Rtrans: 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
Rtrans
NACE 49.410, Freight transport by road
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€171,683
2024 · €598,338-€426,655
Equity
€2.6m
2024 · €2.6m+€71,683
Cash
€386,883
2024 · €789,057-€402,174
Balance sheet total
€13.8m
2024 · €13.2m+€612,153
Largest movements
Assets
- Receivables within one year +€809,147
up €809,147 (+43.4%), from €1.9m to €2.7m
of which Trade receivables: +€732,751
- Cash -€402,174
down €402,174 (-51.0%), from €789,057 to €386,883
mainly Investment in fixed assets (net) (-€2.1m) and Receivables within one year (-€809,147)
- Tangible fixed assets +€278,618
up €278,618 (+2.7%), from €10.4m to €10.7m
of which Land and buildings: +€1.0m
Equity and liabilities
- Trade debts +€478,608
up €478,608 (+35.0%), from €1.4m to €1.8m
Income statement
- Depreciation +€205,839
up €205,839 (+12.5%), from €1.6m to €1.9m
- Gross operating margin -€110,421
down €110,421 (-1.8%), from €6.2m to €6.1m
- Staff costs +€82,214
up €82,214 (+3.0%), from €2.8m to €2.8m
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
€598,338
Gross operating margin
-€110,421
Staff costs
-€82,214
Depreciation
-€205,839
Write-downs
+€24,889
Other operating charges
-€30,186
Other operating items
+€4,874
Financial income
+€1,131
Financial charges
-€9,883
Taxes
-€20,342
Deferred taxes and other
+€1,335
Result 2025
€171,683
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
+€1.8m
Investment
-€2.1m
Financing
-€111,945
Cash 2024
€789,057
From operations (derived)
+€1.8m
Net result for the year
+€171,683
Depreciation
+€1.9m
Smaller working-capital items
+€2,655
Receivables within one year
-€809,147
Deferred charges and accrued income
+€74,013
Trade debts
+€478,608
Tax, wage and social debts
+€72,569
Investment (derived)
-€2.1m
Investment in fixed assets (net)
-€2.1m
Financing
-€111,945
Debts after one year
-€136,011
Current portion of long-term debt
+€123,340
Short-term financial debts
+€726
Contributions, distributions and other
-€100,000
Cash 2025
€386,883
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €13,184,008 | €13,796,161 | +€612,153 | +4.6% |
| Fixed assets | 21/28 | €10,388,170 | €10,668,779 | +€280,609 | +2.7% |
| Tangible fixed assets | 22/27 | €10,387,530 | €10,666,148 | +€278,618 | +2.7% |
| Land and buildings | 22 | €2,957,646 | €4,001,782 | +€1.0m | +35.3% |
| Plant, machinery and equipment | 23 | €153,636 | €110,921 | -€42,715 | -27.8% |
| Furniture and vehicles | 24 | €475,052 | €522,570 | +€47,517 | +10.0% |
| Leasing and similar rights | 25 | €6,801,195 | €6,030,875 | -€770,320 | -11.3% |
| Financial fixed assets | 28 | €640 | €2,631 | +€1,991 | +311% |
| Current assets | 29/58 | €2,795,838 | €3,127,382 | +€331,544 | +11.9% |
| Stocks and contracts in progress | 3 | €16,589 | €15,172 | -€1,417 | -8.5% |
| Stocks | 30/36 | €16,589 | €15,172 | -€1,417 | -8.5% |
| Amounts receivable within one year | 40/41 | €1,864,094 | €2,673,242 | +€809,147 | +43.4% |
| Trade receivables | 40 | €1,848,615 | €2,581,366 | +€732,751 | +39.6% |
| Other amounts receivable | 41 | €15,479 | €91,875 | +€76,396 | +494% |
| Cash at bank and in hand | 54/58 | €789,057 | €386,883 | -€402,174 | -51.0% |
| Deferred charges and accrued income | 490/1 | €126,097 | €52,084 | -€74,013 | -58.7% |
