Trofy: 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.
Trofy
Largest movements
- Cash -€235,316
down €235,316 (-82.6%), from €284,946 to €49,630
mainly Contributions, distributions and other (-€337,279) and Current investments (-€30,000)
- Receivables within one year -€40,143
down €40,143 (-67.9%), from €59,087 to €18,944
of which Other amounts receivable: -€35,459
- Receivables after one year -€37,500
down €37,500 (-100.0%), from €37,500 to €0
- Current investments +€30,000
up €30,000 (+71.4%), from €42,000 to €72,000
- Tangible fixed assets -€18,255
down €18,255 (-24.4%), from €74,803 to €56,548
of which Furniture and vehicles: -€17,743
- Profit (loss) carried forward -€279,093
down €279,093 (-71.5%), from €390,594 to €111,501
- Debts after one year -€21,255
down €21,255 (-70.0%), from €30,355 to €9,100
- Tax, wage and social debts -€20,242
down €20,242 (-41.8%), from €48,464 to €28,223
of which Taxes: -€14,064
- Other debts +€12,065
new in 2025: €12,065
- Gross operating margin -€18,178
down €18,178 (-16.0%), from €113,555 to €95,377
- Depreciation +€7,758
up €7,758 (+71.8%), from €10,798 to €18,555
- Financial income -€2,977
down €2,977 (-99.7%), from €2,986 to €9
- Financial charges +€1,715
up €1,715 (+199.0%), from €861 to €2,576
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 | €502,342 | €197,475 | -€304,867 | -60.7% |
| Fixed assets | 21/28 | €75,402 | €56,847 | -€18,555 | -24.6% |
| Intangible fixed assets | 21 | €599 | €299 | -€300 | -50.1% |
| Tangible fixed assets | 22/27 | €74,803 | €56,548 | -€18,255 | -24.4% |
| Plant, machinery and equipment | 23 | €1,824 | €1,312 | -€512 | -28.1% |
| Furniture and vehicles | 24 | €72,979 | €55,236 | -€17,743 | -24.3% |
| Current assets | 29/58 | €426,939 | €140,628 | -€286,312 | -67.1% |
| Amounts receivable after more than one year | 29 | €37,500 | €0 | -€37,500 | -100.0% |
| Other amounts receivable | 291 | €37,500 | €0 | -€37,500 | -100.0% |
| Amounts receivable within one year | 40/41 | €59,087 | €18,944 | -€40,143 | -67.9% |
| Trade receivables | 40 | €23,627 | €18,944 | -€4,684 | -19.8% |
| Other amounts receivable | 41 | €35,459 | €0 | -€35,459 | -100.0% |
| Current investments | 50/53 | €42,000 | €72,000 | +€30,000 | +71.4% |
| Cash at bank and in hand | 54/58 | €284,946 | €49,630 | -€235,316 | -82.6% |
| Deferred charges and accrued income | 490/1 | €3,406 | €53 | -€3,353 | -98.4% |
| Total equity and liabilities | 10/49 | €502,342 | €197,475 | -€304,867 | -60.7% |
| Equity | 10/15 | €400,594 | €121,501 | -€279,093 | -69.7% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €390,594 | €111,501 | -€279,093 | -71.5% |
| Amounts payable | 17/49 | €101,748 | €75,974 | -€25,774 | -25.3% |
| Amounts payable after more than one year | 17 | €30,355 | €9,100 | -€21,255 | -70.0% |
| Financial debts | 170/4 | €30,355 | €9,100 | -€21,255 | -70.0% |
| Amounts payable within one year | 42/48 | €71,393 | €66,874 | -€4,519 | -6.3% |
| Current portion of amounts payable after more than one year | 42 | €20,865 | €22,521 | +€1,656 | +7.9% |
| Trade debts | 44 | €2,064 | €4,066 | +€2,002 | +97.0% |
| Suppliers | 440/4 | €2,064 | €4,066 | +€2,002 | +97.0% |
| Taxes, remuneration and social security | 45 | €48,464 | €28,223 | -€20,242 | -41.8% |
| Taxes | 450/3 | €42,287 | €28,223 | -€14,064 | -33.3% |
| Remuneration and social security | 454/9 | €6,178 | €0 | -€6,178 | -100.0% |
| Other amounts payable | 47/48 | - | €12,065 | +€12,065 | |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,798 | €18,555 | +€7,758 | +71.8% |
| Other operating charges | 640/8 | €592 | €621 | +€29 | +5.0% |
| Non-recurring operating charges | 66A | €35,130 | €0 | -€35,130 | -100.0% |
| Gross operating margin | 9900 | €113,555 | €95,377 | -€18,178 | -16.0% |
| Operating profit (loss) | 9901 | €67,035 | €76,201 | +€9,166 | +13.7% |
| Financial income | 75/76B | €2,986 | €9 | -€2,977 | -99.7% |
| Recurring financial income | 75 | €2,986 | €9 | -€2,977 | -99.7% |
| Financial charges | 65/66B | €861 | €2,576 | +€1,715 | +199.0% |
| Recurring financial charges | 65 | €861 | €2,576 | +€1,715 | +199.0% |
| Profit (loss) for the period before taxes | 9903 | €69,160 | €73,634 | +€4,474 | +6.5% |
| Income taxes | 67/77 | €15,844 | €15,448 | -€396 | -2.5% |
| Profit (loss) for the period | 9904 | €53,315 | €58,186 | +€4,871 | +9.1% |
| Profit (loss) for the period to be appropriated | 9905 | €53,315 | €58,186 | +€4,871 | +9.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.