Trusted Capital: 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.
Trusted Capital
Largest movements
- Cash +€26,249
up €26,249 (+54.0%), from €48,634 to €74,883
mainly Net result for the year (+€114,493) and Depreciation (+€90,971)
- Debts after one year -€139,760
down €139,760 (-8.8%), from €1.6m to €1.4m
- Reserves +€114,000
up €114,000 (+28.7%), from €397,095 to €511,095
- Tax, wage and social debts +€26,586
up €26,586 (+93.1%), from €28,567 to €55,153
- Financial income -€45,996
down €45,996 (-99.8%), from €46,094 to €99
- Gross operating margin +€39,042
up €39,042 (+13.2%), from €296,012 to €335,054
- Financial charges -€24,564
down €24,564 (-25.4%), from €96,627 to €72,063
- Depreciation +€5,417
up €5,417 (+6.3%), from €85,554 to €90,971
- Taxes +€4,511
up €4,511 (+9.6%), from €47,135 to €51,646
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 | €2,330,624 | €2,352,527 | +€21,904 | +0.9% |
| Fixed assets | 21/28 | €2,277,081 | €2,273,788 | -€3,293 | -0.1% |
| Tangible fixed assets | 22/27 | €2,277,080 | €2,273,787 | -€3,293 | -0.1% |
| Land and buildings | 22 | €2,271,202 | €2,195,738 | -€75,464 | -3.3% |
| Plant, machinery and equipment | 23 | €5,654 | - | -€5,654 | |
| Furniture and vehicles | 24 | €224 | €76,566 | +€76,342 | +34014.4% |
| Assets under construction and advance payments | 27 | - | €1,483 | +€1,483 | |
| Financial fixed assets | 28 | €1 | €1 | = | 0.0% |
| Current assets | 29/58 | €53,542 | €78,740 | +€25,197 | +47.1% |
| Amounts receivable within one year | 40/41 | €1,218 | €1,054 | -€164 | -13.5% |
| Other amounts receivable | 41 | €1,218 | €1,054 | -€164 | -13.5% |
| Cash at bank and in hand | 54/58 | €48,634 | €74,883 | +€26,249 | +54.0% |
| Deferred charges and accrued income | 490/1 | €3,690 | €2,803 | -€887 | -24.0% |
| Total equity and liabilities | 10/49 | €2,330,624 | €2,352,527 | +€21,904 | +0.9% |
| Equity | 10/15 | €406,841 | €521,333 | +€114,493 | +28.1% |
| Contributions | 10/11 | €8,060 | €8,060 | = | 0.0% |
| Reserves | 13 | €397,095 | €511,095 | +€114,000 | +28.7% |
| Distributable reserves | 133 | €397,095 | €511,095 | +€114,000 | +28.7% |
| Profit (loss) carried forward | 14 | €1,686 | €2,178 | +€493 | +29.2% |
| Amounts payable | 17/49 | €1,923,783 | €1,831,194 | -€92,589 | -4.8% |
| Amounts payable after more than one year | 17 | €1,586,671 | €1,446,912 | -€139,760 | -8.8% |
| Financial debts | 170/4 | €1,586,671 | €1,446,912 | -€139,760 | -8.8% |
| Amounts payable within one year | 42/48 | €337,112 | €384,283 | +€47,171 | +14.0% |
| Current portion of amounts payable after more than one year | 42 | €186,666 | €205,071 | +€18,405 | +9.9% |
| Trade debts | 44 | €5,993 | €954 | -€5,039 | -84.1% |
| Suppliers | 440/4 | €5,993 | €954 | -€5,039 | -84.1% |
| Taxes, remuneration and social security | 45 | €28,567 | €55,153 | +€26,586 | +93.1% |
| Taxes | 450/3 | €28,567 | €55,153 | +€26,586 | +93.1% |
| Other amounts payable | 47/48 | €115,886 | €123,104 | +€7,218 | +6.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €85,554 | €90,971 | +€5,417 | +6.3% |
| Other operating charges | 640/8 | €6,906 | €5,980 | -€926 | -13.4% |
| Gross operating margin | 9900 | €296,012 | €335,054 | +€39,042 | +13.2% |
| Operating profit (loss) | 9901 | €203,552 | €238,103 | +€34,550 | +17.0% |
| Financial income | 75/76B | €46,094 | €99 | -€45,996 | -99.8% |
| Recurring financial income | 75 | €46,094 | €99 | -€45,996 | -99.8% |
| Financial charges | 65/66B | €96,627 | €72,063 | -€24,564 | -25.4% |
| Recurring financial charges | 65 | €96,627 | €72,063 | -€24,564 | -25.4% |
| Profit (loss) for the period before taxes | 9903 | €153,020 | €166,138 | +€13,119 | +8.6% |
| Income taxes | 67/77 | €47,135 | €51,646 | +€4,511 | +9.6% |
| Profit (loss) for the period | 9904 | €105,885 | €114,493 | +€8,608 | +8.1% |
| Profit (loss) for the period to be appropriated | 9905 | €105,885 | €114,493 | +€8,608 | +8.1% |
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 9 October 2026 via checked.be.