TROPACK: 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.
TROPACK
Largest movements
- Cash +€682,053
up €682,053 (+297%), from €229,924 to €911,977
mainly Net result for the year (+€674,711) and Depreciation (+€181,666)
- Receivables within one year +€318,013
up €318,013 (+9.5%), from €3.3m to €3.7m
of which Trade receivables: +€315,765
- Tangible fixed assets -€143,166
down €143,166 (-30.2%), from €474,469 to €331,303
of which Furniture and vehicles: -€79,524
- Reserves +€674,711
up €674,711 (+17.7%), from €3.8m to €4.5m
of which Distributable reserves: +€697,302
- Trade debts +€148,247
up €148,247 (+10.1%), from €1.5m to €1.6m
- Tax, wage and social debts +€119,053
up €119,053 (+48.1%), from €247,469 to €366,522
of which Taxes: +€101,976
- Gross operating margin +€241,793
up €241,793 (+8.0%), from €3.0m to €3.3m
- Taxes +€52,419
up €52,419 (+24.7%), from €212,491 to €264,910
- Staff costs +€43,689
up €43,689 (+2.1%), from €2.1m to €2.1m
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 | €5,584,454 | €6,518,934 | +€934,480 | +16.7% |
| Fixed assets | 21/28 | €474,919 | €331,753 | -€143,166 | -30.1% |
| Tangible fixed assets | 22/27 | €474,469 | €331,303 | -€143,166 | -30.2% |
| Plant, machinery and equipment | 23 | €214,180 | €150,538 | -€63,643 | -29.7% |
| Furniture and vehicles | 24 | €260,289 | €180,765 | -€79,524 | -30.6% |
| Financial fixed assets | 28 | €450 | €450 | = | 0.0% |
| Current assets | 29/58 | €5,109,535 | €6,187,181 | +€1.1m | +21.1% |
| Stocks and contracts in progress | 3 | €150,857 | €193,430 | +€42,573 | +28.2% |
| Stocks | 30/36 | €150,857 | €193,430 | +€42,573 | +28.2% |
| Amounts receivable within one year | 40/41 | €3,333,489 | €3,651,502 | +€318,013 | +9.5% |
| Trade receivables | 40 | €3,135,588 | €3,451,353 | +€315,765 | +10.1% |
| Other amounts receivable | 41 | €197,901 | €200,149 | +€2,248 | +1.1% |
| Current investments | 50/53 | €1,250,285 | €1,250,285 | -€0 | 0.0% |
| Cash at bank and in hand | 54/58 | €229,924 | €911,977 | +€682,053 | +297% |
| Deferred charges and accrued income | 490/1 | €144,979 | €179,987 | +€35,008 | +24.1% |
| Total equity and liabilities | 10/49 | €5,584,454 | €6,518,934 | +€934,480 | +16.7% |
| Equity | 10/15 | €3,819,344 | €4,494,055 | +€674,711 | +17.7% |
| Contributions | 10/11 | €11,508 | €11,508 | = | 0.0% |
| Reserves | 13 | €3,807,836 | €4,482,547 | +€674,711 | +17.7% |
| Tax-exempt reserves | 132 | €142,617 | €120,026 | -€22,591 | -15.8% |
| Distributable reserves | 133 | €3,665,219 | €4,362,521 | +€697,302 | +19.0% |
| Provisions and deferred taxes | 16 | €46,361 | €38,831 | -€7,530 | -16.2% |
| Deferred taxes | 168 | €46,361 | €38,831 | -€7,530 | -16.2% |
| Amounts payable | 17/49 | €1,718,749 | €1,986,048 | +€267,299 | +15.6% |
| Amounts payable within one year | 42/48 | €1,708,749 | €1,976,048 | +€267,299 | +15.6% |
| Trade debts | 44 | €1,461,280 | €1,609,526 | +€148,247 | +10.1% |
| Suppliers | 440/4 | €1,461,280 | €1,609,526 | +€148,247 | +10.1% |
| Taxes, remuneration and social security | 45 | €247,469 | €366,522 | +€119,053 | +48.1% |
| Taxes | 450/3 | €95,758 | €197,734 | +€101,976 | +106% |
| Remuneration and social security | 454/9 | €151,712 | €168,788 | +€17,077 | +11.3% |
| Accrued charges and deferred income | 492/3 | €10,000 | €10,000 | = | 0.0% |
| Non-recurring operating income | 76A | €55,315 | - | -€55,315 | |
| Remuneration, social security and pensions | 62 | €2,097,283 | €2,140,972 | +€43,689 | +2.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €190,598 | €181,666 | -€8,931 | -4.7% |
| Other operating charges | 640/8 | €34,375 | €32,587 | -€1,788 | -5.2% |
| Gross operating margin | 9900 | €3,011,618 | €3,253,411 | +€241,793 | +8.0% |
| Operating profit (loss) | 9901 | €689,362 | €898,185 | +€208,823 | +30.3% |
| Financial income | 75/76B | €49,025 | €37,764 | -€11,261 | -23.0% |
| Recurring financial income | 75 | €40,525 | €37,764 | -€2,761 | -6.8% |
| Non-recurring financial income | 76B | €8,500 | - | -€8,500 | |
| Financial charges | 65/66B | €3,832 | €3,859 | +€27 | +0.7% |
| Recurring financial charges | 65 | €3,832 | €3,859 | +€27 | +0.7% |
| Profit (loss) for the period before taxes | 9903 | €734,555 | €932,091 | +€197,536 | +26.9% |
| Transfer from deferred taxes | 780 | €7,530 | €7,530 | = | 0.0% |
| Income taxes | 67/77 | €212,491 | €264,910 | +€52,419 | +24.7% |
| Profit (loss) for the period | 9904 | €529,594 | €674,711 | +€145,117 | +27.4% |
| Transfer from tax-exempt reserves | 789 | €22,591 | €22,591 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €552,185 | €697,302 | +€145,117 | +26.3% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.