TRUSTPLUS: 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.
TRUSTPLUS
Largest movements
- Current investments +€240,000
up €240,000 (+178%), from €135,000 to €375,000
- Intangible fixed assets -€55,200
down €55,200 (-11.5%), from €479,395 to €424,195
- Deferred charges and accrued income +€32,499
up €32,499 (+39.4%), from €82,413 to €114,912
- Tangible fixed assets -€26,543
down €26,543 (-2.0%), from €1.3m to €1.3m
of which Land and buildings: -€51,425
- Reserves +€186,314
up €186,314 (+35.4%), from €526,158 to €712,472
- Debts after one year -€87,970
down €87,970 (-8.1%), from €1.1m to €1.0m
- Trade debts +€40,609
up €40,609 (+53.6%), from €75,755 to €116,364
- Other debts +€36,837
up €36,837 (+32.6%), from €113,163 to €150,000
- Gross operating margin +€188,745
up €188,745 (+17.1%), from €1.1m to €1.3m
- Staff costs +€110,187
up €110,187 (+19.6%), from €562,646 to €672,833
- Depreciation -€21,098
down €21,098 (-11.1%), from €190,336 to €169,238
- Taxes +€16,914
up €16,914 (+29.4%), from €57,483 to €74,396
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 | €2,145,180 | €2,321,286 | +€176,106 | +8.2% |
| Fixed assets | 21/28 | €1,824,112 | €1,742,370 | -€81,743 | -4.5% |
| Intangible fixed assets | 21 | €479,395 | €424,195 | -€55,200 | -11.5% |
| Tangible fixed assets | 22/27 | €1,339,718 | €1,313,175 | -€26,543 | -2.0% |
| Land and buildings | 22 | €826,613 | €775,188 | -€51,425 | -6.2% |
| Plant, machinery and equipment | 23 | - | €6,269 | +€6,269 | |
| Furniture and vehicles | 24 | €513,105 | €531,718 | +€18,613 | +3.6% |
| Financial fixed assets | 28 | €5,000 | €5,000 | = | 0.0% |
| Current assets | 29/58 | €321,067 | €578,916 | +€257,849 | +80.3% |
| Amounts receivable within one year | 40/41 | €80,651 | €59,350 | -€21,301 | -26.4% |
| Trade receivables | 40 | €75,293 | €53,107 | -€22,186 | -29.5% |
| Other amounts receivable | 41 | €5,358 | €6,243 | +€885 | +16.5% |
| Current investments | 50/53 | €135,000 | €375,000 | +€240,000 | +178% |
| Cash at bank and in hand | 54/58 | €23,003 | €29,655 | +€6,651 | +28.9% |
| Deferred charges and accrued income | 490/1 | €82,413 | €114,912 | +€32,499 | +39.4% |
| Total equity and liabilities | 10/49 | €2,145,180 | €2,321,286 | +€176,106 | +8.2% |
| Equity | 10/15 | €616,158 | €802,472 | +€186,314 | +30.2% |
| Contributions | 10/11 | €90,000 | €90,000 | = | 0.0% |
| Reserves | 13 | €526,158 | €712,472 | +€186,314 | +35.4% |
| Distributable reserves | 133 | €526,158 | €712,472 | +€186,314 | +35.4% |
| Amounts payable | 17/49 | €1,529,022 | €1,518,814 | -€10,208 | -0.7% |
| Amounts payable after more than one year | 17 | €1,088,811 | €1,000,840 | -€87,970 | -8.1% |
| Financial debts | 170/4 | €1,088,811 | €1,000,840 | -€87,970 | -8.1% |
| Amounts payable within one year | 42/48 | €437,327 | €517,560 | +€80,233 | +18.3% |
| Current portion of amounts payable after more than one year | 42 | €175,227 | €178,009 | +€2,782 | +1.6% |
| Financial debts | 43 | €319 | €42 | -€277 | -86.8% |
| Credit institutions | 430/8 | €319 | €42 | -€277 | -86.8% |
| Trade debts | 44 | €75,755 | €116,364 | +€40,609 | +53.6% |
| Suppliers | 440/4 | €75,755 | €116,364 | +€40,609 | +53.6% |
| Advances received on contracts in progress | 46 | €760 | - | -€760 | |
| Taxes, remuneration and social security | 45 | €72,103 | €73,145 | +€1,042 | +1.4% |
| Taxes | 450/3 | €8,563 | €419 | -€8,144 | -95.1% |
| Remuneration and social security | 454/9 | €63,540 | €72,726 | +€9,186 | +14.5% |
| Other amounts payable | 47/48 | €113,163 | €150,000 | +€36,837 | +32.6% |
| Accrued charges and deferred income | 492/3 | €2,884 | €414 | -€2,471 | -85.7% |
| Remuneration, social security and pensions | 62 | €562,646 | €672,833 | +€110,187 | +19.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €190,336 | €169,238 | -€21,098 | -11.1% |
| Other operating charges | 640/8 | €13,803 | €15,180 | +€1,376 | +10.0% |
| Non-recurring operating charges | 66A | €1,061 | €1,097 | +€36 | +3.4% |
| Gross operating margin | 9900 | €1,104,551 | €1,293,297 | +€188,745 | +17.1% |
| Operating profit (loss) | 9901 | €336,704 | €434,949 | +€98,245 | +29.2% |
| Financial income | 75/76B | €1,461 | €1,372 | -€89 | -6.1% |
| Recurring financial income | 75 | €1,461 | €1,372 | -€89 | -6.1% |
| Financial charges | 65/66B | €30,858 | €25,610 | -€5,248 | -17.0% |
| Recurring financial charges | 65 | €30,858 | €25,610 | -€5,248 | -17.0% |
| Profit (loss) for the period before taxes | 9903 | €307,307 | €410,711 | +€103,404 | +33.6% |
| Income taxes | 67/77 | €57,483 | €74,396 | +€16,914 | +29.4% |
| Profit (loss) for the period | 9904 | €249,824 | €336,314 | +€86,490 | +34.6% |
| Profit (loss) for the period to be appropriated | 9905 | €249,824 | €336,314 | +€86,490 | +34.6% |
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 27 October 2026 via checked.be.