TRACOBA: 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.
TRACOBA
Largest movements
- Cash -€16,863
down €16,863 (-59.1%), from €28,514 to €11,650
mainly Investment in fixed assets (net) (-€33,358) and Other debts (-€5,976)
- Tangible fixed assets +€6,828
up €6,828 (+6.6%), from €104,174 to €111,002
of which Land and buildings: +€5,514
- Other debts -€5,976
down €5,976 (-45.0%), from €13,282 to €7,306
- Profit (loss) carried forward -€4,181
down €4,181 (-2.4%), from -€171,088 to -€175,269
- Depreciation -€3,053
down €3,053 (-10.3%), from €29,583 to €26,530
- Gross operating margin +€1,418
up €1,418 (+4.9%), from €28,766 to €30,184
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 | €134,325 | €124,028 | -€10,297 | -7.7% |
| Fixed assets | 21/28 | €104,174 | €111,002 | +€6,828 | +6.6% |
| Tangible fixed assets | 22/27 | €104,174 | €111,002 | +€6,828 | +6.6% |
| Land and buildings | 22 | €102,565 | €108,079 | +€5,514 | +5.4% |
| Plant, machinery and equipment | 23 | €1,194 | €636 | -€558 | -46.7% |
| Furniture and vehicles | 24 | €414 | €2,286 | +€1,872 | +451.9% |
| Current assets | 29/58 | €30,151 | €13,026 | -€17,125 | -56.8% |
| Amounts receivable within one year | 40/41 | €781 | €495 | -€287 | -36.7% |
| Other amounts receivable | 41 | €781 | €495 | -€287 | -36.7% |
| Cash at bank and in hand | 54/58 | €28,514 | €11,650 | -€16,863 | -59.1% |
| Deferred charges and accrued income | 490/1 | €856 | €881 | +€25 | +2.9% |
| Total equity and liabilities | 10/49 | €134,325 | €124,028 | -€10,297 | -7.7% |
| Equity | 10/15 | -€108,536 | -€112,717 | -€4,181 | -3.9% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Capital | 10 | €61,973 | €61,973 | = | 0.0% |
| Issued capital | 100 | €61,973 | €61,973 | = | 0.0% |
| Reserves | 13 | €579 | €579 | = | 0.0% |
| Non-distributable reserves | 130/1 | €579 | €579 | = | 0.0% |
| Legal reserve | 130 | €579 | €579 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€171,088 | -€175,269 | -€4,181 | -2.4% |
| Amounts payable | 17/49 | €242,860 | €236,744 | -€6,116 | -2.5% |
| Amounts payable after more than one year | 17 | €227,631 | €227,631 | = | 0.0% |
| Other amounts payable | 178/9 | €227,631 | €227,631 | = | 0.0% |
| Amounts payable within one year | 42/48 | €15,229 | €9,113 | -€6,116 | -40.2% |
| Trade debts | 44 | €1,688 | €1,548 | -€140 | -8.3% |
| Suppliers | 440/4 | €1,688 | €1,548 | -€140 | -8.3% |
| Taxes, remuneration and social security | 45 | €259 | €259 | = | 0.0% |
| Taxes | 450/3 | €259 | €259 | = | 0.0% |
| Other amounts payable | 47/48 | €13,282 | €7,306 | -€5,976 | -45.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,583 | €26,530 | -€3,053 | -10.3% |
| Other operating charges | 640/8 | €7,506 | €7,576 | +€70 | +0.9% |
| Gross operating margin | 9900 | €28,766 | €30,184 | +€1,418 | +4.9% |
| Operating profit (loss) | 9901 | -€8,323 | -€3,922 | +€4,401 | +52.9% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €250 | €259 | +€9 | +3.8% |
| Recurring financial charges | 65 | €250 | €259 | +€9 | +3.8% |
| Profit (loss) for the period before taxes | 9903 | -€8,573 | -€4,181 | +€4,391 | +51.2% |
| Profit (loss) for the period | 9904 | -€8,573 | -€4,181 | +€4,391 | +51.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€8,573 | -€4,181 | +€4,391 | +51.2% |
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 10 October 2026 via checked.be.