LE TRANSVAAL 40: 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 TRANSVAAL 40
Largest movements
- Receivables within one year +€17,363
up €17,363 (+496%), from €3,502 to €20,866
of which Trade receivables: +€14,775
- Cash +€10,324
up €10,324 (+57.6%), from €17,923 to €28,247
mainly Depreciation (+€15,246) and Trade debts (+€15,001)
- Tangible fixed assets -€8,630
down €8,630 (-16.8%), from €51,230 to €42,600
of which Leasing and similar rights: -€5,524
- Deferred charges and accrued income -€1,961
down €1,961 (-50.0%), from €3,918 to €1,957
- Stocks and contracts +€1,424
up €1,424 (+15.8%), from €9,031 to €10,455
- Trade debts +€15,001
up €15,001 (+170%), from €8,808 to €23,809
- Debts after one year -€14,558
down €14,558 (-20.7%), from €70,407 to €55,848
- Current portion of long-term debt +€6,315
up €6,315 (+79.1%), from €7,981 to €14,296
- Tax, wage and social debts +€6,303
up €6,303 (+86.8%), from €7,259 to €13,562
of which Taxes: +€5,581
- Accrued charges and deferred income +€2,924
up €2,924 (+42.1%), from €6,951 to €9,875
- Depreciation -€3,776
down €3,776 (-19.9%), from €19,023 to €15,246
- Staff costs +€2,712
up €2,712 (+3.7%), from €73,759 to €76,471
- Gross operating margin -€1,735
down €1,735 (-1.6%), from €109,187 to €107,451
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 | €88,590 | €107,110 | +€18,520 | +20.9% |
| Fixed assets | 21/28 | €54,215 | €45,585 | -€8,630 | -15.9% |
| Tangible fixed assets | 22/27 | €51,230 | €42,600 | -€8,630 | -16.8% |
| Land and buildings | 22 | €1,281 | €3,498 | +€2,217 | +173% |
| Plant, machinery and equipment | 23 | €13,155 | €12,280 | -€875 | -6.7% |
| Furniture and vehicles | 24 | €16,046 | €11,598 | -€4,448 | -27.7% |
| Leasing and similar rights | 25 | €20,749 | €15,225 | -€5,524 | -26.6% |
| Financial fixed assets | 28 | €2,985 | €2,985 | = | 0.0% |
| Current assets | 29/58 | €34,374 | €61,525 | +€27,150 | +79.0% |
| Stocks and contracts in progress | 3 | €9,031 | €10,455 | +€1,424 | +15.8% |
| Stocks | 30/36 | €9,031 | €10,455 | +€1,424 | +15.8% |
| Amounts receivable within one year | 40/41 | €3,502 | €20,866 | +€17,363 | +496% |
| Trade receivables | 40 | €3,502 | €18,278 | +€14,775 | +422% |
| Other amounts receivable | 41 | - | €2,588 | +€2,588 | |
| Cash at bank and in hand | 54/58 | €17,923 | €28,247 | +€10,324 | +57.6% |
| Deferred charges and accrued income | 490/1 | €3,918 | €1,957 | -€1,961 | -50.0% |
| Total equity and liabilities | 10/49 | €88,590 | €107,110 | +€18,520 | +20.9% |
| Equity | 10/15 | -€14,246 | -€12,138 | +€2,108 | +14.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€34,706 | -€32,598 | +€2,108 | +6.1% |
| Amounts payable | 17/49 | €102,836 | €119,248 | +€16,412 | +16.0% |
| Amounts payable after more than one year | 17 | €70,407 | €55,848 | -€14,558 | -20.7% |
| Financial debts | 170/4 | €70,407 | €55,848 | -€14,558 | -20.7% |
| Amounts payable within one year | 42/48 | €25,478 | €53,525 | +€28,047 | +110% |
| Current portion of amounts payable after more than one year | 42 | €7,981 | €14,296 | +€6,315 | +79.1% |
| Financial debts | 43 | €490 | €1,346 | +€856 | +175% |
| Credit institutions | 430/8 | €490 | €1,346 | +€856 | +175% |
| Trade debts | 44 | €8,808 | €23,809 | +€15,001 | +170% |
| Suppliers | 440/4 | €8,808 | €23,809 | +€15,001 | +170% |
| Taxes, remuneration and social security | 45 | €7,259 | €13,562 | +€6,303 | +86.8% |
| Taxes | 450/3 | €1,567 | €7,148 | +€5,581 | +356% |
| Remuneration and social security | 454/9 | €5,692 | €6,415 | +€722 | +12.7% |
| Other amounts payable | 47/48 | €940 | €511 | -€429 | -45.7% |
| Accrued charges and deferred income | 492/3 | €6,951 | €9,875 | +€2,924 | +42.1% |
| Remuneration, social security and pensions | 62 | €73,759 | €76,471 | +€2,712 | +3.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,023 | €15,246 | -€3,776 | -19.9% |
| Other operating charges | 640/8 | €2,657 | €2,166 | -€490 | -18.5% |
| Gross operating margin | 9900 | €109,187 | €107,451 | -€1,735 | -1.6% |
| Operating profit (loss) | 9901 | €13,748 | €13,568 | -€180 | -1.3% |
| Financial income | 75/76B | €93 | €0 | -€93 | -99.9% |
| Recurring financial income | 75 | €93 | €0 | -€93 | -99.9% |
| Financial charges | 65/66B | €9,585 | €10,382 | +€798 | +8.3% |
| Recurring financial charges | 65 | €9,585 | €10,382 | +€798 | +8.3% |
| Profit (loss) for the period before taxes | 9903 | €4,256 | €3,186 | -€1,070 | -25.1% |
| Income taxes | 67/77 | €429 | €1,078 | +€649 | +151% |
| Profit (loss) for the period | 9904 | €3,827 | €2,108 | -€1,719 | -44.9% |
| Profit (loss) for the period to be appropriated | 9905 | €3,827 | €2,108 | -€1,719 | -44.9% |
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 29 October 2026 via checked.be.