TRA TE E IL MARE: what changed
Two fiscal 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 TE E IL MARE
Largest movements
- Tangible fixed assets -€75,163
down €75,163 (-23.1%), from €324,785 to €249,623
of which Furniture and vehicles: -€48,569
- Cash +€48,518
up €48,518 (+129.3%), from €37,532 to €86,049
mainly Depreciation (+€82,792) and Net result for the year (+€37,270)
- Receivables within one year -€9,279
down €9,279 (-12.3%), from €75,415 to €66,135
of which Trade receivables: -€6,031
- Stocks and contracts -€5,264
down €5,264 (-34.0%), from €15,501 to €10,236
- Trade debts -€41,780
down €41,780 (-53.2%), from €78,544 to €36,764
- Profit (loss) carried forward +€37,270
up €37,270 (+18.2%), from €205,168 to €242,438
- Debts after one year -€31,874
down €31,874 (-57.6%), from €55,302 to €23,428
- Other debts +€23,303
up €23,303 (+70.4%), from €33,124 to €56,427
- Current portion of long-term debt -€23,093
down €23,093 (-50.6%), from €45,610 to €22,517
- Gross operating margin +€54,499
up €54,499 (+33.5%), from €162,910 to €217,408
- Staff costs +€14,334
up €14,334 (+23.6%), from €60,801 to €75,134
- Taxes +€9,540
up €9,540 (+439.4%), from €2,171 to €11,711
- Depreciation -€3,393
down €3,393 (-3.9%), from €86,185 to €82,792
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.
Cash bridge derived
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 | €480,225 | €436,694 | -€43,531 | -9.1% |
| Fixed assets | 21/28 | €348,885 | €273,723 | -€75,163 | -21.5% |
| Tangible fixed assets | 22/27 | €324,785 | €249,623 | -€75,163 | -23.1% |
| Plant, machinery and equipment | 23 | €196,041 | €170,758 | -€25,283 | -12.9% |
| Furniture and vehicles | 24 | €116,621 | €68,052 | -€48,569 | -41.6% |
| Other tangible fixed assets | 26 | €12,123 | €10,812 | -€1,311 | -10.8% |
| Financial fixed assets | 28 | €24,100 | €24,100 | = | 0.0% |
| Current assets | 29/58 | €131,340 | €162,972 | +€31,632 | +24.1% |
| Stocks and contracts in progress | 3 | €15,501 | €10,236 | -€5,264 | -34.0% |
| Stocks | 30/36 | €15,501 | €10,236 | -€5,264 | -34.0% |
| Amounts receivable within one year | 40/41 | €75,415 | €66,135 | -€9,279 | -12.3% |
| Trade receivables | 40 | €8,329 | €2,298 | -€6,031 | -72.4% |
| Other amounts receivable | 41 | €67,085 | €63,838 | -€3,248 | -4.8% |
| Cash at bank and in hand | 54/58 | €37,532 | €86,049 | +€48,518 | +129.3% |
| Deferred charges and accrued income | 490/1 | €2,893 | €551 | -€2,342 | -81.0% |
| Total equity and liabilities | 10/49 | €480,225 | €436,694 | -€43,531 | -9.1% |
| Equity | 10/15 | €235,520 | €272,790 | +€37,270 | +15.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €11,752 | €11,752 | = | 0.0% |
| Non-distributable reserves | 130/1 | €11,752 | €11,752 | = | 0.0% |
| Reserves not available under the articles | 1311 | €11,752 | €11,752 | = | 0.0% |
| Profit (loss) carried forward | 14 | €205,168 | €242,438 | +€37,270 | +18.2% |
| Amounts payable | 17/49 | €244,704 | €163,904 | -€80,801 | -33.0% |
| Amounts payable after more than one year | 17 | €55,302 | €23,428 | -€31,874 | -57.6% |
| Financial debts | 170/4 | €55,302 | €23,428 | -€31,874 | -57.6% |
| Amounts payable within one year | 42/48 | €189,403 | €140,476 | -€48,927 | -25.8% |
| Current portion of amounts payable after more than one year | 42 | €45,610 | €22,517 | -€23,093 | -50.6% |
| Trade debts | 44 | €78,544 | €36,764 | -€41,780 | -53.2% |
| Suppliers | 440/4 | €78,544 | €36,764 | -€41,780 | -53.2% |
| Advances received on contracts in progress | 46 | €12,000 | - | -€12,000 | |
| Taxes, remuneration and social security | 45 | €20,125 | €24,768 | +€4,644 | +23.1% |
| Taxes | 450/3 | €2,180 | €11,517 | +€9,337 | +428.2% |
| Remuneration and social security | 454/9 | €17,944 | €13,251 | -€4,693 | -26.2% |
| Other amounts payable | 47/48 | €33,124 | €56,427 | +€23,303 | +70.4% |
| Non-recurring operating income | 76A | - | €8,540 | +€8,540 | |
| Remuneration, social security and pensions | 62 | €60,801 | €75,134 | +€14,334 | +23.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €86,185 | €82,792 | -€3,393 | -3.9% |
| Other operating charges | 640/8 | €318 | €2,370 | +€2,052 | +645.1% |
| Gross operating margin | 9900 | €162,910 | €217,408 | +€54,499 | +33.5% |
| Operating profit (loss) | 9901 | €15,606 | €57,112 | +€41,506 | +266.0% |
| Financial income | 75/76B | €61 | €58 | -€3 | -5.1% |
| Recurring financial income | 75 | €61 | €58 | -€3 | -5.1% |
| Financial charges | 65/66B | €8,033 | €8,189 | +€156 | +1.9% |
| Recurring financial charges | 65 | €8,033 | €8,189 | +€156 | +1.9% |
| Profit (loss) for the period before taxes | 9903 | €7,634 | €48,981 | +€41,347 | +541.6% |
| Income taxes | 67/77 | €2,171 | €11,711 | +€9,540 | +439.4% |
| Profit (loss) for the period | 9904 | €5,463 | €37,270 | +€31,807 | +582.3% |
| Profit (loss) for the period to be appropriated | 9905 | €5,463 | €37,270 | +€31,807 | +582.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.