TRUST SYNDIC: 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 SYNDIC
Largest movements
- Receivables within one year +€23,762
up €23,762 (+1,745%), from €1,361 to €25,123
of which Trade receivables: +€22,186
- Tangible fixed assets +€2,062
new in 2025: €2,062
- Cash -€1,068
down €1,068 (-26.8%), from €3,990 to €2,922
mainly Receivables within one year (-€23,762) and Investment in fixed assets (net) (-€2,396)
- Profit (loss) carried forward +€13,785
up €13,785, from -€6,591 to €7,194
- Advances received +€10,611
new in 2025: €10,611
- Trade debts +€2,985
up €2,985 (+104%), from €2,881 to €5,866
- Other debts -€2,225
down €2,225 (-95.8%), from €2,322 to €97
- Gross operating margin +€46,647
up €46,647, from -€2,230 to €44,417
- Staff costs +€25,519
up €25,519 (+977%), from €2,611 to €28,130
- Taxes +€1,960
new in 2025: €1,960
- Depreciation -€1,416
down €1,416 (-80.9%), from €1,750 to €334
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 | €5,424 | €30,289 | +€24,865 | +458% |
| Fixed assets | 21/28 | - | €2,062 | +€2,062 | |
| Tangible fixed assets | 22/27 | - | €2,062 | +€2,062 | |
| Furniture and vehicles | 24 | - | €2,062 | +€2,062 | |
| Current assets | 29/58 | €5,424 | €28,227 | +€22,803 | +420% |
| Amounts receivable within one year | 40/41 | €1,361 | €25,123 | +€23,762 | +1,745% |
| Trade receivables | 40 | €1,361 | €23,547 | +€22,186 | +1,630% |
| Other amounts receivable | 41 | - | €1,576 | +€1,576 | |
| Cash at bank and in hand | 54/58 | €3,990 | €2,922 | -€1,068 | -26.8% |
| Deferred charges and accrued income | 490/1 | €72 | €182 | +€110 | +152% |
| Total equity and liabilities | 10/49 | €5,424 | €30,289 | +€24,865 | +458% |
| Equity | 10/15 | -€4,091 | €9,694 | +€13,785 | |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€6,591 | €7,194 | +€13,785 | |
| Amounts payable | 17/49 | €9,515 | €20,595 | +€11,080 | +116% |
| Amounts payable within one year | 42/48 | €9,515 | €20,595 | +€11,080 | +116% |
| Trade debts | 44 | €2,881 | €5,866 | +€2,985 | +104% |
| Suppliers | 440/4 | €2,881 | €5,866 | +€2,985 | +104% |
| Advances received on contracts in progress | 46 | - | €10,611 | +€10,611 | |
| Taxes, remuneration and social security | 45 | €4,312 | €4,021 | -€291 | -6.7% |
| Taxes | 450/3 | €251 | €2,636 | +€2,385 | +950% |
| Remuneration and social security | 454/9 | €4,061 | €1,385 | -€2,676 | -65.9% |
| Other amounts payable | 47/48 | €2,322 | €97 | -€2,225 | -95.8% |
| Remuneration, social security and pensions | 62 | €2,611 | €28,130 | +€25,519 | +977% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,750 | €334 | -€1,416 | -80.9% |
| Gross operating margin | 9900 | -€2,230 | €44,417 | +€46,647 | |
| Operating profit (loss) | 9901 | -€6,591 | €15,953 | +€22,544 | |
| Financial income | 75/76B | - | €70 | +€70 | |
| Recurring financial income | 75 | - | €70 | +€70 | |
| Financial charges | 65/66B | - | €278 | +€278 | |
| Recurring financial charges | 65 | - | €278 | +€278 | |
| Profit (loss) for the period before taxes | 9903 | -€6,591 | €15,745 | +€22,336 | |
| Income taxes | 67/77 | - | €1,960 | +€1,960 | |
| Profit (loss) for the period | 9904 | -€6,591 | €13,785 | +€20,376 | |
| Profit (loss) for the period to be appropriated | 9905 | -€6,591 | €13,785 | +€20,376 |
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 13 October 2026 via checked.be.