TROLLENHOL: 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.
TROLLENHOL
Largest movements
- Cash +€176,985
up €176,985 (+45.0%), from €392,958 to €569,942
mainly Receivables within one year (+€169,348) and Net result for the year (+€116,305)
- Receivables within one year -€169,348
down €169,348 (-73.9%), from €229,026 to €59,678
of which Trade receivables: -€158,846
- Current investments +€33,333
new in 2025: €33,333
- Trade debts -€145,213
down €145,213 (-68.7%), from €211,497 to €66,284
- Reserves +€116,305
up €116,305 (+73.1%), from €159,192 to €275,497
- Debts after one year -€65,712
down €65,712 (-7.1%), from €922,386 to €856,674
- Accrued charges and deferred income +€60,074
new in 2025: €60,074
- Other debts +€41,300
up €41,300 (+4.9%), from €837,217 to €878,517
- Depreciation -€139,089
down €139,089 (-78.3%), from €177,726 to €38,638
- Financial charges +€92,106
up €92,106 (+1,484%), from €6,206 to €98,312
- Taxes +€19,312
up €19,312 (+56.0%), from €34,498 to €53,810
- Gross operating margin +€6,770
up €6,770 (+2.2%), from €306,329 to €313,099
- Other operating charges +€3,484
up €3,484 (+135%), from €2,573 to €6,057
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 | €2,199,136 | €2,256,600 | +€57,463 | +2.6% |
| Fixed assets | 21/28 | €1,577,152 | €1,593,645 | +€16,493 | +1.0% |
| Tangible fixed assets | 22/27 | €1,577,152 | €1,593,645 | +€16,493 | +1.0% |
| Land and buildings | 22 | €1,561,737 | €1,580,083 | +€18,347 | +1.2% |
| Plant, machinery and equipment | 23 | €1,916 | €836 | -€1,080 | -56.4% |
| Furniture and vehicles | 24 | €3,645 | €2,872 | -€773 | -21.2% |
| Other tangible fixed assets | 26 | €9,854 | €9,854 | = | 0.0% |
| Current assets | 29/58 | €621,984 | €662,954 | +€40,970 | +6.6% |
| Amounts receivable within one year | 40/41 | €229,026 | €59,678 | -€169,348 | -73.9% |
| Trade receivables | 40 | €217,024 | €58,178 | -€158,846 | -73.2% |
| Other amounts receivable | 41 | €12,002 | €1,500 | -€10,502 | -87.5% |
| Current investments | 50/53 | - | €33,333 | +€33,333 | |
| Cash at bank and in hand | 54/58 | €392,958 | €569,942 | +€176,985 | +45.0% |
| Total equity and liabilities | 10/49 | €2,199,136 | €2,256,600 | +€57,463 | +2.6% |
| Equity | 10/15 | €177,792 | €294,097 | +€116,305 | +65.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €159,192 | €275,497 | +€116,305 | +73.1% |
| Distributable reserves | 133 | €159,192 | €275,497 | +€116,305 | +73.1% |
| Amounts payable | 17/49 | €2,021,345 | €1,962,502 | -€58,842 | -2.9% |
| Amounts payable after more than one year | 17 | €922,386 | €856,674 | -€65,712 | -7.1% |
| Financial debts | 170/4 | €922,386 | €856,674 | -€65,712 | -7.1% |
| Amounts payable within one year | 42/48 | €1,098,958 | €1,045,754 | -€53,204 | -4.8% |
| Current portion of amounts payable after more than one year | 42 | €17,614 | €42,347 | +€24,734 | +140% |
| Financial debts | 43 | €9,421 | €8,462 | -€960 | -10.2% |
| Credit institutions | 430/8 | €7,921 | €8,462 | +€540 | +6.8% |
| Other loans | 439 | €1,500 | - | -€1,500 | |
| Trade debts | 44 | €211,497 | €66,284 | -€145,213 | -68.7% |
| Suppliers | 440/4 | €211,497 | €66,284 | -€145,213 | -68.7% |
| Taxes, remuneration and social security | 45 | €23,209 | €50,144 | +€26,935 | +116% |
| Taxes | 450/3 | €23,209 | €50,144 | +€26,935 | +116% |
| Other amounts payable | 47/48 | €837,217 | €878,517 | +€41,300 | +4.9% |
| Accrued charges and deferred income | 492/3 | - | €60,074 | +€60,074 | |
| Non-recurring operating income | 76A | €18,676 | - | -€18,676 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €177,726 | €38,638 | -€139,089 | -78.3% |
| Other operating charges | 640/8 | €2,573 | €6,057 | +€3,484 | +135% |
| Gross operating margin | 9900 | €306,329 | €313,099 | +€6,770 | +2.2% |
| Operating profit (loss) | 9901 | €126,029 | €268,404 | +€142,375 | +113% |
| Financial income | 75/76B | €149 | €23 | -€125 | -84.2% |
| Recurring financial income | 75 | €149 | €23 | -€125 | -84.2% |
| Financial charges | 65/66B | €6,206 | €98,312 | +€92,106 | +1,484% |
| Recurring financial charges | 65 | €6,206 | €98,312 | +€92,106 | +1,484% |
| Profit (loss) for the period before taxes | 9903 | €119,971 | €170,115 | +€50,144 | +41.8% |
| Income taxes | 67/77 | €34,498 | €53,810 | +€19,312 | +56.0% |
| Profit (loss) for the period | 9904 | €85,474 | €116,305 | +€30,832 | +36.1% |
| Profit (loss) for the period to be appropriated | 9905 | €85,474 | €116,305 | +€30,832 | +36.1% |
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 21 October 2026 via checked.be.