M - TRANS: 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.
M - TRANS
Largest movements
- Current investments +€500,000
up €500,000 (+38,607%), from €1,295 to €501,295
- Cash -€316,420
down €316,420 (-52.3%), from €604,729 to €288,309
mainly Current investments (-€500,000) and Trade debts (-€56,358)
- Tangible fixed assets -€107,834
down €107,834 (-23.0%), from €469,575 to €361,740
- Receivables within one year -€16,103
down €16,103 (-10.5%), from €153,182 to €137,079
of which Trade receivables: -€34,863
- Tax, wage and social debts +€72,190
up €72,190 (+104%), from €69,447 to €141,637
of which Remuneration and social security: +€67,467
- Trade debts -€56,358
down €56,358 (-55.0%), from €102,560 to €46,202
- Profit (loss) carried forward +€43,812
up €43,812 (+30.8%), from €142,386 to €186,198
- Turnover +€98,911
up €98,911 (+10.2%), from €970,189 to €1.1m
- Staff costs +€91,426
up €91,426 (+18.4%), from €495,830 to €587,255
- Services and other goods -€26,137
down €26,137 (-8.7%), from €298,919 to €272,783
- Depreciation +€22,302
up €22,302 (+26.1%), from €85,533 to €107,834
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 | €1,229,542 | €1,289,185 | +€59,643 | +4.9% |
| Fixed assets | 21/28 | €470,337 | €362,503 | -€107,834 | -22.9% |
| Tangible fixed assets | 22/27 | €469,575 | €361,740 | -€107,834 | -23.0% |
| Furniture and vehicles | 24 | €469,575 | €361,740 | -€107,834 | -23.0% |
| Financial fixed assets | 28 | €762 | €762 | = | 0.0% |
| Other financial fixed assets | 284/8 | €762 | €762 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €762 | €762 | = | 0.0% |
| Current assets | 29/58 | €759,205 | €926,683 | +€167,477 | +22.1% |
| Amounts receivable within one year | 40/41 | €153,182 | €137,079 | -€16,103 | -10.5% |
| Trade receivables | 40 | €147,132 | €112,270 | -€34,863 | -23.7% |
| Other amounts receivable | 41 | €6,049 | €24,809 | +€18,760 | +310% |
| Current investments | 50/53 | €1,295 | €501,295 | +€500,000 | +38,607% |
| Other investments | 51/53 | €1,295 | €501,295 | +€500,000 | +38,607% |
| Cash at bank and in hand | 54/58 | €604,729 | €288,309 | -€316,420 | -52.3% |
| Total equity and liabilities | 10/49 | €1,229,542 | €1,289,185 | +€59,643 | +4.9% |
| Equity | 10/15 | €707,536 | €751,347 | +€43,812 | +6.2% |
| Contributions | 10/11 | €496,000 | €496,000 | = | 0.0% |
| Capital | 10 | €496,000 | €496,000 | = | 0.0% |
| Issued capital | 100 | €496,000 | €496,000 | = | 0.0% |
| Reserves | 13 | €69,150 | €69,150 | = | 0.0% |
| Non-distributable reserves | 130/1 | €49,600 | €49,600 | = | 0.0% |
| Legal reserve | 130 | €49,600 | €49,600 | = | 0.0% |
| Distributable reserves | 133 | €19,550 | €19,550 | = | 0.0% |
| Profit (loss) carried forward | 14 | €142,386 | €186,198 | +€43,812 | +30.8% |
| Amounts payable | 17/49 | €522,007 | €537,838 | +€15,832 | +3.0% |
| Amounts payable within one year | 42/48 | €522,007 | €537,838 | +€15,832 | +3.0% |
| Trade debts | 44 | €102,560 | €46,202 | -€56,358 | -55.0% |
| Suppliers | 440/4 | €102,560 | €46,202 | -€56,358 | -55.0% |
| Taxes, remuneration and social security | 45 | €69,447 | €141,637 | +€72,190 | +104% |
| Taxes | 450/3 | - | €4,723 | +€4,723 | |
| Remuneration and social security | 454/9 | €69,447 | €136,914 | +€67,467 | +97.1% |
| Other amounts payable | 47/48 | €350,000 | €350,000 | = | 0.0% |
| Operating income | 70/76A | €1,014,806 | €1,086,170 | +€71,364 | +7.0% |
| Turnover | 70 | €970,189 | €1,069,100 | +€98,911 | +10.2% |
| Other operating income | 74 | €12,105 | €17,070 | +€4,966 | +41.0% |
| Non-recurring operating income | 76A | €32,512 | - | -€32,512 | |
| Operating charges | 60/66A | €937,047 | €1,031,100 | +€94,053 | +10.0% |
| Services and other goods | 61 | €298,919 | €272,783 | -€26,137 | -8.7% |
| Remuneration, social security and pensions | 62 | €495,830 | €587,255 | +€91,426 | +18.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €85,533 | €107,834 | +€22,302 | +26.1% |
| Other operating charges | 640/8 | €56,765 | €63,228 | +€6,463 | +11.4% |
| Operating profit (loss) | 9901 | €77,759 | €55,071 | -€22,689 | -29.2% |
| Financial income | 75/76B | €11,208 | €5,919 | -€5,289 | -47.2% |
| Recurring financial income | 75 | €11,208 | €5,919 | -€5,289 | -47.2% |
| Income from current assets | 751 | €11,208 | €5,919 | -€5,289 | -47.2% |
| Other financial income | 752/9 | €0 | - | -€0 | |
| Financial charges | 65/66B | €752 | €896 | +€143 | +19.1% |
| Recurring financial charges | 65 | €752 | €896 | +€143 | +19.1% |
| Other financial charges | 652/9 | €752 | €896 | +€143 | +19.1% |
| Profit (loss) for the period before taxes | 9903 | €88,215 | €60,094 | -€28,122 | -31.9% |
| Income taxes | 67/77 | €19,772 | €16,282 | -€3,490 | -17.7% |
| Taxes | 670/3 | €19,772 | €16,282 | -€3,490 | -17.7% |
| Profit (loss) for the period | 9904 | €68,443 | €43,812 | -€24,632 | -36.0% |
| Profit (loss) for the period to be appropriated | 9905 | €68,443 | €43,812 | -€24,632 | -36.0% |
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 13 October 2026 via checked.be.