NED TRANS: 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.
NED TRANS
Largest movements
- Tangible fixed assets -€13,610
down €13,610 (-22.9%), from €59,497 to €45,887
- Cash -€11,653
down €11,653 (-28.8%), from €40,513 to €28,860
mainly Contributions, distributions and other (-€20,000) and Debts after one year (-€13,242)
- Receivables within one year +€7,545
up €7,545 (+30.6%), from €24,660 to €32,204
- Deferred charges and accrued income -€1,999
down €1,999 (-88.9%), from €2,250 to €250
- Debts after one year -€13,242
down €13,242 (-27.3%), from €48,502 to €35,259
- Tax, wage and social debts -€10,280
down €10,280 (-63.3%), from €16,247 to €5,967
- Profit (loss) carried forward +€8,411
up €8,411 (+22.6%), from €37,278 to €45,689
- Other debts -€3,562
no longer reported in 2025 (was €3,562)
- Gross operating margin +€18,244
up €18,244 (+41.7%), from €43,783 to €62,027
- Other operating charges +€4,825
up €4,825 (+58.4%), from €8,266 to €13,091
- Depreciation +€2,974
up €2,974 (+28.0%), from €10,636 to €13,610
- Taxes -€2,653
down €2,653 (-41.1%), from €6,449 to €3,796
- Financial charges +€707
up €707 (+26.9%), from €2,626 to €3,333
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 | €135,920 | €116,202 | -€19,718 | -14.5% |
| Fixed assets | 21/28 | €68,497 | €54,887 | -€13,610 | -19.9% |
| Tangible fixed assets | 22/27 | €59,497 | €45,887 | -€13,610 | -22.9% |
| Furniture and vehicles | 24 | €59,497 | €45,887 | -€13,610 | -22.9% |
| Financial fixed assets | 28 | €9,000 | €9,000 | = | 0.0% |
| Current assets | 29/58 | €67,422 | €61,315 | -€6,108 | -9.1% |
| Amounts receivable within one year | 40/41 | €24,660 | €32,204 | +€7,545 | +30.6% |
| Trade receivables | 40 | €24,660 | €32,204 | +€7,545 | +30.6% |
| Cash at bank and in hand | 54/58 | €40,513 | €28,860 | -€11,653 | -28.8% |
| Deferred charges and accrued income | 490/1 | €2,250 | €250 | -€1,999 | -88.9% |
| Total equity and liabilities | 10/49 | €135,920 | €116,202 | -€19,718 | -14.5% |
| Equity | 10/15 | €52,278 | €60,689 | +€8,411 | +16.1% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €37,278 | €45,689 | +€8,411 | +22.6% |
| Amounts payable | 17/49 | €83,642 | €55,513 | -€28,129 | -33.6% |
| Amounts payable after more than one year | 17 | €48,502 | €35,259 | -€13,242 | -27.3% |
| Financial debts | 170/4 | €48,502 | €35,259 | -€13,242 | -27.3% |
| Amounts payable within one year | 42/48 | €35,140 | €20,253 | -€14,887 | -42.4% |
| Current portion of amounts payable after more than one year | 42 | €12,516 | €12,516 | = | 0.0% |
| Trade debts | 44 | €2,815 | €1,770 | -€1,045 | -37.1% |
| Suppliers | 440/4 | €2,815 | €1,770 | -€1,045 | -37.1% |
| Taxes, remuneration and social security | 45 | €16,247 | €5,967 | -€10,280 | -63.3% |
| Taxes | 450/3 | €16,247 | €5,967 | -€10,280 | -63.3% |
| Other amounts payable | 47/48 | €3,562 | - | -€3,562 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,636 | €13,610 | +€2,974 | +28.0% |
| Other operating charges | 640/8 | €8,266 | €13,091 | +€4,825 | +58.4% |
| Gross operating margin | 9900 | €43,783 | €62,027 | +€18,244 | +41.7% |
| Operating profit (loss) | 9901 | €24,880 | €35,326 | +€10,445 | +42.0% |
| Financial income | 75/76B | €0 | €215 | +€215 | +59602.8% |
| Recurring financial income | 75 | €0 | €215 | +€215 | +59602.8% |
| Financial charges | 65/66B | €2,626 | €3,333 | +€707 | +26.9% |
| Recurring financial charges | 65 | €2,626 | €3,333 | +€707 | +26.9% |
| Profit (loss) for the period before taxes | 9903 | €22,255 | €32,207 | +€9,953 | +44.7% |
| Income taxes | 67/77 | €6,449 | €3,796 | -€2,653 | -41.1% |
| Profit (loss) for the period | 9904 | €15,806 | €28,411 | +€12,606 | +79.8% |
| Profit (loss) for the period to be appropriated | 9905 | €15,806 | €28,411 | +€12,606 | +79.8% |
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 6 October 2026 via checked.be.