NEW TRM: 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.
What changed
NEW TRM
NACE 49.410, Freight transport by road
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€53,451
2024 · €62,059-€8,608
Equity
€709,457
2024 · €706,006+€3,451
Cash
€41,898
2024 · €58,769-€16,871
Balance sheet total
€3.2m
2024 · €3.5m-€330,090
Largest movements
Assets
- Tangible fixed assets -€294,909
down €294,909 (-15.3%), from €1.9m to €1.6m
of which Furniture and vehicles: -€214,323
- Receivables after one year -€158,200
down €158,200 (-51.7%), from €306,000 to €147,800
- Receivables within one year +€154,567
up €154,567 (+17.1%), from €905,784 to €1.1m
of which Trade receivables: +€187,182
Equity and liabilities
- Other debts -€220,843
no longer reported in 2025 (was €220,843)
- Debts after one year -€211,618
down €211,618 (-18.3%), from €1.2m to €947,537
- Trade debts +€80,204
up €80,204 (+18.6%), from €432,164 to €512,368
Income statement
- Depreciation +€61,754
up €61,754 (+10.0%), from €617,705 to €679,460
- Other operating charges -€47,969
down €47,969 (-67.6%), from €70,958 to €22,988
- Staff costs +€27,937
up €27,937 (+1.6%), from €1.8m to €1.8m
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.
Result 2024
€62,059
Gross operating margin
+€21,364
Staff costs
-€27,937
Depreciation
-€61,754
Other operating charges
+€47,969
Financial income
+€2,902
Financial charges
+€9,414
Taxes
+€722
Deferred taxes and other
-€1,289
Result 2025
€53,451
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€636,438
Investment
-€408,550
Financing
-€244,760
Cash 2024
€58,769
From operations (derived)
+€636,438
Net result for the year
+€53,451
Depreciation
+€679,460
Receivables after one year
+€158,200
Stocks and contracts
+€12,493
Receivables within one year
-€154,567
Deferred charges and accrued income
+€26,184
Provisions
+€9,900
Trade debts
+€80,204
Tax, wage and social debts
-€8,042
Other debts
-€220,843
Investment (derived)
-€408,550
Investment in fixed assets (net)
-€384,550
Current investments
-€24,000
Financing
-€244,760
Debts after one year
-€211,618
Current portion of long-term debt
+€4,221
Short-term financial debts
+€12,637
Contributions, distributions and other
-€50,000
Cash 2025
€41,898
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,483,750 | €3,153,660 | -€330,090 | -9.5% |
| Fixed assets | 21/28 | €1,948,270 | €1,653,361 | -€294,909 | -15.1% |
| Tangible fixed assets | 22/27 | €1,933,020 | €1,638,111 | -€294,909 | -15.3% |
| Plant, machinery and equipment | 23 | €24,103 | €12,273 | -€11,830 | -49.1% |
| Furniture and vehicles | 24 | €487,165 | €272,842 | -€214,323 | -44.0% |
| Leasing and similar rights | 25 | €1,421,753 | €1,352,996 | -€68,756 | -4.8% |
| Financial fixed assets | 28 | €15,250 | €15,250 | = | 0.0% |
| Current assets | 29/58 | €1,535,480 | €1,500,299 | -€35,181 | -2.3% |
| Amounts receivable after more than one year | 29 | €306,000 | €147,800 | -€158,200 | -51.7% |
| Other amounts receivable | 291 | €306,000 | €147,800 | -€158,200 | -51.7% |
| Stocks and contracts in progress | 3 | €86,449 | €73,956 | -€12,493 | -14.5% |
| Stocks | 30/36 | €86,449 | €73,956 | -€12,493 | -14.5% |
| Amounts receivable within one year | 40/41 | €905,784 | €1,060,351 | +€154,567 | +17.1% |