| Total equity and liabilities | 10/49 | €13,184,008 | €13,796,161 | +€612,153 | +4.6% |
| Equity | 10/15 | €2,562,578 | €2,634,261 | +€71,683 | +2.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €2,543,577 | €2,615,041 | +€71,464 | +2.8% |
| Tax-exempt reserves | 132 | €407,577 | €407,041 | -€536 | -0.1% |
| Distributable reserves | 133 | €2,136,000 | €2,208,000 | +€72,000 | +3.4% |
| Profit (loss) carried forward | 14 | €401 | €620 | +€219 | +54.6% |
| Provisions and deferred taxes | 16 | €1,157 | €978 | -€179 | -15.4% |
| Deferred taxes | 168 | €1,157 | €978 | -€179 | -15.4% |
| Amounts payable | 17/49 | €10,620,273 | €11,160,921 | +€540,648 | +5.1% |
| Amounts payable after more than one year | 17 | €6,998,593 | €6,862,581 | -€136,011 | -1.9% |
| Financial debts | 170/4 | €6,998,593 | €6,862,581 | -€136,011 | -1.9% |
| Amounts payable within one year | 42/48 | €3,619,054 | €4,294,310 | +€675,256 | +18.7% |
| Current portion of amounts payable after more than one year | 42 | €1,493,469 | €1,616,809 | +€123,340 | +8.3% |
| Financial debts | 43 | €417,265 | €417,992 | +€726 | +0.2% |
| Credit institutions | 430/8 | €417,265 | €417,992 | +€726 | +0.2% |
| Trade debts | 44 | €1,368,513 | €1,847,121 | +€478,608 | +35.0% |
| Suppliers | 440/4 | €1,368,513 | €1,847,121 | +€478,608 | +35.0% |
| Taxes, remuneration and social security | 45 | €339,807 | €412,376 | +€72,569 | +21.4% |
| Taxes | 450/3 | €105,323 | €163,746 | +€58,422 | +55.5% |
| Remuneration and social security | 454/9 | €234,483 | €248,630 | +€14,147 | +6.0% |
| Other amounts payable | 47/48 | - | €13 | +€13 | |
| Accrued charges and deferred income | 492/3 | €2,626 | €4,030 | +€1,403 | +53.4% |
| Non-recurring operating income | 76A | €158,167 | €6,500 | -€151,667 | -95.9% |
| Remuneration, social security and pensions | 62 | €2,762,999 | €2,845,214 | +€82,214 | +3.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,649,576 | €1,855,415 | +€205,839 | +12.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €25,305 | €416 | -€24,889 | -98.4% |
| Other operating charges | 640/8 | €687,923 | €718,109 | +€30,186 | +4.4% |
| Non-recurring operating charges | 66A | €32,967 | €28,094 | -€4,874 | -14.8% |
| Gross operating margin | 9900 | €6,231,652 | €6,121,231 | -€110,421 | -1.8% |
| Operating profit (loss) | 9901 | €1,072,880 | €673,983 | -€398,897 | -37.2% |
| Financial income | 75/76B | €0 | €1,131 | +€1,131 | |
| Recurring financial income | 75 | €0 | €1,131 | +€1,131 | |
| Financial charges | 65/66B | €424,974 | €434,857 | +€9,883 | +2.3% |
| Recurring financial charges | 65 | €424,974 | €434,857 | +€9,883 | +2.3% |
| Profit (loss) for the period before taxes | 9903 | €647,906 | €240,257 | -€407,648 | -62.9% |
| Transfer from deferred taxes | 780 | €93 | €179 | +€85 | +91.6% |
| Transfer to deferred taxes | 680 | €1,250 | €0 | -€1,250 | -100% |
| Income taxes | 67/77 | €48,411 | €68,753 | +€20,342 | +42.0% |
| Profit (loss) for the period | 9904 | €598,338 | €171,683 | -€426,655 | -71.3% |
| Transfer from tax-exempt reserves | 789 | €280 | €536 | +€256 | +91.6% |
| Transfer to tax-exempt reserves | 689 | €17,292 | €0 | -€17,292 | -100% |
| Profit (loss) for the period to be appropriated | 9905 | €581,326 | €172,219 | -€409,107 | -70.4% |
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 13 October 2026 via checked.be.