TRUE BUILDING: 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.
TRUE BUILDING
Largest movements
- Receivables within one year -€155,832
down €155,832 (-42.4%), from €367,798 to €211,966
of which Trade receivables: -€195,367
- Tangible fixed assets -€16,658
down €16,658 (-4.3%), from €388,587 to €371,929
of which Furniture and vehicles: -€15,899
- Trade debts -€97,152
down €97,152 (-93.2%), from €104,186 to €7,034
- Short-term financial debts -€49,818
down €49,818 (-100%), from €49,818 to €0
- Other debts -€32,286
down €32,286 (-100%), from €32,286 to €0
- Current portion of long-term debt +€13,334
up €13,334 (+34.4%), from €38,739 to €52,074
- Tax, wage and social debts -€10,092
down €10,092 (-68.5%), from €14,729 to €4,636
of which Taxes: -€10,092
- Gross operating margin -€57,438
down €57,438 (-57.1%), from €100,611 to €43,173
- Staff costs -€32,248
down €32,248 (-100%), from €32,248 to €0
- Other operating charges -€7,712
down €7,712 (-98.5%), from €7,829 to €118
- Taxes -€7,524
down €7,524 (-82.7%), from €9,096 to €1,573
- Financial charges +€2,862
up €2,862 (+20.9%), from €13,686 to €16,549
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 | €765,823 | €592,223 | -€173,599 | -22.7% |
| Fixed assets | 21/28 | €390,762 | €374,104 | -€16,658 | -4.3% |
| Tangible fixed assets | 22/27 | €388,587 | €371,929 | -€16,658 | -4.3% |
| Land and buildings | 22 | €331,009 | €330,843 | -€167 | -0.1% |
| Plant, machinery and equipment | 23 | €1,351 | €760 | -€592 | -43.8% |
| Furniture and vehicles | 24 | €56,227 | €40,327 | -€15,899 | -28.3% |
| Financial fixed assets | 28 | €2,175 | €2,175 | = | 0.0% |
| Current assets | 29/58 | €375,060 | €218,119 | -€156,941 | -41.8% |
| Amounts receivable within one year | 40/41 | €367,798 | €211,966 | -€155,832 | -42.4% |
| Trade receivables | 40 | €248,038 | €52,671 | -€195,367 | -78.8% |
| Other amounts receivable | 41 | €119,760 | €159,295 | +€39,535 | +33.0% |
| Cash at bank and in hand | 54/58 | - | €56 | +€56 | |
| Deferred charges and accrued income | 490/1 | €7,262 | €6,097 | -€1,165 | -16.0% |
| Total equity and liabilities | 10/49 | €765,823 | €592,223 | -€173,599 | -22.7% |
| Equity | 10/15 | €189,572 | €192,270 | +€2,698 | +1.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €3,150 | €3,150 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,290 | €1,290 | = | 0.0% |
| Profit (loss) carried forward | 14 | €180,222 | €182,920 | +€2,698 | +1.5% |
| Amounts payable | 17/49 | €576,250 | €399,953 | -€176,297 | -30.6% |
| Amounts payable after more than one year | 17 | €334,453 | €328,538 | -€5,915 | -1.8% |
| Financial debts | 170/4 | €334,453 | €328,538 | -€5,915 | -1.8% |
| Amounts payable within one year | 42/48 | €239,759 | €63,744 | -€176,015 | -73.4% |
| Current portion of amounts payable after more than one year | 42 | €38,739 | €52,074 | +€13,334 | +34.4% |
| Financial debts | 43 | €49,818 | €0 | -€49,818 | -100% |
| Credit institutions | 430/8 | €49,818 | €0 | -€49,818 | -100% |
| Trade debts | 44 | €104,186 | €7,034 | -€97,152 | -93.2% |
| Suppliers | 440/4 | €104,186 | €7,034 | -€97,152 | -93.2% |
| Taxes, remuneration and social security | 45 | €14,729 | €4,636 | -€10,092 | -68.5% |
| Taxes | 450/3 | €14,729 | €4,636 | -€10,092 | -68.5% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €32,286 | €0 | -€32,286 | -100% |
| Accrued charges and deferred income | 492/3 | €2,039 | €7,672 | +€5,633 | +276% |
| Remuneration, social security and pensions | 62 | €32,248 | €0 | -€32,248 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,195 | €28,337 | +€142 | +0.5% |
| Other operating charges | 640/8 | €7,829 | €118 | -€7,712 | -98.5% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €100,611 | €43,173 | -€57,438 | -57.1% |
| Operating profit (loss) | 9901 | €32,338 | €14,718 | -€17,620 | -54.5% |
| Financial income | 75/76B | €7,285 | €6,101 | -€1,184 | -16.3% |
| Recurring financial income | 75 | €7,285 | €6,101 | -€1,184 | -16.3% |
| Financial charges | 65/66B | €13,686 | €16,549 | +€2,862 | +20.9% |
| Recurring financial charges | 65 | €13,686 | €16,549 | +€2,862 | +20.9% |
| Profit (loss) for the period before taxes | 9903 | €25,936 | €4,270 | -€21,666 | -83.5% |
| Income taxes | 67/77 | €9,096 | €1,573 | -€7,524 | -82.7% |
| Profit (loss) for the period | 9904 | €16,840 | €2,698 | -€14,142 | -84.0% |
| Profit (loss) for the period to be appropriated | 9905 | €16,840 | €2,698 | -€14,142 | -84.0% |
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 18 October 2026 via checked.be.