Troonen-David: 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.
Troonen-David
Largest movements
- Current investments -€464,709
down €464,709 (-52.5%), from €885,634 to €420,925
- Cash +€190,873
up €190,873 (+205%), from €93,249 to €284,122
mainly Current investments (+€464,709) and Depreciation (+€224,732)
- Tangible fixed assets +€57,275
up €57,275 (+4.8%), from €1.2m to €1.3m
of which Land and buildings: +€163,496
- Stocks and contracts -€32,358
down €32,358 (-11.0%), from €294,227 to €261,869
- Receivables within one year +€29,285
up €29,285 (+31.9%), from €91,858 to €121,143
of which Other amounts receivable: +€49,739
- Debts after one year -€275,409
down €275,409 (-21.7%), from €1.3m to €991,811
of which Financial debts: -€222,152
- Reserves +€95,101
up €95,101 (+12.6%), from €757,439 to €852,540
- Trade debts -€36,257
down €36,257 (-27.4%), from €132,543 to €96,286
- Financial charges -€61,131
down €61,131 (-59.3%), from €103,116 to €41,984
- Depreciation +€53,337
up €53,337 (+31.1%), from €171,395 to €224,732
- Staff costs +€45,257
up €45,257 (+7.3%), from €621,637 to €666,894
- Gross operating margin -€31,953
down €31,953 (-2.9%), from €1.1m to €1.1m
- Taxes -€21,147
down €21,147 (-41.4%), from €51,032 to €29,885
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 | €2,574,839 | €2,355,291 | -€219,548 | -8.5% |
| Fixed assets | 21/28 | €1,195,983 | €1,253,258 | +€57,275 | +4.8% |
| Tangible fixed assets | 22/27 | €1,195,146 | €1,252,421 | +€57,275 | +4.8% |
| Land and buildings | 22 | €787,125 | €950,621 | +€163,496 | +20.8% |
| Plant, machinery and equipment | 23 | €280,610 | €179,980 | -€100,630 | -35.9% |
| Furniture and vehicles | 24 | €1,054 | €903 | -€150 | -14.3% |
| Leasing and similar rights | 25 | €113,223 | €90,226 | -€22,996 | -20.3% |
| Other tangible fixed assets | 26 | €13,135 | €30,691 | +€17,555 | +134% |
| Financial fixed assets | 28 | €837 | €837 | = | 0.0% |
| Current assets | 29/58 | €1,378,856 | €1,102,034 | -€276,823 | -20.1% |
| Stocks and contracts in progress | 3 | €294,227 | €261,869 | -€32,358 | -11.0% |
| Stocks | 30/36 | €294,227 | €261,869 | -€32,358 | -11.0% |
| Amounts receivable within one year | 40/41 | €91,858 | €121,143 | +€29,285 | +31.9% |
| Trade receivables | 40 | €91,858 | €71,404 | -€20,454 | -22.3% |
| Other amounts receivable | 41 | - | €49,739 | +€49,739 | |
| Current investments | 50/53 | €885,634 | €420,925 | -€464,709 | -52.5% |
| Cash at bank and in hand | 54/58 | €93,249 | €284,122 | +€190,873 | +205% |
| Deferred charges and accrued income | 490/1 | €13,889 | €13,975 | +€87 | +0.6% |
| Total equity and liabilities | 10/49 | €2,574,839 | €2,355,291 | -€219,548 | -8.5% |
| Equity | 10/15 | €881,386 | €976,487 | +€95,101 | +10.8% |
| Contributions | 10/11 | €123,947 | €123,947 | = | 0.0% |
| Reserves | 13 | €757,439 | €852,540 | +€95,101 | +12.6% |
| Distributable reserves | 133 | €757,439 | €852,540 | +€95,101 | +12.6% |
| Amounts payable | 17/49 | €1,693,453 | €1,378,804 | -€314,648 | -18.6% |
| Amounts payable after more than one year | 17 | €1,267,220 | €991,811 | -€275,409 | -21.7% |
| Financial debts | 170/4 | €852,518 | €630,366 | -€222,152 | -26.1% |
| Trade debts | 175 | €414,702 | €361,445 | -€53,257 | -12.8% |
| Amounts payable within one year | 42/48 | €422,483 | €386,624 | -€35,859 | -8.5% |
| Current portion of amounts payable after more than one year | 42 | €177,507 | €163,033 | -€14,474 | -8.2% |
| Trade debts | 44 | €132,543 | €96,286 | -€36,257 | -27.4% |
| Suppliers | 440/4 | €132,543 | €96,286 | -€36,257 | -27.4% |
| Taxes, remuneration and social security | 45 | €107,430 | €121,777 | +€14,347 | +13.4% |
| Taxes | 450/3 | €28,271 | €3,872 | -€24,399 | -86.3% |
| Remuneration and social security | 454/9 | €79,159 | €117,905 | +€38,746 | +48.9% |
| Other amounts payable | 47/48 | €5,003 | €5,527 | +€525 | +10.5% |
| Accrued charges and deferred income | 492/3 | €3,750 | €370 | -€3,380 | -90.1% |
| Remuneration, social security and pensions | 62 | €621,637 | €666,894 | +€45,257 | +7.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €171,395 | €224,732 | +€53,337 | +31.1% |
| Other operating charges | 640/8 | €22,407 | €17,923 | -€4,485 | -20.0% |
| Gross operating margin | 9900 | €1,089,714 | €1,057,761 | -€31,953 | -2.9% |
| Operating profit (loss) | 9901 | €274,274 | €148,212 | -€126,062 | -46.0% |
| Financial income | 75/76B | €23,489 | €18,758 | -€4,731 | -20.1% |
| Recurring financial income | 75 | €23,489 | €18,758 | -€4,731 | -20.1% |
| Financial charges | 65/66B | €103,116 | €41,984 | -€61,131 | -59.3% |
| Recurring financial charges | 65 | €103,116 | €41,984 | -€61,131 | -59.3% |
| Profit (loss) for the period before taxes | 9903 | €194,648 | €124,986 | -€69,662 | -35.8% |
| Income taxes | 67/77 | €51,032 | €29,885 | -€21,147 | -41.4% |
| Profit (loss) for the period | 9904 | €143,616 | €95,101 | -€48,515 | -33.8% |
| Profit (loss) for the period to be appropriated | 9905 | €143,616 | €95,101 | -€48,515 | -33.8% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.