.4% |
| Fixed assets | 21/28 | €359,379 | €346,879 | -€12,500 | -3.5% |
| Tangible fixed assets | 22/27 | €359,379 | €346,879 | -€12,500 | -3.5% |
| Land and buildings | 22 | €323,085 | €314,646 | -€8,440 | -2.6% |
| Plant, machinery and equipment | 23 | €18,575 | €9,705 | -€8,870 | -47.8% |
| Furniture and vehicles | 24 | €17,718 | €22,528 | +€4,810 | +27.1% |
| Current assets | 29/58 | €310,952 | €353,149 | +€42,196 | +13.6% |
| Amounts receivable within one year | 40/41 | €115,318 | €215,559 | +€100,241 | +86.9% |
| Trade receivables | 40 | €105,554 | €215,559 | +€110,006 | +104% |
| Other amounts receivable | 41 | €9,765 | - | -€9,765 | |
| Cash at bank and in hand | 54/58 | €182,808 | €128,002 | -€54,806 | -30.0% |
| Deferred charges and accrued income | 490/1 | €12,826 | €9,587 | -€3,239 | -25.3% |
| Total equity and liabilities | 10/49 | €670,331 | €700,028 | +€29,697 | +4.4% |
| Equity | 10/15 | €89,685 | €89,685 | = | 0.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €71,085 | €71,085 | = | 0.0% |
| Distributable reserves | 133 | €71,085 | €71,085 | = | 0.0% |
| Amounts payable | 17/49 | €580,646 | €610,343 | +€29,697 | +5.1% |
| Amounts payable after more than one year | 17 | €262,133 | €247,239 | -€14,894 | -5.7% |
| Financial debts | 170/4 | €262,133 | €247,239 | -€14,894 | -5.7% |
| Amounts payable within one year | 42/48 | €318,513 | €363,104 | +€44,591 | +14.0% |
| Current portion of amounts payable after more than one year | 42 | €14,688 | €14,894 | +€207 | +1.4% |
| Trade debts | 44 | €15,506 | €30,383 | +€14,877 | +95.9% |
| Suppliers | 440/4 | €15,506 | €30,383 | +€14,877 | +95.9% |
| Taxes, remuneration and social security | 45 | €42,657 | €54,726 | +€12,068 | +28.3% |
| Taxes | 450/3 | €20,185 | €32,825 | +€12,640 | +62.6% |
| Remuneration and social security | 454/9 | €22,472 | €21,901 | -€571 | -2.5% |
| Other amounts payable | 47/48 | €245,662 | €263,101 | +€17,439 | +7.1% |
| Non-recurring operating income | 76A | €4,810 | €1,181 | -€3,629 | -75.4% |
| Remuneration, social security and pensions | 62 | €164,206 | €181,979 | +€17,773 | +10.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,896 | €27,669 | -€1,228 | -4.2% |
| Other operating charges | 640/8 | €672 | €4,956 | +€4,284 | +638% |
| Non-recurring operating charges | 66A | €38 | - | -€38 | |
| Gross operating margin | 9900 | €524,448 | €452,211 | -€72,237 | -13.8% |
| Operating profit (loss) | 9901 | €330,636 | €237,608 | -€93,028 | -28.1% |
| Financial income | 75/76B | €0 | €2 | +€2 | +1,678% |
| Recurring financial income | 75 | €0 | €2 | +€2 | +1,678% |
| Financial charges | 65/66B | €10,886 | €10,903 | +€17 | +0.2% |
| Recurring financial charges | 65 | €10,886 | €10,903 | +€17 | +0.2% |
| Profit (loss) for the period before taxes | 9903 | €319,750 | €226,707 | -€93,043 | -29.1% |
| Income taxes | 67/77 | €80,235 | €56,243 | -€23,992 | -29.9% |
| Profit (loss) for the period | 9904 | €239,515 | €170,464 | -€69,051 | -28.8% |
| Profit (loss) for the period to be appropriated | 9905 | €239,515 | €170,464 | -€69,051 | -28.8% |
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 14 October 2026 via checked.be.