TRY and CATCH: what changed
TRY and CATCH
Largest movements
- Receivables within one year +€95,748
up €95,748 (+336%), from €28,520 to €124,268
of which Other amounts receivable: +€87,970
- Tangible fixed assets -€45,801
down €45,801 (-19.8%), from €231,669 to €185,868
of which Leasing and similar rights: -€53,186
- Reserves +€42,674
up €42,674 (+17.3%), from €246,349 to €289,023
of which Distributable reserves: +€42,674
- Tax, wage and social debts +€5,702
up €5,702 (+53.0%), from €10,750 to €16,452
- Depreciation -€10,934
down €10,934 (-91.1%), from €11,997 to €1,063
- Gross operating margin +€7,467
up €7,467 (+12.5%), from €59,881 to €67,348
- Taxes +€7,372
up €7,372 (+47.2%), from €15,613 to €22,985
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €270,417 | €319,791 | +€49,374 | +18.3% |
| Fixed assets | 21/28 | €231,669 | €185,868 | -€45,801 | -19.8% |
| Tangible fixed assets | 22/27 | €231,669 | €185,868 | -€45,801 | -19.8% |
| Plant, machinery and equipment | 23 | €1,026 | €755 | -€271 | -26.4% |
| Furniture and vehicles | 24 | €1,316 | €524 | -€792 | -60.2% |
| Leasing and similar rights | 25 | €53,186 | - | -€53,186 | |
| Assets under construction and advance payments | 27 | €176,141 | €184,589 | +€8,448 | +4.8% |
| Current assets | 29/58 | €38,748 | €133,923 | +€95,175 | +246% |
| Amounts receivable within one year | 40/41 | €28,520 | €124,268 | +€95,748 | +336% |
| Trade receivables | 40 | €21,983 | €29,761 | +€7,778 | +35.4% |
| Other amounts receivable | 41 | €6,537 | €94,507 | +€87,970 | +1,346% |
| Cash at bank and in hand | 54/58 | €10,228 | €9,655 | -€573 | -5.6% |
| Total equity and liabilities | 10/49 | €270,417 | €319,791 | +€49,374 | +18.3% |
| Equity | 10/15 | €259,667 | €302,341 | +€42,674 | +16.4% |
| Contributions | 10/11 | €6,300 | €6,300 | = | 0.0% |
| Reserves | 13 | €246,349 | €289,023 | +€42,674 | +17.3% |
| Tax-exempt reserves | 132 | €15,027 | €15,027 | = | 0.0% |
| Distributable reserves | 133 | €231,322 | €273,996 | +€42,674 | +18.4% |
| Profit (loss) carried forward | 14 | €7,018 | €7,018 | = | 0.0% |
| Amounts payable | 17/49 | €10,750 | €17,450 | +€6,700 | +62.3% |
| Amounts payable within one year | 42/48 | €10,750 | €17,450 | +€6,700 | +62.3% |
| Trade debts | 44 | - | €998 | +€998 | |
| Suppliers | 440/4 | - | €998 | +€998 | |
| Taxes, remuneration and social security | 45 | €10,750 | €16,452 | +€5,702 | +53.0% |
| Taxes | 450/3 | €10,750 | €16,452 | +€5,702 | +53.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,997 | €1,063 | -€10,934 | -91.1% |
| Other operating charges | 640/8 | €105 | €423 | +€318 | +303% |
| Gross operating margin | 9900 | €59,881 | €67,348 | +€7,467 | +12.5% |
| Operating profit (loss) | 9901 | €47,779 | €65,862 | +€18,083 | +37.8% |
| Financial income | 75/76B | €6 | - | -€6 | |
| Recurring financial income | 75 | €6 | - | -€6 | |
| Financial charges | 65/66B | €211 | €203 | -€8 | -3.8% |
| Recurring financial charges | 65 | €211 | €203 | -€8 | -3.8% |
| Profit (loss) for the period before taxes | 9903 | €47,574 | €65,659 | +€18,085 | +38.0% |
| Income taxes | 67/77 | €15,613 | €22,985 | +€7,372 | +47.2% |
| Profit (loss) for the period | 9904 | €31,961 | €42,674 | +€10,713 | +33.5% |
| Profit (loss) for the period to be appropriated | 9905 | €31,961 | €42,674 | +€10,713 | +33.5% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.