Trust1Team: 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.
Trust1Team
Largest movements
- Receivables within one year -€227,102
down €227,102 (-85.5%), from €265,727 to €38,624
of which Other amounts receivable: -€207,823
- Intangible fixed assets +€158,234
up €158,234 (+75.8%), from €208,662 to €366,896
- Cash +€8,689
up €8,689 (+11.5%), from €75,503 to €84,192
mainly Receivables within one year (+€227,102) and Depreciation (+€55,284)
- Reserves -€19,660
down €19,660 (-21.9%), from €89,835 to €70,176
of which Distributable reserves: -€19,660
- Other debts -€16,550
down €16,550 (-100%), from €16,550 to €0
- Trade debts -€14,522
down €14,522 (-20.3%), from €71,487 to €56,965
- Accrued charges and deferred income -€13,876
down €13,876 (-7.2%), from €193,141 to €179,265
- Gross operating margin +€84,108
up €84,108 (+76.5%), from €110,005 to €194,113
- Financial charges -€46,178
down €46,178 (-81.9%), from €56,405 to €10,227
- Depreciation +€12,344
up €12,344 (+28.7%), from €42,940 to €55,284
- Other operating charges +€3,092
up €3,092 (+403%), from €767 to €3,859
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 | €572,060 | €505,918 | -€66,142 | -11.6% |
| Fixed assets | 21/28 | €225,266 | €379,189 | +€153,923 | +68.3% |
| Intangible fixed assets | 21 | €208,662 | €366,896 | +€158,234 | +75.8% |
| Tangible fixed assets | 22/27 | €16,605 | €12,293 | -€4,311 | -26.0% |
| Furniture and vehicles | 24 | €16,605 | €12,293 | -€4,311 | -26.0% |
| Current assets | 29/58 | €346,794 | €126,729 | -€220,065 | -63.5% |
| Amounts receivable within one year | 40/41 | €265,727 | €38,624 | -€227,102 | -85.5% |
| Trade receivables | 40 | €47,898 | €28,618 | -€19,279 | -40.3% |
| Other amounts receivable | 41 | €217,829 | €10,006 | -€207,823 | -95.4% |
| Cash at bank and in hand | 54/58 | €75,503 | €84,192 | +€8,689 | +11.5% |
| Deferred charges and accrued income | 490/1 | €5,564 | €3,913 | -€1,651 | -29.7% |
| Total equity and liabilities | 10/49 | €572,060 | €505,918 | -€66,142 | -11.6% |
| Equity | 10/15 | €96,035 | €76,376 | -€19,660 | -20.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €89,835 | €70,176 | -€19,660 | -21.9% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €71,085 | €51,426 | -€19,660 | -27.7% |
| Amounts payable | 17/49 | €476,025 | €429,543 | -€46,482 | -9.8% |
| Amounts payable within one year | 42/48 | €282,884 | €250,277 | -€32,607 | -11.5% |
| Financial debts | 43 | €175,000 | €175,000 | = | 0.0% |
| Credit institutions | 430/8 | €175,000 | €175,000 | = | 0.0% |
| Trade debts | 44 | €71,487 | €56,965 | -€14,522 | -20.3% |
| Suppliers | 440/4 | €71,487 | €56,965 | -€14,522 | -20.3% |
| Taxes, remuneration and social security | 45 | €19,848 | €18,313 | -€1,536 | -7.7% |
| Taxes | 450/3 | €19,848 | €18,313 | -€1,536 | -7.7% |
| Other amounts payable | 47/48 | €16,550 | €0 | -€16,550 | -100% |
| Accrued charges and deferred income | 492/3 | €193,141 | €179,265 | -€13,876 | -7.2% |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,940 | €55,284 | +€12,344 | +28.7% |
| Other operating charges | 640/8 | €767 | €3,859 | +€3,092 | +403% |
| Non-recurring operating charges | 66A | €0 | €145,281 | +€145,281 | |
| Gross operating margin | 9900 | €110,005 | €194,113 | +€84,108 | +76.5% |
| Operating profit (loss) | 9901 | €66,298 | -€10,311 | -€76,609 | |
| Financial income | 75/76B | €62 | €878 | +€816 | +1,325% |
| Recurring financial income | 75 | €62 | €878 | +€816 | +1,325% |
| Financial charges | 65/66B | €56,405 | €10,227 | -€46,178 | -81.9% |
| Recurring financial charges | 65 | €56,405 | €10,227 | -€46,178 | -81.9% |
| Profit (loss) for the period before taxes | 9903 | €9,954 | -€19,660 | -€29,614 | |
| Income taxes | 67/77 | €0 | €0 | -€0 | -100% |
| Profit (loss) for the period | 9904 | €9,954 | -€19,660 | -€29,614 | |
| Profit (loss) for the period to be appropriated | 9905 | €9,954 | -€19,660 | -€29,614 |
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 14 October 2026 via checked.be.