True Digital: 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 Digital
Largest movements
- Current investments +€50,000
new in 2025: €50,000
- Intangible fixed assets -€15,634
down €15,634 (-18.1%), from €86,210 to €70,576
- Cash -€9,611
down €9,611 (-8.1%), from €118,533 to €108,922
mainly Current investments (-€50,000) and Trade debts (-€25,468)
- Receivables within one year -€8,945
down €8,945 (-10.9%), from €82,229 to €73,284
of which Trade receivables: -€15,434
- Tangible fixed assets -€8,856
down €8,856 (-33.2%), from €26,700 to €17,844
of which Plant, machinery and equipment: -€7,708
- Tax, wage and social debts +€25,600
up €25,600 (+35.4%), from €72,284 to €97,884
of which Remuneration and social security: +€26,894
- Trade debts -€25,468
down €25,468 (-62.0%), from €41,063 to €15,595
- Reserves +€13,165
up €13,165 (+8.2%), from €159,922 to €173,087
- Short-term financial debts -€6,644
down €6,644 (-29.5%), from €22,531 to €15,887
- Staff costs +€28,228
up €28,228 (+12.5%), from €224,947 to €253,175
- Other operating charges -€19,410
no longer reported in 2025 (was €19,410)
- Gross operating margin +€13,341
up €13,341 (+4.7%), from €283,740 to €297,080
- Financial income +€5,732
up €5,732 (+206%), from €2,784 to €8,517
of which Non-recurring financial income: +€4,455
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 | €313,931 | €320,625 | +€6,695 | +2.1% |
| Fixed assets | 21/28 | €112,910 | €88,420 | -€24,491 | -21.7% |
| Intangible fixed assets | 21 | €86,210 | €70,576 | -€15,634 | -18.1% |
| Tangible fixed assets | 22/27 | €26,700 | €17,844 | -€8,856 | -33.2% |
| Plant, machinery and equipment | 23 | €21,906 | €14,197 | -€7,708 | -35.2% |
| Furniture and vehicles | 24 | €4,794 | €3,646 | -€1,148 | -23.9% |
| Current assets | 29/58 | €201,020 | €232,206 | +€31,185 | +15.5% |
| Amounts receivable within one year | 40/41 | €82,229 | €73,284 | -€8,945 | -10.9% |
| Trade receivables | 40 | €82,229 | €66,794 | -€15,434 | -18.8% |
| Other amounts receivable | 41 | - | €6,489 | +€6,489 | |
| Current investments | 50/53 | - | €50,000 | +€50,000 | |
| Cash at bank and in hand | 54/58 | €118,533 | €108,922 | -€9,611 | -8.1% |
| Deferred charges and accrued income | 490/1 | €259 | - | -€259 | |
| Total equity and liabilities | 10/49 | €313,931 | €320,625 | +€6,695 | +2.1% |
| Equity | 10/15 | €177,922 | €191,087 | +€13,165 | +7.4% |
| Contributions | 10/11 | €18,000 | €18,000 | = | 0.0% |
| Reserves | 13 | €159,922 | €173,087 | +€13,165 | +8.2% |
| Distributable reserves | 133 | €159,922 | €173,087 | +€13,165 | +8.2% |
| Amounts payable | 17/49 | €136,009 | €129,538 | -€6,471 | -4.8% |
| Amounts payable within one year | 42/48 | €136,009 | €129,538 | -€6,471 | -4.8% |
| Financial debts | 43 | €22,531 | €15,887 | -€6,644 | -29.5% |
| Credit institutions | 430/8 | €22,531 | €15,887 | -€6,644 | -29.5% |
| Trade debts | 44 | €41,063 | €15,595 | -€25,468 | -62.0% |
| Suppliers | 440/4 | €41,063 | €15,595 | -€25,468 | -62.0% |
| Taxes, remuneration and social security | 45 | €72,284 | €97,884 | +€25,600 | +35.4% |
| Taxes | 450/3 | €47,767 | €46,473 | -€1,294 | -2.7% |
| Remuneration and social security | 454/9 | €24,517 | €51,411 | +€26,894 | +110% |
| Other amounts payable | 47/48 | €131 | €173 | +€42 | +32.4% |
| Remuneration, social security and pensions | 62 | €224,947 | €253,175 | +€28,228 | +12.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,666 | €30,400 | +€1,733 | +6.0% |
| Other operating charges | 640/8 | €19,410 | - | -€19,410 | |
| Gross operating margin | 9900 | €283,740 | €297,080 | +€13,341 | +4.7% |
| Operating profit (loss) | 9901 | €10,716 | €13,506 | +€2,790 | +26.0% |
| Financial income | 75/76B | €2,784 | €8,517 | +€5,732 | +206% |
| Recurring financial income | 75 | €2,784 | €4,062 | +€1,278 | +45.9% |
| Non-recurring financial income | 76B | - | €4,455 | +€4,455 | |
| Financial charges | 65/66B | €2,387 | €2,339 | -€48 | -2.0% |
| Recurring financial charges | 65 | €2,387 | €2,339 | -€48 | -2.0% |
| Profit (loss) for the period before taxes | 9903 | €11,114 | €19,683 | +€8,570 | +77.1% |
| Income taxes | 67/77 | €4,537 | €6,518 | +€1,981 | +43.7% |
| Profit (loss) for the period | 9904 | €6,577 | €13,165 | +€6,588 | +100% |
| Profit (loss) for the period to be appropriated | 9905 | €6,577 | €13,165 | +€6,588 | +100% |
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 13 October 2026 via checked.be.