TRO DO WAY: 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.
TRO DO WAY
Largest movements
- Tangible fixed assets +€43,863
up €43,863 (+11.6%), from €379,469 to €423,332
of which Plant, machinery and equipment: +€47,370
- Cash +€29,449
up €29,449 (+394.8%), from €7,459 to €36,909
mainly Advances received (+€27,113) and Depreciation (+€25,427)
- Advances received +€27,113
new in 2025: €27,113
- Other debts +€24,423
up €24,423 (+30.1%), from €81,218 to €105,640
- Trade debts +€18,268
up €18,268 (+343.0%), from €5,326 to €23,594
- Debts after one year -€13,218
down €13,218 (-6.9%), from €191,811 to €178,593
- Reserves +€11,711
up €11,711 (+21.0%), from €55,728 to €67,439
of which Distributable reserves: +€11,711
- Purchases and services +€28,474
up €28,474 (+30.9%), from €92,107 to €120,581
- Gross operating margin -€3,985
down €3,985 (-6.3%), from €63,398 to €59,413
- Depreciation +€3,718
up €3,718 (+17.1%), from €21,710 to €25,427
- Financial charges -€1,584
down €1,584 (-12.3%), from €12,883 to €11,300
- Other operating charges -€1,056
down €1,056 (-13.9%), from €7,592 to €6,536
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 | €387,505 | €460,266 | +€72,761 | +18.8% |
| Fixed assets | 21/28 | €379,469 | €423,332 | +€43,863 | +11.6% |
| Tangible fixed assets | 22/27 | €379,469 | €423,332 | +€43,863 | +11.6% |
| Land and buildings | 22 | €350,477 | €336,980 | -€13,497 | -3.9% |
| Plant, machinery and equipment | 23 | €28,992 | €76,362 | +€47,370 | +163.4% |
| Furniture and vehicles | 24 | - | €9,990 | +€9,990 | |
| Current assets | 29/58 | €8,036 | €36,935 | +€28,898 | +359.6% |
| Amounts receivable within one year | 40/41 | €577 | €26 | -€551 | -95.5% |
| Trade receivables | 40 | €350 | - | -€350 | |
| Other amounts receivable | 41 | €227 | €26 | -€201 | -88.5% |
| Cash at bank and in hand | 54/58 | €7,459 | €36,909 | +€29,449 | +394.8% |
| Total equity and liabilities | 10/49 | €387,505 | €460,266 | +€72,761 | +18.8% |
| Equity | 10/15 | €80,755 | €92,466 | +€11,711 | +14.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Outside capital | 11 | €18,600 | €18,600 | = | 0.0% |
| Other | 1109/19 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €55,728 | €67,439 | +€11,711 | +21.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €53,868 | €65,579 | +€11,711 | +21.7% |
| Profit (loss) carried forward | 14 | €6,427 | €6,427 | = | 0.0% |
| Amounts payable | 17/49 | €306,750 | €367,800 | +€61,050 | +19.9% |
| Amounts payable after more than one year | 17 | €191,811 | €178,593 | -€13,218 | -6.9% |
| Financial debts | 170/4 | €191,811 | €178,593 | -€13,218 | -6.9% |
| Amounts payable within one year | 42/48 | €114,939 | €189,207 | +€74,268 | +64.6% |
| Current portion of amounts payable after more than one year | 42 | €21,716 | €26,260 | +€4,544 | +20.9% |
| Trade debts | 44 | €5,326 | €23,594 | +€18,268 | +343.0% |
| Suppliers | 440/4 | €5,326 | €23,594 | +€18,268 | +343.0% |
| Advances received on contracts in progress | 46 | - | €27,113 | +€27,113 | |
| Taxes, remuneration and social security | 45 | €6,679 | €6,599 | -€80 | -1.2% |
| Taxes | 450/3 | €6,679 | €6,599 | -€80 | -1.2% |
| Other amounts payable | 47/48 | €81,218 | €105,640 | +€24,423 | +30.1% |
| Non-recurring operating income | 76A | €10,187 | - | -€10,187 | |
| Goods, raw materials, services and sundry goods | 60/61 | €92,107 | €120,581 | +€28,474 | +30.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,710 | €25,427 | +€3,718 | +17.1% |
| Other operating charges | 640/8 | €7,592 | €6,536 | -€1,056 | -13.9% |
| Non-recurring operating charges | 66A | €1,236 | - | -€1,236 | |
| Gross operating margin | 9900 | €63,398 | €59,413 | -€3,985 | -6.3% |
| Operating profit (loss) | 9901 | €32,860 | €27,449 | -€5,411 | -16.5% |
| Financial income | 75/76B | €17 | €0 | -€17 | -98.8% |
| Recurring financial income | 75 | €17 | €0 | -€17 | -98.8% |
| Financial charges | 65/66B | €12,883 | €11,300 | -€1,584 | -12.3% |
| Recurring financial charges | 65 | €12,883 | €11,300 | -€1,584 | -12.3% |
| Profit (loss) for the period before taxes | 9903 | €19,994 | €16,150 | -€3,844 | -19.2% |
| Income taxes | 67/77 | €4,917 | €4,439 | -€478 | -9.7% |
| Profit (loss) for the period | 9904 | €15,077 | €11,711 | -€3,366 | -22.3% |
| Profit (loss) for the period to be appropriated | 9905 | €15,077 | €11,711 | -€3,366 | -22.3% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.