TRA
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 19-11-2025 PDF all 3 filings
Every figure per financial year
The operating result for 2025 is 70% higher than in 2024 and the highest since 2023. It is the second rise in a row.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Investments
| Item | 30-06-2023 | 30-06-2024 | 30-06-2025 |
|---|---|---|---|
| Tangible fixed assets | - | €1,025 | - |
| Depreciation and write-downs of the year | - | €20 | €355 |
Source: notes to the 2023 to 2025 annual accounts (statement of fixed assets)
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | €20 | €355 | ▲ 18× |
| Other operating charges640/8 | €348 | €999 | €513 | ▼ 48.6% |
| Gross operating margin9900 | €6,293 | €20,989 | €34,774 | ▲ 65.7% |
| Operating profit (loss)9901 | €5,946 | €19,969 | €33,906 | ▲ 69.8% |
| Financial income75/76B | €1 | €0 | - | - |
| Recurring financial income75 | €1 | €0 | - | - |
| Financial charges65/66B | €127 | €834 | €934 | ▲ 12.0% |
| Recurring financial charges65 | €127 | €834 | €934 | ▲ 12.0% |
| Profit (loss) for the period before taxes9903 | €5,820 | €19,135 | €32,971 | ▲ 72.3% |
| Income taxes67/77 | €1,694 | €5,343 | €9,013 | ▲ 68.7% |
| Profit (loss) for the period9904 | €4,126 | €13,792 | €23,959 | ▲ 73.7% |
| Profit (loss) for the period to be appropriated9905 | €4,126 | €13,792 | €23,959 | ▲ 73.7% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €41,006 | €56,151 | €89,765 | ▲ 59.9% |
| Fixed assets21/28 | - | €1,005 | €650 | ▼ 35.3% |
| Tangible fixed assets22/27 | - | €1,005 | €650 | ▼ 35.3% |
| Furniture and vehicles24 | - | €1,005 | €650 | ▼ 35.3% |
| Current assets29/58 | €41,006 | €55,147 | €89,115 | ▲ 61.6% |
| Amounts receivable within one year40/41 | €7,058 | €35,274 | €71,882 | ▲ 104% |
| Trade receivables40 | €7,058 | €35,274 | €71,882 | ▲ 104% |
| Cash at bank and in hand54/58 | €33,948 | €19,873 | €17,233 | ▼ 13.3% |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €41,006 | €56,151 | €89,765 | ▲ 59.9% |
| Equity10/15 | €24,126 | €37,918 | €61,876 | ▲ 63.2% |
| Contributions10/11 | €20,000 | €20,000 | €20,000 | = |
| Reserves13 | €4,126 | €17,918 | €41,876 | ▲ 134% |
| Distributable reserves133 | €4,126 | €17,918 | €41,876 | ▲ 134% |
| Amounts payable17/49 | €16,881 | €18,233 | €27,889 | ▲ 53.0% |
| Amounts payable within one year42/48 | €16,881 | €18,233 | €27,889 | ▲ 53.0% |
| Trade debts44 | €601 | €474 | €365 | ▼ 23.0% |
| Suppliers440/4 | €601 | €474 | €365 | ▼ 23.0% |
| Taxes, remuneration and social security45 | €3,884 | €6,506 | €12,795 | ▲ 96.7% |
| Taxes450/3 | €3,884 | €6,506 | €12,795 | ▲ 96.7% |
| Other amounts payable47/48 | €12,396 | €11,254 | €14,729 | ▲ 30.9% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | €4,126 | €13,792 | €23,959 | ▲ 73.7% |
| + Depreciation and write-downs630 | - | €20 | €355 | ▲ 18× |
| Operating cash flow (approximation) | €4,126 | €13,812 | €24,314 | ▲ 76.0% |
| Investment in fixed assets (approximation) | - | - | €0 | - |
| Change in cash | - | -€14,076 | -€2,640 | ▲ 81.2% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 39,278 companies had the same profile as TRA has now. Two years later, 95.8% were still going and 1.8% had gone bankrupt.
- Micro
- 2 to 5 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of TRA itself: 0.7% within 12 months.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 39,278 companies, not a prediction for TRA. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.