DEN TRAVOO: 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.
DEN TRAVOO
Largest movements
- Receivables within one year +€6,418
up €6,418 (+172%), from €3,723 to €10,141
of which Other amounts receivable: +€7,719
- Deferred charges and accrued income +€3,411
up €3,411 (+156%), from €2,187 to €5,598
- Cash -€2,290
down €2,290 (-2.5%), from €92,442 to €90,152
mainly Investment in fixed assets (net) (-€10,845) and Tax, wage and social debts (-€9,404)
- Trade debts +€10,537
up €10,537 (+28.7%), from €36,673 to €47,211
- Tax, wage and social debts -€9,404
down €9,404 (-23.6%), from €39,919 to €30,515
of which Remuneration and social security: -€11,095
- Reserves +€7,529
up €7,529 (+10.0%), from €75,113 to €82,641
- Staff costs +€32,834
up €32,834 (+21.6%), from €152,012 to €184,846
- Gross operating margin +€19,114
up €19,114 (+9.6%), from €199,966 to €219,080
- Taxes -€4,423
down €4,423 (-49.6%), from €8,923 to €4,500
- Depreciation +€3,100
up €3,100 (+43.5%), from €7,125 to €10,226
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.
Derived cash bridge
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 | €157,350 | €165,317 | +€7,967 | +5.1% |
| Fixed assets | 21/28 | €40,255 | €40,874 | +€619 | +1.5% |
| Tangible fixed assets | 22/27 | €37,592 | €38,212 | +€619 | +1.6% |
| Plant, machinery and equipment | 23 | €10,575 | €13,599 | +€3,024 | +28.6% |
| Furniture and vehicles | 24 | €80 | €0 | -€80 | -100% |
| Other tangible fixed assets | 26 | €26,937 | €24,613 | -€2,325 | -8.6% |
| Financial fixed assets | 28 | €2,662 | €2,662 | = | 0.0% |
| Current assets | 29/58 | €117,095 | €124,443 | +€7,348 | +6.3% |
| Stocks and contracts in progress | 3 | €18,743 | €18,553 | -€190 | -1.0% |
| Stocks | 30/36 | €18,743 | €18,553 | -€190 | -1.0% |
| Amounts receivable within one year | 40/41 | €3,723 | €10,141 | +€6,418 | +172% |
| Trade receivables | 40 | €1,301 | - | -€1,301 | |
| Other amounts receivable | 41 | €2,422 | €10,141 | +€7,719 | +319% |
| Cash at bank and in hand | 54/58 | €92,442 | €90,152 | -€2,290 | -2.5% |
| Deferred charges and accrued income | 490/1 | €2,187 | €5,598 | +€3,411 | +156% |
| Total equity and liabilities | 10/49 | €157,350 | €165,317 | +€7,967 | +5.1% |
| Equity | 10/15 | €75,113 | €82,641 | +€7,529 | +10.0% |
| Reserves | 13 | €75,113 | €82,641 | +€7,529 | +10.0% |
| Distributable reserves | 133 | €75,113 | €82,641 | +€7,529 | +10.0% |
| Amounts payable | 17/49 | €82,237 | €82,676 | +€439 | +0.5% |
| Amounts payable within one year | 42/48 | €81,942 | €81,926 | -€16 | 0.0% |
| Trade debts | 44 | €36,673 | €47,211 | +€10,537 | +28.7% |
| Suppliers | 440/4 | €36,673 | €47,211 | +€10,537 | +28.7% |
| Taxes, remuneration and social security | 45 | €39,919 | €30,515 | -€9,404 | -23.6% |
| Taxes | 450/3 | €20,201 | €21,892 | +€1,691 | +8.4% |
| Remuneration and social security | 454/9 | €19,719 | €8,623 | -€11,095 | -56.3% |
| Other amounts payable | 47/48 | €5,350 | €4,200 | -€1,150 | -21.5% |
| Accrued charges and deferred income | 492/3 | €295 | €750 | +€455 | +154% |
| Remuneration, social security and pensions | 62 | €152,012 | €184,846 | +€32,834 | +21.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,125 | €10,226 | +€3,100 | +43.5% |
| Other operating charges | 640/8 | €7,275 | €9,445 | +€2,170 | +29.8% |
| Gross operating margin | 9900 | €199,966 | €219,080 | +€19,114 | +9.6% |
| Operating profit (loss) | 9901 | €33,553 | €14,563 | -€18,990 | -56.6% |
| Financial income | 75/76B | €21 | €36 | +€15 | +71.4% |
| Recurring financial income | 75 | €21 | €36 | +€15 | +71.4% |
| Financial charges | 65/66B | €2,827 | €2,571 | -€256 | -9.1% |
| Recurring financial charges | 65 | €2,827 | €2,571 | -€256 | -9.1% |
| Profit (loss) for the period before taxes | 9903 | €30,748 | €12,029 | -€18,719 | -60.9% |
| Income taxes | 67/77 | €8,923 | €4,500 | -€4,423 | -49.6% |
| Profit (loss) for the period | 9904 | €21,824 | €7,529 | -€14,296 | -65.5% |
| Profit (loss) for the period to be appropriated | 9905 | €21,824 | €7,529 | -€14,296 | -65.5% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 22 October 2026 via checked.be.