TROCH-PELEMAN: 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.
TROCH-PELEMAN
Largest movements
- Cash -€37,571
down €37,571 (-27.9%), from €134,532 to €96,962
mainly Contributions, distributions and other (-€70,000) and Investment in fixed assets (net) (-€48,935)
- Tangible fixed assets +€19,113
up €19,113 (+10.8%), from €176,955 to €196,067
of which Land and buildings: +€28,299
- Receivables within one year +€5,561
up €5,561 (+38.3%), from €14,504 to €20,066
of which Other amounts receivable: +€4,904
- Deferred charges and accrued income +€4,373
up €4,373 (+35.9%), from €12,190 to €16,564
- Reserves +€12,443
up €12,443 (+24.1%), from €51,645 to €64,088
- Tax, wage and social debts -€11,109
down €11,109 (-16.3%), from €68,246 to €57,136
of which Taxes: -€12,721
- Trade debts -€9,528
down €9,528 (-15.7%), from €60,858 to €51,330
- Gross operating margin -€41,457
down €41,457 (-11.0%), from €375,937 to €334,480
- Taxes -€19,697
down €19,697 (-36.6%), from €53,813 to €34,116
- Staff costs +€12,228
up €12,228 (+7.0%), from €174,041 to €186,269
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 | €338,482 | €329,958 | -€8,523 | -2.5% |
| Fixed assets | 21/28 | €177,255 | €196,367 | +€19,113 | +10.8% |
| Tangible fixed assets | 22/27 | €176,955 | €196,067 | +€19,113 | +10.8% |
| Land and buildings | 22 | €134,900 | €163,199 | +€28,299 | +21.0% |
| Plant, machinery and equipment | 23 | €4,103 | €3,811 | -€291 | -7.1% |
| Furniture and vehicles | 24 | €37,952 | €29,057 | -€8,895 | -23.4% |
| Financial fixed assets | 28 | €300 | €300 | = | 0.0% |
| Current assets | 29/58 | €161,227 | €133,591 | -€27,636 | -17.1% |
| Amounts receivable within one year | 40/41 | €14,504 | €20,066 | +€5,561 | +38.3% |
| Trade receivables | 40 | €14,504 | €15,162 | +€658 | +4.5% |
| Other amounts receivable | 41 | - | €4,904 | +€4,904 | |
| Cash at bank and in hand | 54/58 | €134,532 | €96,962 | -€37,571 | -27.9% |
| Deferred charges and accrued income | 490/1 | €12,190 | €16,564 | +€4,373 | +35.9% |
| Total equity and liabilities | 10/49 | €338,482 | €329,958 | -€8,523 | -2.5% |
| Equity | 10/15 | €208,960 | €221,404 | +€12,443 | +6.0% |
| Contributions | 10/11 | €75,000 | €75,000 | = | 0.0% |
| Reserves | 13 | €51,645 | €64,088 | +€12,443 | +24.1% |
| Distributable reserves | 133 | €51,645 | €64,088 | +€12,443 | +24.1% |
| Profit (loss) carried forward | 14 | €82,315 | €82,315 | = | 0.0% |
| Amounts payable | 17/49 | €129,521 | €108,555 | -€20,967 | -16.2% |
| Amounts payable within one year | 42/48 | €129,521 | €108,555 | -€20,967 | -16.2% |
| Trade debts | 44 | €60,858 | €51,330 | -€9,528 | -15.7% |
| Suppliers | 440/4 | €60,858 | €51,330 | -€9,528 | -15.7% |
| Taxes, remuneration and social security | 45 | €68,246 | €57,136 | -€11,109 | -16.3% |
| Taxes | 450/3 | €46,650 | €33,929 | -€12,721 | -27.3% |
| Remuneration and social security | 454/9 | €21,596 | €23,207 | +€1,612 | +7.5% |
| Other amounts payable | 47/48 | €418 | €88 | -€330 | -79.0% |
| Remuneration, social security and pensions | 62 | €174,041 | €186,269 | +€12,228 | +7.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,462 | €29,823 | +€3,361 | +12.7% |
| Other operating charges | 640/8 | €1,835 | €1,823 | -€12 | -0.6% |
| Gross operating margin | 9900 | €375,937 | €334,480 | -€41,457 | -11.0% |
| Operating profit (loss) | 9901 | €173,600 | €116,565 | -€57,035 | -32.9% |
| Financial income | 75/76B | €69 | €1 | -€68 | -99.2% |
| Recurring financial income | 75 | €69 | €1 | -€68 | -99.2% |
| Financial charges | 65/66B | €210 | €6 | -€204 | -97.0% |
| Recurring financial charges | 65 | €210 | €6 | -€204 | -97.0% |
| Profit (loss) for the period before taxes | 9903 | €173,458 | €116,559 | -€56,899 | -32.8% |
| Income taxes | 67/77 | €53,813 | €34,116 | -€19,697 | -36.6% |
| Profit (loss) for the period | 9904 | €119,645 | €82,443 | -€37,202 | -31.1% |
| Profit (loss) for the period to be appropriated | 9905 | €119,645 | €82,443 | -€37,202 | -31.1% |
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 24 October 2026 via checked.be.