TRADESCO: 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.
TRADESCO
Largest movements
- Cash -€15.4m
down €15.4m (-97.5%), from €15.8m to €402,121
mainly Investment in fixed assets (net) (-€9.1m) and Current investments (-€4.5m)
- Financial fixed assets +€9.0m
new in 2025: €9.0m
- Current investments +€4.5m
new in 2025: €4.5m
- Debts after one year -€2.3m
down €2.3m (-9.4%), from €24.4m to €22.1m
of which Other amounts payable: -€2.3m
- Financial income -€522,699
down €522,699 (-44.1%), from €1.2m to €662,153
- Financial charges -€419,812
down €419,812 (-39.9%), from €1.1m to €632,135
- Taxes -€150,611
down €150,611 (-97.0%), from €155,330 to €4,718
- Other operating charges +€11,500
up €11,500 (+31.2%), from €36,873 to €48,373
- Gross operating margin -€9,277
down €9,277 (-5.6%), from €167,093 to €157,816
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 | €32,310,852 | €30,009,622 | -€2.3m | -7.1% |
| Formation expenses | 20 | €14,933 | €10,295 | -€4,637 | -31.1% |
| Fixed assets | 21/28 | €16,156,602 | €24,864,807 | +€8.7m | +53.9% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €16,156,602 | €15,896,193 | -€260,409 | -1.6% |
| Land and buildings | 22 | €15,586,389 | €15,411,523 | -€174,866 | -1.1% |
| Furniture and vehicles | 24 | €570,213 | €484,671 | -€85,542 | -15.0% |
| Financial fixed assets | 28 | - | €8,968,613 | +€9.0m | |
| Current assets | 29/58 | €16,139,318 | €5,134,520 | -€11.0m | -68.2% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €29,460 | €187,967 | +€158,507 | +538% |
| Trade receivables | 40 | €28,910 | €7,967 | -€20,943 | -72.4% |
| Other amounts receivable | 41 | €550 | €180,000 | +€179,450 | +32,627% |
| Current investments | 50/53 | - | €4,500,000 | +€4.5m | |
| Cash at bank and in hand | 54/58 | €15,785,481 | €402,121 | -€15.4m | -97.5% |
| Deferred charges and accrued income | 490/1 | €324,376 | €44,433 | -€279,944 | -86.3% |
| Total equity and liabilities | 10/49 | €32,310,852 | €30,009,622 | -€2.3m | -7.1% |
| Equity | 10/15 | €7,849,192 | €7,629,765 | -€219,427 | -2.8% |
| Contributions | 10/11 | €8,035,019 | €8,035,019 | = | 0.0% |
| Revaluation surpluses | 12 | €144,380 | €144,380 | = | 0.0% |
| Reserves | 13 | €52,493 | €52,493 | = | 0.0% |
| Distributable reserves | 133 | €52,493 | €52,493 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€382,700 | -€602,127 | -€219,427 | -57.3% |
| Amounts payable | 17/49 | €24,461,660 | €22,379,857 | -€2.1m | -8.5% |
| Amounts payable after more than one year | 17 | €24,420,353 | €22,113,785 | -€2.3m | -9.4% |
| Financial debts | 170/4 | €12,500,000 | €12,500,000 | = | 0.0% |
| Other amounts payable | 178/9 | €11,920,353 | €9,613,785 | -€2.3m | -19.3% |
| Amounts payable within one year | 42/48 | €38,511 | €48,725 | +€10,214 | +26.5% |
| Trade debts | 44 | €38,469 | €47,836 | +€9,368 | +24.4% |
| Suppliers | 440/4 | €38,469 | €47,836 | +€9,368 | +24.4% |
| Taxes, remuneration and social security | 45 | €42 | €0 | -€42 | -100% |
| Taxes | 450/3 | €42 | €0 | -€42 | -100% |
| Other amounts payable | 47/48 | - | €888 | +€888 | |
| Accrued charges and deferred income | 492/3 | €2,796 | €217,347 | +€214,551 | +7,673% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €357,284 | €354,169 | -€3,116 | -0.9% |
| Other operating charges | 640/8 | €36,873 | €48,373 | +€11,500 | +31.2% |
| Non-recurring operating charges | 66A | €8,982 | €0 | -€8,982 | -100% |
| Gross operating margin | 9900 | €167,093 | €157,816 | -€9,277 | -5.6% |
| Operating profit (loss) | 9901 | -€236,047 | -€244,726 | -€8,680 | -3.7% |
| Financial income | 75/76B | €1,184,852 | €662,153 | -€522,699 | -44.1% |
| Recurring financial income | 75 | €1,184,852 | €662,153 | -€522,699 | -44.1% |
| Financial charges | 65/66B | €1,051,948 | €632,135 | -€419,812 | -39.9% |
| Recurring financial charges | 65 | €1,051,948 | €632,135 | -€419,812 | -39.9% |
| Profit (loss) for the period before taxes | 9903 | -€103,142 | -€214,709 | -€111,567 | -108% |
| Income taxes | 67/77 | €155,330 | €4,718 | -€150,611 | -97.0% |
| Profit (loss) for the period | 9904 | -€258,472 | -€219,427 | +€39,045 | +15.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€258,472 | -€219,427 | +€39,045 | +15.1% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.