TRAGENAS: 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.
TRAGENAS
Largest movements
- Tangible fixed assets +€59,921
up €59,921 (+1,180%), from €5,079 to €65,000
- Cash -€27,347
down €27,347 (-31.2%), from €87,692 to €60,346
mainly Investment in fixed assets (net) (-€73,846) and Contributions, distributions and other (-€58,725)
- Receivables within one year -€1,835
down €1,835 (-11.9%), from €15,424 to €13,589
of which Other amounts receivable: -€2,464
- Profit (loss) carried forward -€26,239
down €26,239 (-84.1%), from €31,214 to €4,974
- Other debts +€24,980
up €24,980 (+74.0%), from €33,745 to €58,725
- Debts after one year +€23,156
new in 2025: €23,156
- Current portion of long-term debt +€9,746
new in 2025: €9,746
- Tax, wage and social debts -€2,107
down €2,107 (-24.2%), from €8,701 to €6,594
- Depreciation +€12,484
up €12,484 (+867%), from €1,440 to €13,924
- Gross operating margin -€7,916
down €7,916 (-12.1%), from €65,258 to €57,342
- Taxes -€4,632
down €4,632 (-33.0%), from €14,034 to €9,402
- Financial charges +€1,136
up €1,136 (+1,587%), from €72 to €1,207
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 | €109,886 | €140,645 | +€30,759 | +28.0% |
| Fixed assets | 21/28 | €5,079 | €65,000 | +€59,921 | +1,180% |
| Tangible fixed assets | 22/27 | €5,079 | €65,000 | +€59,921 | +1,180% |
| Furniture and vehicles | 24 | €5,079 | €65,000 | +€59,921 | +1,180% |
| Current assets | 29/58 | €104,807 | €75,645 | -€29,163 | -27.8% |
| Amounts receivable within one year | 40/41 | €15,424 | €13,589 | -€1,835 | -11.9% |
| Trade receivables | 40 | €11,746 | €12,375 | +€629 | +5.4% |
| Other amounts receivable | 41 | €3,678 | €1,214 | -€2,464 | -67.0% |
| Cash at bank and in hand | 54/58 | €87,692 | €60,346 | -€27,347 | -31.2% |
| Deferred charges and accrued income | 490/1 | €1,691 | €1,710 | +€18 | +1.1% |
| Total equity and liabilities | 10/49 | €109,886 | €140,645 | +€30,759 | +28.0% |
| Equity | 10/15 | €66,178 | €39,939 | -€26,239 | -39.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €16,365 | €16,365 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €14,505 | €14,505 | = | 0.0% |
| Profit (loss) carried forward | 14 | €31,214 | €4,974 | -€26,239 | -84.1% |
| Amounts payable | 17/49 | €43,708 | €100,706 | +€56,998 | +130% |
| Amounts payable after more than one year | 17 | - | €23,156 | +€23,156 | |
| Financial debts | 170/4 | - | €23,156 | +€23,156 | |
| Amounts payable within one year | 42/48 | €43,708 | €77,550 | +€33,842 | +77.4% |
| Current portion of amounts payable after more than one year | 42 | - | €9,746 | +€9,746 | |
| Trade debts | 44 | €1,262 | €2,486 | +€1,224 | +97.0% |
| Suppliers | 440/4 | €1,262 | €2,486 | +€1,224 | +97.0% |
| Taxes, remuneration and social security | 45 | €8,701 | €6,594 | -€2,107 | -24.2% |
| Taxes | 450/3 | €8,701 | €6,594 | -€2,107 | -24.2% |
| Other amounts payable | 47/48 | €33,745 | €58,725 | +€24,980 | +74.0% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,440 | €13,924 | +€12,484 | +867% |
| Other operating charges | 640/8 | €582 | €668 | +€86 | +14.8% |
| Gross operating margin | 9900 | €65,258 | €57,342 | -€7,916 | -12.1% |
| Operating profit (loss) | 9901 | €63,236 | €42,749 | -€20,486 | -32.4% |
| Financial income | 75/76B | €70 | €345 | +€275 | +393% |
| Recurring financial income | 75 | €70 | €345 | +€275 | +393% |
| Financial charges | 65/66B | €72 | €1,207 | +€1,136 | +1,587% |
| Recurring financial charges | 65 | €72 | €1,207 | +€1,136 | +1,587% |
| Profit (loss) for the period before taxes | 9903 | €63,234 | €41,888 | -€21,347 | -33.8% |
| Income taxes | 67/77 | €14,034 | €9,402 | -€4,632 | -33.0% |
| Profit (loss) for the period | 9904 | €49,200 | €32,486 | -€16,715 | -34.0% |
| Profit (loss) for the period to be appropriated | 9905 | €49,200 | €32,486 | -€16,715 | -34.0% |
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 18 October 2026 via checked.be.