ED TRA: 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.
ED TRA
Largest movements
- Cash -€337,347
down €337,347 (-93.5%), from €360,910 to €23,563
mainly Contributions, distributions and other (-€213,000) and Receivables within one year (-€130,315)
- Receivables within one year +€130,315
up €130,315 (+152%), from €85,952 to €216,267
of which Trade receivables: +€125,517
- Profit (loss) carried forward -€153,560
down €153,560 (-82.9%), from €185,166 to €31,607
- Contributions -€28,000
down €28,000 (-14.0%), from €200,000 to €172,000
- Trade debts -€18,052
down €18,052 (-44.6%), from €40,442 to €22,390
- Tax, wage and social debts -€14,066
no longer reported in 2025 (was €14,066)
of which Taxes: -€11,515
- Accrued charges and deferred income +€7,000
up €7,000 (+334%), from €2,099 to €9,099
- Gross operating margin -€94,636
down €94,636 (-64.7%), from €146,373 to €51,738
- Staff costs -€32,553
down €32,553 (-99.8%), from €32,616 to €63
- Taxes -€17,439
down €17,439 (-54.0%), from €32,292 to €14,854
- Other operating charges -€2,072
down €2,072 (-44.2%), from €4,693 to €2,620
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 | €450,300 | €244,730 | -€205,571 | -45.7% |
| Fixed assets | 21/28 | €2,059 | €485 | -€1,573 | -76.4% |
| Tangible fixed assets | 22/27 | €2,059 | €485 | -€1,573 | -76.4% |
| Furniture and vehicles | 24 | €2,059 | €485 | -€1,573 | -76.4% |
| Current assets | 29/58 | €448,242 | €244,245 | -€203,997 | -45.5% |
| Amounts receivable within one year | 40/41 | €85,952 | €216,267 | +€130,315 | +152% |
| Trade receivables | 40 | €65,343 | €190,860 | +€125,517 | +192% |
| Other amounts receivable | 41 | €20,610 | €25,407 | +€4,797 | +23.3% |
| Current investments | 50/53 | €6 | €6 | -€0 | -7.0% |
| Cash at bank and in hand | 54/58 | €360,910 | €23,563 | -€337,347 | -93.5% |
| Deferred charges and accrued income | 490/1 | €1,373 | €4,409 | +€3,036 | +221% |
| Total equity and liabilities | 10/49 | €450,300 | €244,730 | -€205,571 | -45.7% |
| Equity | 10/15 | €385,166 | €203,607 | -€181,560 | -47.1% |
| Contributions | 10/11 | €200,000 | €172,000 | -€28,000 | -14.0% |
| Profit (loss) carried forward | 14 | €185,166 | €31,607 | -€153,560 | -82.9% |
| Amounts payable | 17/49 | €65,134 | €41,123 | -€24,011 | -36.9% |
| Amounts payable within one year | 42/48 | €63,035 | €32,024 | -€31,011 | -49.2% |
| Trade debts | 44 | €40,442 | €22,390 | -€18,052 | -44.6% |
| Suppliers | 440/4 | €40,442 | €22,390 | -€18,052 | -44.6% |
| Taxes, remuneration and social security | 45 | €14,066 | - | -€14,066 | |
| Taxes | 450/3 | €11,515 | - | -€11,515 | |
| Remuneration and social security | 454/9 | €2,550 | - | -€2,550 | |
| Other amounts payable | 47/48 | €8,527 | €9,634 | +€1,107 | +13.0% |
| Accrued charges and deferred income | 492/3 | €2,099 | €9,099 | +€7,000 | +334% |
| Remuneration, social security and pensions | 62 | €32,616 | €63 | -€32,553 | -99.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,879 | €1,573 | -€305 | -16.2% |
| Other operating charges | 640/8 | €4,693 | €2,620 | -€2,072 | -44.2% |
| Non-recurring operating charges | 66A | €90,773 | - | -€90,773 | |
| Gross operating margin | 9900 | €146,373 | €51,738 | -€94,636 | -64.7% |
| Operating profit (loss) | 9901 | €16,413 | €47,481 | +€31,068 | +189% |
| Financial income | 75/76B | €334 | €569 | +€235 | +70.2% |
| Recurring financial income | 75 | €334 | €569 | +€235 | +70.2% |
| Financial charges | 65/66B | €2,530 | €1,756 | -€774 | -30.6% |
| Recurring financial charges | 65 | €2,530 | €1,756 | -€774 | -30.6% |
| Profit (loss) for the period before taxes | 9903 | €14,217 | €46,294 | +€32,077 | +226% |
| Income taxes | 67/77 | €32,292 | €14,854 | -€17,439 | -54.0% |
| Profit (loss) for the period | 9904 | -€18,075 | €31,440 | +€49,516 | |
| Profit (loss) for the period to be appropriated | 9905 | -€18,075 | €31,440 | +€49,516 |
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 15 October 2026 via checked.be.