TRM9: what changed
Two fiscal 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.
TRM9
Largest movements
- Receivables after one year +€40,000
new in 2025: €40,000
- Tangible fixed assets -€17,646
down €17,646 (-29.6%), from €59,600 to €41,953
of which Furniture and vehicles: -€20,033
- Cash +€10,919
up €10,919 (+53.5%), from €20,407 to €31,326
mainly Depreciation (+€20,833) and Net result for the year (+€11,513)
- Receivables within one year -€6,533
down €6,533 (-36.4%), from €17,956 to €11,422
- Stocks and contracts -€6,040
down €6,040 (-9.5%), from €63,590 to €57,550
- Profit (loss) carried forward +€11,513
up €11,513 (+148.1%), from €7,772 to €19,285
- Tax, wage and social debts +€9,798
up €9,798 (+60.4%), from €16,224 to €26,022
- Trade debts +€4,311
up €4,311 (+3.4%), from €128,009 to €132,319
- Gross operating margin +€13,716
up €13,716 (+53.2%), from €25,769 to €39,485
- Depreciation +€11,093
up €11,093 (+113.9%), from €9,740 to €20,833
- Other operating charges -€2,717
down €2,717 (-52.8%), from €5,145 to €2,429
- Taxes +€1,582
up €1,582 (+51.6%), from €3,067 to €4,649
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.
Cash bridge derived
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 | €161,553 | €187,257 | +€25,704 | +15.9% |
| Fixed assets | 21/28 | €59,600 | €41,953 | -€17,646 | -29.6% |
| Tangible fixed assets | 22/27 | €59,600 | €41,953 | -€17,646 | -29.6% |
| Plant, machinery and equipment | 23 | €1,202 | €788 | -€413 | -34.4% |
| Furniture and vehicles | 24 | €57,995 | €37,962 | -€20,033 | -34.5% |
| Other tangible fixed assets | 26 | €403 | €3,203 | +€2,800 | +694.5% |
| Current assets | 29/58 | €101,953 | €145,304 | +€43,351 | +42.5% |
| Amounts receivable after more than one year | 29 | - | €40,000 | +€40,000 | |
| Other amounts receivable | 291 | - | €40,000 | +€40,000 | |
| Stocks and contracts in progress | 3 | €63,590 | €57,550 | -€6,040 | -9.5% |
| Stocks | 30/36 | €63,590 | €57,550 | -€6,040 | -9.5% |
| Amounts receivable within one year | 40/41 | €17,956 | €11,422 | -€6,533 | -36.4% |
| Trade receivables | 40 | €17,956 | €11,422 | -€6,533 | -36.4% |
| Cash at bank and in hand | 54/58 | €20,407 | €31,326 | +€10,919 | +53.5% |
| Deferred charges and accrued income | 490/1 | - | €5,005 | +€5,005 | |
| Total equity and liabilities | 10/49 | €161,553 | €187,257 | +€25,704 | +15.9% |
| Equity | 10/15 | €12,772 | €24,285 | +€11,513 | +90.1% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Outside capital | 11 | €5,000 | €5,000 | = | 0.0% |
| Other | 1109/19 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €7,772 | €19,285 | +€11,513 | +148.1% |
| Amounts payable | 17/49 | €148,781 | €162,972 | +€14,191 | +9.5% |
| Amounts payable within one year | 42/48 | €148,636 | €162,972 | +€14,336 | +9.6% |
| Trade debts | 44 | €128,009 | €132,319 | +€4,311 | +3.4% |
| Suppliers | 440/4 | €128,009 | €132,319 | +€4,311 | +3.4% |
| Taxes, remuneration and social security | 45 | €16,224 | €26,022 | +€9,798 | +60.4% |
| Taxes | 450/3 | €16,224 | €26,022 | +€9,798 | +60.4% |
| Other amounts payable | 47/48 | €4,403 | €4,630 | +€227 | +5.2% |
| Accrued charges and deferred income | 492/3 | €145 | - | -€145 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,740 | €20,833 | +€11,093 | +113.9% |
| Other operating charges | 640/8 | €5,145 | €2,429 | -€2,717 | -52.8% |
| Gross operating margin | 9900 | €25,769 | €39,485 | +€13,716 | +53.2% |
| Operating profit (loss) | 9901 | €10,884 | €16,223 | +€5,340 | +49.1% |
| Financial income | 75/76B | - | €106 | +€106 | |
| Recurring financial income | 75 | - | €106 | +€106 | |
| Financial charges | 65/66B | €44 | €167 | +€123 | +277.0% |
| Recurring financial charges | 65 | €44 | €167 | +€123 | +277.0% |
| Profit (loss) for the period before taxes | 9903 | €10,839 | €16,163 | +€5,323 | +49.1% |
| Income taxes | 67/77 | €3,067 | €4,649 | +€1,582 | +51.6% |
| Profit (loss) for the period | 9904 | €7,772 | €11,513 | +€3,741 | +48.1% |
| Profit (loss) for the period to be appropriated | 9905 | €7,772 | €11,513 | +€3,741 | +48.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.