Het Transport: 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.
Het Transport
Largest movements
- Tangible fixed assets +€1.3m
up €1.3m (+22.6%), from €5.8m to €7.1m
of which Land and buildings: +€3.3m
- Debts after one year +€1.4m
up €1.4m (+32.1%), from €4.3m to €5.7m
- Contributions +€300,000
up €300,000 (+34.1%), from €879,000 to €1.2m
- Other debts -€274,230
down €274,230 (-17.1%), from €1.6m to €1.3m
- Profit (loss) carried forward -€164,926
down €164,926 (-22.8%), from -€723,867 to -€888,793
- Current portion of long-term debt +€81,329
new in 2025: €81,329
- Depreciation +€34,461
up €34,461 (+23.6%), from €146,235 to €180,695
- Gross operating margin -€27,367
down €27,367 (-16.2%), from €169,302 to €141,935
- Financial charges +€27,322
up €27,322 (+222.0%), from €12,307 to €39,629
- Other operating charges -€19,179
down €19,179 (-18.1%), from €105,716 to €86,536
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 | €6,190,843 | €7,505,631 | +€1.3m | +21.2% |
| Fixed assets | 21/28 | €6,148,326 | €7,463,663 | +€1.3m | +21.4% |
| Tangible fixed assets | 22/27 | €5,794,429 | €7,104,431 | +€1.3m | +22.6% |
| Land and buildings | 22 | €3,448,675 | €6,796,816 | +€3.3m | +97.1% |
| Plant, machinery and equipment | 23 | €294,789 | €241,588 | -€53,201 | -18.0% |
| Furniture and vehicles | 24 | €75,635 | €66,026 | -€9,609 | -12.7% |
| Other tangible fixed assets | 26 | €1 | €1 | = | 0.0% |
| Assets under construction and advance payments | 27 | €1,975,329 | €0 | -€2.0m | -100.0% |
| Financial fixed assets | 28 | €353,898 | €359,233 | +€5,335 | +1.5% |
| Current assets | 29/58 | €42,517 | €41,967 | -€549 | -1.3% |
| Amounts receivable within one year | 40/41 | €10,715 | €4,201 | -€6,514 | -60.8% |
| Trade receivables | 40 | €325 | €0 | -€325 | -100.0% |
| Other amounts receivable | 41 | €10,390 | €4,201 | -€6,189 | -59.6% |
| Cash at bank and in hand | 54/58 | €9,590 | €37,766 | +€28,176 | +293.8% |
| Deferred charges and accrued income | 490/1 | €22,212 | €0 | -€22,212 | -100.0% |
| Total equity and liabilities | 10/49 | €6,190,843 | €7,505,631 | +€1.3m | +21.2% |
| Equity | 10/15 | €166,610 | €301,684 | +€135,074 | +81.1% |
| Contributions | 10/11 | €879,000 | €1,179,000 | +€300,000 | +34.1% |
| Reserves | 13 | €11,477 | €11,477 | = | 0.0% |
| Non-distributable reserves | 130/1 | €11,477 | €11,477 | = | 0.0% |
| Reserves not available under the articles | 1311 | €11,477 | €11,477 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€723,867 | -€888,793 | -€164,926 | -22.8% |
| Amounts payable | 17/49 | €6,024,233 | €7,203,947 | +€1.2m | +19.6% |
| Amounts payable after more than one year | 17 | €4,299,325 | €5,678,252 | +€1.4m | +32.1% |
| Financial debts | 170/4 | €4,299,325 | €5,678,252 | +€1.4m | +32.1% |
| Amounts payable within one year | 42/48 | €1,721,654 | €1,525,695 | -€195,959 | -11.4% |
| Current portion of amounts payable after more than one year | 42 | - | €81,329 | +€81,329 | |
| Trade debts | 44 | €114,863 | €111,805 | -€3,058 | -2.7% |
| Suppliers | 440/4 | €114,863 | €111,805 | -€3,058 | -2.7% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Other amounts payable | 47/48 | €1,606,792 | €1,332,562 | -€274,230 | -17.1% |
| Accrued charges and deferred income | 492/3 | €3,254 | €0 | -€3,254 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €146,235 | €180,695 | +€34,461 | +23.6% |
| Other operating charges | 640/8 | €105,716 | €86,536 | -€19,179 | -18.1% |
| Gross operating margin | 9900 | €169,302 | €141,935 | -€27,367 | -16.2% |
| Operating profit (loss) | 9901 | -€82,648 | -€125,297 | -€42,649 | -51.6% |
| Financial charges | 65/66B | €12,307 | €39,629 | +€27,322 | +222.0% |
| Recurring financial charges | 65 | €12,307 | €39,629 | +€27,322 | +222.0% |
| Profit (loss) for the period before taxes | 9903 | -€94,955 | -€164,926 | -€69,971 | -73.7% |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€94,955 | -€164,926 | -€69,971 | -73.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€94,955 | -€164,926 | -€69,971 | -73.7% |
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 2 October 2026 via checked.be.