LE TRAM LIEGE: 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.
LE TRAM LIEGE
Largest movements
- Tangible fixed assets -€24,202
down €24,202 (-34.2%), from €70,747 to €46,546
of which Plant, machinery and equipment: -€48,357
- Receivables within one year -€7,530
down €7,530 (-96.2%), from €7,828 to €298
of which Other amounts receivable: -€4,818
- Cash -€2,614
down €2,614 (-69.3%), from €3,770 to €1,156
mainly Contributions, distributions and other (-€15,890) and Net result for the year (-€12,854)
- Profit (loss) carried forward -€28,743
down €28,743 (-154%), from -€18,714 to -€47,457
- Tax, wage and social debts -€3,726
down €3,726 (-61.7%), from €6,039 to €2,313
of which Taxes: -€4,803
- Trade debts -€1,656
down €1,656 (-76.0%), from €2,179 to €523
- Staff costs -€17,035
down €17,035 (-97.6%), from €17,457 to €422
- Depreciation +€9,450
new in 2025: €9,450
- Gross operating margin -€1,747
down €1,747 (-2,374%), from -€74 to -€1,820
- Other operating charges -€265
down €265 (-24.0%), from €1,105 to €840
- Financial charges +€244
up €244 (+313%), from €78 to €322
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 | €82,879 | €48,000 | -€34,879 | -42.1% |
| Fixed assets | 21/28 | €70,747 | €46,546 | -€24,202 | -34.2% |
| Tangible fixed assets | 22/27 | €70,747 | €46,546 | -€24,202 | -34.2% |
| Plant, machinery and equipment | 23 | €57,759 | €9,402 | -€48,357 | -83.7% |
| Furniture and vehicles | 24 | €1,684 | €16,920 | +€15,236 | +905% |
| Other tangible fixed assets | 26 | €11,304 | €20,223 | +€8,919 | +78.9% |
| Current assets | 29/58 | €12,131 | €1,454 | -€10,677 | -88.0% |
| Amounts receivable within one year | 40/41 | €7,828 | €298 | -€7,530 | -96.2% |
| Trade receivables | 40 | €3,009 | €298 | -€2,711 | -90.1% |
| Other amounts receivable | 41 | €4,818 | €0 | -€4,818 | -100% |
| Cash at bank and in hand | 54/58 | €3,770 | €1,156 | -€2,614 | -69.3% |
| Deferred charges and accrued income | 490/1 | €533 | €0 | -€533 | -100% |
| Total equity and liabilities | 10/49 | €82,879 | €48,000 | -€34,879 | -42.1% |
| Equity | 10/15 | -€13,714 | -€42,457 | -€28,743 | -210% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€18,714 | -€47,457 | -€28,743 | -154% |
| Amounts payable | 17/49 | €96,592 | €90,457 | -€6,135 | -6.4% |
| Amounts payable within one year | 42/48 | €95,898 | €90,457 | -€5,441 | -5.7% |
| Trade debts | 44 | €2,179 | €523 | -€1,656 | -76.0% |
| Suppliers | 440/4 | €2,179 | €523 | -€1,656 | -76.0% |
| Taxes, remuneration and social security | 45 | €6,039 | €2,313 | -€3,726 | -61.7% |
| Taxes | 450/3 | €5,356 | €553 | -€4,803 | -89.7% |
| Remuneration and social security | 454/9 | €684 | €1,760 | +€1,076 | +157% |
| Other amounts payable | 47/48 | €87,680 | €87,620 | -€59 | -0.1% |
| Accrued charges and deferred income | 492/3 | €694 | - | -€694 | |
| Turnover | 70 | - | €0 | = | |
| Non-recurring operating income | 76A | - | €2,522 | +€2,522 | |
| Remuneration, social security and pensions | 62 | €17,457 | €422 | -€17,035 | -97.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €9,450 | +€9,450 | |
| Other operating charges | 640/8 | €1,105 | €840 | -€265 | -24.0% |
| Gross operating margin | 9900 | -€74 | -€1,820 | -€1,747 | -2,374% |
| Operating profit (loss) | 9901 | -€18,636 | -€12,532 | +€6,104 | +32.8% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €78 | €322 | +€244 | +313% |
| Recurring financial charges | 65 | €78 | €322 | +€244 | +313% |
| Profit (loss) for the period before taxes | 9903 | -€18,714 | -€12,854 | +€5,860 | +31.3% |
| Profit (loss) for the period | 9904 | -€18,714 | -€12,854 | +€5,860 | +31.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€18,714 | -€12,854 | +€5,860 | +31.3% |
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 19 October 2026 via checked.be.