TRUMP: 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.
What changed
TRUMP
NACE 52.210, Service activities incidental to land transportation
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€297,311
2024 · €21,470+€275,841
Equity
-€3.0m
2024 · -€3.3m+€297,311
Cash
€56,117
2024 · €18,367+€37,750
Balance sheet total
€10.2m
2024 · €10.6m-€318,943
Largest movements
Assets
- Tangible fixed assets -€362,991
down €362,991 (-3.7%), from €9.9m to €9.5m
Equity and liabilities
- Other debts -€600,000
down €600,000 (-4.4%), from €13.8m to €13.2m
- Profit (loss) carried forward +€297,311
up €297,311 (+8.4%), from -€3.5m to -€3.2m
Income statement
- Gross operating margin +€301,574
up €301,574 (+39.1%), from €772,081 to €1.1m
- Other operating charges +€19,963
up €19,963 (+7.8%), from €255,410 to €275,373
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.
Result 2024
€21,470
Gross operating margin
+€301,574
Depreciation
-€3,010
Other operating charges
-€19,963
Other operating items
-€3,592
Financial charges
+€832
Result 2025
€297,311
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€171,809
Investment
-€134,059
Financing
€0
Cash 2024
€18,367
From operations (derived)
+€171,809
Net result for the year
+€297,311
Depreciation
+€497,050
Deferred charges and accrued income
-€6,298
Smaller working-capital items
+€983
Other debts
-€600,000
Accrued charges and deferred income
-€17,237
Investment (derived)
-€134,059
Investment in fixed assets (net)
-€134,059
Cash 2025
€56,117
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €10,562,560 | €10,243,617 | -€318,943 | -3.0% |
| Fixed assets | 21/28 | €10,538,193 | €10,175,202 | -€362,991 | -3.4% |
| Tangible fixed assets | 22/27 | €9,894,674 | €9,531,683 | -€362,991 | -3.7% |
| Land and buildings | 22 | €9,894,674 | €9,531,683 | -€362,991 | -3.7% |
| Financial fixed assets | 28 | €643,519 | €643,519 | = | 0.0% |
| Current assets | 29/58 | €24,367 | €68,415 | +€44,048 | +181% |
| Cash at bank and in hand | 54/58 | €18,367 | €56,117 | +€37,750 | +206% |
| Deferred charges and accrued income | 490/1 | €6,000 | €12,298 | +€6,298 | +105% |
| Total equity and liabilities | 10/49 | €10,562,560 | €10,243,617 | -€318,943 | -3.0% |
| Equity | 10/15 | -€3,330,389 | -€3,033,078 | +€297,311 | +8.9% |
| Contributions | 10/11 | €185,921 | €185,921 | = | 0.0% |
| Capital | 10 | €185,921 | €185,921 | = | 0.0% |
| Issued capital | 100 | €743,681 | €743,681 | = | 0.0% |
| Uncalled capital | 101 | €557,760 | €557,760 | = | 0.0% |
| Reserves | 13 | €3,644 | €3,644 | = | 0.0% |
| Non-distributable reserves | 130/1 | €3,644 | €3,644 | = | 0.0% |
| Legal reserve | 130 | €3,644 | €3,644 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€3,519,954 | -€3,222,643 | +€297,311 | +8.4% |
| Amounts payable | 17/49 | €13,892,949 | €13,276,695 | -€616,254 | -4.4% |
| Amounts payable within one year | 42/48 | €13,765,131 | €13,166,114 | -€599,017 | -4.4% |
| Trade debts | 44 | €4,000 | €4,527 | +€527 | +13.2% |
| Suppliers | 440/4 | €4,000 | €4,527 | +€527 | +13.2% |
| Taxes, remuneration and social security | 45 | €11,131 | €11,587 | +€456 | +4.1% |
| Taxes | 450/3 | €11,131 | €11,587 | +€456 | +4.1% |
| Other amounts payable | 47/48 | €13,750,000 | €13,150,000 | -€600,000 | -4.4% |
| Accrued charges and deferred income | 492/3 | €127,818 | €110,581 | -€17,237 | -13.5% |
| Non-recurring operating income | 76A | - | €283,257 | +€283,257 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €494,040 | €497,050 | +€3,010 | +0.6% |
| Other operating charges | 640/8 | €255,410 | €275,373 | +€19,963 | +7.8% |
| Non-recurring operating charges | 66A | - | €3,592 | +€3,592 | |
| Gross operating margin | 9900 | €772,081 | €1,073,655 | +€301,574 | +39.1% |
| Operating profit (loss) | 9901 | €22,631 | €297,640 | +€275,009 | +1,215% |
| Financial charges | 65/66B | €1,161 | €329 | -€832 | -71.7% |
| Recurring financial charges | 65 | €1,161 | €329 | -€832 | -71.7% |
| Profit (loss) for the period before taxes | 9903 | €21,470 | €297,311 | +€275,841 | +1,285% |
| Profit (loss) for the period | 9904 | €21,470 | €297,311 | +€275,841 | +1,285% |
| Profit (loss) for the period to be appropriated | 9905 | €21,470 | €297,311 | +€275,841 | +1,285% |
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 28 October 2026 via checked.be.