LA TRAVIATA: 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.
LA TRAVIATA
Largest movements
- Tangible fixed assets +€112,569
up €112,569 (+21.0%), from €536,122 to €648,691
of which Land and buildings: +€105,861
- Cash -€45,296
down €45,296 (-91.5%), from €49,488 to €4,192
mainly Investment in fixed assets (net) (-€162,633) and Net result for the year (-€27,631)
- Debts after one year +€33,981
up €33,981 (+56.3%), from €60,362 to €94,343
- Reserves -€27,631
down €27,631 (-6.8%), from €406,884 to €379,253
of which Tax-exempt reserves: -€27,737
- Accrued charges and deferred income +€20,379
up €20,379 (+750%), from €2,717 to €23,096
- Trade debts +€16,083
up €16,083 (+179%), from €8,961 to €25,044
- Short-term financial debts +€14,402
new in 2025: €14,402
- Gross operating margin -€112,580
down €112,580 (-37.7%), from €298,506 to €185,926
- Taxes -€29,348
down €29,348 (-94.6%), from €31,015 to €1,667
- Depreciation +€11,265
up €11,265 (+29.0%), from €38,798 to €50,063
- Financial charges +€4,806
up €4,806 (+87.5%), from €5,493 to €10,299
- Staff costs +€3,121
up €3,121 (+2.2%), from €139,921 to €143,042
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 | €615,524 | €674,981 | +€59,457 | +9.7% |
| Fixed assets | 21/28 | €536,122 | €648,691 | +€112,569 | +21.0% |
| Tangible fixed assets | 22/27 | €536,122 | €648,691 | +€112,569 | +21.0% |
| Land and buildings | 22 | €447,672 | €553,533 | +€105,861 | +23.6% |
| Plant, machinery and equipment | 23 | €57,953 | €55,058 | -€2,895 | -5.0% |
| Furniture and vehicles | 24 | €7,343 | €10,276 | +€2,934 | +40.0% |
| Other tangible fixed assets | 26 | €23,154 | €29,824 | +€6,669 | +28.8% |
| Current assets | 29/58 | €79,403 | €26,290 | -€53,112 | -66.9% |
| Stocks and contracts in progress | 3 | €14,835 | €11,265 | -€3,570 | -24.1% |
| Stocks | 30/36 | €14,835 | €11,265 | -€3,570 | -24.1% |
| Amounts receivable within one year | 40/41 | €13,480 | €10,037 | -€3,443 | -25.5% |
| Trade receivables | 40 | €12,966 | €6,076 | -€6,890 | -53.1% |
| Other amounts receivable | 41 | €514 | €3,961 | +€3,447 | +671% |
| Cash at bank and in hand | 54/58 | €49,488 | €4,192 | -€45,296 | -91.5% |
| Deferred charges and accrued income | 490/1 | €1,599 | €796 | -€804 | -50.2% |
| Total equity and liabilities | 10/49 | €615,524 | €674,981 | +€59,457 | +9.7% |
| Equity | 10/15 | €425,477 | €397,845 | -€27,631 | -6.5% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €406,884 | €379,253 | -€27,631 | -6.8% |
| Tax-exempt reserves | 132 | €27,737 | €0 | -€27,737 | -100% |
| Distributable reserves | 133 | €379,148 | €379,253 | +€106 | 0.0% |
| Provisions and deferred taxes | 16 | €46,832 | €37,586 | -€9,246 | -19.7% |
| Provisions for liabilities and charges | 160/5 | €37,586 | €37,586 | = | 0.0% |
| Pensions and similar obligations | 160 | €37,586 | €37,586 | = | 0.0% |
| Deferred taxes | 168 | €9,246 | €0 | -€9,246 | -100% |
| Amounts payable | 17/49 | €143,216 | €239,549 | +€96,334 | +67.3% |
| Amounts payable after more than one year | 17 | €60,362 | €94,343 | +€33,981 | +56.3% |
| Financial debts | 170/4 | €60,362 | €94,343 | +€33,981 | +56.3% |
| Amounts payable within one year | 42/48 | €80,137 | €122,111 | +€41,974 | +52.4% |
| Current portion of amounts payable after more than one year | 42 | €15,120 | €16,019 | +€900 | +5.9% |
| Financial debts | 43 | - | €14,402 | +€14,402 | |
| Credit institutions | 430/8 | - | €14,402 | +€14,402 | |
| Trade debts | 44 | €8,961 | €25,044 | +€16,083 | +179% |
| Suppliers | 440/4 | €8,961 | €25,044 | +€16,083 | +179% |
| Taxes, remuneration and social security | 45 | €44,091 | €55,153 | +€11,061 | +25.1% |
| Taxes | 450/3 | €23,380 | €28,825 | +€5,445 | +23.3% |
| Remuneration and social security | 454/9 | €20,711 | €26,328 | +€5,616 | +27.1% |
| Other amounts payable | 47/48 | €11,965 | €11,493 | -€473 | -3.9% |
| Accrued charges and deferred income | 492/3 | €2,717 | €23,096 | +€20,379 | +750% |
| Remuneration, social security and pensions | 62 | €139,921 | €143,042 | +€3,121 | +2.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,798 | €50,063 | +€11,265 | +29.0% |
| Other operating charges | 640/8 | €19,849 | €18,852 | -€997 | -5.0% |
| Gross operating margin | 9900 | €298,506 | €185,926 | -€112,580 | -37.7% |
| Operating profit (loss) | 9901 | €99,938 | -€26,031 | -€125,968 | |
| Financial income | 75/76B | €1,120 | €1,119 | -€1 | -0.1% |
| Recurring financial income | 75 | €1,120 | €1,119 | -€1 | -0.1% |
| Financial charges | 65/66B | €5,493 | €10,299 | +€4,806 | +87.5% |
| Recurring financial charges | 65 | €5,493 | €10,299 | +€4,806 | +87.5% |
| Profit (loss) for the period before taxes | 9903 | €95,565 | -€35,210 | -€130,775 | |
| Transfer from deferred taxes | 780 | €1,637 | €9,246 | +€7,609 | +465% |
| Income taxes | 67/77 | €31,015 | €1,667 | -€29,348 | -94.6% |
| Profit (loss) for the period | 9904 | €66,186 | -€27,631 | -€93,817 | |
| Transfer from tax-exempt reserves | 789 | €4,910 | €27,737 | +€22,827 | +465% |
| Profit (loss) for the period to be appropriated | 9905 | €71,096 | €106 | -€70,990 | -99.9% |
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 27 October 2026 via checked.be.