TRENDSETTER: 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.
TRENDSETTER
Largest movements
- Tangible fixed assets -€23,032
down €23,032 (-6.1%), from €379,973 to €356,941
of which Land and buildings: -€27,871
- Receivables within one year +€20,351
up €20,351 (+43.9%), from €46,352 to €66,703
of which Trade receivables: +€18,778
- Other debts -€38,325
down €38,325 (-48.5%), from €79,092 to €40,767
- Trade debts +€20,414
up €20,414 (+104%), from €19,598 to €40,012
- Reserves +€12,779
up €12,779 (+9.4%), from €136,386 to €149,164
of which Distributable reserves: +€12,779
- Tax, wage and social debts -€5,903
down €5,903 (-28.9%), from €20,414 to €14,511
of which Taxes: -€6,118
- Accrued charges and deferred income +€5,665
up €5,665 (+70.1%), from €8,084 to €13,749
- Gross operating margin -€50,795
down €50,795 (-33.3%), from €152,404 to €101,609
- Taxes +€8,715
up €8,715 (+47.2%), from €18,474 to €27,189
- Other operating charges -€3,949
down €3,949 (-34.0%), from €11,617 to €7,668
- Depreciation +€2,950
up €2,950 (+7.4%), from €39,976 to €42,925
- Financial charges -€2,568
down €2,568 (-29.9%), from €8,582 to €6,014
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 | €437,574 | €432,203 | -€5,371 | -1.2% |
| Fixed assets | 21/28 | €379,973 | €356,941 | -€23,032 | -6.1% |
| Tangible fixed assets | 22/27 | €379,973 | €356,941 | -€23,032 | -6.1% |
| Land and buildings | 22 | €361,505 | €333,634 | -€27,871 | -7.7% |
| Plant, machinery and equipment | 23 | - | €11,868 | +€11,868 | |
| Furniture and vehicles | 24 | €18,468 | €11,438 | -€7,030 | -38.1% |
| Current assets | 29/58 | €57,601 | €75,262 | +€17,661 | +30.7% |
| Amounts receivable within one year | 40/41 | €46,352 | €66,703 | +€20,351 | +43.9% |
| Trade receivables | 40 | €46,352 | €65,129 | +€18,778 | +40.5% |
| Other amounts receivable | 41 | €0 | €1,574 | +€1,574 | |
| Cash at bank and in hand | 54/58 | €9,794 | €7,052 | -€2,742 | -28.0% |
| Deferred charges and accrued income | 490/1 | €1,455 | €1,506 | +€52 | +3.6% |
| Total equity and liabilities | 10/49 | €437,574 | €432,203 | -€5,371 | -1.2% |
| Equity | 10/15 | €310,386 | €323,164 | +€12,779 | +4.1% |
| Contributions | 10/11 | €174,000 | €174,000 | = | 0.0% |
| Reserves | 13 | €136,386 | €149,164 | +€12,779 | +9.4% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €136,386 | €149,164 | +€12,779 | +9.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €127,188 | €109,038 | -€18,150 | -14.3% |
| Amounts payable within one year | 42/48 | €119,104 | €95,289 | -€23,814 | -20.0% |
| Trade debts | 44 | €19,598 | €40,012 | +€20,414 | +104% |
| Suppliers | 440/4 | €19,598 | €40,012 | +€20,414 | +104% |
| Taxes, remuneration and social security | 45 | €20,414 | €14,511 | -€5,903 | -28.9% |
| Taxes | 450/3 | €20,055 | €13,937 | -€6,118 | -30.5% |
| Remuneration and social security | 454/9 | €359 | €574 | +€215 | +59.8% |
| Other amounts payable | 47/48 | €79,092 | €40,767 | -€38,325 | -48.5% |
| Accrued charges and deferred income | 492/3 | €8,084 | €13,749 | +€5,665 | +70.1% |
| Non-recurring operating income | 76A | €46,636 | €0 | -€46,636 | -100% |
| Remuneration, social security and pensions | 62 | €4,937 | €5,034 | +€97 | +2.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €39,976 | €42,925 | +€2,950 | +7.4% |
| Other operating charges | 640/8 | €11,617 | €7,668 | -€3,949 | -34.0% |
| Gross operating margin | 9900 | €152,404 | €101,609 | -€50,795 | -33.3% |
| Operating profit (loss) | 9901 | €95,875 | €45,982 | -€49,893 | -52.0% |
| Financial income | 75/76B | €2,193 | €0 | -€2,193 | -100% |
| Recurring financial income | 75 | €2,193 | €0 | -€2,193 | -100% |
| Financial charges | 65/66B | €8,582 | €6,014 | -€2,568 | -29.9% |
| Recurring financial charges | 65 | €8,582 | €6,014 | -€2,568 | -29.9% |
| Profit (loss) for the period before taxes | 9903 | €89,486 | €39,967 | -€49,519 | -55.3% |
| Income taxes | 67/77 | €18,474 | €27,189 | +€8,715 | +47.2% |
| Profit (loss) for the period | 9904 | €71,012 | €12,779 | -€58,234 | -82.0% |
| Profit (loss) for the period to be appropriated | 9905 | €71,012 | €12,779 | -€58,234 | -82.0% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.