TRUST CONSULT: 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 CONSULT
Largest movements
- Stocks and contracts -€1.6m
down €1.6m (-41.8%), from €3.8m to €2.2m
- Cash -€46,700
down €46,700 (-86.7%), from €53,866 to €7,166
mainly Debts after one year (-€2.4m) and Trade debts (-€27,475)
- Debts after one year -€2.4m
down €2.4m (-71.5%), from €3.3m to €948,470
of which Financial debts: -€2.4m
- Profit (loss) carried forward +€388,220
up €388,220 (+3381.2%), from €11,482 to €399,702
- Other debts +€245,817
up €245,817 (+57.3%), from €429,136 to €674,953
- Tax, wage and social debts +€118,755
up €118,755 (+527.4%), from €22,516 to €141,271
of which Taxes: +€133,099
- Gross operating margin +€350,658
up €350,658 (+100.3%), from €349,759 to €700,417
- Taxes +€127,041
up €127,041 (+895.1%), from €14,193 to €141,234
- Financial charges -€57,656
down €57,656 (-30.3%), from €190,194 to €132,538
- Staff costs -€36,388
down €36,388 (-67.6%), from €53,849 to €17,460
- Financial income -€7,822
down €7,822 (-99.9%), from €7,830 to €8
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.
Cash bridge derived
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 | €3,860,702 | €2,212,161 | -€1.6m | -42.7% |
| Fixed assets | 21/28 | €23,763 | €19,528 | -€4,236 | -17.8% |
| Tangible fixed assets | 22/27 | €23,703 | €19,528 | -€4,176 | -17.6% |
| Furniture and vehicles | 24 | €4,928 | €3,981 | -€947 | -19.2% |
| Other tangible fixed assets | 26 | €18,775 | €15,546 | -€3,229 | -17.2% |
| Financial fixed assets | 28 | €60 | - | -€60 | |
| Current assets | 29/58 | €3,836,939 | €2,192,634 | -€1.6m | -42.9% |
| Stocks and contracts in progress | 3 | €3,750,371 | €2,181,557 | -€1.6m | -41.8% |
| Stocks | 30/36 | €3,750,371 | €2,181,557 | -€1.6m | -41.8% |
| Amounts receivable within one year | 40/41 | €27,929 | €2,745 | -€25,185 | -90.2% |
| Trade receivables | 40 | €1,543 | €38 | -€1,505 | -97.5% |
| Other amounts receivable | 41 | €26,386 | €2,707 | -€23,680 | -89.7% |
| Cash at bank and in hand | 54/58 | €53,866 | €7,166 | -€46,700 | -86.7% |
| Deferred charges and accrued income | 490/1 | €4,773 | €1,166 | -€3,606 | -75.6% |
| Total equity and liabilities | 10/49 | €3,860,702 | €2,212,161 | -€1.6m | -42.7% |
| Equity | 10/15 | €30,082 | €418,302 | +€388,220 | +1290.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €11,482 | €399,702 | +€388,220 | +3381.2% |
| Amounts payable | 17/49 | €3,830,620 | €1,793,859 | -€2.0m | -53.2% |
| Amounts payable after more than one year | 17 | €3,324,274 | €948,470 | -€2.4m | -71.5% |
| Financial debts | 170/4 | €3,324,000 | €948,470 | -€2.4m | -71.5% |
| Other amounts payable | 178/9 | €274 | - | -€274 | |
| Amounts payable within one year | 42/48 | €506,346 | €843,443 | +€337,097 | +66.6% |
| Trade debts | 44 | €54,694 | €27,219 | -€27,475 | -50.2% |
| Suppliers | 440/4 | €54,694 | €27,219 | -€27,475 | -50.2% |
| Taxes, remuneration and social security | 45 | €22,516 | €141,271 | +€118,755 | +527.4% |
| Taxes | 450/3 | €8,172 | €141,271 | +€133,099 | +1628.8% |
| Remuneration and social security | 454/9 | €14,345 | - | -€14,345 | |
| Other amounts payable | 47/48 | €429,136 | €674,953 | +€245,817 | +57.3% |
| Accrued charges and deferred income | 492/3 | - | €1,946 | +€1,946 | |
| Remuneration, social security and pensions | 62 | €53,849 | €17,460 | -€36,388 | -67.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,239 | €4,176 | -€2,063 | -33.1% |
| Other operating charges | 640/8 | €23,977 | €16,797 | -€7,181 | -29.9% |
| Gross operating margin | 9900 | €349,759 | €700,417 | +€350,658 | +100.3% |
| Operating profit (loss) | 9901 | €265,694 | €661,985 | +€396,291 | +149.2% |
| Financial income | 75/76B | €7,830 | €8 | -€7,822 | -99.9% |
| Recurring financial income | 75 | €7,830 | €8 | -€7,822 | -99.9% |
| Financial charges | 65/66B | €190,194 | €132,538 | -€57,656 | -30.3% |
| Recurring financial charges | 65 | €190,194 | €132,538 | -€57,656 | -30.3% |
| Profit (loss) for the period before taxes | 9903 | €83,330 | €529,454 | +€446,125 | +535.4% |
| Income taxes | 67/77 | €14,193 | €141,234 | +€127,041 | +895.1% |
| Profit (loss) for the period | 9904 | €69,137 | €388,220 | +€319,083 | +461.5% |
| Profit (loss) for the period to be appropriated | 9905 | €69,137 | €388,220 | +€319,083 | +461.5% |
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 11 October 2026 via checked.be.