TRR: 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.
TRR
Largest movements
- Current investments +€41,250
new in 2025: €41,250
- Cash +€19,477
up €19,477 (+12.1%), from €160,876 to €180,353
mainly Net result for the year (+€62,750) and Receivables within one year (+€7,445)
- Receivables within one year -€7,445
down €7,445 (-20.4%), from €36,452 to €29,007
of which Trade receivables: -€7,841
- Reserves +€126,453
up €126,453 (+149.0%), from €84,860 to €211,313
of which Distributable reserves: +€128,313
- Profit (loss) carried forward -€63,703
no longer reported in 2025 (was €63,703)
- Tax, wage and social debts -€10,057
down €10,057 (-71.4%), from €14,088 to €4,030
- Gross operating margin -€31,916
down €31,916 (-25.7%), from €124,014 to €92,097
- Taxes -€9,388
down €9,388 (-24.4%), from €38,465 to €29,077
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.
Cash bridge derived
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 | €197,484 | €250,681 | +€53,197 | +26.9% |
| Fixed assets | 21/28 | €156 | €70 | -€86 | -54.9% |
| Tangible fixed assets | 22/27 | €156 | €70 | -€86 | -54.9% |
| Plant, machinery and equipment | 23 | €156 | €70 | -€86 | -54.9% |
| Current assets | 29/58 | €197,328 | €250,610 | +€53,283 | +27.0% |
| Amounts receivable within one year | 40/41 | €36,452 | €29,007 | -€7,445 | -20.4% |
| Trade receivables | 40 | €30,251 | €22,410 | -€7,841 | -25.9% |
| Other amounts receivable | 41 | €6,200 | €6,597 | +€397 | +6.4% |
| Current investments | 50/53 | - | €41,250 | +€41,250 | |
| Cash at bank and in hand | 54/58 | €160,876 | €180,353 | +€19,477 | +12.1% |
| Total equity and liabilities | 10/49 | €197,484 | €250,681 | +€53,197 | +26.9% |
| Equity | 10/15 | €167,163 | €229,913 | +€62,750 | +37.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €84,860 | €211,313 | +€126,453 | +149.0% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | €1,860 | - | -€1,860 | |
| Distributable reserves | 133 | €83,000 | €211,313 | +€128,313 | +154.6% |
| Profit (loss) carried forward | 14 | €63,703 | - | -€63,703 | |
| Amounts payable | 17/49 | €30,321 | €20,768 | -€9,554 | -31.5% |
| Amounts payable within one year | 42/48 | €30,321 | €20,768 | -€9,554 | -31.5% |
| Trade debts | 44 | €8,690 | €8,864 | +€174 | +2.0% |
| Suppliers | 440/4 | €8,690 | €8,864 | +€174 | +2.0% |
| Taxes, remuneration and social security | 45 | €14,088 | €4,030 | -€10,057 | -71.4% |
| Taxes | 450/3 | €14,088 | €4,030 | -€10,057 | -71.4% |
| Other amounts payable | 47/48 | €7,544 | €7,873 | +€330 | +4.4% |
| Remuneration, social security and pensions | 62 | €123 | - | -€123 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €371 | €86 | -€286 | -76.9% |
| Other operating charges | 640/8 | €387 | €622 | +€235 | +60.5% |
| Gross operating margin | 9900 | €124,014 | €92,097 | -€31,916 | -25.7% |
| Operating profit (loss) | 9901 | €123,132 | €91,389 | -€31,742 | -25.8% |
| Financial income | 75/76B | - | €501 | +€501 | |
| Recurring financial income | 75 | - | €501 | +€501 | |
| Financial charges | 65/66B | €62 | €63 | +€1 | +1.2% |
| Recurring financial charges | 65 | €62 | €63 | +€1 | +1.2% |
| Profit (loss) for the period before taxes | 9903 | €123,069 | €91,828 | -€31,242 | -25.4% |
| Income taxes | 67/77 | €38,465 | €29,077 | -€9,388 | -24.4% |
| Profit (loss) for the period | 9904 | €84,604 | €62,750 | -€21,854 | -25.8% |
| Profit (loss) for the period to be appropriated | 9905 | €84,604 | €62,750 | -€21,854 | -25.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.