TROEFF: 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.
TROEFF
Largest movements
- Cash +€55,550
up €55,550 (+49.9%), from €111,331 to €166,881
mainly Other debts (+€26,750) and Net result for the year (+€22,872)
- Receivables within one year +€9,706
up €9,706 (+20.4%), from €47,468 to €57,175
- Other debts +€26,750
up €26,750 (+229.4%), from €11,661 to €38,411
- Reserves +€22,872
up €22,872 (+26.1%), from €87,738 to €110,610
- Trade debts +€11,020
up €11,020 (+346.0%), from €3,185 to €14,204
- Tax, wage and social debts +€9,754
up €9,754 (+26.9%), from €36,255 to €46,009
of which Remuneration and social security: +€7,984
- Debts after one year -€5,618
down €5,618 (-28.3%), from €19,837 to €14,219
of which Financial debts: -€4,167
- Staff costs +€186,232
up €186,232 (+268.7%), from €69,297 to €255,529
- Gross operating margin +€130,771
up €130,771 (+79.8%), from €163,875 to €294,646
- Taxes -€7,513
down €7,513 (-40.0%), from €18,788 to €11,275
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €169,308 | €234,072 | +€64,764 | +38.3% |
| Fixed assets | 21/28 | €306 | €1,158 | +€852 | +278.9% |
| Tangible fixed assets | 22/27 | €306 | €1,158 | +€852 | +278.9% |
| Plant, machinery and equipment | 23 | €306 | €1,158 | +€852 | +278.9% |
| Current assets | 29/58 | €169,003 | €232,914 | +€63,912 | +37.8% |
| Amounts receivable within one year | 40/41 | €47,468 | €57,175 | +€9,706 | +20.4% |
| Trade receivables | 40 | €47,468 | €57,175 | +€9,706 | +20.4% |
| Cash at bank and in hand | 54/58 | €111,331 | €166,881 | +€55,550 | +49.9% |
| Deferred charges and accrued income | 490/1 | €10,203 | €8,858 | -€1,345 | -13.2% |
| Total equity and liabilities | 10/49 | €169,308 | €234,072 | +€64,764 | +38.3% |
| Equity | 10/15 | €92,738 | €115,610 | +€22,872 | +24.7% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €87,738 | €110,610 | +€22,872 | +26.1% |
| Distributable reserves | 133 | €87,738 | €110,610 | +€22,872 | +26.1% |
| Amounts payable | 17/49 | €76,570 | €118,462 | +€41,892 | +54.7% |
| Amounts payable after more than one year | 17 | €19,837 | €14,219 | -€5,618 | -28.3% |
| Financial debts | 170/4 | €8,907 | €4,740 | -€4,167 | -46.8% |
| Other amounts payable | 178/9 | €10,930 | €9,479 | -€1,451 | -13.3% |
| Amounts payable within one year | 42/48 | €56,499 | €104,243 | +€47,744 | +84.5% |
| Current portion of amounts payable after more than one year | 42 | €5,398 | €5,618 | +€220 | +4.1% |
| Trade debts | 44 | €3,185 | €14,204 | +€11,020 | +346.0% |
| Suppliers | 440/4 | €3,185 | €14,204 | +€11,020 | +346.0% |
| Taxes, remuneration and social security | 45 | €36,255 | €46,009 | +€9,754 | +26.9% |
| Taxes | 450/3 | €26,336 | €28,106 | +€1,770 | +6.7% |
| Remuneration and social security | 454/9 | €9,920 | €17,903 | +€7,984 | +80.5% |
| Other amounts payable | 47/48 | €11,661 | €38,411 | +€26,750 | +229.4% |
| Accrued charges and deferred income | 492/3 | €234 | €0 | -€234 | -100.0% |
| Remuneration, social security and pensions | 62 | €69,297 | €255,529 | +€186,232 | +268.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €165 | €271 | +€106 | +64.0% |
| Other operating charges | 640/8 | €590 | €1,326 | +€736 | +124.7% |
| Gross operating margin | 9900 | €163,875 | €294,646 | +€130,771 | +79.8% |
| Operating profit (loss) | 9901 | €93,823 | €37,521 | -€56,303 | -60.0% |
| Financial income | 75/76B | - | €1,245 | +€1,245 | |
| Recurring financial income | 75 | - | €1,245 | +€1,245 | |
| Financial charges | 65/66B | €1,942 | €4,618 | +€2,676 | +137.8% |
| Recurring financial charges | 65 | €1,942 | €4,618 | +€2,676 | +137.8% |
| Profit (loss) for the period before taxes | 9903 | €91,881 | €34,147 | -€57,734 | -62.8% |
| Income taxes | 67/77 | €18,788 | €11,275 | -€7,513 | -40.0% |
| Profit (loss) for the period | 9904 | €73,093 | €22,872 | -€50,221 | -68.7% |
| Profit (loss) for the period to be appropriated | 9905 | €73,093 | €22,872 | -€50,221 | -68.7% |
Source: filed annual accounts (NBB), fiscal years ended 30 April 2025 and 30 April 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.