BR 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.
BR Trans
Largest movements
- Tangible fixed assets -€98,035
down €98,035 (-23.8%), from €411,894 to €313,858
of which Leasing and similar rights: -€67,172
- Receivables within one year +€20,377
up €20,377 (+24.2%), from €84,136 to €104,513
of which Trade receivables: +€25,279
- Debts after one year -€83,582
down €83,582 (-33.7%), from €248,369 to €164,787
- Other debts -€15,461
down €15,461 (-53.8%), from €28,721 to €13,260
- Reserves +€13,675
up €13,675 (+8.6%), from €158,995 to €172,670
of which Distributable reserves: +€14,725
- Tax, wage and social debts +€7,180
up €7,180 (+30.6%), from €23,438 to €30,618
of which Taxes: +€7,444
- Depreciation +€21,953
up €21,953 (+28.9%), from €76,083 to €98,035
- Other operating charges +€6,870
up €6,870 (+52.3%), from €13,130 to €20,000
- Taxes -€5,012
down €5,012 (-30.3%), from €16,517 to €11,506
- Gross operating margin -€3,127
down €3,127 (-1.4%), from €221,988 to €218,861
- Staff costs -€3,114
down €3,114 (-6.1%), from €50,750 to €47,637
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 | €567,161 | €497,131 | -€70,029 | -12.3% |
| Fixed assets | 21/28 | €412,164 | €314,128 | -€98,035 | -23.8% |
| Tangible fixed assets | 22/27 | €411,894 | €313,858 | -€98,035 | -23.8% |
| Land and buildings | 22 | €4,686 | €3,658 | -€1,028 | -21.9% |
| Plant, machinery and equipment | 23 | €4,364 | €3,114 | -€1,250 | -28.6% |
| Furniture and vehicles | 24 | €113,412 | €84,826 | -€28,586 | -25.2% |
| Leasing and similar rights | 25 | €289,432 | €222,260 | -€67,172 | -23.2% |
| Financial fixed assets | 28 | €270 | €270 | = | 0.0% |
| Current assets | 29/58 | €154,997 | €183,003 | +€28,006 | +18.1% |
| Amounts receivable within one year | 40/41 | €84,136 | €104,513 | +€20,377 | +24.2% |
| Trade receivables | 40 | €79,234 | €104,513 | +€25,279 | +31.9% |
| Other amounts receivable | 41 | €4,902 | - | -€4,902 | |
| Cash at bank and in hand | 54/58 | €67,771 | €71,424 | +€3,653 | +5.4% |
| Deferred charges and accrued income | 490/1 | €3,090 | €7,066 | +€3,976 | +128.7% |
| Total equity and liabilities | 10/49 | €567,161 | €497,131 | -€70,029 | -12.3% |
| Equity | 10/15 | €178,995 | €192,670 | +€13,675 | +7.6% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €158,995 | €172,670 | +€13,675 | +8.6% |
| Tax-exempt reserves | 132 | €3,136 | €2,086 | -€1,050 | -33.5% |
| Distributable reserves | 133 | €155,859 | €170,584 | +€14,725 | +9.4% |
| Provisions and deferred taxes | 16 | €1,045 | €695 | -€350 | -33.5% |
| Deferred taxes | 168 | €1,045 | €695 | -€350 | -33.5% |
| Amounts payable | 17/49 | €387,120 | €303,766 | -€83,354 | -21.5% |
| Amounts payable after more than one year | 17 | €248,369 | €164,787 | -€83,582 | -33.7% |
| Financial debts | 170/4 | €248,369 | €164,787 | -€83,582 | -33.7% |
| Amounts payable within one year | 42/48 | €138,751 | €137,265 | -€1,486 | -1.1% |
| Current portion of amounts payable after more than one year | 42 | €80,769 | €83,582 | +€2,813 | +3.5% |
| Trade debts | 44 | €5,824 | €9,805 | +€3,980 | +68.3% |
| Suppliers | 440/4 | €5,824 | €9,805 | +€3,980 | +68.3% |
| Taxes, remuneration and social security | 45 | €23,438 | €30,618 | +€7,180 | +30.6% |
| Taxes | 450/3 | €20,724 | €28,168 | +€7,444 | +35.9% |
| Remuneration and social security | 454/9 | €2,714 | €2,450 | -€264 | -9.7% |
| Other amounts payable | 47/48 | €28,721 | €13,260 | -€15,461 | -53.8% |
| Accrued charges and deferred income | 492/3 | - | €1,715 | +€1,715 | |
| Non-recurring operating income | 76A | €1,204 | - | -€1,204 | |
| Remuneration, social security and pensions | 62 | €50,750 | €47,637 | -€3,114 | -6.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €76,083 | €98,035 | +€21,953 | +28.9% |
| Other operating charges | 640/8 | €13,130 | €20,000 | +€6,870 | +52.3% |
| Non-recurring operating charges | 66A | €335 | €1,535 | +€1,199 | +357.5% |
| Gross operating margin | 9900 | €221,988 | €218,861 | -€3,127 | -1.4% |
| Operating profit (loss) | 9901 | €81,690 | €51,654 | -€30,036 | -36.8% |
| Financial income | 75/76B | €94 | €0 | -€93 | -99.8% |
| Recurring financial income | 75 | €94 | €0 | -€93 | -99.8% |
| Financial charges | 65/66B | €13,735 | €13,714 | -€21 | -0.2% |
| Recurring financial charges | 65 | €13,735 | €13,714 | -€21 | -0.2% |
| Profit (loss) for the period before taxes | 9903 | €68,049 | €37,940 | -€30,108 | -44.2% |
| Transfer from deferred taxes | 780 | €350 | €350 | = | 0.0% |
| Income taxes | 67/77 | €16,517 | €11,506 | -€5,012 | -30.3% |
| Profit (loss) for the period | 9904 | €51,881 | €26,785 | -€25,097 | -48.4% |
| Transfer from tax-exempt reserves | 789 | €1,050 | €1,050 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €52,931 | €27,835 | -€25,097 | -47.4% |
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 6 October 2026 via checked.be.