T-Rans & K: 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.
T-Rans & K
Largest movements
- Tangible fixed assets +€148,945
up €148,945 (+160%), from €93,163 to €242,109
of which Leasing and similar rights: +€147,661
- Receivables within one year +€20,065
up €20,065 (+30.8%), from €65,113 to €85,178
of which Trade receivables: +€21,810
- Cash -€8,496
down €8,496 (-22.1%), from €38,361 to €29,865
mainly Investment in fixed assets (net) (-€174,327) and Receivables within one year (-€20,065)
- Debts after one year +€115,786
up €115,786 (+225%), from €51,411 to €167,198
- Current portion of long-term debt +€20,505
up €20,505 (+148%), from €13,863 to €34,368
- Profit (loss) carried forward +€17,840
up €17,840 (+17.1%), from €104,384 to €122,224
- Trade debts +€12,057
up €12,057 (+124%), from €9,762 to €21,820
- Other debts -€4,750
no longer reported in 2025 (was €4,750)
- Gross operating margin +€24,370
up €24,370 (+94.8%), from €25,710 to €50,080
- Depreciation +€13,646
up €13,646 (+116%), from €11,736 to €25,381
- Financial charges +€2,194
up €2,194 (+88.3%), from €2,484 to €4,678
- Taxes -€837
down €837 (-37.3%), from €2,243 to €1,405
From the 31-12-2024 result to the 31-12-2025 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 31-12-2024 and 31-12-2025 balance sheets and the 31-12-2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 31-12-2024 | 31-12-2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €207,782 | €367,908 | +€160,126 | +77.1% |
| Fixed assets | 21/28 | €102,298 | €251,244 | +€148,945 | +146% |
| Tangible fixed assets | 22/27 | €93,163 | €242,109 | +€148,945 | +160% |
| Furniture and vehicles | 24 | €992 | €2,276 | +€1,284 | +129% |
| Leasing and similar rights | 25 | €92,171 | €239,832 | +€147,661 | +160% |
| Financial fixed assets | 28 | €9,135 | €9,135 | = | 0.0% |
| Current assets | 29/58 | €105,484 | €116,665 | +€11,181 | +10.6% |
| Amounts receivable within one year | 40/41 | €65,113 | €85,178 | +€20,065 | +30.8% |
| Trade receivables | 40 | €58,858 | €80,668 | +€21,810 | +37.1% |
| Other amounts receivable | 41 | €6,255 | €4,510 | -€1,746 | -27.9% |
| Cash at bank and in hand | 54/58 | €38,361 | €29,865 | -€8,496 | -22.1% |
| Deferred charges and accrued income | 490/1 | €2,009 | €1,622 | -€388 | -19.3% |
| Total equity and liabilities | 10/49 | €207,782 | €367,908 | +€160,126 | +77.1% |
| Equity | 10/15 | €124,844 | €142,684 | +€17,840 | +14.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Other | 1319 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €104,384 | €122,224 | +€17,840 | +17.1% |
| Amounts payable | 17/49 | €82,938 | €225,224 | +€142,286 | +172% |
| Amounts payable after more than one year | 17 | €51,411 | €167,198 | +€115,786 | +225% |
| Financial debts | 170/4 | €51,411 | €167,198 | +€115,786 | +225% |
| Amounts payable within one year | 42/48 | €31,526 | €58,026 | +€26,500 | +84.1% |
| Current portion of amounts payable after more than one year | 42 | €13,863 | €34,368 | +€20,505 | +148% |
| Trade debts | 44 | €9,762 | €21,820 | +€12,057 | +124% |
| Suppliers | 440/4 | €9,762 | €21,820 | +€12,057 | +124% |
| Taxes, remuneration and social security | 45 | €3,151 | €1,838 | -€1,313 | -41.7% |
| Taxes | 450/3 | €3,151 | €1,838 | -€1,313 | -41.7% |
| Other amounts payable | 47/48 | €4,750 | - | -€4,750 | |
| Non-recurring operating income | 76A | €10,345 | - | -€10,345 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,736 | €25,381 | +€13,646 | +116% |
| Other operating charges | 640/8 | €841 | €1,005 | +€163 | +19.4% |
| Gross operating margin | 9900 | €25,710 | €50,080 | +€24,370 | +94.8% |
| Operating profit (loss) | 9901 | €13,133 | €23,694 | +€10,561 | +80.4% |
| Financial income | 75/76B | €126 | €229 | +€103 | +81.1% |
| Recurring financial income | 75 | €126 | €229 | +€103 | +81.1% |
| Financial charges | 65/66B | €2,484 | €4,678 | +€2,194 | +88.3% |
| Recurring financial charges | 65 | €2,484 | €4,678 | +€2,194 | +88.3% |
| Profit (loss) for the period before taxes | 9903 | €10,775 | €19,245 | +€8,470 | +78.6% |
| Income taxes | 67/77 | €2,243 | €1,405 | -€837 | -37.3% |
| Profit (loss) for the period | 9904 | €8,532 | €17,840 | +€9,308 | +109% |
| Profit (loss) for the period to be appropriated | 9905 | €8,532 | €17,840 | +€9,308 | +109% |
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 25 October 2026 via checked.be.