TRA.ME.V: 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.
TRA.ME.V
Largest movements
- Receivables within one year +€16,377
up €16,377 (+40.7%), from €40,208 to €56,585
of which Trade receivables: +€24,017
- Intangible fixed assets -€3,500
down €3,500 (-14.4%), from €24,289 to €20,789
- Cash +€2,811
up €2,811 (+8.8%), from €31,826 to €34,637
mainly Net result for the year (+€24,054) and Depreciation (+€11,623)
- Deferred charges and accrued income -€2,754
down €2,754 (-96.5%), from €2,855 to €101
- Tangible fixed assets -€2,638
down €2,638 (-4.9%), from €53,654 to €51,016
of which Plant, machinery and equipment: -€3,611
- Profit (loss) carried forward +€24,054
up €24,054 (+29.1%), from €82,528 to €106,581
- Other debts -€22,883
down €22,883 (-86.9%), from €26,323 to €3,441
- Trade debts +€7,214
up €7,214 (+67.8%), from €10,633 to €17,847
- Tax, wage and social debts +€1,998
up €1,998 (+7.0%), from €28,521 to €30,520
of which Remuneration and social security: +€3,744
- Staff costs +€35,663
up €35,663 (+42.0%), from €84,818 to €120,481
- Taxes -€11,860
down €11,860 (-62.9%), from €18,860 to €7,000
- Depreciation +€2,337
up €2,337 (+25.2%), from €9,285 to €11,623
- Gross operating margin +€1,886
up €1,886 (+1.1%), from €167,597 to €169,483
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €163,005 | €173,388 | +€10,383 | +6.4% |
| Fixed assets | 21/28 | €83,643 | €77,505 | -€6,138 | -7.3% |
| Intangible fixed assets | 21 | €24,289 | €20,789 | -€3,500 | -14.4% |
| Tangible fixed assets | 22/27 | €53,654 | €51,016 | -€2,638 | -4.9% |
| Plant, machinery and equipment | 23 | €15,937 | €12,326 | -€3,611 | -22.7% |
| Furniture and vehicles | 24 | €9,897 | €11,264 | +€1,367 | +13.8% |
| Other tangible fixed assets | 26 | €27,820 | €27,427 | -€393 | -1.4% |
| Financial fixed assets | 28 | €5,700 | €5,700 | = | 0.0% |
| Current assets | 29/58 | €79,362 | €95,883 | +€16,521 | +20.8% |
| Stocks and contracts in progress | 3 | €4,473 | €4,560 | +€87 | +2.0% |
| Stocks | 30/36 | €4,473 | €4,560 | +€87 | +2.0% |
| Amounts receivable within one year | 40/41 | €40,208 | €56,585 | +€16,377 | +40.7% |
| Trade receivables | 40 | €13,561 | €37,578 | +€24,017 | +177% |
| Other amounts receivable | 41 | €26,647 | €19,007 | -€7,640 | -28.7% |
| Cash at bank and in hand | 54/58 | €31,826 | €34,637 | +€2,811 | +8.8% |
| Deferred charges and accrued income | 490/1 | €2,855 | €101 | -€2,754 | -96.5% |
| Total equity and liabilities | 10/49 | €163,005 | €173,388 | +€10,383 | +6.4% |
| Equity | 10/15 | €97,528 | €121,581 | +€24,054 | +24.7% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €82,528 | €106,581 | +€24,054 | +29.1% |
| Amounts payable | 17/49 | €65,477 | €51,807 | -€13,670 | -20.9% |
| Amounts payable within one year | 42/48 | €65,477 | €51,807 | -€13,670 | -20.9% |
| Trade debts | 44 | €10,633 | €17,847 | +€7,214 | +67.8% |
| Suppliers | 440/4 | €10,633 | €17,847 | +€7,214 | +67.8% |
| Taxes, remuneration and social security | 45 | €28,521 | €30,520 | +€1,998 | +7.0% |
| Taxes | 450/3 | €21,735 | €19,989 | -€1,745 | -8.0% |
| Remuneration and social security | 454/9 | €6,787 | €10,530 | +€3,744 | +55.2% |
| Other amounts payable | 47/48 | €26,323 | €3,441 | -€22,883 | -86.9% |
| Remuneration, social security and pensions | 62 | €84,818 | €120,481 | +€35,663 | +42.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,285 | €11,623 | +€2,337 | +25.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €1,240 | - | -€1,240 | |
| Other operating charges | 640/8 | €510 | €263 | -€247 | -48.5% |
| Gross operating margin | 9900 | €167,597 | €169,483 | +€1,886 | +1.1% |
| Operating profit (loss) | 9901 | €71,743 | €37,117 | -€34,627 | -48.3% |
| Financial income | 75/76B | - | €80 | +€80 | |
| Recurring financial income | 75 | - | €80 | +€80 | |
| Financial charges | 65/66B | €5,697 | €6,143 | +€446 | +7.8% |
| Recurring financial charges | 65 | €5,697 | €6,143 | +€446 | +7.8% |
| Profit (loss) for the period before taxes | 9903 | €66,047 | €31,054 | -€34,993 | -53.0% |
| Income taxes | 67/77 | €18,860 | €7,000 | -€11,860 | -62.9% |
| Profit (loss) for the period | 9904 | €47,187 | €24,054 | -€23,133 | -49.0% |
| Profit (loss) for the period to be appropriated | 9905 | €47,187 | €24,054 | -€23,133 | -49.0% |
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 27 October 2026 via checked.be.