TRUST BIKE: what changed
TRUST BIKE
Largest movements
- Receivables within one year +€59,990
up €59,990 (+55.9%), from €107,229 to €167,219
of which Other amounts receivable: +€42,173
- Cash +€40,840
up €40,840 (+545%), from €7,497 to €48,337
mainly Net result for the year (+€52,605) and Other debts (+€44,650)
- Stocks and contracts -€22,949
down €22,949 (-5.2%), from €443,000 to €420,051
- Tangible fixed assets -€10,250
down €10,250 (-5.5%), from €186,949 to €176,699
of which Land and buildings: -€6,366
- Short-term financial debts -€49,128
down €49,128 (-16.8%), from €292,659 to €243,531
- Other debts +€44,650
up €44,650 (+2,849%), from €1,567 to €46,217
- Debts after one year +€44,100
up €44,100 (+55.4%), from €79,549 to €123,649
- Reserves +€20,000
up €20,000 (+16.3%), from €122,479 to €142,479
of which Distributable reserves: +€20,000
- Advances received +€10,547
up €10,547 (+42.4%), from €24,867 to €35,414
- Gross operating margin -€41,978
down €41,978 (-14.7%), from €284,940 to €242,962
- Staff costs +€22,178
up €22,178 (+23.8%), from €93,192 to €115,370
- Financial charges -€18,841
down €18,841 (-37.8%), from €49,863 to €31,022
- Taxes -€7,903
down €7,903 (-24.6%), from €32,144 to €24,240
- Depreciation -€6,721
down €6,721 (-26.1%), from €25,776 to €19,055
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €748,330 | €815,349 | +€67,019 | +9.0% |
| Fixed assets | 21/28 | €186,949 | €176,699 | -€10,250 | -5.5% |
| Tangible fixed assets | 22/27 | €186,949 | €176,699 | -€10,250 | -5.5% |
| Land and buildings | 22 | €180,294 | €173,928 | -€6,366 | -3.5% |
| Plant, machinery and equipment | 23 | €2,072 | €838 | -€1,234 | -59.6% |
| Furniture and vehicles | 24 | €4,583 | €1,934 | -€2,649 | -57.8% |
| Current assets | 29/58 | €561,381 | €638,650 | +€77,269 | +13.8% |
| Stocks and contracts in progress | 3 | €443,000 | €420,051 | -€22,949 | -5.2% |
| Stocks | 30/36 | €443,000 | €420,051 | -€22,949 | -5.2% |
| Amounts receivable within one year | 40/41 | €107,229 | €167,219 | +€59,990 | +55.9% |
| Trade receivables | 40 | €4,608 | €22,425 | +€17,817 | +387% |
| Other amounts receivable | 41 | €102,621 | €144,794 | +€42,173 | +41.1% |
| Cash at bank and in hand | 54/58 | €7,497 | €48,337 | +€40,840 | +545% |
| Deferred charges and accrued income | 490/1 | €3,655 | €3,042 | -€613 | -16.8% |
| Total equity and liabilities | 10/49 | €748,330 | €815,349 | +€67,019 | +9.0% |
| Equity | 10/15 | €163,331 | €180,936 | +€17,605 | +10.8% |
| Contributions | 10/11 | €36,789 | €36,789 | = | 0.0% |
| Reserves | 13 | €122,479 | €142,479 | +€20,000 | +16.3% |
| Non-distributable reserves | 130/1 | €2,479 | €2,479 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,479 | €2,479 | = | 0.0% |
| Distributable reserves | 133 | €120,000 | €140,000 | +€20,000 | +16.7% |
| Profit (loss) carried forward | 14 | €4,062 | €1,667 | -€2,395 | -59.0% |
| Amounts payable | 17/49 | €584,999 | €634,413 | +€49,414 | +8.4% |
| Amounts payable after more than one year | 17 | €79,549 | €123,649 | +€44,100 | +55.4% |
| Financial debts | 170/4 | €79,549 | €123,649 | +€44,100 | +55.4% |
| Amounts payable within one year | 42/48 | €504,750 | €504,859 | +€110 | 0.0% |
| Financial debts | 43 | €292,659 | €243,531 | -€49,128 | -16.8% |
| Credit institutions | 430/8 | €292,659 | €243,531 | -€49,128 | -16.8% |
| Trade debts | 44 | €116,096 | €111,698 | -€4,398 | -3.8% |
| Suppliers | 440/4 | €116,096 | €111,698 | -€4,398 | -3.8% |
| Advances received on contracts in progress | 46 | €24,867 | €35,414 | +€10,547 | +42.4% |
| Taxes, remuneration and social security | 45 | €69,561 | €68,000 | -€1,561 | -2.2% |
| Taxes | 450/3 | €61,137 | €58,100 | -€3,037 | -5.0% |
| Remuneration and social security | 454/9 | €8,423 | €9,899 | +€1,476 | +17.5% |
| Other amounts payable | 47/48 | €1,567 | €46,217 | +€44,650 | +2,849% |
| Accrued charges and deferred income | 492/3 | €701 | €5,905 | +€5,204 | +743% |
| Remuneration, social security and pensions | 62 | €93,192 | €115,370 | +€22,178 | +23.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,776 | €19,055 | -€6,721 | -26.1% |
| Other operating charges | 640/8 | €7,523 | €6,167 | -€1,356 | -18.0% |
| Gross operating margin | 9900 | €284,940 | €242,962 | -€41,978 | -14.7% |
| Operating profit (loss) | 9901 | €158,449 | €102,370 | -€56,079 | -35.4% |
| Financial income | 75/76B | €4,293 | €5,498 | +€1,205 | +28.1% |
| Recurring financial income | 75 | €4,293 | €5,498 | +€1,205 | +28.1% |
| Financial charges | 65/66B | €49,863 | €31,022 | -€18,841 | -37.8% |
| Recurring financial charges | 65 | €49,863 | €31,022 | -€18,841 | -37.8% |
| Profit (loss) for the period before taxes | 9903 | €112,879 | €76,845 | -€36,034 | -31.9% |
| Income taxes | 67/77 | €32,144 | €24,240 | -€7,903 | -24.6% |
| Profit (loss) for the period | 9904 | €80,736 | €52,605 | -€28,131 | -34.8% |
| Profit (loss) for the period to be appropriated | 9905 | €80,736 | €52,605 | -€28,131 | -34.8% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.