TRL13: 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.
TRL13
Largest movements
- Stocks and contracts +€11,458
up €11,458 (+59.4%), from €19,296 to €30,753
- Deferred charges and accrued income -€5,694
down €5,694 (-19.1%), from €29,800 to €24,106
- Receivables within one year +€3,589
up €3,589 (+75.0%), from €4,783 to €8,372
of which Trade receivables: +€5,631
- Intangible fixed assets -€2,500
down €2,500 (-36.4%), from €6,875 to €4,375
- Cash -€2,155
down €2,155 (-2.8%), from €78,268 to €76,113
mainly Trade debts (-€18,506) and Investment in fixed assets (net) (-€16,723)
- Trade debts -€18,506
down €18,506 (-36.9%), from €50,167 to €31,661
- Tax, wage and social debts +€14,522
up €14,522 (+29.4%), from €49,395 to €63,917
of which Remuneration and social security: +€20,807
- Profit (loss) carried forward +€12,612
up €12,612 (+84.4%), from €14,937 to €27,549
- Other debts -€2,019
down €2,019 (-39.8%), from €5,079 to €3,059
- Depreciation -€6,667
down €6,667 (-27.8%), from €23,979 to €17,311
- Gross operating margin -€5,301
down €5,301 (-1.3%), from €411,633 to €406,332
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 | €162,229 | €168,837 | +€6,608 | +4.1% |
| Fixed assets | 21/28 | €30,082 | €29,493 | -€589 | -2.0% |
| Intangible fixed assets | 21 | €6,875 | €4,375 | -€2,500 | -36.4% |
| Tangible fixed assets | 22/27 | €23,207 | €25,118 | +€1,911 | +8.2% |
| Furniture and vehicles | 24 | €17,805 | €14,091 | -€3,714 | -20.9% |
| Other tangible fixed assets | 26 | €5,402 | €11,028 | +€5,626 | +104% |
| Current assets | 29/58 | €132,147 | €139,344 | +€7,197 | +5.4% |
| Stocks and contracts in progress | 3 | €19,296 | €30,753 | +€11,458 | +59.4% |
| Stocks | 30/36 | €19,296 | €30,753 | +€11,458 | +59.4% |
| Amounts receivable within one year | 40/41 | €4,783 | €8,372 | +€3,589 | +75.0% |
| Trade receivables | 40 | €62 | €5,694 | +€5,631 | +9,070% |
| Other amounts receivable | 41 | €4,721 | €2,678 | -€2,043 | -43.3% |
| Cash at bank and in hand | 54/58 | €78,268 | €76,113 | -€2,155 | -2.8% |
| Deferred charges and accrued income | 490/1 | €29,800 | €24,106 | -€5,694 | -19.1% |
| Total equity and liabilities | 10/49 | €162,229 | €168,837 | +€6,608 | +4.1% |
| Equity | 10/15 | €57,589 | €70,200 | +€12,612 | +21.9% |
| Contributions | 10/11 | €5,129 | €5,129 | = | 0.0% |
| Reserves | 13 | €37,523 | €37,523 | = | 0.0% |
| Distributable reserves | 133 | €37,523 | €37,523 | = | 0.0% |
| Profit (loss) carried forward | 14 | €14,937 | €27,549 | +€12,612 | +84.4% |
| Amounts payable | 17/49 | €104,640 | €98,637 | -€6,003 | -5.7% |
| Amounts payable within one year | 42/48 | €104,640 | €98,637 | -€6,003 | -5.7% |
| Trade debts | 44 | €50,167 | €31,661 | -€18,506 | -36.9% |
| Suppliers | 440/4 | €50,167 | €31,661 | -€18,506 | -36.9% |
| Taxes, remuneration and social security | 45 | €49,395 | €63,917 | +€14,522 | +29.4% |
| Taxes | 450/3 | €30,990 | €24,704 | -€6,285 | -20.3% |
| Remuneration and social security | 454/9 | €18,405 | €39,212 | +€20,807 | +113% |
| Other amounts payable | 47/48 | €5,079 | €3,059 | -€2,019 | -39.8% |
| Remuneration, social security and pensions | 62 | €368,679 | €368,351 | -€328 | -0.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,979 | €17,311 | -€6,667 | -27.8% |
| Other operating charges | 640/8 | €1,785 | €1,604 | -€181 | -10.2% |
| Gross operating margin | 9900 | €411,633 | €406,332 | -€5,301 | -1.3% |
| Operating profit (loss) | 9901 | €17,190 | €19,066 | +€1,876 | +10.9% |
| Financial income | 75/76B | €58 | €43 | -€15 | -25.8% |
| Recurring financial income | 75 | €58 | €43 | -€15 | -25.8% |
| Financial charges | 65/66B | €2,997 | €6,497 | +€3,500 | +117% |
| Recurring financial charges | 65 | €2,997 | €6,497 | +€3,500 | +117% |
| Profit (loss) for the period before taxes | 9903 | €14,250 | €12,612 | -€1,639 | -11.5% |
| Income taxes | 67/77 | €195 | - | -€195 | |
| Profit (loss) for the period | 9904 | €14,056 | €12,612 | -€1,444 | -10.3% |
| Profit (loss) for the period to be appropriated | 9905 | €14,056 | €12,612 | -€1,444 | -10.3% |
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 15 October 2026 via checked.be.