TRUDO: 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.
TRUDO
Largest movements
- Tangible fixed assets -€45,707
down €45,707 (-5.6%), from €812,478 to €766,771
of which Land and buildings: -€37,519
- Debts after one year -€63,765
down €63,765 (-13.8%), from €462,016 to €398,251
- Profit (loss) carried forward +€29,686
up €29,686, from -€8,464 to €21,222
- Other debts -€17,180
down €17,180 (-10.7%), from €161,300 to €144,120
- Other operating charges +€1,686
up €1,686 (+19.9%), from €8,462 to €10,148
- Depreciation -€1,408
down €1,408 (-3.0%), from €47,115 to €45,707
- Gross operating margin +€1,053
up €1,053 (+1.1%), from €96,915 to €97,968
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €821,666 | €772,403 | -€49,262 | -6.0% |
| Fixed assets | 21/28 | €812,728 | €767,021 | -€45,707 | -5.6% |
| Tangible fixed assets | 22/27 | €812,478 | €766,771 | -€45,707 | -5.6% |
| Land and buildings | 22 | €774,229 | €736,710 | -€37,519 | -4.8% |
| Furniture and vehicles | 24 | €2,051 | €1,024 | -€1,026 | -50.1% |
| Other tangible fixed assets | 26 | €36,198 | €29,037 | -€7,161 | -19.8% |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €8,938 | €5,382 | -€3,556 | -39.8% |
| Amounts receivable within one year | 40/41 | €575 | €548 | -€26 | -4.6% |
| Other amounts receivable | 41 | €575 | €548 | -€26 | -4.6% |
| Cash at bank and in hand | 54/58 | €5,852 | €2,550 | -€3,301 | -56.4% |
| Deferred charges and accrued income | 490/1 | €2,512 | €2,284 | -€228 | -9.1% |
| Total equity and liabilities | 10/49 | €821,666 | €772,403 | -€49,262 | -6.0% |
| Equity | 10/15 | €114,136 | €143,822 | +€29,686 | +26.0% |
| Contributions | 10/11 | €66,000 | €66,000 | = | 0.0% |
| Capital | 10 | €66,000 | €66,000 | = | 0.0% |
| Issued capital | 100 | €66,000 | €66,000 | = | 0.0% |
| Reserves | 13 | €56,600 | €56,600 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,600 | €6,600 | = | 0.0% |
| Legal reserve | 130 | €6,600 | €6,600 | = | 0.0% |
| Distributable reserves | 133 | €50,000 | €50,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€8,464 | €21,222 | +€29,686 | |
| Amounts payable | 17/49 | €707,530 | €628,581 | -€78,949 | -11.2% |
| Amounts payable after more than one year | 17 | €462,016 | €398,251 | -€63,765 | -13.8% |
| Financial debts | 170/4 | €462,016 | €398,251 | -€63,765 | -13.8% |
| Amounts payable within one year | 42/48 | €244,939 | €229,730 | -€15,209 | -6.2% |
| Current portion of amounts payable after more than one year | 42 | €62,218 | €63,765 | +€1,547 | +2.5% |
| Trade debts | 44 | €21,421 | €21,845 | +€424 | +2.0% |
| Suppliers | 440/4 | €21,421 | €21,845 | +€424 | +2.0% |
| Other amounts payable | 47/48 | €161,300 | €144,120 | -€17,180 | -10.7% |
| Accrued charges and deferred income | 492/3 | €575 | €600 | +€25 | +4.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €47,115 | €45,707 | -€1,408 | -3.0% |
| Other operating charges | 640/8 | €8,462 | €10,148 | +€1,686 | +19.9% |
| Gross operating margin | 9900 | €96,915 | €97,968 | +€1,053 | +1.1% |
| Operating profit (loss) | 9901 | €41,339 | €42,114 | +€775 | +1.9% |
| Financial charges | 65/66B | €12,129 | €12,427 | +€298 | +2.5% |
| Recurring financial charges | 65 | €12,129 | €12,427 | +€298 | +2.5% |
| Profit (loss) for the period before taxes | 9903 | €29,209 | €29,686 | +€477 | +1.6% |
| Profit (loss) for the period | 9904 | €29,209 | €29,686 | +€477 | +1.6% |
| Profit (loss) for the period to be appropriated | 9905 | €29,209 | €29,686 | +€477 | +1.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 January 2025 and 31 January 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.