TROISMER: 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.
TROISMER
Largest movements
- Receivables within one year +€6.7m
up €6.7m (+50.0%), from €13.4m to €20.1m
of which Other amounts receivable: +€6.8m
- Cash -€3.9m
down €3.9m (-97.4%), from €4.0m to €105,598
mainly Receivables within one year (-€6.7m) and Receivables after one year (-€301,303)
- Reserves +€31.3m
up €31.3m (+2198.2%), from €1.4m to €32.7m
of which Distributable reserves: +€31.3m
- Profit (loss) carried forward -€30.3m
down €30.3m (-100.0%), from €30.3m to €0
- Other debts +€2.3m
up €2.3m (+95.2%), from €2.4m to €4.7m
- Financial income -€12.6m
down €12.6m (-87.6%), from €14.4m to €1.8m
of which Non-recurring financial income: -€12.5m
- Gross operating margin +€418,047
up €418,047 (+57.2%), from -€730,378 to -€312,331
- Financial charges -€397,741
down €397,741 (-49.7%), from €799,620 to €401,880
of which Financial charges: -€256,725
- Staff costs -€36,614
down €36,614 (-30.1%), from €121,716 to €85,102
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 | €52,086,148 | €55,477,032 | +€3.4m | +6.5% |
| Fixed assets | 21/28 | €24,766,207 | €25,019,597 | +€253,390 | +1.0% |
| Tangible fixed assets | 22/27 | €2,540 | €36,456 | +€33,916 | +1335.2% |
| Furniture and vehicles | 24 | €2,540 | €36,456 | +€33,916 | +1335.2% |
| Financial fixed assets | 28 | €24,763,667 | €24,983,141 | +€219,474 | +0.9% |
| Current assets | 29/58 | €27,319,941 | €30,457,435 | +€3.1m | +11.5% |
| Amounts receivable after more than one year | 29 | €9,860,137 | €10,161,439 | +€301,303 | +3.1% |
| Other amounts receivable | 291 | €9,860,137 | €10,161,439 | +€301,303 | +3.1% |
| Amounts receivable within one year | 40/41 | €13,421,076 | €20,128,929 | +€6.7m | +50.0% |
| Trade receivables | 40 | €212,432 | €146,848 | -€65,584 | -30.9% |
| Other amounts receivable | 41 | €13,208,644 | €19,982,081 | +€6.8m | +51.3% |
| Cash at bank and in hand | 54/58 | €3,985,184 | €105,598 | -€3.9m | -97.4% |
| Deferred charges and accrued income | 490/1 | €53,544 | €61,469 | +€7,925 | +14.8% |
| Total equity and liabilities | 10/49 | €52,086,148 | €55,477,032 | +€3.4m | +6.5% |
| Equity | 10/15 | €45,994,104 | €46,940,473 | +€946,369 | +2.1% |
| Contributions | 10/11 | €14,232,000 | €14,232,000 | = | 0.0% |
| Reserves | 13 | €1,423,200 | €32,708,473 | +€31.3m | +2198.2% |
| Non-distributable reserves | 130/1 | €1,423,200 | €1,423,200 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,423,200 | €1,423,200 | = | 0.0% |
| Distributable reserves | 133 | - | €31,285,273 | +€31.3m | |
| Profit (loss) carried forward | 14 | €30,338,904 | €0 | -€30.3m | -100.0% |
| Amounts payable | 17/49 | €6,092,044 | €8,536,560 | +€2.4m | +40.1% |
| Amounts payable after more than one year | 17 | €3,134,575 | €3,373,820 | +€239,245 | +7.6% |
| Financial debts | 170/4 | €631,000 | €679,082 | +€48,082 | +7.6% |
| Other amounts payable | 178/9 | €2,503,575 | €2,694,739 | +€191,163 | +7.6% |
| Amounts payable within one year | 42/48 | €2,438,180 | €4,807,601 | +€2.4m | +97.2% |
| Trade debts | 44 | €19,999 | €95,831 | +€75,832 | +379.2% |
| Suppliers | 440/4 | €19,999 | €95,831 | +€75,832 | +379.2% |
| Taxes, remuneration and social security | 45 | €10,154 | €10,512 | +€358 | +3.5% |
| Taxes | 450/3 | €445 | €456 | +€11 | +2.4% |
| Remuneration and social security | 454/9 | €9,709 | €10,056 | +€347 | +3.6% |
| Other amounts payable | 47/48 | €2,408,027 | €4,701,258 | +€2.3m | +95.2% |
| Accrued charges and deferred income | 492/3 | €519,289 | €355,138 | -€164,150 | -31.6% |
| Remuneration, social security and pensions | 62 | €121,716 | €85,102 | -€36,614 | -30.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,183 | €7,098 | +€4,915 | +225.2% |
| Other operating charges | 640/8 | €2,565 | €2,070 | -€495 | -19.3% |
| Gross operating margin | 9900 | -€730,378 | -€312,331 | +€418,047 | +57.2% |
| Operating profit (loss) | 9901 | -€856,841 | -€406,601 | +€450,240 | +52.5% |
| Financial income | 75/76B | €14,357,088 | €1,773,153 | -€12.6m | -87.6% |
| Recurring financial income | 75 | €929,566 | €885,283 | -€44,283 | -4.8% |
| Non-recurring financial income | 76B | €13,427,522 | €887,869 | -€12.5m | -93.4% |
| Financial charges | 65/66B | €799,620 | €401,880 | -€397,741 | -49.7% |
| Recurring financial charges | 65 | €658,604 | €401,880 | -€256,725 | -39.0% |
| Non-recurring financial charges | 66B | €141,016 | €0 | -€141,016 | -100.0% |
| Profit (loss) for the period before taxes | 9903 | €12,700,627 | €964,672 | -€11.7m | -92.4% |
| Income taxes | 67/77 | €21,959 | €18,303 | -€3,656 | -16.6% |
| Profit (loss) for the period | 9904 | €12,678,667 | €946,369 | -€11.7m | -92.5% |
| Profit (loss) for the period to be appropriated | 9905 | €12,678,667 | €946,369 | -€11.7m | -92.5% |
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 6 October 2026 via checked.be.