Trofee: 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.
Trofee
Largest movements
- Tangible fixed assets -€23,452
down €23,452 (-15.2%), from €154,074 to €130,622
of which Land and buildings: -€24,351
- Debts after one year -€873,497
down €873,497 (-91.2%), from €957,553 to €84,056
- Current portion of long-term debt +€853,188
up €853,188 (+4,201%), from €20,309 to €873,497
- Gross operating margin -€25,026
down €25,026 (-41.6%), from €60,133 to €35,107
- Taxes -€8,475
down €8,475 (-77.2%), from €10,976 to €2,501
- Financial income -€1,568
down €1,568 (-78.6%), from €1,996 to €428
- Depreciation +€1,243
up €1,243 (+4.6%), from €27,023 to €28,266
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 | €1,115,272 | €1,093,316 | -€21,956 | -2.0% |
| Fixed assets | 21/28 | €1,073,874 | €1,051,632 | -€22,242 | -2.1% |
| Tangible fixed assets | 22/27 | €154,074 | €130,622 | -€23,452 | -15.2% |
| Land and buildings | 22 | €148,592 | €124,242 | -€24,351 | -16.4% |
| Plant, machinery and equipment | 23 | €5,482 | €6,380 | +€898 | +16.4% |
| Financial fixed assets | 28 | €919,800 | €921,010 | +€1,210 | +0.1% |
| Current assets | 29/58 | €41,398 | €41,684 | +€286 | +0.7% |
| Amounts receivable within one year | 40/41 | €9,284 | €12,257 | +€2,972 | +32.0% |
| Trade receivables | 40 | €950 | €950 | = | 0.0% |
| Other amounts receivable | 41 | €8,335 | €11,307 | +€2,972 | +35.7% |
| Cash at bank and in hand | 54/58 | €31,401 | €28,866 | -€2,535 | -8.1% |
| Deferred charges and accrued income | 490/1 | €713 | €562 | -€151 | -21.2% |
| Total equity and liabilities | 10/49 | €1,115,272 | €1,093,316 | -€21,956 | -2.0% |
| Equity | 10/15 | €131,714 | €129,556 | -€2,158 | -1.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €125,514 | €123,356 | -€2,158 | -1.7% |
| Distributable reserves | 133 | €125,514 | €123,356 | -€2,158 | -1.7% |
| Amounts payable | 17/49 | €983,559 | €963,761 | -€19,798 | -2.0% |
| Amounts payable after more than one year | 17 | €957,553 | €84,056 | -€873,497 | -91.2% |
| Financial debts | 170/4 | €957,553 | €84,056 | -€873,497 | -91.2% |
| Amounts payable within one year | 42/48 | €25,715 | €878,956 | +€853,241 | +3,318% |
| Current portion of amounts payable after more than one year | 42 | €20,309 | €873,497 | +€853,188 | +4,201% |
| Trade debts | 44 | €2,178 | €1,931 | -€247 | -11.3% |
| Suppliers | 440/4 | €2,178 | €1,931 | -€247 | -11.3% |
| Taxes, remuneration and social security | 45 | €3,228 | €3,527 | +€300 | +9.3% |
| Taxes | 450/3 | €3,228 | €3,527 | +€300 | +9.3% |
| Accrued charges and deferred income | 492/3 | €291 | €749 | +€458 | +158% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,023 | €28,266 | +€1,243 | +4.6% |
| Other operating charges | 640/8 | €3,076 | €3,035 | -€41 | -1.3% |
| Gross operating margin | 9900 | €60,133 | €35,107 | -€25,026 | -41.6% |
| Operating profit (loss) | 9901 | €30,034 | €3,805 | -€26,229 | -87.3% |
| Financial income | 75/76B | €1,996 | €428 | -€1,568 | -78.6% |
| Recurring financial income | 75 | €1,996 | €428 | -€1,568 | -78.6% |
| Financial charges | 65/66B | €4,416 | €3,890 | -€526 | -11.9% |
| Recurring financial charges | 65 | €4,416 | €3,890 | -€526 | -11.9% |
| Profit (loss) for the period before taxes | 9903 | €27,614 | €343 | -€27,271 | -98.8% |
| Income taxes | 67/77 | €10,976 | €2,501 | -€8,475 | -77.2% |
| Profit (loss) for the period | 9904 | €16,638 | -€2,158 | -€18,796 | |
| Profit (loss) for the period to be appropriated | 9905 | €16,638 | -€2,158 | -€18,796 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.