S-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.
What changed
S-TRANS
NACE 49.410, Freight transport by road
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€8,790
2024 · €10,462-€1,672
Equity
€105,536
2024 · €96,746+€8,790
Cash
€4,804
2024 · €7,113-€2,309
Balance sheet total
€913,293
2024 · €754,480+€158,813
Largest movements
Assets
- Receivables within one year +€172,071
up €172,071 (+440%), from €39,073 to €211,144
of which Trade receivables: +€175,525
- Tangible fixed assets -€9,304
down €9,304 (-1.4%), from €667,287 to €657,983
of which Land and buildings: -€16,058
Equity and liabilities
- Debts after one year +€81,974
up €81,974 (+18.1%), from €453,934 to €535,908
of which Other amounts payable: +€110,000
- Short-term financial debts +€59,270
up €59,270 (+994%), from €5,965 to €65,235
- Trade debts +€17,267
up €17,267 (+17.9%), from €96,537 to €113,805
Income statement
- Staff costs +€19,540
up €19,540 (+8.4%), from €231,662 to €251,201
- Gross operating margin +€16,107
up €16,107 (+5.3%), from €302,927 to €319,035
- Depreciation -€4,508
down €4,508 (-17.7%), from €25,498 to €20,990
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
€10,462
Gross operating margin
+€16,107
Staff costs
-€19,540
Depreciation
+€4,508
Other operating charges
-€2,847
Other operating items
-€100
Financial income
+€126
Financial charges
-€179
Taxes
+€252
Result 2025
€8,790
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
-€131,503
Investment
-€11,686
Financing
+€140,879
Cash 2024
€7,113
From operations (derived)
-€131,503
Net result for the year
+€8,790
Depreciation
+€20,990
Receivables within one year
-€172,071
Deferred charges and accrued income
+€1,644
Trade debts
+€17,267
Tax, wage and social debts
-€5,172
Other debts
+€94
Accrued charges and deferred income
-€3,046
Investment (derived)
-€11,686
Investment in fixed assets (net)
-€11,686
Financing
+€140,879
Debts after one year
+€81,974
Current portion of long-term debt
-€364
Short-term financial debts
+€59,270
Cash 2025
€4,804
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €754,480 | €913,293 | +€158,813 | +21.0% |
| Fixed assets | 21/28 | €688,027 | €678,723 | -€9,304 | -1.4% |
| Tangible fixed assets | 22/27 | €667,287 | €657,983 | -€9,304 | -1.4% |
| Land and buildings | 22 | €661,561 | €645,503 | -€16,058 | -2.4% |
| Plant, machinery and equipment | 23 | €78 | €5,119 | +€5,041 | +6,460% |
| Furniture and vehicles | 24 | €5,648 | €7,361 | +€1,713 | +30.3% |
| Financial fixed assets | 28 | €20,740 | €20,740 | = | 0.0% |
| Current assets | 29/58 | €66,452 | €234,570 | +€168,117 | +253% |
| Amounts receivable within one year | 40/41 | €39,073 | €211,144 | +€172,071 | +440% |
| Trade receivables | 40 | €30,973 | €206,498 | +€175,525 | +567% |
| Other amounts receivable | 41 | €8,100 | €4,646 | -€3,454 | -42.6% |
| Cash at bank and in hand | 54/58 | €7,113 | €4,804 | -€2,309 | -32.5% |
| Deferred charges and accrued income | 490/1 | €20,266 | €18,622 | -€1,644 | -8.1% |
| Total equity and liabilities | 10/49 | €754,480 | €913,293 | +€158,813 | +21.0% |
| Equity | 10/15 | €96,746 | €105,536 | +€8,790 | +9.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €47,495 | €56,285 | +€8,790 | +18.5% |
| Distributable reserves | 133 | €47,495 | €56,285 | +€8,790 | +18.5% |
| Profit (loss) carried forward | 14 | €43,051 | €43,051 | +€0 | 0.0% |
| Amounts payable | 17/49 | €657,734 | €807,757 | +€150,023 | +22.8% |
| Amounts payable after more than one year | 17 | €453,934 | €535,908 | +€81,974 | +18.1% |
| Financial debts | 170/4 | €453,934 | €425,908 | -€28,026 | -6.2% |
| Other amounts payable | 178/9 | - | €110,000 | +€110,000 | |
| Amounts payable within one year | 42/48 | €200,658 | €271,753 | +€71,095 | +35.4% |
| Current portion of amounts payable after more than one year | 42 | €27,119 | €26,755 | -€364 | -1.3% |
| Financial debts | 43 | €5,965 | €65,235 | +€59,270 | +994% |
| Credit institutions | 430/8 | €5,965 | €65,235 | +€59,270 | +994% |
| Trade debts | 44 | €96,537 | €113,805 | +€17,267 | +17.9% |
| Suppliers | 440/4 | €96,537 | €113,805 | +€17,267 | +17.9% |
| Taxes, remuneration and social security | 45 | €67,605 | €62,433 | -€5,172 | -7.6% |
| Taxes | 450/3 | €29,111 | €20,367 | -€8,745 | -30.0% |
| Remuneration and social security | 454/9 | €38,494 | €42,067 | +€3,573 | +9.3% |
| Other amounts payable | 47/48 | €3,431 | €3,525 | +€94 | +2.7% |
| Accrued charges and deferred income | 492/3 | €3,142 | €96 | -€3,046 | -96.9% |
| Remuneration, social security and pensions | 62 | €231,662 | €251,201 | +€19,540 | +8.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,498 | €20,990 | -€4,508 | -17.7% |
| Other operating charges | 640/8 | €7,731 | €10,578 | +€2,847 | +36.8% |
| Non-recurring operating charges | 66A | - | €100 | +€100 | |
| Gross operating margin | 9900 | €302,927 | €319,035 | +€16,107 | +5.3% |
| Operating profit (loss) | 9901 | €38,037 | €36,166 | -€1,871 | -4.9% |
| Financial income | 75/76B | €26 | €152 | +€126 | +483% |
| Recurring financial income | 75 | €26 | €152 | +€126 | +483% |
| Financial charges | 65/66B | €18,165 | €18,344 | +€179 | +1.0% |
| Recurring financial charges | 65 | €18,165 | €18,344 | +€179 | +1.0% |
| Profit (loss) for the period before taxes | 9903 | €19,898 | €17,974 | -€1,924 | -9.7% |
| Income taxes | 67/77 | €9,436 | €9,184 | -€252 | -2.7% |
| Profit (loss) for the period | 9904 | €10,462 | €8,790 | -€1,672 | -16.0% |
| Profit (loss) for the period to be appropriated | 9905 | €10,462 | €8,790 | -€1,672 | -16.0% |
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 17 October 2026 via checked.be.