TRIOVAL: 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.
TRIOVAL
Largest movements
- Cash -€55,747
down €55,747 (-70.1%), from €79,527 to €23,779
mainly Contributions, distributions and other (-€69,182) and Other debts (-€17,777)
- Tangible fixed assets -€7,014
down €7,014 (-26.3%), from €26,632 to €19,619
of which Furniture and vehicles: -€9,523
- Receivables within one year +€6,311
up €6,311 (+182%), from €3,464 to €9,774
of which Other amounts receivable: +€7,092
- Deferred charges and accrued income +€1,479
up €1,479 (+286%), from €516 to €1,995
- Reserves -€32,182
down €32,182 (-95.7%), from €33,622 to €1,440
- Other debts -€17,777
down €17,777 (-39.3%), from €45,179 to €27,401
- Tax, wage and social debts -€7,187
down €7,187 (-56.4%), from €12,739 to €5,552
- Trade debts +€2,099
new in 2025: €2,099
- Financial charges +€34,730
up €34,730 (+79.7%), from €43,563 to €78,293
- Gross operating margin +€15,237
up €15,237 (+12.5%), from €121,836 to €137,073
- Taxes -€5,436
down €5,436 (-31.3%), from €17,344 to €11,908
- Depreciation +€3,493
up €3,493 (+70.0%), from €4,987 to €8,480
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 | €110,139 | €55,167 | -€54,972 | -49.9% |
| Fixed assets | 21/28 | €26,632 | €19,619 | -€7,014 | -26.3% |
| Tangible fixed assets | 22/27 | €26,632 | €19,619 | -€7,014 | -26.3% |
| Land and buildings | 22 | €1,598 | €4,544 | +€2,946 | +184% |
| Plant, machinery and equipment | 23 | €4,182 | €3,886 | -€296 | -7.1% |
| Furniture and vehicles | 24 | €19,844 | €10,320 | -€9,523 | -48.0% |
| Other tangible fixed assets | 26 | €1,008 | €869 | -€140 | -13.9% |
| Current assets | 29/58 | €83,506 | €35,549 | -€47,958 | -57.4% |
| Amounts receivable within one year | 40/41 | €3,464 | €9,774 | +€6,311 | +182% |
| Trade receivables | 40 | €2,308 | €1,526 | -€781 | -33.9% |
| Other amounts receivable | 41 | €1,156 | €8,248 | +€7,092 | +614% |
| Cash at bank and in hand | 54/58 | €79,527 | €23,779 | -€55,747 | -70.1% |
| Deferred charges and accrued income | 490/1 | €516 | €1,995 | +€1,479 | +286% |
| Total equity and liabilities | 10/49 | €110,139 | €55,167 | -€54,972 | -49.9% |
| Equity | 10/15 | €52,222 | €20,115 | -€32,106 | -61.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €33,622 | €1,440 | -€32,182 | -95.7% |
| Distributable reserves | 133 | €33,622 | €1,440 | -€32,182 | -95.7% |
| Profit (loss) carried forward | 14 | - | €76 | +€76 | |
| Amounts payable | 17/49 | €57,917 | €35,052 | -€22,865 | -39.5% |
| Amounts payable within one year | 42/48 | €57,917 | €35,052 | -€22,865 | -39.5% |
| Trade debts | 44 | - | €2,099 | +€2,099 | |
| Suppliers | 440/4 | - | €2,099 | +€2,099 | |
| Taxes, remuneration and social security | 45 | €12,739 | €5,552 | -€7,187 | -56.4% |
| Taxes | 450/3 | €12,739 | €5,552 | -€7,187 | -56.4% |
| Other amounts payable | 47/48 | €45,179 | €27,401 | -€17,777 | -39.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,987 | €8,480 | +€3,493 | +70.0% |
| Other operating charges | 640/8 | €764 | €1,391 | +€627 | +82.0% |
| Gross operating margin | 9900 | €121,836 | €137,073 | +€15,237 | +12.5% |
| Operating profit (loss) | 9901 | €116,085 | €127,203 | +€11,118 | +9.6% |
| Financial income | 75/76B | €50 | €74 | +€24 | +48.7% |
| Recurring financial income | 75 | €50 | €74 | +€24 | +48.7% |
| Financial charges | 65/66B | €43,563 | €78,293 | +€34,730 | +79.7% |
| Recurring financial charges | 65 | €43,563 | €78,293 | +€34,730 | +79.7% |
| Profit (loss) for the period before taxes | 9903 | €72,571 | €48,983 | -€23,588 | -32.5% |
| Income taxes | 67/77 | €17,344 | €11,908 | -€5,436 | -31.3% |
| Profit (loss) for the period | 9904 | €55,227 | €37,076 | -€18,152 | -32.9% |
| Profit (loss) for the period to be appropriated | 9905 | €55,227 | €37,076 | -€18,152 | -32.9% |
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.