D TRAVEL: 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.
D TRAVEL
Largest movements
- Deferred charges and accrued income -€213,720
down €213,720 (-39.8%), from €536,617 to €322,898
- Cash +€42,876
up €42,876 (+17.4%), from €246,902 to €289,778
mainly Deferred charges and accrued income (+€213,720) and Accrued charges and deferred income (+€20,649)
- Tangible fixed assets -€12,576
down €12,576 (-11.2%), from €112,355 to €99,779
of which Land and buildings: -€13,359
- Trade debts -€196,210
down €196,210 (-32.4%), from €606,224 to €410,013
- Accrued charges and deferred income +€20,649
up €20,649 (+63.9%), from €32,294 to €52,943
- Short-term financial debts -€14,310
down €14,310 (-100%), from €14,310 to €0
- Reserves +€11,797
up €11,797 (+5.8%), from €202,253 to €214,050
- Gross operating margin +€7,375
up €7,375 (+23.1%), from €31,874 to €39,249
- Taxes +€4,564
up €4,564 (+92.8%), from €4,919 to €9,483
- Financial income -€503
down €503 (-14.7%), from €3,414 to €2,911
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €963,156 | €777,208 | -€185,948 | -19.3% |
| Fixed assets | 21/28 | €175,739 | €163,163 | -€12,576 | -7.2% |
| Tangible fixed assets | 22/27 | €112,355 | €99,779 | -€12,576 | -11.2% |
| Land and buildings | 22 | €112,355 | €98,996 | -€13,359 | -11.9% |
| Furniture and vehicles | 24 | - | €783 | +€783 | |
| Financial fixed assets | 28 | €63,384 | €63,384 | = | 0.0% |
| Current assets | 29/58 | €787,417 | €614,045 | -€173,372 | -22.0% |
| Amounts receivable within one year | 40/41 | €3,897 | €1,369 | -€2,528 | -64.9% |
| Other amounts receivable | 41 | €3,897 | €1,369 | -€2,528 | -64.9% |
| Cash at bank and in hand | 54/58 | €246,902 | €289,778 | +€42,876 | +17.4% |
| Deferred charges and accrued income | 490/1 | €536,617 | €322,898 | -€213,720 | -39.8% |
| Total equity and liabilities | 10/49 | €963,156 | €777,208 | -€185,948 | -19.3% |
| Equity | 10/15 | €260,753 | €272,550 | +€11,797 | +4.5% |
| Contributions | 10/11 | €58,500 | €58,500 | = | 0.0% |
| Reserves | 13 | €202,253 | €214,050 | +€11,797 | +5.8% |
| Distributable reserves | 133 | €202,253 | €214,050 | +€11,797 | +5.8% |
| Amounts payable | 17/49 | €702,403 | €504,658 | -€197,745 | -28.2% |
| Amounts payable after more than one year | 17 | €10,591 | €10,591 | = | 0.0% |
| Financial debts | 170/4 | €10,591 | €10,591 | = | 0.0% |
| Amounts payable within one year | 42/48 | €659,518 | €441,124 | -€218,394 | -33.1% |
| Current portion of amounts payable after more than one year | 42 | €16,584 | €8,347 | -€8,237 | -49.7% |
| Financial debts | 43 | €14,310 | €0 | -€14,310 | -100% |
| Credit institutions | 430/8 | €14,310 | €0 | -€14,310 | -100% |
| Trade debts | 44 | €606,224 | €410,013 | -€196,210 | -32.4% |
| Suppliers | 440/4 | €606,224 | €410,013 | -€196,210 | -32.4% |
| Taxes, remuneration and social security | 45 | €6,834 | €7,790 | +€956 | +14.0% |
| Taxes | 450/3 | €6,834 | €7,790 | +€956 | +14.0% |
| Other amounts payable | 47/48 | €15,566 | €14,974 | -€593 | -3.8% |
| Accrued charges and deferred income | 492/3 | €32,294 | €52,943 | +€20,649 | +63.9% |
| Non-recurring operating income | 76A | - | €398 | +€398 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,359 | €13,466 | +€107 | +0.8% |
| Other operating charges | 640/8 | €3,368 | €3,474 | +€107 | +3.2% |
| Gross operating margin | 9900 | €31,874 | €39,249 | +€7,375 | +23.1% |
| Operating profit (loss) | 9901 | €15,148 | €22,309 | +€7,161 | +47.3% |
| Financial income | 75/76B | €3,414 | €2,911 | -€503 | -14.7% |
| Recurring financial income | 75 | €3,414 | €2,911 | -€503 | -14.7% |
| Financial charges | 65/66B | €4,119 | €3,940 | -€179 | -4.3% |
| Recurring financial charges | 65 | €4,119 | €3,940 | -€179 | -4.3% |
| Profit (loss) for the period before taxes | 9903 | €14,442 | €21,280 | +€6,837 | +47.3% |
| Income taxes | 67/77 | €4,919 | €9,483 | +€4,564 | +92.8% |
| Profit (loss) for the period | 9904 | €9,524 | €11,797 | +€2,273 | +23.9% |
| Profit (loss) for the period to be appropriated | 9905 | €9,524 | €11,797 | +€2,273 | +23.9% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.