TRUG: 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.
TRUG
Largest movements
- Cash +€29,477
up €29,477 (+31.2%), from €94,596 to €124,073
mainly Net result for the year (+€58,340) and Other debts (+€40,408)
- Deferred charges and accrued income +€2,687
new in 2025: €2,687
- Other debts +€40,408
up €40,408 (+55.5%), from €72,795 to €113,203
- Profit (loss) carried forward -€29,549
no longer reported in 2025 (was €29,549)
- Debts after one year +€15,000
up €15,000 (+150%), from €10,000 to €25,000
- Tax, wage and social debts +€6,677
up €6,677 (+75.1%), from €8,892 to €15,569
of which Remuneration and social security: +€10,131
- Trade debts -€2,943
down €2,943 (-15.1%), from €19,521 to €16,577
- Gross operating margin +€28,059
up €28,059 (+39.5%), from €70,981 to €99,040
- Depreciation -€12,000
down €12,000 (-38.5%), from €31,170 to €19,171
- Taxes +€6,988
up €6,988 (+91.3%), from €7,651 to €14,639
- Other operating charges +€3,579
up €3,579 (+408%), from €876 to €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 | €140,856 | €171,569 | +€30,712 | +21.8% |
| Fixed assets | 21/28 | €45,260 | €43,809 | -€1,452 | -3.2% |
| Tangible fixed assets | 22/27 | €45,260 | €43,809 | -€1,452 | -3.2% |
| Land and buildings | 22 | €5,992 | €4,552 | -€1,440 | -24.0% |
| Plant, machinery and equipment | 23 | €17,931 | €10,646 | -€7,285 | -40.6% |
| Furniture and vehicles | 24 | €8,096 | €18,729 | +€10,632 | +131% |
| Other tangible fixed assets | 26 | €13,241 | €9,882 | -€3,359 | -25.4% |
| Current assets | 29/58 | €95,596 | €127,760 | +€32,164 | +33.6% |
| Current investments | 50/53 | €1,000 | €1,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €94,596 | €124,073 | +€29,477 | +31.2% |
| Deferred charges and accrued income | 490/1 | - | €2,687 | +€2,687 | |
| Total equity and liabilities | 10/49 | €140,856 | €171,569 | +€30,712 | +21.8% |
| Equity | 10/15 | €29,649 | €100 | -€29,549 | -99.7% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Profit (loss) carried forward | 14 | €29,549 | - | -€29,549 | |
| Amounts payable | 17/49 | €111,207 | €171,469 | +€60,262 | +54.2% |
| Amounts payable after more than one year | 17 | €10,000 | €25,000 | +€15,000 | +150% |
| Financial debts | 170/4 | €10,000 | €25,000 | +€15,000 | +150% |
| Amounts payable within one year | 42/48 | €101,207 | €145,349 | +€44,142 | +43.6% |
| Trade debts | 44 | €19,521 | €16,577 | -€2,943 | -15.1% |
| Suppliers | 440/4 | €19,521 | €16,577 | -€2,943 | -15.1% |
| Taxes, remuneration and social security | 45 | €8,892 | €15,569 | +€6,677 | +75.1% |
| Taxes | 450/3 | €8,500 | €5,045 | -€3,455 | -40.6% |
| Remuneration and social security | 454/9 | €392 | €10,523 | +€10,131 | +2,585% |
| Other amounts payable | 47/48 | €72,795 | €113,203 | +€40,408 | +55.5% |
| Accrued charges and deferred income | 492/3 | - | €1,120 | +€1,120 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,170 | €19,171 | -€12,000 | -38.5% |
| Other operating charges | 640/8 | €876 | €4,455 | +€3,579 | +408% |
| Gross operating margin | 9900 | €70,981 | €99,040 | +€28,059 | +39.5% |
| Operating profit (loss) | 9901 | €38,935 | €75,414 | +€36,479 | +93.7% |
| Financial income | 75/76B | €4 | - | -€4 | |
| Recurring financial income | 75 | €4 | - | -€4 | |
| Financial charges | 65/66B | €2,396 | €2,435 | +€39 | +1.6% |
| Recurring financial charges | 65 | €2,396 | €2,435 | +€39 | +1.6% |
| Profit (loss) for the period before taxes | 9903 | €36,543 | €72,979 | +€36,436 | +99.7% |
| Income taxes | 67/77 | €7,651 | €14,639 | +€6,988 | +91.3% |
| Profit (loss) for the period | 9904 | €28,892 | €58,340 | +€29,448 | +102% |
| Profit (loss) for the period to be appropriated | 9905 | €28,892 | €58,340 | +€29,448 | +102% |
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 17 October 2026 via checked.be.