Traco: 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.
Traco
Largest movements
- Cash +€341,381
up €341,381 (+40.6%), from €841,461 to €1.2m
mainly Depreciation (+€111,326) and Net result for the year (+€106,207)
- Tangible fixed assets -€111,326
down €111,326 (-3.5%), from €3.2m to €3.1m
of which Land and buildings: -€111,253
- Reserves +€106,207
up €106,207 (+6.1%), from €1.8m to €1.9m
of which Distributable reserves: +€109,132
- Debts after one year +€92,297
up €92,297 (+4.6%), from €2.0m to €2.1m
- Gross operating margin +€22,354
up €22,354 (+5.5%), from €403,106 to €425,460
- Financial charges -€13,137
down €13,137 (-8.2%), from €160,724 to €147,587
- Taxes +€7,702
up €7,702 (+26.9%), from €28,675 to €36,377
- Financial income -€5,060
down €5,060 (-24.0%), from €21,112 to €16,053
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 | €4,069,902 | €4,290,801 | +€220,899 | +5.4% |
| Fixed assets | 21/28 | €3,208,972 | €3,097,646 | -€111,326 | -3.5% |
| Tangible fixed assets | 22/27 | €3,208,972 | €3,097,646 | -€111,326 | -3.5% |
| Land and buildings | 22 | €3,208,899 | €3,097,646 | -€111,253 | -3.5% |
| Furniture and vehicles | 24 | €73 | €0 | -€73 | -100.0% |
| Current assets | 29/58 | €860,930 | €1,193,155 | +€332,225 | +38.6% |
| Amounts receivable within one year | 40/41 | €17,658 | €8,438 | -€9,220 | -52.2% |
| Other amounts receivable | 41 | €17,658 | €8,438 | -€9,220 | -52.2% |
| Cash at bank and in hand | 54/58 | €841,461 | €1,182,842 | +€341,381 | +40.6% |
| Deferred charges and accrued income | 490/1 | €1,810 | €1,874 | +€64 | +3.5% |
| Total equity and liabilities | 10/49 | €4,069,902 | €4,290,801 | +€220,899 | +5.4% |
| Equity | 10/15 | €1,883,260 | €1,989,467 | +€106,207 | +5.6% |
| Contributions | 10/11 | €130,144 | €130,144 | = | 0.0% |
| Capital | 10 | €130,144 | €130,144 | = | 0.0% |
| Issued capital | 100 | €130,144 | €130,144 | = | 0.0% |
| Reserves | 13 | €1,753,115 | €1,859,323 | +€106,207 | +6.1% |
| Non-distributable reserves | 130/1 | €13,014 | €13,014 | = | 0.0% |
| Legal reserve | 130 | €13,014 | €13,014 | = | 0.0% |
| Tax-exempt reserves | 132 | €119,698 | €116,774 | -€2,925 | -2.4% |
| Distributable reserves | 133 | €1,620,403 | €1,729,534 | +€109,132 | +6.7% |
| Provisions and deferred taxes | 16 | €28,276 | €27,301 | -€975 | -3.4% |
| Deferred taxes | 168 | €28,276 | €27,301 | -€975 | -3.4% |
| Amounts payable | 17/49 | €2,158,366 | €2,274,033 | +€115,667 | +5.4% |
| Amounts payable after more than one year | 17 | €1,985,648 | €2,077,946 | +€92,297 | +4.6% |
| Financial debts | 170/4 | €1,985,648 | €2,077,946 | +€92,297 | +4.6% |
| Amounts payable within one year | 42/48 | €167,843 | €151,374 | -€16,469 | -9.8% |
| Trade debts | 44 | €7,178 | €3,879 | -€3,299 | -46.0% |
| Suppliers | 440/4 | €7,178 | €3,879 | -€3,299 | -46.0% |
| Taxes, remuneration and social security | 45 | €48,199 | €44,249 | -€3,951 | -8.2% |
| Taxes | 450/3 | €48,199 | €44,249 | -€3,951 | -8.2% |
| Other amounts payable | 47/48 | €112,465 | €103,247 | -€9,219 | -8.2% |
| Accrued charges and deferred income | 492/3 | €4,875 | €44,714 | +€39,839 | +817.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €114,631 | €111,326 | -€3,305 | -2.9% |
| Other operating charges | 640/8 | €38,061 | €40,990 | +€2,929 | +7.7% |
| Gross operating margin | 9900 | €403,106 | €425,460 | +€22,354 | +5.5% |
| Operating profit (loss) | 9901 | €250,414 | €273,144 | +€22,730 | +9.1% |
| Financial income | 75/76B | €21,112 | €16,053 | -€5,060 | -24.0% |
| Recurring financial income | 75 | €21,112 | €16,053 | -€5,060 | -24.0% |
| Financial charges | 65/66B | €160,724 | €147,587 | -€13,137 | -8.2% |
| Recurring financial charges | 65 | €160,724 | €147,587 | -€13,137 | -8.2% |
| Profit (loss) for the period before taxes | 9903 | €110,802 | €141,610 | +€30,808 | +27.8% |
| Transfer from deferred taxes | 780 | €975 | €975 | = | 0.0% |
| Income taxes | 67/77 | €28,675 | €36,377 | +€7,702 | +26.9% |
| Profit (loss) for the period | 9904 | €83,101 | €106,207 | +€23,106 | +27.8% |
| Transfer from tax-exempt reserves | 789 | €2,925 | €2,925 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €86,026 | €109,132 | +€23,106 | +26.9% |
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 6 October 2026 via checked.be.