TrustForce: 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.
TrustForce
Largest movements
- Receivables within one year +€29,509
up €29,509 (+171.0%), from €17,257 to €46,765
of which Other amounts receivable: +€28,047
- Cash +€21,884
up €21,884 (+31.4%), from €69,724 to €91,608
mainly Net result for the year (+€76,103) and Depreciation (+€3,992)
- Current investments +€19,779
up €19,779 (+15.9%), from €124,258 to €144,037
- Reserves +€76,103
up €76,103 (+43.1%), from €176,708 to €252,812
- Tax, wage and social debts -€5,499
down €5,499 (-17.0%), from €32,429 to €26,930
- Gross operating margin -€16,295
down €16,295 (-14.9%), from €109,406 to €93,110
- Financial income +€7,397
up €7,397 (+2631.3%), from €281 to €7,678
- Taxes -€2,405
down €2,405 (-11.0%), from €21,940 to €19,535
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 | €217,661 | €288,139 | +€70,478 | +32.4% |
| Fixed assets | 21/28 | €6,068 | €4,401 | -€1,667 | -27.5% |
| Tangible fixed assets | 22/27 | €6,068 | €4,401 | -€1,667 | -27.5% |
| Plant, machinery and equipment | 23 | €6,068 | €4,401 | -€1,667 | -27.5% |
| Current assets | 29/58 | €211,593 | €283,738 | +€72,145 | +34.1% |
| Amounts receivable within one year | 40/41 | €17,257 | €46,765 | +€29,509 | +171.0% |
| Trade receivables | 40 | €17,257 | €18,719 | +€1,462 | +8.5% |
| Other amounts receivable | 41 | €0 | €28,047 | +€28,047 | |
| Current investments | 50/53 | €124,258 | €144,037 | +€19,779 | +15.9% |
| Cash at bank and in hand | 54/58 | €69,724 | €91,608 | +€21,884 | +31.4% |
| Deferred charges and accrued income | 490/1 | €355 | €1,327 | +€973 | +274.4% |
| Total equity and liabilities | 10/49 | €217,661 | €288,139 | +€70,478 | +32.4% |
| Equity | 10/15 | €181,708 | €257,812 | +€76,103 | +41.9% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €176,708 | €252,812 | +€76,103 | +43.1% |
| Distributable reserves | 133 | €176,708 | €252,812 | +€76,103 | +43.1% |
| Amounts payable | 17/49 | €35,953 | €30,327 | -€5,626 | -15.6% |
| Amounts payable within one year | 42/48 | €34,176 | €28,393 | -€5,783 | -16.9% |
| Trade debts | 44 | €1,658 | €1,464 | -€194 | -11.7% |
| Suppliers | 440/4 | €1,658 | €1,464 | -€194 | -11.7% |
| Taxes, remuneration and social security | 45 | €32,429 | €26,930 | -€5,499 | -17.0% |
| Taxes | 450/3 | €32,429 | €26,930 | -€5,499 | -17.0% |
| Other amounts payable | 47/48 | €89 | €0 | -€89 | -100.0% |
| Accrued charges and deferred income | 492/3 | €1,777 | €1,934 | +€157 | +8.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,018 | €3,992 | -€25 | -0.6% |
| Other operating charges | 640/8 | €475 | €756 | +€280 | +59.0% |
| Gross operating margin | 9900 | €109,406 | €93,110 | -€16,295 | -14.9% |
| Operating profit (loss) | 9901 | €104,913 | €88,363 | -€16,550 | -15.8% |
| Financial income | 75/76B | €281 | €7,678 | +€7,397 | +2631.3% |
| Recurring financial income | 75 | €281 | €7,678 | +€7,397 | +2631.3% |
| Financial charges | 65/66B | €62 | €402 | +€341 | +552.8% |
| Recurring financial charges | 65 | €62 | €402 | +€341 | +552.8% |
| Profit (loss) for the period before taxes | 9903 | €105,132 | €95,638 | -€9,494 | -9.0% |
| Income taxes | 67/77 | €21,940 | €19,535 | -€2,405 | -11.0% |
| Profit (loss) for the period | 9904 | €83,193 | €76,103 | -€7,089 | -8.5% |
| Profit (loss) for the period to be appropriated | 9905 | €83,193 | €76,103 | -€7,089 | -8.5% |
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 4 October 2026 via checked.be.