Tracs: 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.
Tracs
Largest movements
- Stocks and contracts -€228,859
down €228,859 (-60.6%), from €377,807 to €148,947
of which Stocks: -€228,859
- Receivables within one year -€89,169
down €89,169 (-79.7%), from €111,894 to €22,725
of which Trade receivables: -€79,669
- Tangible fixed assets -€34,195
down €34,195 (-85.6%), from €39,934 to €5,739
of which Furniture and vehicles: -€30,414
- Receivables after one year -€17,500
down €17,500 (-100.0%), from €17,500 to €0
of which Other amounts receivable: -€17,500
- Tax, wage and social debts -€80,628
down €80,628 (-66.3%), from €121,569 to €40,940
of which Taxes: -€46,169
- Trade debts -€79,594
down €79,594 (-60.3%), from €132,096 to €52,502
- Short-term financial debts -€78,321
down €78,321 (-39.9%), from €196,321 to €118,000
- Profit (loss) carried forward -€64,699
down €64,699 (-593.7%), from -€10,898 to -€75,596
- Other debts -€33,916
down €33,916 (-74.7%), from €45,374 to €11,458
- Gross operating margin +€292,698
up €292,698, from -€27,750 to €264,948
- Write-downs +€228,727
up €228,727, from €0 to €228,727
- Staff costs -€167,997
down €167,997 (-88.7%), from €189,463 to €21,466
- Other operating charges +€47,085
up €47,085 (+1141.5%), from €4,125 to €51,210
- Depreciation -€12,115
down €12,115 (-75.1%), from €16,127 to €4,012
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 | €567,902 | €193,809 | -€374,093 | -65.9% |
| Fixed assets | 21/28 | €43,256 | €9,146 | -€34,111 | -78.9% |
| Tangible fixed assets | 22/27 | €39,934 | €5,739 | -€34,195 | -85.6% |
| Plant, machinery and equipment | 23 | €8,922 | €5,440 | -€3,482 | -39.0% |
| Furniture and vehicles | 24 | €30,414 | €0 | -€30,414 | -100.0% |
| Other tangible fixed assets | 26 | €598 | €299 | -€299 | -50.0% |
| Financial fixed assets | 28 | €3,323 | €3,407 | +€84 | +2.5% |
| Current assets | 29/58 | €524,646 | €184,664 | -€339,982 | -64.8% |
| Amounts receivable after more than one year | 29 | €17,500 | €0 | -€17,500 | -100.0% |
| Trade receivables | 290 | €0 | - | = | |
| Other amounts receivable | 291 | €17,500 | €0 | -€17,500 | -100.0% |
| Stocks and contracts in progress | 3 | €377,807 | €148,947 | -€228,859 | -60.6% |
| Stocks | 30/36 | €250,224 | €21,364 | -€228,859 | -91.5% |
| Contracts in progress | 37 | €127,583 | €127,583 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €111,894 | €22,725 | -€89,169 | -79.7% |
| Trade receivables | 40 | €102,045 | €22,376 | -€79,669 | -78.1% |
| Other amounts receivable | 41 | €9,849 | €349 | -€9,500 | -96.5% |
| Cash at bank and in hand | 54/58 | €14,629 | €11,261 | -€3,368 | -23.0% |
| Deferred charges and accrued income | 490/1 | €2,816 | €1,730 | -€1,087 | -38.6% |
| Total equity and liabilities | 10/49 | €567,902 | €193,809 | -€374,093 | -65.9% |
| Equity | 10/15 | -€1,898 | -€66,596 | -€64,699 | -3409.6% |
| Contributions | 10/11 | €9,000 | €9,000 | = | 0.0% |
| Reserves | 13 | €0 | - | = | |
| Distributable reserves | 133 | €0 | - | = | |
| Profit (loss) carried forward | 14 | -€10,898 | -€75,596 | -€64,699 | -593.7% |
| Amounts payable | 17/49 | €569,800 | €260,405 | -€309,394 | -54.3% |
| Amounts payable after more than one year | 17 | €37,505 | €12,511 | -€24,994 | -66.6% |
| Financial debts | 170/4 | €37,505 | €12,511 | -€24,994 | -66.6% |
| Amounts payable within one year | 42/48 | €522,544 | €247,894 | -€274,650 | -52.6% |
| Current portion of amounts payable after more than one year | 42 | €27,185 | €24,994 | -€2,191 | -8.1% |
| Financial debts | 43 | €196,321 | €118,000 | -€78,321 | -39.9% |
| Credit institutions | 430/8 | €196,321 | €118,000 | -€78,321 | -39.9% |
| Trade debts | 44 | €132,096 | €52,502 | -€79,594 | -60.3% |
| Suppliers | 440/4 | €132,096 | €52,502 | -€79,594 | -60.3% |
| Taxes, remuneration and social security | 45 | €121,569 | €40,940 | -€80,628 | -66.3% |
| Taxes | 450/3 | €61,327 | €15,158 | -€46,169 | -75.3% |
| Remuneration and social security | 454/9 | €60,242 | €25,783 | -€34,459 | -57.2% |
| Other amounts payable | 47/48 | €45,374 | €11,458 | -€33,916 | -74.7% |
| Accrued charges and deferred income | 492/3 | €9,750 | €0 | -€9,750 | -100.0% |
| Non-recurring operating income | 76A | €26,033 | €16,374 | -€9,659 | -37.1% |
| Remuneration, social security and pensions | 62 | €189,463 | €21,466 | -€167,997 | -88.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,127 | €4,012 | -€12,115 | -75.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | €228,727 | +€228,727 | |
| Other operating charges | 640/8 | €4,125 | €51,210 | +€47,085 | +1141.5% |
| Non-recurring operating charges | 66A | - | €2,629 | +€2,629 | |
| Gross operating margin | 9900 | -€27,750 | €264,948 | +€292,698 | |
| Operating profit (loss) | 9901 | -€237,464 | -€43,096 | +€194,369 | +81.9% |
| Financial income | 75/76B | €1,372 | €7,021 | +€5,650 | +411.9% |
| Recurring financial income | 75 | €1,372 | €7,021 | +€5,650 | +411.9% |
| Financial charges | 65/66B | €38,373 | €28,573 | -€9,800 | -25.5% |
| Recurring financial charges | 65 | €38,373 | €28,573 | -€9,800 | -25.5% |
| Profit (loss) for the period before taxes | 9903 | -€274,466 | -€64,647 | +€209,819 | +76.4% |
| Income taxes | 67/77 | €163 | €51 | -€111 | -68.4% |
| Profit (loss) for the period | 9904 | -€274,628 | -€64,699 | +€209,930 | +76.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€274,628 | -€64,699 | +€209,930 | +76.4% |
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 12 October 2026 via checked.be.