TRZ: 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.
TRZ
Largest movements
- Cash +€3,037
up €3,037 (+3685.3%), from €82 to €3,119
mainly Trade debts (+€2,812) and Depreciation (+€2,323)
- Tangible fixed assets -€673
down €673 (-10.7%), from €6,268 to €5,595
- Trade debts +€2,812
up €2,812 (+88.7%), from €3,170 to €5,982
- Other debts -€1,512
no longer reported in 2025 (was €1,512)
- Tax, wage and social debts +€1,100
up €1,100 (+65.6%), from €1,677 to €2,777
- Gross operating margin +€8,483
up €8,483 (+1097.3%), from €773 to €9,256
- Other operating charges -€788
down €788 (-17.8%), from €4,426 to €3,637
- Financial charges +€602
up €602 (+22.5%), from €2,673 to €3,275
- Depreciation +€227
up €227 (+10.8%), from €2,096 to €2,323
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 | €8,511 | €10,920 | +€2,409 | +28.3% |
| Fixed assets | 21/28 | €6,268 | €5,595 | -€673 | -10.7% |
| Tangible fixed assets | 22/27 | €6,268 | €5,595 | -€673 | -10.7% |
| Furniture and vehicles | 24 | €6,268 | €5,595 | -€673 | -10.7% |
| Current assets | 29/58 | €2,243 | €5,325 | +€3,082 | +137.4% |
| Amounts receivable within one year | 40/41 | €2,147 | €2,093 | -€54 | -2.5% |
| Trade receivables | 40 | €1,660 | €2,093 | +€432 | +26.0% |
| Other amounts receivable | 41 | €487 | - | -€487 | |
| Cash at bank and in hand | 54/58 | €82 | €3,119 | +€3,037 | +3685.3% |
| Deferred charges and accrued income | 490/1 | €14 | €112 | +€99 | +732.6% |
| Total equity and liabilities | 10/49 | €8,511 | €10,920 | +€2,409 | +28.3% |
| Equity | 10/15 | €2,148 | €2,161 | +€13 | +0.6% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €148 | €161 | +€13 | +8.9% |
| Amounts payable | 17/49 | €6,363 | €8,758 | +€2,395 | +37.6% |
| Amounts payable within one year | 42/48 | €6,359 | €8,758 | +€2,400 | +37.7% |
| Trade debts | 44 | €3,170 | €5,982 | +€2,812 | +88.7% |
| Suppliers | 440/4 | €3,170 | €5,982 | +€2,812 | +88.7% |
| Taxes, remuneration and social security | 45 | €1,677 | €2,777 | +€1,100 | +65.6% |
| Taxes | 450/3 | €1,677 | €2,777 | +€1,100 | +65.6% |
| Other amounts payable | 47/48 | €1,512 | - | -€1,512 | |
| Accrued charges and deferred income | 492/3 | €4 | - | -€4 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,096 | €2,323 | +€227 | +10.8% |
| Other operating charges | 640/8 | €4,426 | €3,637 | -€788 | -17.8% |
| Gross operating margin | 9900 | €773 | €9,256 | +€8,483 | +1097.3% |
| Operating profit (loss) | 9901 | -€5,749 | €3,296 | +€9,045 | |
| Financial income | 75/76B | €2 | €8 | +€6 | +390.3% |
| Recurring financial income | 75 | €2 | €8 | +€6 | +390.3% |
| Financial charges | 65/66B | €2,673 | €3,275 | +€602 | +22.5% |
| Recurring financial charges | 65 | €2,673 | €3,275 | +€602 | +22.5% |
| Profit (loss) for the period before taxes | 9903 | -€8,420 | €29 | +€8,449 | |
| Income taxes | 67/77 | - | €16 | +€16 | |
| Profit (loss) for the period | 9904 | -€8,420 | €13 | +€8,433 | |
| Profit (loss) for the period to be appropriated | 9905 | -€8,420 | €13 | +€8,433 |
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 1 October 2026 via checked.be.