TRLPROJECTS: 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.
TRLPROJECTS
Largest movements
- Cash -€220,237
down €220,237 (-85.0%), from €259,163 to €38,926
mainly Contributions, distributions and other (-€287,516) and Short-term financial debts (-€15,741)
- Tangible fixed assets +€10,562
up €10,562 (+388%), from €2,724 to €13,286
- Receivables within one year -€4,153
down €4,153 (-13.1%), from €31,680 to €27,527
of which Other amounts receivable: -€6,403
- Reserves -€238,074
no longer reported in 2025 (was €238,074)
- Other debts +€51,368
new in 2025: €51,368
- Short-term financial debts -€15,741
down €15,741 (-66.0%), from €23,863 to €8,122
- Tax, wage and social debts -€10,707
down €10,707 (-42.0%), from €25,519 to €14,811
- Gross operating margin -€82,598
down €82,598 (-53.5%), from €154,283 to €71,684
- Taxes -€15,086
down €15,086 (-45.4%), from €33,235 to €18,150
- Financial charges -€4,246
down €4,246 (-88.7%), from €4,786 to €540
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 | €293,567 | €82,422 | -€211,145 | -71.9% |
| Fixed assets | 21/28 | €2,724 | €13,286 | +€10,562 | +388% |
| Tangible fixed assets | 22/27 | €2,724 | €13,286 | +€10,562 | +388% |
| Furniture and vehicles | 24 | €2,724 | €13,286 | +€10,562 | +388% |
| Current assets | 29/58 | €290,843 | €69,136 | -€221,707 | -76.2% |
| Amounts receivable within one year | 40/41 | €31,680 | €27,527 | -€4,153 | -13.1% |
| Trade receivables | 40 | €9,964 | €12,215 | +€2,251 | +22.6% |
| Other amounts receivable | 41 | €21,715 | €15,312 | -€6,403 | -29.5% |
| Cash at bank and in hand | 54/58 | €259,163 | €38,926 | -€220,237 | -85.0% |
| Deferred charges and accrued income | 490/1 | - | €2,683 | +€2,683 | |
| Total equity and liabilities | 10/49 | €293,567 | €82,422 | -€211,145 | -71.9% |
| Equity | 10/15 | €243,074 | €5,000 | -€238,074 | -97.9% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €238,074 | - | -€238,074 | |
| Distributable reserves | 133 | €238,074 | - | -€238,074 | |
| Amounts payable | 17/49 | €50,492 | €77,422 | +€26,930 | +53.3% |
| Amounts payable within one year | 42/48 | €50,187 | €77,422 | +€27,236 | +54.3% |
| Financial debts | 43 | €23,863 | €8,122 | -€15,741 | -66.0% |
| Credit institutions | 430/8 | €23,863 | €8,122 | -€15,741 | -66.0% |
| Trade debts | 44 | €805 | €3,121 | +€2,315 | +287% |
| Suppliers | 440/4 | €805 | €3,121 | +€2,315 | +287% |
| Taxes, remuneration and social security | 45 | €25,519 | €14,811 | -€10,707 | -42.0% |
| Taxes | 450/3 | €25,519 | €14,811 | -€10,707 | -42.0% |
| Other amounts payable | 47/48 | - | €51,368 | +€51,368 | |
| Accrued charges and deferred income | 492/3 | €306 | - | -€306 | |
| Non-recurring operating income | 76A | €73,614 | - | -€73,614 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €980 | €2,505 | +€1,525 | +156% |
| Other operating charges | 640/8 | €1,593 | €1,393 | -€201 | -12.6% |
| Gross operating margin | 9900 | €154,283 | €71,684 | -€82,598 | -53.5% |
| Operating profit (loss) | 9901 | €151,710 | €67,786 | -€83,923 | -55.3% |
| Financial income | 75/76B | €1,129 | €345 | -€784 | -69.5% |
| Recurring financial income | 75 | €1,129 | €345 | -€784 | -69.5% |
| Financial charges | 65/66B | €4,786 | €540 | -€4,246 | -88.7% |
| Recurring financial charges | 65 | €4,786 | €540 | -€4,246 | -88.7% |
| Profit (loss) for the period before taxes | 9903 | €148,052 | €67,591 | -€80,461 | -54.3% |
| Income taxes | 67/77 | €33,235 | €18,150 | -€15,086 | -45.4% |
| Profit (loss) for the period | 9904 | €114,817 | €49,441 | -€65,376 | -56.9% |
| Profit (loss) for the period to be appropriated | 9905 | €114,817 | €49,441 | -€65,376 | -56.9% |
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 13 October 2026 via checked.be.