TURING OF TRUST: what changed
TURING OF TRUST
Largest movements
- Cash +€23,895
up €23,895 (+109%), from €21,981 to €45,876
mainly Net result for the year (+€53,249) and Tax, wage and social debts (+€16,840)
- Receivables within one year +€17,768
up €17,768 (+64.9%), from €27,370 to €45,138
of which Trade receivables: +€31,767
- Tangible fixed assets +€3,238
up €3,238 (+379%), from €854 to €4,092
- Formation expenses -€1,000
down €1,000 (-27.3%), from €3,664 to €2,664
- Profit (loss) carried forward +€53,249
up €53,249 (+273%), from €19,497 to €72,746
- Other debts -€23,869
down €23,869 (-100%), from €23,869 to €0
- Tax, wage and social debts +€16,840
up €16,840 (+222%), from €7,573 to €24,412
- Trade debts -€2,285
down €2,285 (-78.3%), from €2,916 to €631
- Gross operating margin +€58,069
up €58,069 (+236%), from €24,613 to €82,681
- Write-downs +€11,137
new in 2025: €11,137
- Taxes +€9,510
up €9,510 (+185%), from €5,130 to €14,640
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 | €55,355 | €99,290 | +€43,935 | +79.4% |
| Formation expenses | 20 | €3,664 | €2,664 | -€1,000 | -27.3% |
| Fixed assets | 21/28 | €854 | €4,092 | +€3,238 | +379% |
| Tangible fixed assets | 22/27 | €854 | €4,092 | +€3,238 | +379% |
| Furniture and vehicles | 24 | €854 | €4,092 | +€3,238 | +379% |
| Current assets | 29/58 | €50,837 | €92,534 | +€41,697 | +82.0% |
| Amounts receivable within one year | 40/41 | €27,370 | €45,138 | +€17,768 | +64.9% |
| Trade receivables | 40 | €13,371 | €45,138 | +€31,767 | +238% |
| Other amounts receivable | 41 | €14,000 | €0 | -€14,000 | -100% |
| Cash at bank and in hand | 54/58 | €21,981 | €45,876 | +€23,895 | +109% |
| Deferred charges and accrued income | 490/1 | €1,486 | €1,520 | +€34 | +2.3% |
| Total equity and liabilities | 10/49 | €55,355 | €99,290 | +€43,935 | +79.4% |
| Equity | 10/15 | €20,997 | €74,246 | +€53,249 | +254% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €19,497 | €72,746 | +€53,249 | +273% |
| Amounts payable | 17/49 | €34,358 | €25,044 | -€9,314 | -27.1% |
| Amounts payable within one year | 42/48 | €34,358 | €25,044 | -€9,314 | -27.1% |
| Trade debts | 44 | €2,916 | €631 | -€2,285 | -78.3% |
| Suppliers | 440/4 | €2,916 | €631 | -€2,285 | -78.3% |
| Taxes, remuneration and social security | 45 | €7,573 | €24,412 | +€16,840 | +222% |
| Taxes | 450/3 | €7,573 | €24,412 | +€16,840 | +222% |
| Other amounts payable | 47/48 | €23,869 | €0 | -€23,869 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,467 | €1,510 | +€44 | +3.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €11,137 | +€11,137 | |
| Other operating charges | 640/8 | €397 | €467 | +€70 | +17.6% |
| Gross operating margin | 9900 | €24,613 | €82,681 | +€58,069 | +236% |
| Operating profit (loss) | 9901 | €22,748 | €69,567 | +€46,818 | +206% |
| Financial charges | 65/66B | €1,844 | €1,678 | -€166 | -9.0% |
| Recurring financial charges | 65 | €1,844 | €1,678 | -€166 | -9.0% |
| Profit (loss) for the period before taxes | 9903 | €20,904 | €67,889 | +€46,985 | +225% |
| Income taxes | 67/77 | €5,130 | €14,640 | +€9,510 | +185% |
| Profit (loss) for the period | 9904 | €15,774 | €53,249 | +€37,475 | +238% |
| Profit (loss) for the period to be appropriated | 9905 | €15,774 | €53,249 | +€37,475 | +238% |
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 4 November 2026 via checked.be.