TREFINA: what changed
TREFINA
Largest movements
- Cash -€68,756
down €68,756 (-59.5%), from €115,564 to €46,808
mainly Investment in fixed assets (net) (-€69,259) and Debts after one year (-€42,336)
- Tangible fixed assets +€40,840
up €40,840 (+20.2%), from €202,077 to €242,917
of which Land and buildings: +€40,292
- Debts after one year -€42,336
down €42,336 (-45.0%), from €94,179 to €51,843
of which Other amounts payable: -€42,336
- Current portion of long-term debt +€15,687
up €15,687 (+61.1%), from €25,668 to €41,355
- Profit (loss) carried forward -€5,214
down €5,214 (-106%), from -€4,917 to -€10,131
- Depreciation +€6,732
up €6,732 (+31.0%), from €21,686 to €28,419
- Gross operating margin +€3,610
up €3,610 (+13.7%), from €26,311 to €29,921
- Financial charges -€1,271
down €1,271 (-29.2%), from €4,357 to €3,087
Change in the result, 2023 to 2024
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 2023 and 2024 balance sheets and the 2024 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 | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €324,851 | €295,623 | -€29,228 | -9.0% |
| Fixed assets | 21/28 | €202,077 | €242,917 | +€40,840 | +20.2% |
| Tangible fixed assets | 22/27 | €202,077 | €242,917 | +€40,840 | +20.2% |
| Land and buildings | 22 | €202,077 | €242,369 | +€40,292 | +19.9% |
| Furniture and vehicles | 24 | - | €548 | +€548 | |
| Current assets | 29/58 | €122,774 | €52,706 | -€70,069 | -57.1% |
| Current investments | 50/53 | €5,614 | €5,614 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €115,564 | €46,808 | -€68,756 | -59.5% |
| Deferred charges and accrued income | 490/1 | €1,596 | €284 | -€1,312 | -82.2% |
| Total equity and liabilities | 10/49 | €324,851 | €295,623 | -€29,228 | -9.0% |
| Equity | 10/15 | €149,905 | €144,691 | -€5,214 | -3.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €148,622 | €148,622 | = | 0.0% |
| Non-distributable reserves | 130/1 | €28,622 | €28,622 | = | 0.0% |
| Reserves not available under the articles | 1311 | €28,622 | €28,622 | = | 0.0% |
| Distributable reserves | 133 | €120,000 | €120,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€4,917 | -€10,131 | -€5,214 | -106% |
| Amounts payable | 17/49 | €174,947 | €150,932 | -€24,014 | -13.7% |
| Amounts payable after more than one year | 17 | €94,179 | €51,843 | -€42,336 | -45.0% |
| Financial debts | 170/4 | €6,500 | €6,500 | = | 0.0% |
| Other amounts payable | 178/9 | €87,679 | €45,343 | -€42,336 | -48.3% |
| Amounts payable within one year | 42/48 | €80,768 | €96,454 | +€15,687 | +19.4% |
| Current portion of amounts payable after more than one year | 42 | €25,668 | €41,355 | +€15,687 | +61.1% |
| Trade debts | 44 | €3,598 | €4,889 | +€1,292 | +35.9% |
| Suppliers | 440/4 | €3,598 | €4,889 | +€1,292 | +35.9% |
| Other amounts payable | 47/48 | €51,502 | €50,210 | -€1,292 | -2.5% |
| Accrued charges and deferred income | 492/3 | - | €2,635 | +€2,635 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,686 | €28,419 | +€6,732 | +31.0% |
| Other operating charges | 640/8 | €3,704 | €3,806 | +€102 | +2.8% |
| Gross operating margin | 9900 | €26,311 | €29,921 | +€3,610 | +13.7% |
| Operating profit (loss) | 9901 | €920 | -€2,304 | -€3,224 | |
| Financial income | 75/76B | €155 | €252 | +€97 | +62.8% |
| Recurring financial income | 75 | €155 | €252 | +€97 | +62.8% |
| Financial charges | 65/66B | €4,357 | €3,087 | -€1,271 | -29.2% |
| Recurring financial charges | 65 | €4,357 | €3,087 | -€1,271 | -29.2% |
| Profit (loss) for the period before taxes | 9903 | -€3,282 | -€5,138 | -€1,856 | -56.6% |
| Income taxes | 67/77 | €42 | €76 | +€33 | +78.8% |
| Profit (loss) for the period | 9904 | -€3,324 | -€5,214 | -€1,890 | -56.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€3,324 | -€5,214 | -€1,890 | -56.8% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.