TRUST Management: what changed
Two fiscal 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 Management
Largest movements
- Cash +€93,985
up €93,985 (+247.3%), from €38,009 to €131,994
mainly Net result for the year (+€67,920) and Other debts (+€31,674)
- Receivables within one year +€16,547
up €16,547 (+61.3%), from €27,000 to €43,547
of which Trade receivables: +€15,362
- Tangible fixed assets +€14,139
up €14,139 (+1069.2%), from €1,322 to €15,462
- Profit (loss) carried forward +€67,920
up €67,920 (+91.0%), from -€74,642 to -€6,722
- Other debts +€31,674
up €31,674 (+25.4%), from €124,853 to €156,526
- Trade debts +€20,806
up €20,806 (+651.1%), from €3,195 to €24,002
- Tax, wage and social debts +€3,837
up €3,837 (+33.2%), from €11,558 to €15,395
- Gross operating margin +€88,902
up €88,902, from -€11,282 to €77,620
- Depreciation +€6,510
up €6,510 (+623.8%), from €1,044 to €7,554
- Other operating charges +€784
up €784 (+192.5%), from €407 to €1,192
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 | €69,367 | €193,542 | +€124,175 | +179.0% |
| Fixed assets | 21/28 | €1,322 | €15,462 | +€14,139 | +1069.2% |
| Tangible fixed assets | 22/27 | €1,322 | €15,462 | +€14,139 | +1069.2% |
| Furniture and vehicles | 24 | €1,322 | €15,462 | +€14,139 | +1069.2% |
| Current assets | 29/58 | €68,045 | €178,080 | +€110,036 | +161.7% |
| Amounts receivable within one year | 40/41 | €27,000 | €43,547 | +€16,547 | +61.3% |
| Trade receivables | 40 | €27,000 | €42,362 | +€15,362 | +56.9% |
| Other amounts receivable | 41 | €0 | €1,185 | +€1,185 | |
| Current investments | 50/53 | €1,300 | €1,300 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €38,009 | €131,994 | +€93,985 | +247.3% |
| Deferred charges and accrued income | 490/1 | €1,736 | €1,240 | -€496 | -28.6% |
| Total equity and liabilities | 10/49 | €69,367 | €193,542 | +€124,175 | +179.0% |
| Equity | 10/15 | -€71,642 | -€3,722 | +€67,920 | +94.8% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€74,642 | -€6,722 | +€67,920 | +91.0% |
| Amounts payable | 17/49 | €141,009 | €197,263 | +€56,255 | +39.9% |
| Amounts payable within one year | 42/48 | €140,399 | €196,638 | +€56,240 | +40.1% |
| Financial debts | 43 | €793 | €716 | -€77 | -9.7% |
| Credit institutions | 430/8 | €793 | €716 | -€77 | -9.7% |
| Trade debts | 44 | €3,195 | €24,002 | +€20,806 | +651.1% |
| Suppliers | 440/4 | €3,195 | €24,002 | +€20,806 | +651.1% |
| Taxes, remuneration and social security | 45 | €11,558 | €15,395 | +€3,837 | +33.2% |
| Taxes | 450/3 | €11,558 | €15,395 | +€3,837 | +33.2% |
| Other amounts payable | 47/48 | €124,853 | €156,526 | +€31,674 | +25.4% |
| Accrued charges and deferred income | 492/3 | €610 | €625 | +€15 | +2.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,044 | €7,554 | +€6,510 | +623.8% |
| Other operating charges | 640/8 | €407 | €1,192 | +€784 | +192.5% |
| Non-recurring operating charges | 66A | - | €63 | +€63 | |
| Gross operating margin | 9900 | -€11,282 | €77,620 | +€88,902 | |
| Operating profit (loss) | 9901 | -€12,733 | €68,811 | +€81,544 | |
| Financial income | 75/76B | €195 | €52 | -€143 | -73.2% |
| Recurring financial income | 75 | €195 | €52 | -€143 | -73.2% |
| Financial charges | 65/66B | €1,333 | €647 | -€687 | -51.5% |
| Recurring financial charges | 65 | €1,333 | €647 | -€687 | -51.5% |
| Profit (loss) for the period before taxes | 9903 | -€13,871 | €68,216 | +€82,088 | |
| Income taxes | 67/77 | €331 | €296 | -€34 | -10.4% |
| Profit (loss) for the period | 9904 | -€14,202 | €67,920 | +€82,122 | |
| Profit (loss) for the period to be appropriated | 9905 | -€14,202 | €67,920 | +€82,122 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.