TROPI - FISH: 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.
TROPI - FISH
Largest movements
- Receivables within one year -€118,729
down €118,729 (-21.5%), from €552,977 to €434,248
- Cash +€85,888
up €85,888 (+95.3%), from €90,150 to €176,039
mainly Net result for the year (+€121,547) and Receivables within one year (+€118,729)
- Reserves +€121,547
up €121,547 (+15.7%), from €772,705 to €894,251
of which Distributable reserves: +€121,547
- Debts after one year -€57,500
down €57,500 (-16.7%), from €345,000 to €287,500
- Tax, wage and social debts -€38,528
down €38,528 (-41.7%), from €92,315 to €53,787
of which Taxes: -€40,935
- Current portion of long-term debt -€24,030
down €24,030 (-26.2%), from €91,668 to €67,638
- Gross operating margin +€38,871
up €38,871 (+13.5%), from €287,861 to €326,732
- Staff costs +€9,408
up €9,408 (+20.8%), from €45,207 to €54,615
- Depreciation -€7,726
down €7,726 (-12.8%), from €60,137 to €52,411
- Financial charges +€6,696
up €6,696 (+16.8%), from €39,851 to €46,547
- Taxes +€5,808
up €5,808 (+15.5%), from €37,500 to €43,308
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 | €1,682,872 | €1,662,674 | -€20,198 | -1.2% |
| Formation expenses | 20 | €928 | €464 | -€464 | -50.0% |
| Fixed assets | 21/28 | €899,323 | €915,208 | +€15,884 | +1.8% |
| Tangible fixed assets | 22/27 | €899,323 | €915,208 | +€15,884 | +1.8% |
| Land and buildings | 22 | €127,359 | €126,911 | -€449 | -0.4% |
| Plant, machinery and equipment | 23 | €69,305 | €44,925 | -€24,379 | -35.2% |
| Furniture and vehicles | 24 | - | €36,950 | +€36,950 | |
| Other tangible fixed assets | 26 | €702,659 | €706,421 | +€3,762 | +0.5% |
| Current assets | 29/58 | €782,621 | €747,003 | -€35,618 | -4.6% |
| Stocks and contracts in progress | 3 | €135,247 | €131,991 | -€3,256 | -2.4% |
| Stocks | 30/36 | €135,247 | €131,991 | -€3,256 | -2.4% |
| Amounts receivable within one year | 40/41 | €552,977 | €434,248 | -€118,729 | -21.5% |
| Trade receivables | 40 | €552,977 | €434,248 | -€118,729 | -21.5% |
| Current investments | 50/53 | €318 | €318 | -€0 | 0.0% |
| Cash at bank and in hand | 54/58 | €90,150 | €176,039 | +€85,888 | +95.3% |
| Deferred charges and accrued income | 490/1 | €3,928 | €4,407 | +€479 | +12.2% |
| Total equity and liabilities | 10/49 | €1,682,872 | €1,662,674 | -€20,198 | -1.2% |
| Equity | 10/15 | €1,059,705 | €1,181,251 | +€121,547 | +11.5% |
| Contributions | 10/11 | €287,000 | €287,000 | = | 0.0% |
| Capital | 10 | €287,000 | €287,000 | = | 0.0% |
| Issued capital | 100 | €287,000 | €287,000 | = | 0.0% |
| Reserves | 13 | €772,705 | €894,251 | +€121,547 | +15.7% |
| Non-distributable reserves | 130/1 | €28,700 | €28,700 | = | 0.0% |
| Legal reserve | 130 | €28,700 | €28,700 | = | 0.0% |
| Distributable reserves | 133 | €744,005 | €865,551 | +€121,547 | +16.3% |
| Amounts payable | 17/49 | €623,168 | €481,423 | -€141,745 | -22.7% |
| Amounts payable after more than one year | 17 | €345,000 | €287,500 | -€57,500 | -16.7% |
| Financial debts | 170/4 | €345,000 | €287,500 | -€57,500 | -16.7% |
| Amounts payable within one year | 42/48 | €278,168 | €193,923 | -€84,245 | -30.3% |
| Current portion of amounts payable after more than one year | 42 | €91,668 | €67,638 | -€24,030 | -26.2% |
| Trade debts | 44 | €19,102 | €6,255 | -€12,847 | -67.3% |
| Suppliers | 440/4 | €19,102 | €6,255 | -€12,847 | -67.3% |
| Taxes, remuneration and social security | 45 | €92,315 | €53,787 | -€38,528 | -41.7% |
| Taxes | 450/3 | €83,216 | €42,281 | -€40,935 | -49.2% |
| Remuneration and social security | 454/9 | €9,099 | €11,506 | +€2,407 | +26.4% |
| Other amounts payable | 47/48 | €75,083 | €66,244 | -€8,839 | -11.8% |
| Remuneration, social security and pensions | 62 | €45,207 | €54,615 | +€9,408 | +20.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €60,137 | €52,411 | -€7,726 | -12.8% |
| Other operating charges | 640/8 | €7,990 | €8,305 | +€315 | +3.9% |
| Gross operating margin | 9900 | €287,861 | €326,732 | +€38,871 | +13.5% |
| Operating profit (loss) | 9901 | €174,527 | €211,401 | +€36,874 | +21.1% |
| Financial income | 75/76B | €46 | - | -€46 | |
| Recurring financial income | 75 | €46 | - | -€46 | |
| Financial charges | 65/66B | €39,851 | €46,547 | +€6,696 | +16.8% |
| Recurring financial charges | 65 | €39,851 | €46,547 | +€6,696 | +16.8% |
| Profit (loss) for the period before taxes | 9903 | €134,722 | €164,854 | +€30,132 | +22.4% |
| Income taxes | 67/77 | €37,500 | €43,308 | +€5,808 | +15.5% |
| Profit (loss) for the period | 9904 | €97,222 | €121,547 | +€24,324 | +25.0% |
| Profit (loss) for the period to be appropriated | 9905 | €97,222 | €121,547 | +€24,324 | +25.0% |
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 27 October 2026 via checked.be.