TRIPPEL TREE: 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.
TRIPPEL TREE
Largest movements
- Deferred charges and accrued income -€151,869
down €151,869 (-56.1%), from €270,602 to €118,733
- Cash -€148,383
down €148,383 (-62.1%), from €238,937 to €90,554
mainly Debts after one year (-€217,070) and Investment in fixed assets (net) (-€92,000)
- Tangible fixed assets +€72,982
up €72,982 (+250%), from €29,158 to €102,140
of which Plant, machinery and equipment: +€76,487
- Receivables within one year -€51,612
down €51,612 (-10.5%), from €492,377 to €440,765
of which Trade receivables: -€49,505
- Debts after one year -€217,070
down €217,070 (-14.9%), from €1.5m to €1.2m
- Accrued charges and deferred income -€68,242
no longer reported in 2025 (was €68,242)
- Gross operating margin -€147,429
down €147,429 (-31.7%), from €465,231 to €317,802
- Taxes -€67,238
down €67,238 (-89.1%), from €75,481 to €8,243
- Staff costs +€62,213
up €62,213 (+32.2%), from €193,134 to €255,347
- Financial charges -€9,755
down €9,755 (-49.1%), from €19,881 to €10,126
- Depreciation -€7,934
down €7,934 (-29.4%), from €26,952 to €19,018
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 | €4,082,319 | €3,803,436 | -€278,883 | -6.8% |
| Fixed assets | 21/28 | €3,080,403 | €3,153,384 | +€72,982 | +2.4% |
| Tangible fixed assets | 22/27 | €29,158 | €102,140 | +€72,982 | +250% |
| Land and buildings | 22 | €3,185 | - | -€3,185 | |
| Plant, machinery and equipment | 23 | €25,074 | €101,561 | +€76,487 | +305% |
| Furniture and vehicles | 24 | €899 | €579 | -€320 | -35.6% |
| Financial fixed assets | 28 | €3,051,245 | €3,051,245 | = | 0.0% |
| Current assets | 29/58 | €1,001,917 | €650,052 | -€351,865 | -35.1% |
| Amounts receivable within one year | 40/41 | €492,377 | €440,765 | -€51,612 | -10.5% |
| Trade receivables | 40 | €457,888 | €408,383 | -€49,505 | -10.8% |
| Other amounts receivable | 41 | €34,489 | €32,382 | -€2,107 | -6.1% |
| Cash at bank and in hand | 54/58 | €238,937 | €90,554 | -€148,383 | -62.1% |
| Deferred charges and accrued income | 490/1 | €270,602 | €118,733 | -€151,869 | -56.1% |
| Total equity and liabilities | 10/49 | €4,082,319 | €3,803,436 | -€278,883 | -6.8% |
| Equity | 10/15 | €932,591 | €954,446 | +€21,855 | +2.3% |
| Contributions | 10/11 | €300,000 | €300,000 | = | 0.0% |
| Capital | 10 | €300,000 | €300,000 | = | 0.0% |
| Issued capital | 100 | €300,000 | €300,000 | = | 0.0% |
| Reserves | 13 | €632,591 | €654,446 | +€21,855 | +3.5% |
| Non-distributable reserves | 130/1 | €33,938 | €33,938 | = | 0.0% |
| Legal reserve | 130 | €33,938 | €33,938 | = | 0.0% |
| Distributable reserves | 133 | €598,653 | €620,508 | +€21,855 | +3.7% |
| Amounts payable | 17/49 | €3,149,728 | €2,848,990 | -€300,738 | -9.5% |
| Amounts payable after more than one year | 17 | €1,455,410 | €1,238,340 | -€217,070 | -14.9% |
| Financial debts | 170/4 | €1,455,410 | €1,238,340 | -€217,070 | -14.9% |
| Amounts payable within one year | 42/48 | €1,626,076 | €1,610,650 | -€15,426 | -0.9% |
| Financial debts | 43 | €300,000 | €300,000 | = | 0.0% |
| Other loans | 439 | €300,000 | €300,000 | = | 0.0% |
| Trade debts | 44 | €1,014,108 | €996,949 | -€17,159 | -1.7% |
| Suppliers | 440/4 | €1,014,108 | €996,949 | -€17,159 | -1.7% |
| Taxes, remuneration and social security | 45 | €78,339 | €80,072 | +€1,733 | +2.2% |
| Taxes | 450/3 | €78,281 | €79,999 | +€1,719 | +2.2% |
| Remuneration and social security | 454/9 | €58 | €72 | +€14 | +23.8% |
| Other amounts payable | 47/48 | €233,629 | €233,629 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €68,242 | - | -€68,242 | |
| Remuneration, social security and pensions | 62 | €193,134 | €255,347 | +€62,213 | +32.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,952 | €19,018 | -€7,934 | -29.4% |
| Other operating charges | 640/8 | €2,112 | €3,213 | +€1,101 | +52.1% |
| Non-recurring operating charges | 66A | €200 | - | -€200 | |
| Gross operating margin | 9900 | €465,231 | €317,802 | -€147,429 | -31.7% |
| Operating profit (loss) | 9901 | €242,833 | €40,224 | -€202,609 | -83.4% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €19,881 | €10,126 | -€9,755 | -49.1% |
| Recurring financial charges | 65 | €19,881 | €10,126 | -€9,755 | -49.1% |
| Profit (loss) for the period before taxes | 9903 | €222,952 | €30,098 | -€192,854 | -86.5% |
| Income taxes | 67/77 | €75,481 | €8,243 | -€67,238 | -89.1% |
| Profit (loss) for the period | 9904 | €147,471 | €21,855 | -€125,616 | -85.2% |
| Profit (loss) for the period to be appropriated | 9905 | €147,471 | €21,855 | -€125,616 | -85.2% |
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 20 October 2026 via checked.be.