TRAGEL CALOR: 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.
TRAGEL CALOR
Largest movements
- Cash +€40,827
up €40,827 (+22.3%), from €182,736 to €223,563
mainly Net result for the year (+€17,708) and Other debts (+€15,461)
- Receivables within one year -€14,032
down €14,032 (-54.4%), from €25,797 to €11,765
of which Trade receivables: -€14,654
- Reserves +€17,708
up €17,708 (+10.2%), from €173,083 to €190,791
- Other debts +€15,461
up €15,461 (+60.3%), from €25,635 to €41,095
- Tax, wage and social debts -€4,479
down €4,479 (-100%), from €4,479 to €0
- Trade debts -€4,475
down €4,475 (-85.8%), from €5,215 to €740
- Gross operating margin -€11,457
down €11,457 (-29.0%), from €39,455 to €27,998
- Taxes -€3,019
down €3,019 (-31.3%), from €9,657 to €6,639
- Financial charges +€915
up €915 (+49.8%), from €1,839 to €2,754
- Depreciation +€442
up €442 (+71.8%), from €616 to €1,057
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 | €228,620 | €253,758 | +€25,139 | +11.0% |
| Fixed assets | 21/28 | €3,822 | €2,764 | -€1,057 | -27.7% |
| Tangible fixed assets | 22/27 | €3,822 | €2,764 | -€1,057 | -27.7% |
| Furniture and vehicles | 24 | €3,822 | €2,764 | -€1,057 | -27.7% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €224,798 | €250,994 | +€26,196 | +11.7% |
| Stocks and contracts in progress | 3 | €14,267 | €13,637 | -€630 | -4.4% |
| Stocks | 30/36 | €14,267 | €13,637 | -€630 | -4.4% |
| Amounts receivable within one year | 40/41 | €25,797 | €11,765 | -€14,032 | -54.4% |
| Trade receivables | 40 | €25,226 | €10,572 | -€14,654 | -58.1% |
| Other amounts receivable | 41 | €570 | €1,192 | +€622 | +109% |
| Cash at bank and in hand | 54/58 | €182,736 | €223,563 | +€40,827 | +22.3% |
| Deferred charges and accrued income | 490/1 | €1,998 | €2,030 | +€32 | +1.6% |
| Total equity and liabilities | 10/49 | €228,620 | €253,758 | +€25,139 | +11.0% |
| Equity | 10/15 | €191,633 | €209,341 | +€17,708 | +9.2% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €173,083 | €190,791 | +€17,708 | +10.2% |
| Distributable reserves | 133 | €173,083 | €190,791 | +€17,708 | +10.2% |
| Amounts payable | 17/49 | €36,987 | €44,417 | +€7,430 | +20.1% |
| Amounts payable within one year | 42/48 | €35,329 | €41,835 | +€6,507 | +18.4% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €5,215 | €740 | -€4,475 | -85.8% |
| Suppliers | 440/4 | €5,215 | €740 | -€4,475 | -85.8% |
| Taxes, remuneration and social security | 45 | €4,479 | €0 | -€4,479 | -100% |
| Taxes | 450/3 | €4,479 | €0 | -€4,479 | -100% |
| Other amounts payable | 47/48 | €25,635 | €41,095 | +€15,461 | +60.3% |
| Accrued charges and deferred income | 492/3 | €1,658 | €2,582 | +€924 | +55.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €616 | €1,057 | +€442 | +71.8% |
| Other operating charges | 640/8 | €903 | €982 | +€79 | +8.7% |
| Gross operating margin | 9900 | €39,455 | €27,998 | -€11,457 | -29.0% |
| Operating profit (loss) | 9901 | €37,936 | €25,958 | -€11,978 | -31.6% |
| Financial income | 75/76B | €1,229 | €1,143 | -€86 | -7.0% |
| Recurring financial income | 75 | €1,229 | €1,143 | -€86 | -7.0% |
| Financial charges | 65/66B | €1,839 | €2,754 | +€915 | +49.8% |
| Recurring financial charges | 65 | €1,839 | €2,754 | +€915 | +49.8% |
| Profit (loss) for the period before taxes | 9903 | €37,326 | €24,347 | -€12,980 | -34.8% |
| Income taxes | 67/77 | €9,657 | €6,639 | -€3,019 | -31.3% |
| Profit (loss) for the period | 9904 | €27,669 | €17,708 | -€9,961 | -36.0% |
| Profit (loss) for the period to be appropriated | 9905 | €27,669 | €17,708 | -€9,961 | -36.0% |
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 26 October 2026 via checked.be.