TROUBLEYN: 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.
What changed
TROUBLEYN
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€64,675
2024 · €55,306+€9,369
Equity
€604,642
2024 · €539,968+€64,675
Cash
€182,645
2024 · €172,021+€10,624
Balance sheet total
€1.4m
2024 · €1.4m-€46,024
Largest movements
Assets
- Tangible fixed assets -€36,776
down €36,776 (-3.2%), from €1.2m to €1.1m
of which Land and buildings: -€36,732
- Receivables within one year -€15,210
down €15,210 (-73.3%), from €20,743 to €5,533
of which Other amounts receivable: -€9,604
Equity and liabilities
- Debts after one year -€102,466
down €102,466 (-14.5%), from €707,936 to €605,471
- Profit (loss) carried forward +€73,810
up €73,810 (+32.5%), from €227,121 to €300,931
Income statement
- Other operating charges -€7,228
down €7,228 (-35.7%), from €20,220 to €12,992
- Taxes -€3,359
down €3,359 (-12.0%), from €28,079 to €24,720
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.
Result 2024
€55,306
Gross operating margin
-€578
Depreciation
+€191
Other operating charges
+€7,228
Financial income
-€1,065
Financial charges
+€234
Taxes
+€3,359
Result 2025
€64,675
raises the resultlowers the result
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.
From operations
+€113,080
Investment
€0
Financing
-€102,456
Cash 2024
€172,021
From operations (derived)
+€113,080
Net result for the year
+€64,675
Depreciation
+€36,776
Receivables after one year
+€4,662
Receivables within one year
+€15,210
Provisions
-€3,045
Trade debts
-€3,091
Tax, wage and social debts
-€2,106
Financing
-€102,456
Debts after one year
-€102,466
Current portion of long-term debt
+€10
Cash 2025
€182,645
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,427,455 | €1,381,432 | -€46,024 | -3.2% |
| Fixed assets | 21/28 | €1,162,152 | €1,125,377 | -€36,776 | -3.2% |
| Tangible fixed assets | 22/27 | €1,162,152 | €1,125,377 | -€36,776 | -3.2% |
| Land and buildings | 22 | €1,162,109 | €1,125,377 | -€36,732 | -3.2% |
| Furniture and vehicles | 24 | €44 | €0 | -€44 | -100% |
| Current assets | 29/58 | €265,303 | €256,055 | -€9,248 | -3.5% |
| Amounts receivable after more than one year | 29 | €72,540 | €67,878 | -€4,662 | -6.4% |
| Other amounts receivable | 291 | €72,540 | €67,878 | -€4,662 | -6.4% |
| Amounts receivable within one year | 40/41 | €20,743 | €5,533 | -€15,210 | -73.3% |
| Trade receivables | 40 | €5,605 | €0 | -€5,605 | -100% |
| Other amounts receivable | 41 | €15,137 | €5,533 | -€9,604 | -63.4% |
| Cash at bank and in hand | 54/58 | €172,021 | €182,645 | +€10,624 | +6.2% |
| Total equity and liabilities | 10/49 | €1,427,455 | €1,381,432 | -€46,024 | -3.2% |
| Equity | 10/15 | €539,968 | €604,642 | +€64,675 | +12.0% |
| Contributions | 10/11 | €110,000 | €110,000 | = | 0.0% |
| Reserves | 13 | €202,847 | €193,711 | -€9,136 | -4.5% |
| Non-distributable reserves | 130/1 | €11,000 | €11,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €11,000 | €11,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €191,847 | €182,711 | -€9,136 | -4.8% |
| Profit (loss) carried forward | 14 | €227,121 | €300,931 | +€73,810 | +32.5% |
| Provisions and deferred taxes | 16 | €63,949 | €60,904 | -€3,045 | -4.8% |
| Deferred taxes | 168 | €63,949 | €60,904 | -€3,045 | -4.8% |
| Amounts payable | 17/49 | €823,539 | €715,886 | -€107,653 | -13.1% |
| Amounts payable after more than one year | 17 | €707,936 | €605,471 | -€102,466 | -14.5% |
| Financial debts | 170/4 | €707,936 | €605,471 | -€102,466 | -14.5% |
| Amounts payable within one year | 42/48 | €114,873 | €109,686 | -€5,187 | -4.5% |
| Current portion of amounts payable after more than one year | 42 | €102,456 | €102,466 | +€10 | 0.0% |
| Trade debts | 44 | €3,091 | €0 | -€3,091 | -100% |
| Suppliers | 440/4 | €3,091 | €0 | -€3,091 | -100% |
| Taxes, remuneration and social security | 45 | €9,326 | €7,220 | -€2,106 | -22.6% |
| Taxes | 450/3 | €9,326 | €7,220 | -€2,106 | -22.6% |
| Accrued charges and deferred income | 492/3 | €729 | €729 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,967 | €36,776 | -€191 | -0.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €20,220 | €12,992 | -€7,228 | -35.7% |
| Gross operating margin | 9900 | €149,034 | €148,456 | -€578 | -0.4% |
| Operating profit (loss) | 9901 | €91,847 | €98,688 | +€6,841 | +7.4% |
| Financial income | 75/76B | €2,565 | €1,500 | -€1,065 | -41.5% |
| Recurring financial income | 75 | €2,565 | €1,500 | -€1,065 | -41.5% |
| Financial charges | 65/66B | €14,073 | €13,839 | -€234 | -1.7% |
| Recurring financial charges | 65 | €14,073 | €13,839 | -€234 | -1.7% |
| Profit (loss) for the period before taxes | 9903 | €80,339 | €86,350 | +€6,010 | +7.5% |
| Transfer from deferred taxes | 780 | €3,045 | €3,045 | = | 0.0% |
| Income taxes | 67/77 | €28,079 | €24,720 | -€3,359 | -12.0% |
| Profit (loss) for the period | 9904 | €55,306 | €64,675 | +€9,369 | +16.9% |
| Transfer from tax-exempt reserves | 789 | €9,136 | €9,136 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €64,441 | €73,810 | +€9,369 | +14.5% |
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 16 October 2026 via checked.be.