TRO Car Rental: 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.
TRO Car Rental
Largest movements
- Receivables within one year -€152,991
down €152,991 (-39.5%), from €387,383 to €234,392
of which Other amounts receivable: -€152,414
- Tangible fixed assets +€34,621
up €34,621 (+124%), from €27,968 to €62,590
- Other debts -€131,506
down €131,506 (-66.5%), from €197,647 to €66,141
- Current portion of long-term debt +€27,312
up €27,312 (+1,596%), from €1,711 to €29,023
- Tax, wage and social debts -€10,662
down €10,662 (-43.4%), from €24,573 to €13,911
- Gross operating margin -€19,643
down €19,643 (-15.9%), from €123,210 to €103,567
- Depreciation -€10,310
down €10,310 (-22.6%), from €45,640 to €35,330
- Taxes -€3,314
down €3,314 (-19.3%), from €17,191 to €13,877
- Other operating charges +€2,044
up €2,044 (+10.7%), from €19,080 to €21,123
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 | €424,736 | €304,799 | -€119,937 | -28.2% |
| Fixed assets | 21/28 | €28,968 | €63,590 | +€34,621 | +120% |
| Tangible fixed assets | 22/27 | €27,968 | €62,590 | +€34,621 | +124% |
| Furniture and vehicles | 24 | €27,968 | €62,590 | +€34,621 | +124% |
| Financial fixed assets | 28 | €1,000 | €1,000 | = | 0.0% |
| Current assets | 29/58 | €395,767 | €241,209 | -€154,559 | -39.1% |
| Amounts receivable within one year | 40/41 | €387,383 | €234,392 | -€152,991 | -39.5% |
| Trade receivables | 40 | €196,495 | €195,918 | -€577 | -0.3% |
| Other amounts receivable | 41 | €190,888 | €38,474 | -€152,414 | -79.8% |
| Cash at bank and in hand | 54/58 | €4,064 | €2,264 | -€1,800 | -44.3% |
| Deferred charges and accrued income | 490/1 | €4,321 | €4,553 | +€232 | +5.4% |
| Total equity and liabilities | 10/49 | €424,736 | €304,799 | -€119,937 | -28.2% |
| Equity | 10/15 | €31,306 | €28,456 | -€2,850 | -9.1% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €14,360 | €14,360 | = | 0.0% |
| Distributable reserves | 133 | €14,360 | €14,360 | = | 0.0% |
| Profit (loss) carried forward | 14 | €4,546 | €1,696 | -€2,850 | -62.7% |
| Amounts payable | 17/49 | €393,430 | €276,343 | -€117,087 | -29.8% |
| Amounts payable within one year | 42/48 | €393,430 | €276,343 | -€117,087 | -29.8% |
| Current portion of amounts payable after more than one year | 42 | €1,711 | €29,023 | +€27,312 | +1,596% |
| Trade debts | 44 | €169,499 | €167,268 | -€2,231 | -1.3% |
| Suppliers | 440/4 | €169,499 | €167,268 | -€2,231 | -1.3% |
| Taxes, remuneration and social security | 45 | €24,573 | €13,911 | -€10,662 | -43.4% |
| Taxes | 450/3 | €24,573 | €13,911 | -€10,662 | -43.4% |
| Other amounts payable | 47/48 | €197,647 | €66,141 | -€131,506 | -66.5% |
| Non-recurring operating income | 76A | €474 | €987 | +€513 | +108% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,640 | €35,330 | -€10,310 | -22.6% |
| Other operating charges | 640/8 | €19,080 | €21,123 | +€2,044 | +10.7% |
| Non-recurring operating charges | 66A | - | €1,313 | +€1,313 | |
| Gross operating margin | 9900 | €123,210 | €103,567 | -€19,643 | -15.9% |
| Operating profit (loss) | 9901 | €58,490 | €45,800 | -€12,690 | -21.7% |
| Financial income | 75/76B | €2,158 | €2,919 | +€761 | +35.3% |
| Recurring financial income | 75 | €2,158 | €2,919 | +€761 | +35.3% |
| Financial charges | 65/66B | €2,418 | €2,692 | +€274 | +11.3% |
| Recurring financial charges | 65 | €2,418 | €2,692 | +€274 | +11.3% |
| Profit (loss) for the period before taxes | 9903 | €58,230 | €46,028 | -€12,202 | -21.0% |
| Income taxes | 67/77 | €17,191 | €13,877 | -€3,314 | -19.3% |
| Profit (loss) for the period | 9904 | €41,039 | €32,150 | -€8,889 | -21.7% |
| Profit (loss) for the period to be appropriated | 9905 | €41,039 | €32,150 | -€8,889 | -21.7% |
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 18 October 2026 via checked.be.