| Trade receivables | 40 | €815,021 | €1,002,203 | +€187,182 | +23.0% |
| Other amounts receivable | 41 | €90,763 | €58,148 | -€32,615 | -35.9% |
| Current investments | 50/53 | €69,000 | €93,000 | +€24,000 | +34.8% |
| Cash at bank and in hand | 54/58 | €58,769 | €41,898 | -€16,871 | -28.7% |
| Deferred charges and accrued income | 490/1 | €109,478 | €83,295 | -€26,184 | -23.9% |
| Total equity and liabilities | 10/49 | €3,483,750 | €3,153,660 | -€330,090 | -9.5% |
| Equity | 10/15 | €706,006 | €709,457 | +€3,451 | +0.5% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €579,085 | €608,786 | +€29,701 | +5.1% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €572,885 | €602,586 | +€29,701 | +5.2% |
| Profit (loss) carried forward | 14 | €64,921 | €38,671 | -€26,250 | -40.4% |
| Provisions and deferred taxes | 16 | €148,803 | €158,703 | +€9,900 | +6.7% |
| Deferred taxes | 168 | €148,803 | €158,703 | +€9,900 | +6.7% |
| Amounts payable | 17/49 | €2,628,941 | €2,285,500 | -€343,441 | -13.1% |
| Amounts payable after more than one year | 17 | €1,159,155 | €947,537 | -€211,618 | -18.3% |
| Financial debts | 170/4 | €1,159,155 | €947,537 | -€211,618 | -18.3% |
| Amounts payable within one year | 42/48 | €1,469,786 | €1,337,963 | -€131,823 | -9.0% |
| Current portion of amounts payable after more than one year | 42 | €585,855 | €590,076 | +€4,221 | +0.7% |
| Financial debts | 43 | €90,180 | €102,817 | +€12,637 | +14.0% |
| Credit institutions | 430/8 | €90,180 | €102,817 | +€12,637 | +14.0% |
| Trade debts | 44 | €432,164 | €512,368 | +€80,204 | +18.6% |
| Suppliers | 440/4 | €432,164 | €512,368 | +€80,204 | +18.6% |
| Taxes, remuneration and social security | 45 | €140,744 | €132,702 | -€8,042 | -5.7% |
| Taxes | 450/3 | €3,515 | €28,372 | +€24,858 | +707% |
| Remuneration and social security | 454/9 | €137,230 | €104,330 | -€32,900 | -24.0% |
| Other amounts payable | 47/48 | €220,843 | - | -€220,843 | |
| Remuneration, social security and pensions | 62 | €1,751,264 | €1,779,201 | +€27,937 | +1.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €617,705 | €679,460 | +€61,754 | +10.0% |
| Other operating charges | 640/8 | €70,958 | €22,988 | -€47,969 | -67.6% |
| Gross operating margin | 9900 | €2,603,615 | €2,624,979 | +€21,364 | +0.8% |
| Operating profit (loss) | 9901 | €163,688 | €143,330 | -€20,358 | -12.4% |
| Financial income | 75/76B | €672 | €3,574 | +€2,902 | +432% |
| Recurring financial income | 75 | €672 | €3,574 | +€2,902 | +432% |
| Financial charges | 65/66B | €91,848 | €82,434 | -€9,414 | -10.2% |
| Recurring financial charges | 65 | €91,848 | €82,434 | -€9,414 | -10.2% |
| Profit (loss) for the period before taxes | 9903 | €72,512 | €64,470 | -€8,042 | -11.1% |
| Transfer to deferred taxes | 680 | €8,612 | €9,900 | +€1,289 | +15.0% |
| Income taxes | 67/77 | €1,841 | €1,119 | -€722 | -39.2% |
| Profit (loss) for the period | 9904 | €62,059 | €53,451 | -€8,608 | -13.9% |
| Transfer to tax-exempt reserves | 689 | €25,835 | €29,701 | +€3,866 | +15.0% |
| Profit (loss) for the period to be appropriated | 9905 | €36,223 | €23,750 | -€12,474 | -34.4% |
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 17 October 2026 via checked.be.