TRST: 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.
TRST
Largest movements
- Cash -€20,520
down €20,520 (-98.3%), from €20,871 to €351
mainly Trade debts (-€29,628) and Investment in fixed assets (net) (-€27,245)
- Receivables within one year -€18,593
down €18,593 (-46.5%), from €39,965 to €21,372
of which Trade receivables: -€16,316
- Tangible fixed assets +€7,563
up €7,563 (+12.3%), from €61,410 to €68,973
of which Plant, machinery and equipment: +€6,742
- Stocks and contracts -€3,152
down €3,152 (-11.7%), from €26,985 to €23,833
- Intangible fixed assets -€3,000
down €3,000 (-20.0%), from €15,000 to €12,000
- Trade debts -€29,628
down €29,628 (-30.2%), from €98,053 to €68,425
- Other debts -€20,844
down €20,844 (-42.9%), from €48,554 to €27,710
- Tax, wage and social debts +€8,867
up €8,867 (+47.2%), from €18,779 to €27,646
- Profit (loss) carried forward +€7,636
up €7,636 (+348%), from €2,196 to €9,832
- Advances received -€3,453
no longer reported in 2025 (was €3,453)
- Staff costs +€30,498
up €30,498 (+460%), from €6,635 to €37,133
- Gross operating margin +€18,859
up €18,859 (+33.7%), from €55,923 to €74,782
- Depreciation +€10,121
up €10,121 (+80.6%), from €12,561 to €22,682
- Taxes -€1,418
down €1,418 (-44.3%), from €3,201 to €1,783
- Financial charges +€1,129
up €1,129 (+28.9%), from €3,909 to €5,038
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 | €181,385 | €141,863 | -€39,522 | -21.8% |
| Fixed assets | 21/28 | €76,675 | €81,238 | +€4,563 | +6.0% |
| Intangible fixed assets | 21 | €15,000 | €12,000 | -€3,000 | -20.0% |
| Tangible fixed assets | 22/27 | €61,410 | €68,973 | +€7,563 | +12.3% |
| Plant, machinery and equipment | 23 | €3,997 | €10,739 | +€6,742 | +169% |
| Furniture and vehicles | 24 | €21,183 | €24,026 | +€2,843 | +13.4% |
| Other tangible fixed assets | 26 | €36,230 | €34,208 | -€2,022 | -5.6% |
| Financial fixed assets | 28 | €265 | €265 | = | 0.0% |
| Current assets | 29/58 | €104,710 | €60,625 | -€44,085 | -42.1% |
| Stocks and contracts in progress | 3 | €26,985 | €23,833 | -€3,152 | -11.7% |
| Stocks | 30/36 | €26,985 | €23,833 | -€3,152 | -11.7% |
| Amounts receivable within one year | 40/41 | €39,965 | €21,372 | -€18,593 | -46.5% |
| Trade receivables | 40 | €29,083 | €12,767 | -€16,316 | -56.1% |
| Other amounts receivable | 41 | €10,882 | €8,605 | -€2,277 | -20.9% |
| Cash at bank and in hand | 54/58 | €20,871 | €351 | -€20,520 | -98.3% |
| Deferred charges and accrued income | 490/1 | €16,889 | €15,069 | -€1,820 | -10.8% |
| Total equity and liabilities | 10/49 | €181,385 | €141,863 | -€39,522 | -21.8% |
| Equity | 10/15 | €10,446 | €18,082 | +€7,636 | +73.1% |
| Contributions | 10/11 | €7,500 | €7,500 | = | 0.0% |
| Reserves | 13 | €750 | €750 | = | 0.0% |
| Non-distributable reserves | 130/1 | €750 | €750 | = | 0.0% |
| Reserves not available under the articles | 1311 | €750 | €750 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,196 | €9,832 | +€7,636 | +348% |
| Amounts payable | 17/49 | €170,939 | €123,781 | -€47,158 | -27.6% |
| Amounts payable within one year | 42/48 | €170,939 | €123,781 | -€47,158 | -27.6% |
| Current portion of amounts payable after more than one year | 42 | €2,100 | - | -€2,100 | |
| Trade debts | 44 | €98,053 | €68,425 | -€29,628 | -30.2% |
| Suppliers | 440/4 | €98,053 | €68,425 | -€29,628 | -30.2% |
| Advances received on contracts in progress | 46 | €3,453 | - | -€3,453 | |
| Taxes, remuneration and social security | 45 | €18,779 | €27,646 | +€8,867 | +47.2% |
| Taxes | 450/3 | €18,779 | €27,646 | +€8,867 | +47.2% |
| Other amounts payable | 47/48 | €48,554 | €27,710 | -€20,844 | -42.9% |
| Remuneration, social security and pensions | 62 | €6,635 | €37,133 | +€30,498 | +460% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,561 | €22,682 | +€10,121 | +80.6% |
| Other operating charges | 640/8 | €494 | €1,323 | +€829 | +168% |
| Gross operating margin | 9900 | €55,923 | €74,782 | +€18,859 | +33.7% |
| Operating profit (loss) | 9901 | €36,233 | €13,644 | -€22,589 | -62.3% |
| Financial income | 75/76B | - | €813 | +€813 | |
| Recurring financial income | 75 | - | €813 | +€813 | |
| Financial charges | 65/66B | €3,909 | €5,038 | +€1,129 | +28.9% |
| Recurring financial charges | 65 | €3,909 | €5,038 | +€1,129 | +28.9% |
| Profit (loss) for the period before taxes | 9903 | €32,324 | €9,419 | -€22,905 | -70.9% |
| Income taxes | 67/77 | €3,201 | €1,783 | -€1,418 | -44.3% |
| Profit (loss) for the period | 9904 | €29,123 | €7,636 | -€21,487 | -73.8% |
| Profit (loss) for the period to be appropriated | 9905 | €29,123 | €7,636 | -€21,487 | -73.8% |
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 28 October 2026 via checked.be.