TRUSTIM: 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.
TRUSTIM
Largest movements
- Cash +€75,893
up €75,893 (+35.5%), from €214,019 to €289,912
mainly Net result for the year (+€133,158) and Receivables within one year (+€33,514)
- Receivables within one year -€33,514
down €33,514 (-76.9%), from €43,562 to €10,048
of which Trade receivables: -€19,915
- Tangible fixed assets +€29,204
up €29,204 (+12.1%), from €240,472 to €269,677
of which Furniture and vehicles: +€33,907
- Profit (loss) carried forward +€68,158
up €68,158 (+168%), from €40,688 to €108,846
- Other debts -€25,219
down €25,219 (-29.5%), from €85,496 to €60,277
- Debts after one year +€17,938
new in 2025: €17,938
- Provisions -€12,062
down €12,062 (-6.5%), from €185,068 to €173,006
- Tax, wage and social debts +€8,155
up €8,155 (+27.9%), from €29,243 to €37,398
of which Taxes: +€8,696
- Gross operating margin +€32,038
up €32,038 (+14.8%), from €216,667 to €248,705
- Taxes +€16,618
up €16,618 (+41.5%), from €40,040 to €56,659
- Staff costs +€7,653
up €7,653 (+27.6%), from €27,768 to €35,421
- Depreciation +€6,945
up €6,945 (+51.8%), from €13,398 to €20,343
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 | €501,649 | €571,973 | +€70,323 | +14.0% |
| Fixed assets | 21/28 | €240,712 | €269,917 | +€29,204 | +12.1% |
| Tangible fixed assets | 22/27 | €240,472 | €269,677 | +€29,204 | +12.1% |
| Land and buildings | 22 | €224,868 | €222,234 | -€2,634 | -1.2% |
| Plant, machinery and equipment | 23 | €6,204 | €4,301 | -€1,903 | -30.7% |
| Furniture and vehicles | 24 | €8,886 | €42,792 | +€33,907 | +382% |
| Other tangible fixed assets | 26 | €515 | €350 | -€165 | -32.1% |
| Financial fixed assets | 28 | €240 | €240 | = | 0.0% |
| Current assets | 29/58 | €260,937 | €302,056 | +€41,119 | +15.8% |
| Amounts receivable within one year | 40/41 | €43,562 | €10,048 | -€33,514 | -76.9% |
| Trade receivables | 40 | €22,984 | €3,068 | -€19,915 | -86.6% |
| Other amounts receivable | 41 | €20,578 | €6,980 | -€13,598 | -66.1% |
| Cash at bank and in hand | 54/58 | €214,019 | €289,912 | +€75,893 | +35.5% |
| Deferred charges and accrued income | 490/1 | €3,356 | €2,096 | -€1,261 | -37.6% |
| Total equity and liabilities | 10/49 | €501,649 | €571,973 | +€70,323 | +14.0% |
| Equity | 10/15 | €195,148 | €268,306 | +€73,158 | +37.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Contributions outside capital | 11 | - | €18,600 | +€18,600 | |
| Other | 1109/19 | - | €18,600 | +€18,600 | |
| Reserves | 13 | €135,860 | €140,860 | +€5,000 | +3.7% |
| Distributable reserves | 133 | €135,860 | €140,860 | +€5,000 | +3.7% |
| Profit (loss) carried forward | 14 | €40,688 | €108,846 | +€68,158 | +168% |
| Provisions and deferred taxes | 16 | €185,068 | €173,006 | -€12,062 | -6.5% |
| Provisions for liabilities and charges | 160/5 | €185,068 | €173,006 | -€12,062 | -6.5% |
| Environmental obligations | 163 | €185,068 | €173,006 | -€12,062 | -6.5% |
| Amounts payable | 17/49 | €121,433 | €130,661 | +€9,228 | +7.6% |
| Amounts payable after more than one year | 17 | - | €17,938 | +€17,938 | |
| Financial debts | 170/4 | - | €17,938 | +€17,938 | |
| Amounts payable within one year | 42/48 | €121,433 | €112,723 | -€8,711 | -7.2% |
| Current portion of amounts payable after more than one year | 42 | €3,390 | €7,310 | +€3,919 | +116% |
| Trade debts | 44 | €3,304 | €7,737 | +€4,434 | +134% |
| Suppliers | 440/4 | €3,304 | €7,737 | +€4,434 | +134% |
| Taxes, remuneration and social security | 45 | €29,243 | €37,398 | +€8,155 | +27.9% |
| Taxes | 450/3 | €25,246 | €33,942 | +€8,696 | +34.4% |
| Remuneration and social security | 454/9 | €3,997 | €3,456 | -€541 | -13.5% |
| Other amounts payable | 47/48 | €85,496 | €60,277 | -€25,219 | -29.5% |
| Remuneration, social security and pensions | 62 | €27,768 | €35,421 | +€7,653 | +27.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,398 | €20,343 | +€6,945 | +51.8% |
| Other operating charges | 640/8 | €147 | €400 | +€253 | +172% |
| Gross operating margin | 9900 | €216,667 | €248,705 | +€32,038 | +14.8% |
| Operating profit (loss) | 9901 | €175,355 | €192,541 | +€17,187 | +9.8% |
| Financial income | 75/76B | €573 | €898 | +€326 | +56.8% |
| Recurring financial income | 75 | €573 | €898 | +€326 | +56.8% |
| Financial charges | 65/66B | €1,402 | €3,623 | +€2,221 | +158% |
| Recurring financial charges | 65 | €1,402 | €3,623 | +€2,221 | +158% |
| Profit (loss) for the period before taxes | 9903 | €174,525 | €189,816 | +€15,292 | +8.8% |
| Income taxes | 67/77 | €40,040 | €56,659 | +€16,618 | +41.5% |
| Profit (loss) for the period | 9904 | €134,485 | €133,158 | -€1,327 | -1.0% |
| Profit (loss) for the period to be appropriated | 9905 | €134,485 | €133,158 | -€1,327 | -1.0% |
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.