Trust Building: 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.
Trust Building
Largest movements
- Receivables within one year -€22,626
down €22,626 (-13.4%), from €169,221 to €146,595
of which Trade receivables: -€42,165
- Stocks and contracts -€7,920
down €7,920 (-26.0%), from €30,450 to €22,530
- Tangible fixed assets -€4,704
down €4,704 (-36.9%), from €12,756 to €8,052
of which Furniture and vehicles: -€3,276
- Cash -€2,940
down €2,940 (-51.7%), from €5,685 to €2,745
mainly Trade debts (-€60,458) and Short-term financial debts (-€22,500)
- Trade debts -€60,458
down €60,458 (-46.6%), from €129,784 to €69,326
- Reserves +€47,370
up €47,370 (+251%), from €18,874 to €66,244
of which Distributable reserves: +€47,370
- Short-term financial debts -€22,500
down €22,500 (-45.0%), from €50,000 to €27,500
- Gross operating margin +€119,481
up €119,481, from -€48,870 to €70,611
- Taxes +€4,667
up €4,667 (+617%), from €756 to €5,423
- Other operating charges +€2,444
up €2,444 (+90.8%), from €2,691 to €5,135
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 | €223,271 | €187,093 | -€36,178 | -16.2% |
| Fixed assets | 21/28 | €13,743 | €9,040 | -€4,704 | -34.2% |
| Tangible fixed assets | 22/27 | €12,756 | €8,052 | -€4,704 | -36.9% |
| Plant, machinery and equipment | 23 | €5,453 | €4,025 | -€1,427 | -26.2% |
| Furniture and vehicles | 24 | €7,303 | €4,027 | -€3,276 | -44.9% |
| Financial fixed assets | 28 | €988 | €988 | = | 0.0% |
| Current assets | 29/58 | €209,527 | €178,053 | -€31,474 | -15.0% |
| Stocks and contracts in progress | 3 | €30,450 | €22,530 | -€7,920 | -26.0% |
| Stocks | 30/36 | €30,450 | €22,530 | -€7,920 | -26.0% |
| Amounts receivable within one year | 40/41 | €169,221 | €146,595 | -€22,626 | -13.4% |
| Trade receivables | 40 | €163,525 | €121,360 | -€42,165 | -25.8% |
| Other amounts receivable | 41 | €5,696 | €25,234 | +€19,538 | +343% |
| Cash at bank and in hand | 54/58 | €5,685 | €2,745 | -€2,940 | -51.7% |
| Deferred charges and accrued income | 490/1 | €4,171 | €6,183 | +€2,012 | +48.2% |
| Total equity and liabilities | 10/49 | €223,271 | €187,093 | -€36,178 | -16.2% |
| Equity | 10/15 | €37,474 | €84,844 | +€47,370 | +126% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €18,874 | €66,244 | +€47,370 | +251% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €17,014 | €64,384 | +€47,370 | +278% |
| Amounts payable | 17/49 | €185,797 | €102,249 | -€83,548 | -45.0% |
| Amounts payable within one year | 42/48 | €185,797 | €102,249 | -€83,548 | -45.0% |
| Financial debts | 43 | €50,000 | €27,500 | -€22,500 | -45.0% |
| Credit institutions | 430/8 | €50,000 | €27,500 | -€22,500 | -45.0% |
| Trade debts | 44 | €129,784 | €69,326 | -€60,458 | -46.6% |
| Suppliers | 440/4 | €129,784 | €69,326 | -€60,458 | -46.6% |
| Taxes, remuneration and social security | 45 | €5,757 | €5,423 | -€334 | -5.8% |
| Taxes | 450/3 | €5,757 | €5,423 | -€334 | -5.8% |
| Other amounts payable | 47/48 | €256 | - | -€256 | |
| Non-recurring operating income | 76A | - | €7,001 | +€7,001 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,621 | €7,648 | +€27 | +0.3% |
| Other operating charges | 640/8 | €2,691 | €5,135 | +€2,444 | +90.8% |
| Gross operating margin | 9900 | -€48,870 | €70,611 | +€119,481 | |
| Operating profit (loss) | 9901 | -€59,182 | €57,828 | +€117,010 | |
| Financial charges | 65/66B | €4,541 | €5,035 | +€494 | +10.9% |
| Recurring financial charges | 65 | €4,541 | €5,035 | +€494 | +10.9% |
| Profit (loss) for the period before taxes | 9903 | -€63,723 | €52,793 | +€116,516 | |
| Income taxes | 67/77 | €756 | €5,423 | +€4,667 | +617% |
| Profit (loss) for the period | 9904 | -€64,479 | €47,370 | +€111,849 | |
| Profit (loss) for the period to be appropriated | 9905 | -€64,479 | €47,370 | +€111,849 |
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 22 October 2026 via checked.be.