Trone Holding: 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.
Trone Holding
Largest movements
- Financial fixed assets -€16.8m
down €16.8m (-100.0%), from €16.8m to €0
- Intangible fixed assets +€13.6m
new in 2026: €13.6m
- Tangible fixed assets +€4.9m
up €4.9m (+218.9%), from €2.2m to €7.2m
of which Land and buildings: +€4.8m
- Deferred charges and accrued income -€411,322
down €411,322 (-43.8%), from €939,037 to €527,714
- Receivables within one year +€368,286
up €368,286 (+1377.7%), from €26,733 to €395,018
of which Trade receivables: +€308,286
- Debts after one year +€15.3m
up €15.3m, from €0 to €15.3m
- Current portion of long-term debt -€7.4m
down €7.4m (-100.0%), from €7.4m to €0
- Other debts -€5.2m
down €5.2m (-100.0%), from €5.2m to €0
- Profit (loss) carried forward -€1.3m
down €1.3m (-65.2%), from -€2.0m to -€3.2m
- Depreciation +€1.8m
up €1.8m (+688.8%), from €265,814 to €2.1m
- Gross operating margin +€1.4m
up €1.4m (+276.0%), from €493,264 to €1.9m
- Financial charges +€308,474
up €308,474 (+88.4%), from €348,785 to €657,259
- Other operating charges +€32,045
up €32,045 (+4.6%), from €702,847 to €734,893
- Financial income +€24,157
up €24,157 (+7.3%), from €331,102 to €355,259
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 | €21,853,743 | €23,201,731 | +€1.3m | +6.2% |
| Fixed assets | 21/28 | €19,023,265 | €20,775,872 | +€1.8m | +9.2% |
| Intangible fixed assets | 21 | - | €13,619,557 | +€13.6m | |
| Tangible fixed assets | 22/27 | €2,243,999 | €7,156,315 | +€4.9m | +218.9% |
| Land and buildings | 22 | - | €4,794,318 | +€4.8m | |
| Furniture and vehicles | 24 | €10,830 | €9,120 | -€1,711 | -15.8% |
| Other tangible fixed assets | 26 | €1,676,382 | €2,085,378 | +€408,996 | +24.4% |
| Assets under construction and advance payments | 27 | €556,786 | €267,499 | -€289,287 | -52.0% |
| Financial fixed assets | 28 | €16,779,266 | €0 | -€16.8m | -100.0% |
| Current assets | 29/58 | €2,830,478 | €2,425,859 | -€404,618 | -14.3% |
| Amounts receivable within one year | 40/41 | €26,733 | €395,018 | +€368,286 | +1377.7% |
| Trade receivables | 40 | €26,733 | €335,018 | +€308,286 | +1153.2% |
| Other amounts receivable | 41 | - | €60,000 | +€60,000 | |
| Cash at bank and in hand | 54/58 | €1,864,709 | €1,503,127 | -€361,582 | -19.4% |
| Deferred charges and accrued income | 490/1 | €939,037 | €527,714 | -€411,322 | -43.8% |
| Total equity and liabilities | 10/49 | €21,853,743 | €23,201,731 | +€1.3m | +6.2% |
| Equity | 10/15 | €8,394,583 | €7,115,727 | -€1.3m | -15.2% |
| Contributions | 10/11 | €10,330,000 | €10,330,000 | = | 0.0% |
| Capital | 10 | €10,330,000 | €10,330,000 | = | 0.0% |
| Issued capital | 100 | €10,330,000 | €10,330,000 | = | 0.0% |
| Reserves | 13 | €27,464 | €27,464 | = | 0.0% |
| Non-distributable reserves | 130/1 | €27,464 | €27,464 | = | 0.0% |
| Legal reserve | 130 | €27,464 | €27,464 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,962,881 | -€3,241,738 | -€1.3m | -65.2% |
| Amounts payable | 17/49 | €13,459,160 | €16,086,005 | +€2.6m | +19.5% |
| Amounts payable after more than one year | 17 | €0 | €15,309,000 | +€15.3m | |
| Other amounts payable | 178/9 | €0 | €15,309,000 | +€15.3m | |
| Amounts payable within one year | 42/48 | €12,843,267 | €359,840 | -€12.5m | -97.2% |
| Current portion of amounts payable after more than one year | 42 | €7,355,000 | €0 | -€7.4m | -100.0% |
| Trade debts | 44 | €117,266 | €187,430 | +€70,164 | +59.8% |
| Suppliers | 440/4 | €117,266 | €187,430 | +€70,164 | +59.8% |
| Taxes, remuneration and social security | 45 | €184,426 | €172,410 | -€12,016 | -6.5% |
| Taxes | 450/3 | €184,426 | €172,410 | -€12,016 | -6.5% |
| Other amounts payable | 47/48 | €5,186,575 | €0 | -€5.2m | -100.0% |
| Accrued charges and deferred income | 492/3 | €615,893 | €417,165 | -€198,728 | -32.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €265,814 | €2,096,664 | +€1.8m | +688.8% |
| Other operating charges | 640/8 | €702,847 | €734,893 | +€32,045 | +4.6% |
| Gross operating margin | 9900 | €493,264 | €1,854,700 | +€1.4m | +276.0% |
| Operating profit (loss) | 9901 | -€475,397 | -€976,857 | -€501,459 | -105.5% |
| Financial income | 75/76B | €331,102 | €355,259 | +€24,157 | +7.3% |
| Recurring financial income | 75 | €331,102 | €355,259 | +€24,157 | +7.3% |
| Financial charges | 65/66B | €348,785 | €657,259 | +€308,474 | +88.4% |
| Recurring financial charges | 65 | €348,785 | €657,259 | +€308,474 | +88.4% |
| Profit (loss) for the period before taxes | 9903 | -€493,080 | -€1,278,857 | -€785,776 | -159.4% |
| Profit (loss) for the period | 9904 | -€493,080 | -€1,278,857 | -€785,776 | -159.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€493,080 | -€1,278,857 | -€785,776 | -159.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.