True Dev: 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 Dev
Largest movements
- Cash -€208,664
down €208,664 (-57.5%), from €362,728 to €154,064
mainly Other debts (-€146,628) and Contributions, distributions and other (-€110,000)
- Other debts -€146,628
down €146,628 (-57.1%), from €256,817 to €110,188
- Tax, wage and social debts -€39,014
down €39,014 (-54.4%), from €71,702 to €32,688
of which Taxes: -€24,014
- Profit (loss) carried forward -€26,855
down €26,855 (-79.5%), from €33,771 to €6,916
- Gross operating margin +€8,487
up €8,487 (+8.6%), from €99,072 to €107,559
- Taxes +€2,337
up €2,337 (+12.2%), from €19,160 to €21,498
- Financial charges -€1,245
down €1,245 (-54.3%), from €2,293 to €1,048
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 | €383,049 | €170,502 | -€212,548 | -55.5% |
| Fixed assets | 21/28 | €3,143 | €2,733 | -€410 | -13.0% |
| Tangible fixed assets | 22/27 | €3,143 | €2,733 | -€410 | -13.0% |
| Plant, machinery and equipment | 23 | €2,205 | €2,085 | -€120 | -5.4% |
| Furniture and vehicles | 24 | €938 | €648 | -€290 | -30.9% |
| Current assets | 29/58 | €379,907 | €167,769 | -€212,138 | -55.8% |
| Amounts receivable within one year | 40/41 | €15,885 | €13,044 | -€2,840 | -17.9% |
| Trade receivables | 40 | €9,075 | €13,044 | +€3,969 | +43.7% |
| Other amounts receivable | 41 | €6,810 | - | -€6,810 | |
| Cash at bank and in hand | 54/58 | €362,728 | €154,064 | -€208,664 | -57.5% |
| Deferred charges and accrued income | 490/1 | €1,294 | €661 | -€634 | -49.0% |
| Total equity and liabilities | 10/49 | €383,049 | €170,502 | -€212,548 | -55.5% |
| Equity | 10/15 | €54,231 | €27,376 | -€26,855 | -49.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €33,771 | €6,916 | -€26,855 | -79.5% |
| Amounts payable | 17/49 | €328,818 | €143,126 | -€185,692 | -56.5% |
| Amounts payable within one year | 42/48 | €328,818 | €143,126 | -€185,692 | -56.5% |
| Trade debts | 44 | €300 | €250 | -€50 | -16.7% |
| Suppliers | 440/4 | €300 | €250 | -€50 | -16.7% |
| Taxes, remuneration and social security | 45 | €71,702 | €32,688 | -€39,014 | -54.4% |
| Taxes | 450/3 | €56,702 | €32,688 | -€24,014 | -42.4% |
| Remuneration and social security | 454/9 | €15,000 | - | -€15,000 | |
| Other amounts payable | 47/48 | €256,817 | €110,188 | -€146,628 | -57.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,307 | €1,469 | +€161 | +12.3% |
| Other operating charges | 640/8 | €418 | €400 | -€18 | -4.4% |
| Gross operating margin | 9900 | €99,072 | €107,559 | +€8,487 | +8.6% |
| Operating profit (loss) | 9901 | €97,347 | €105,691 | +€8,344 | +8.6% |
| Financial charges | 65/66B | €2,293 | €1,048 | -€1,245 | -54.3% |
| Recurring financial charges | 65 | €2,293 | €1,048 | -€1,245 | -54.3% |
| Profit (loss) for the period before taxes | 9903 | €95,054 | €104,642 | +€9,589 | +10.1% |
| Income taxes | 67/77 | €19,160 | €21,498 | +€2,337 | +12.2% |
| Profit (loss) for the period | 9904 | €75,893 | €83,145 | +€7,252 | +9.6% |
| Profit (loss) for the period to be appropriated | 9905 | €75,893 | €83,145 | +€7,252 | +9.6% |
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 20 October 2026 via checked.be.