TRK INVEST: 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.
TRK INVEST
Largest movements
- Tangible fixed assets +€273,727
up €273,727 (+20.5%), from €1.3m to €1.6m
of which Land and buildings: +€240,818
- Cash -€66,033
down €66,033 (-62.6%), from €105,500 to €39,467
mainly Investment in fixed assets (net) (-€339,833) and Debts after one year (-€103,914)
- Receivables within one year +€25,598
up €25,598 (+134%), from €19,095 to €44,693
of which Other amounts receivable: +€24,878
- Other debts +€297,077
up €297,077 (+401%), from €74,062 to €371,139
- Debts after one year -€103,914
down €103,914 (-16.0%), from €651,279 to €547,365
- Current portion of long-term debt +€36,217
up €36,217 (+38.7%), from €93,671 to €129,888
- Profit (loss) carried forward +€31,874
up €31,874 (+8.5%), from €373,535 to €405,409
- Taxes -€127,058
down €127,058, from €91,429 to -€35,629
- Gross operating margin -€95,585
down €95,585 (-58.0%), from €164,693 to €69,108
- Depreciation +€10,474
up €10,474 (+18.8%), from €55,632 to €66,106
- Other operating charges -€10,242
down €10,242 (-94.5%), from €10,839 to €597
- Financial charges -€3,578
down €3,578 (-10.9%), from €32,718 to €29,140
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 | €1,462,957 | €1,703,605 | +€240,648 | +16.4% |
| Fixed assets | 21/28 | €1,335,049 | €1,608,776 | +€273,727 | +20.5% |
| Tangible fixed assets | 22/27 | €1,335,049 | €1,608,776 | +€273,727 | +20.5% |
| Land and buildings | 22 | €1,322,560 | €1,563,378 | +€240,818 | +18.2% |
| Furniture and vehicles | 24 | €12,489 | €45,398 | +€32,909 | +264% |
| Current assets | 29/58 | €127,908 | €94,829 | -€33,079 | -25.9% |
| Amounts receivable within one year | 40/41 | €19,095 | €44,693 | +€25,598 | +134% |
| Trade receivables | 40 | €19,095 | €19,815 | +€720 | +3.8% |
| Other amounts receivable | 41 | - | €24,878 | +€24,878 | |
| Cash at bank and in hand | 54/58 | €105,500 | €39,467 | -€66,033 | -62.6% |
| Deferred charges and accrued income | 490/1 | €3,313 | €10,669 | +€7,356 | +222% |
| Total equity and liabilities | 10/49 | €1,462,957 | €1,703,605 | +€240,648 | +16.4% |
| Equity | 10/15 | €566,554 | €583,489 | +€16,935 | +3.0% |
| Reserves | 13 | €193,019 | €178,080 | -€14,939 | -7.7% |
| Tax-exempt reserves | 132 | €193,019 | €178,080 | -€14,939 | -7.7% |
| Profit (loss) carried forward | 14 | €373,535 | €405,409 | +€31,874 | +8.5% |
| Provisions and deferred taxes | 16 | €53,650 | €45,610 | -€8,040 | -15.0% |
| Deferred taxes | 168 | €53,650 | €45,610 | -€8,040 | -15.0% |
| Amounts payable | 17/49 | €842,753 | €1,074,506 | +€231,753 | +27.5% |
| Amounts payable after more than one year | 17 | €651,279 | €547,365 | -€103,914 | -16.0% |
| Financial debts | 170/4 | €651,279 | €547,365 | -€103,914 | -16.0% |
| Amounts payable within one year | 42/48 | €191,394 | €524,343 | +€332,949 | +174% |
| Current portion of amounts payable after more than one year | 42 | €93,671 | €129,888 | +€36,217 | +38.7% |
| Trade debts | 44 | €13,480 | €19,403 | +€5,923 | +43.9% |
| Suppliers | 440/4 | €13,480 | €19,403 | +€5,923 | +43.9% |
| Taxes, remuneration and social security | 45 | €10,181 | €3,913 | -€6,268 | -61.6% |
| Taxes | 450/3 | €6,268 | - | -€6,268 | |
| Remuneration and social security | 454/9 | €3,913 | €3,913 | = | 0.0% |
| Other amounts payable | 47/48 | €74,062 | €371,139 | +€297,077 | +401% |
| Accrued charges and deferred income | 492/3 | €80 | €2,798 | +€2,718 | +3,398% |
| Non-recurring operating income | 76A | €16,713 | - | -€16,713 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €55,632 | €66,106 | +€10,474 | +18.8% |
| Other operating charges | 640/8 | €10,839 | €597 | -€10,242 | -94.5% |
| Gross operating margin | 9900 | €164,693 | €69,108 | -€95,585 | -58.0% |
| Operating profit (loss) | 9901 | €98,222 | €2,405 | -€95,817 | -97.6% |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €32,718 | €29,140 | -€3,578 | -10.9% |
| Recurring financial charges | 65 | €32,718 | €29,140 | -€3,578 | -10.9% |
| Profit (loss) for the period before taxes | 9903 | €65,504 | -€26,734 | -€92,238 | |
| Transfer from deferred taxes | 780 | €2,063 | €8,040 | +€5,977 | +290% |
| Income taxes | 67/77 | €91,429 | -€35,629 | -€127,058 | |
| Profit (loss) for the period | 9904 | -€23,862 | €16,935 | +€40,797 | |
| Transfer from tax-exempt reserves | 789 | €6,071 | €14,939 | +€8,868 | +146% |
| Profit (loss) for the period to be appropriated | 9905 | -€17,791 | €31,874 | +€49,665 |
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 28 October 2026 via checked.be.