AS Trans: 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.
AS Trans
Largest movements
- Receivables after one year -€63,868
down €63,868 (-63.9%), from €100,000 to €36,132
- Tangible fixed assets -€28,414
down €28,414 (-25.2%), from €112,780 to €84,366
of which Leasing and similar rights: -€22,060
- Receivables within one year -€9,977
down €9,977 (-41.5%), from €24,043 to €14,066
of which Other amounts receivable: -€5,874
- Stocks and contracts -€7,000
no longer reported in 2025 (was €7,000)
- Reserves -€72,807
down €72,807 (-68.5%), from €106,276 to €33,470
- Tax, wage and social debts +€52,467
up €52,467 (+300.7%), from €17,451 to €69,917
- Other debts -€49,316
no longer reported in 2025 (was €49,316)
- Trade debts -€23,273
down €23,273 (-74.2%), from €31,374 to €8,101
- Debts after one year -€9,685
down €9,685 (-47.6%), from €20,333 to €10,648
- Financial charges +€45,423
up €45,423 (+1802.4%), from €2,520 to €47,943
- Depreciation -€22,003
down €22,003 (-70.7%), from €31,131 to €9,127
- Taxes +€8,325
new in 2025: €8,325
- Gross operating margin -€4,847
down €4,847 (-16.9%), from €28,730 to €23,883
- Other operating charges +€361
up €361 (+4.1%), from €8,873 to €9,234
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 | €260,899 | €152,281 | -€108,617 | -41.6% |
| Fixed assets | 21/28 | €129,700 | €101,286 | -€28,414 | -21.9% |
| Tangible fixed assets | 22/27 | €112,780 | €84,366 | -€28,414 | -25.2% |
| Land and buildings | 22 | €77,736 | €77,736 | = | 0.0% |
| Plant, machinery and equipment | 23 | €680 | €20 | -€660 | -97.1% |
| Furniture and vehicles | 24 | €12,304 | €6,610 | -€5,694 | -46.3% |
| Leasing and similar rights | 25 | €22,060 | - | -€22,060 | |
| Financial fixed assets | 28 | €16,920 | €16,920 | = | 0.0% |
| Current assets | 29/58 | €131,199 | €50,995 | -€80,204 | -61.1% |
| Amounts receivable after more than one year | 29 | €100,000 | €36,132 | -€63,868 | -63.9% |
| Other amounts receivable | 291 | €100,000 | €36,132 | -€63,868 | -63.9% |
| Stocks and contracts in progress | 3 | €7,000 | - | -€7,000 | |
| Stocks | 30/36 | €7,000 | - | -€7,000 | |
| Amounts receivable within one year | 40/41 | €24,043 | €14,066 | -€9,977 | -41.5% |
| Trade receivables | 40 | €12,779 | €8,676 | -€4,103 | -32.1% |
| Other amounts receivable | 41 | €11,264 | €5,390 | -€5,874 | -52.1% |
| Cash at bank and in hand | 54/58 | €156 | €166 | +€10 | +6.4% |
| Deferred charges and accrued income | 490/1 | - | €632 | +€632 | |
| Total equity and liabilities | 10/49 | €260,899 | €152,281 | -€108,617 | -41.6% |
| Equity | 10/15 | €126,736 | €53,930 | -€72,807 | -57.4% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Capital | 10 | €20,460 | €20,460 | = | 0.0% |
| Issued capital | 100 | €20,460 | €20,460 | = | 0.0% |
| Reserves | 13 | €106,276 | €33,470 | -€72,807 | -68.5% |
| Distributable reserves | 133 | €106,276 | €33,470 | -€72,807 | -68.5% |
| Amounts payable | 17/49 | €134,162 | €98,352 | -€35,810 | -26.7% |
| Amounts payable after more than one year | 17 | €20,333 | €10,648 | -€9,685 | -47.6% |
| Financial debts | 170/4 | €20,333 | €10,648 | -€9,685 | -47.6% |
| Amounts payable within one year | 42/48 | €113,829 | €87,703 | -€26,126 | -23.0% |
| Current portion of amounts payable after more than one year | 42 | €15,689 | €9,685 | -€6,004 | -38.3% |
| Trade debts | 44 | €31,374 | €8,101 | -€23,273 | -74.2% |
| Suppliers | 440/4 | €31,374 | €8,101 | -€23,273 | -74.2% |
| Taxes, remuneration and social security | 45 | €17,451 | €69,917 | +€52,467 | +300.7% |
| Taxes | 450/3 | €17,451 | €69,917 | +€52,467 | +300.7% |
| Other amounts payable | 47/48 | €49,316 | - | -€49,316 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,131 | €9,127 | -€22,003 | -70.7% |
| Other operating charges | 640/8 | €8,873 | €9,234 | +€361 | +4.1% |
| Non-recurring operating charges | 66A | - | €22,060 | +€22,060 | |
| Gross operating margin | 9900 | €28,730 | €23,883 | -€4,847 | -16.9% |
| Operating profit (loss) | 9901 | -€11,274 | -€16,538 | -€5,265 | -46.7% |
| Financial charges | 65/66B | €2,520 | €47,943 | +€45,423 | +1802.4% |
| Recurring financial charges | 65 | €2,520 | €47,943 | +€45,423 | +1802.4% |
| Profit (loss) for the period before taxes | 9903 | -€13,794 | -€64,482 | -€50,688 | -367.5% |
| Income taxes | 67/77 | - | €8,325 | +€8,325 | |
| Profit (loss) for the period | 9904 | -€13,794 | -€72,807 | -€59,013 | -427.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€13,794 | -€72,807 | -€59,013 | -427.8% |
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 7 October 2026 via checked.be.